Join our daily newsletter At The Bell to receive exclusive market insights
- Anglo Australian Resources (AAR) receives a new batch of assay results from its Mandilla Gold Project in Western Australia
- The company drilled 21 reverse circulation (RC) holes at Theia, previously known as Mandilla East, to test the possible extensions of the mineral resource to the south
- Overall, grades peaked at 12.52 g/t gold and a consistent zone of mineralisation is continuing to be defined along strike and to the south
- Drilling is also underway at the new Eos discovery with 11 holes drilled to date and grades peaking at 14.24 g/t gold
- Anglo Australian Resources is down 1.18 per cent on the market with shares trading at 8.4 cents
Anglo Australian Resources (AAR) has received a new batch of assay results from its Mandilla Gold Project in Western Australia.
Mandilla lies 70 kilometres south of Kalgoorlie and has a JORC 2012 mineral resource estimate (MRE) of 19.8 million tonnes at one gram per tonne (g/t) of gold, representing 664,600 ounces.
The results come from 45 reverse circulation (RC) holes drilled across Theia and Iris, previously known as Mandilla East and Mandilla South, respectively.
Anglo drilled 21 RC holes at Theia to test the possible extension of the mineral resource to the south and follow up on drilling undertaken in July.
Best results include two metres at 12.52 g/t gold from 158 metres, seven metres at 6.02 g/t gold from 73 metres, and 37 metres at 3.07 g/t gold from 89 metres.
A consistent zone of mineralisation is continuing to be defined along strike and to the south of Theia with follow-up RC drilling planned to outline additional mineralisation between Theia and Iris.
Drilling is also underway at the new Eos discovery with 11 holes, covering 1080 metres, drilled to date.
The results are encouraging with a flat-lying, high-grade zone continuing to be defined.
Noteworthy results include three metres at 5.85 g/t gold from 52 metres, including one metre at 14.24 g/t gold from 52 metres, and six metres at 2.23 g/t gold from 53 metres, including one metre at 8.25 g/t gold from 53 metres.
Drilling will continue at Eos to identify its potential scale and determine if the mineralisation is associated with a fresh rock source.
Four diamond holes were also drilled at Mandilla and while results are yet to be received, visible gold has been identified in three of the holes.
Both RC and diamond drilling is continuing with the updated MRE planned following the completion of drilling.
“We are very pleased with the results at Mandilla, the deposit continues to grow and we are looking forward to updating the mineral resource is the near future,” Managing Director Mark Ducler said.
“There remains further drilling to be be completed at Mandilla beyond the current program as we progress on the road to one million ounces.”
Anglo Australian Resources was down 1.18 per cent on the market with shares trading at 8.4 cents at 2:04 pm AEDT.
