- Mandrake Resources (MAN) intersects sulphide zones at the Newleyine prospect in Western Australia
- Diamond drilling is being undertaken a Newleyine to test three discrete, late-time electromagnetic bedrock conductors
- Two holes have intersected multiple zones of dispersed and semi-massive sulphide zones spanning from a range of depths
- Samples from both holes are now being prepared for assay with results to be released in due course
- Shares in Mandrake are up 5.36 per cent and are trading at 14.8 cents at 11:26 am AEST
Mandrake Resources (MAN) has intersected sulphide zones at the Newleyine nickel-copper-platinum group element (PGE) prospect.
The Newleyine prospect is part of the Jimperding Metamorphic Project which lies 70 kilometres northeast of Perth in Western Australia.
Diamond drilling is being undertaken a Newleyine to test three discrete, late-time electromagnetic (EM) bedrock conductors.
These conductors are of moderate to high conductance and lie between 125 metres and 210 metres below surface.
Hole MNEWDD002 intersected several zones of dispersed and semi-massive sulphides in mafic-ultramafic rocks.
It also included a broad serpentinite zone with dispersed sulphides from 43 metres to 119 metres followed by another intersection from 121 metres to 130.5 metres containing one to three per cent sulphides.
At 130.5 metres, a 4.5-metre-zone consisting of amphibolite with five to 10 per cent dispersed sulphides was intersected and then followed by an additional 2.9-metre-wide zone from 138.4 metres containing 15 per cent sulphides.
MNEWDD001 encountered primarily ultramafic rock with regular zones of dispersed and vein-filled sulphides.
A downhole EM survey identified a strong, late-time off-hole conductor that is now being drill tested.
Samples from both holes are now being prepared for assay with results to be released in due course.
Managing Director James Allchurch is pleased to receive these results which he says are highly encouraging for future work.
“The appearance of ultramafic rocks containing distinct sulphides, including chalcopyrite, in our second hole is highly encouraging and demonstrates the potential of the Newleyine intrusive,” Mr Allchurch commented.
“In addition, the compelling off-hole conductor identified by downhole EM in the first hole is an exciting development, which we are now immediately drill testing with results to be known shortly.”
Shares in Mandrake were up 5.36 per cent and trading at 14.8 cents at 11:26 am AEST.