Commenting on his appointment, new CEO Kell Nielsen said: 'I am excited to have accepted the opportunity to lead the management and exploration programme for MHC, where I believe the
I especially look forward to MHC's initial drill programme at New Bendigo where significant mineralisation has been identified within a much broader geochemical soil anomaly where limited drilling has been completed to date.'
New Bendigo RC Drilling
MHC plans to commence its initial Reverse Circulation (RC) drill programme at New Bendigo by mid- May, with the Company engaging the services of an RC drilling services specialist. Work is currently scheduled to commence midMay subject to movement and work restrictions mandated by Government(s) due to the COVID-19 Pandemic. The drilling program is designed to test: the down-plunge extension of the north-plunging, high-grade shoot potential for a second parallel shoot located beneath the first reflected by a historical RAB drilling result of 22m at 4.94g/t Au from 8m in hole TIBRB-12 potential for a third plunging shoot located to the west of the currently defined mineralisation where RAB drilling has intersected 7m at 3.33 g/t Au from 10m (TIBRB-6) and 4m at 2.47 g/t Au from 7m (TIBRB-10)
Previous drilling at New Bendigo returned highly encouraging gold intersections within a small section of a 5km long soil anomaly that is interpreted to potentially define a series of north-plunging, high-grade gold shoots, which are open down-plunge to the north and have yet to be closed off. In addition to this, historical RAB drilling has identified further potential shoots, predominantly to the west of the current drilling, that have yet to be followed up with either RC or
MHC has applied for a further Exploration Licence (EL) in addition to the previously reported Exploration Licence Application (ELA) No. 5912 (ASX: MHC Announcement 'Drilling -
The new ELA (No. 5939) adds a further 83 km2 covering an area strategically located between MHC's existing tenure and ELA No. 5912. In addition to the ELA's strategic location, historic drilling completed by
Appointment of Chief Executive Officer
MHC is pleased to announce the appointment of
About the
The current 1,354 km2
Mining History
Auriferous quartz vein networks and alluvial deposits that shed from them, were mined in shallow pits, shafts and adits by early prospectors between 1881 and 1901. Over 1,700kg of gold was extracted, mostly from alluvial and eluvial deposits. Despite the rich rock-chip gold assays and overall historical mining grades of over 20g/t Au, the primary ore systems have rarely been tested below the water table (approx. 60m). Only sporadic exploration has been conducted since the abandonment of the goldfield in 1901, with undercover exploration utilising the highquality geophysical datasets of the
Similarities to the Victorian Goldfields
After a detailed study of the
Forward looking statements
This announcement may contain certain 'forward-looking statements' which may not have been based solely on historical facts, but rather may be based on the Company's current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to third party actions, metals price volatility, currency fluctuations and variances in exploration results, ore grade or other factors, as well as political and operational risks, and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any 'forward-looking statement' to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Contact:
Tel: +61 8 9322 6677
Email: info@manhattcorp.com.au
(C) 2020 Electronic News Publishing, source