Magnetic Resources NL (ASX: MAU) has carried out a number of deeper step out holes to see whether the LJN4 resource could be extended further at depth. The resource had a significant 107% increase in overall resource in its Laverton Project in November to 22.7Mt @1.69g/t totalling 1.24Moz of gold at 0.5g/t cut off and LJN4 increased by 317% from 204Koz to 852Koz.
Some compelling and exciting intersections included:
- Hole MLDD033 intersected 16m at 4.51g/t from 411m, which was a very large 200m step out below the current resource
- New hanging wall mineralization was also discovered in hole MLJD033 with an intersection of 2m at 15.32g/t from 247m, and 8.7m at 2.43g/t from 107m and 13m at 1.00g/t from 135m in MLJDD032
- MLJRCD826 intersected a 40m thick breccia zone from 270m-310m, which visually looks very promising and has assays pending
- MLJRCD826 is a large step out and is outside the current resource which augers well for the next resource upgrade
- MLJRCD802 intersected the company’s best intersection to date, of 133m at 2.87g/t from 173m, which includes 61m at 4.68g/t from 243m (1m splits)
- MLJDD034 intersected 6.8m @12.06g/t from 151m (contained within a 11.5m zone with 4.8m of core loss) in a gossanous chert breccia
The multiple thick intersections which often contain silica-pyrite and breccia alteration, are up to 50m thick. These are mainly within a 250m long central zone, which is still open to the south and east.
The central part of the 800m long LJN4 deposit has been infill drilled with very promising results.
For further information, please visit: www.magres.com.au
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