Announcement Date: 2023-02-21
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Metal Bank Ltd.
Project name: Livingstone
Location: Australia
Commodities: Gold
Highlight: Updated Resource Estimate for Homestead Deposit
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to report a JORC 2012 Mineral Resource Estimate (“MRE”) for the Homestead gold deposit (Homestead) of 880Kt at 1.42g/t Au for 40,300oz Au (0.5g/t Au cut-off), with over 80% of the Resource within Indicated classification. The Homestead deposit represents just one of a number of advanced gold targets in MBK’s Livingstone Gold Project in the Bryah Basin near Meekatharra in Western Australia. The previous JORC 2004 Inferred Resource of 49,909oz Au for Homestead was originally reported by Talisman Mining Ltd and by Kingston Resources Limited2. Recent drilling of 10 RC holes by MBK in 2022 permitted this 2012 JORC Resource classification update by demonstrating continuity of mineralisation, QA/QC of previous work and applying updated economic parameters. The MRE was prepared by Cube Consulting of Perth using geological and mineralisation interpretation by MBK geologists.
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