Perth, Australia, Sep 16, 2011 - (ABN Newswire) - Australian gold-copper resources company, Mutiny Gold Limited (ASX:MYG.AX), is pleased to announce significant new high-grade gold intersections from the West Lode of its Deflector Gold Deposit.
The latest results were received from Mutiny's recently completed diamond drilling program into the Deflector Deposit extensions. These results will be incorporated into the revised resource estimation, which is expected to be released in the coming weeks.
Deflector Diamond Drill Results
A diamond drill programme of 30 holes was carried out to enable the upgrade of the resources within the proposed area of initial underground mining at the Deflector Deposit. The results are presented in Table 2 (see link at the bottom of the release) for all intersections of 1m greater than 0.5g/t Au or 0.5% Cu.
Notable intersections include:
- 3.6m @ 153g/t Au and 13.3% Cu from 145m in 11DD1A;
- 12m @ 3.4g/t Au and <0.1% Cu from 262m in 11DD04;
- 3m @ 47.6g/t Au and 1.5% Cu from 249m in 11DD15;
- 4m @ 17.4g/t Au and 1.2% Cu from 300m in 11DD16A
- 3m @ 22.8g/t Au and 1.2% Cu from 282m in 11DD17;
- 3m @ 18.1g/t Au and 0.3% Cu from 292m in 11DD17;
- 3m @ 18.8g/t Au and 0.8% Cu from 316m in 11DD18
- 6m @ 20.9g/t Au and 0.3% Cu from 255m in 11DD27;and
- 4m @ 6.2g/t Au and 0.5% Cu from 308m in 11DD29.
Multiple intersections were achieved within some holes, as a number of parallel lodes are present at depth within the deposit.
The positions of intersections within the main West Lode are shown on Figure 2 (see link at the bottom of the release), a long-section of the lode. Holes 11DD5, 6, and 12 are not shown, as they did not reach the West Lode.
Of particular significance:
- The intersection of 3m @ 153g/t Au and 3.3% Cu in 11DD1A, the northernmost diamond hole implies that high-grade Au-Cu mineralisation is open below 130m vertical depth (150m RL) .for at least 150m to the north of 19500N.
- High-grade intersections achieved at vertical depths of the order of 215m to 270m indicate that significant mineralisation persists at depth.
- The intersection of 6m @ 20.9g/t Au in 11DD27, drilled 600m to the south of 11DD1A, indicates the length of the deposit within which high-grade mineralisation can be expected to be present at depth. For at least 100m to the south of 19000N, this high-grade Au-Cu mineralisation is open below 130m vertical depth (150m RL).
The Company plans to commence production with an open pit mining operation at the Deflector Deposit, followed by underground mining after two years.
The currently known Deflector Gold-Copper deposit contains Mineral Resources of 3.4Mt @ 5.4g/t gold, 4.7g/t silver and 0.8% Copper for 590,000oz gold, 510,000oz silver and 25,500t copper of which Measured and Indicated Resources total 1.5Mt @ 4.8g/t gold, 6.4g/t silver and 1.1% copper for 235,000oz of gold, 310,000oz silver and 16,500t of copper.
For the complete Mutiny Gold Limited announcement including figures, please view the following link:
About Mutiny Gold Limited:
Mutiny Gold (ASX:MYG.AX) is a diversified resource company focused on the exploration and development of its flagship Deflector gold / copper project, within the Gullewa tenements located in the South Murchison region of Western Australia.
The Company also has significant nickel tenements in Western Australia as well as iron ore potential at its Gullewa tenements.
Mutiny plans to commence production in 2012 with an open pit mining operation at the Deflector Deposit, followed by underground mining after two years.
John Greeve Managing Director Mutiny Gold Limited Tel: +61-8-9368-2722 Email: email@example.com http://www.mutinygold.com.au
Mutiny Gold Limited
Copyright (C) 2011 ABN Newswire. All rights reserved.