Total
0
Shares
Source: Mindax
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mindax (MDX) completes phase one reverse circulation drilling at the Meekatharra North Project in Western Australia
  • All up, 18 holes were drilled on the northern end of the project to test several priority targets
  • While a few holes were terminated due to ground water preventing further work, up to 1.21 grams of gold per tonne (g/t) was still encountered
  • Further drilling has been planned to systematically explore the project and follow up these results
  • Mindax has ended the day 6.33 per cent in the red with shares trading at 7.4 cents

Mindax (MDX) has completed its phase one reverse circulation (RC) drilling program at the Meekatharra North Project.

The Meekatharra North Project lies 40 kilometres north of Meekatharra in the Murchison Province of Western Australia.

It is made up of one granted exploration licence and covers a number of local and regional structures that are important to the localisation of gold mineralisation in the area.

All up, 18 RC holes, for 2162 metres, were drilled on the northern end of the project to test several priority targets.

The majority of the drilling was completed however Mindax encountered some challenging conditions when ground water affected sample recovery depth for some of the holes.

Best results include two metres at 1.21 grams of gold per tonne (g/t), four metres at 0.57g/t gold, seven metres at 0.53g/t gold and one metre at 0.52g/t gold.

Several holes also intersected narrow quartz vein with minor pyrite as well as bands of basalt and dolerite.

This indicates that drilling is potentially close to a dolerite contact.

Further drilling has been planned to systematically explore the project and follow up these results.

Mindax ended the day 6.33 per cent in the red with shares trading at 7.4 cents and a $147.9 million market cap.

MDX by the numbers
More From The Market Herald
Bellevue Gold (ASX:BGL) - Managing Director, Steve Parsons

" Bellevue Gold (ASX:BGL) completes $200m loan facility

Bellevue Gold (BGL) has executed a project loan facility totalling $200 million with Macquarie Bank (MGQ).

" E79 Gold Mines (ASX:E79) kicks off drilling at Laverton South

E79 Gold Mines (E79) has kicked off its maiden drilling program over its Laverton South Gold Project in Western Australia.
Miramar Resources (ASX:M2R) - Executive Chairman, Allan Kelly

" Miramar Resources (ASX:M2R) outline large gold footprint at Glandore Project

Miramar Resources (M2R) has outlined a very large gold footprint at its Glandore Project in the Eastern Goldfields region of Western Australia.

" Southern Hemisphere Mining (ASX:SUH) begins RC drilling at Llahuin

Southern Hemisphere Mining (SUH) has begun reverse circulation (RC) drilling at its Llahuin Copper-Gold-Molybdenum Project.