- Manhattan (MHC) has begun its drilling program at the Tibooburra Gold Project in New South Wales
- The program will include 30,000 metres of aircore, diamond core and reverse circulation drilling
- Aircore drilling has commenced and a diamond drill rig is arriving on the site this weekend
- Drilling is fully funded and expected to end in the first quarter of 2021
- On the market today, Manhattan is in the grey and trading for 3.3 cents per share
Manhattan (MHC) has begun a drilling campaign at its Tibooburra Gold Project in New South Wales.
The program includes around 30,000 metres of aircore, diamond core and reverse circulation drilling at the New Bendigo and regional gold targets within the project.
The first section of the drilling includes around 20,000 metres of aircore, with a diamond drill rig arriving on the site this weekend. The further 10,000 metres will be undertaken by reverse circulation drilling that will target the high-grade mineralised components and extensions to the New Bendigo system.
Manhattan has all the funds for the drilling program, which is expected to end in the first quarter of 2021.
Drilling is more aggressive this round after the company had success with two modest drilling programs in the area. Previous results at New Bendigo include five metres at 20.86 g/t of gold from 11 metres.
The Tibooburra project includes 10 granted exploration licences and is located around 200 kilometres north of Broken Hill.
“To date, Manhattan has achieved great success with only two modest drill programs totalling 8000 metres of RC drilling, this has given the company the confidence to embark on a more aggressive approach to test the extent of the New Bendigo mineralisation, particularly the potential of the higher grade intercepts associated with shoots or feeder structures,” CEO Kell Nielsen said in October.
On the market today, Manhattan is in the grey and trading for 3.3 cents per share at 11:15 am AEDT.