Metal Bank says a large gold system is emerging at its 8 Mile Project, near Queensland’s Mt Rawdon mine.
The company has received results from a reverse circulation and diamond drilling program designed to investigate near-surface gold mineralisation and investigate initial targets interpreted in the IP geophysical data.
“These early results are exceptional with both the Flori’s Find and Perry prospects quickly evolving into two significant gold systems located 2km apart along the same structural corridor,” managing director Tony Schreck said.
Results from a single step back hole at Flori’s Find included 16m at 1.9g/t gold from 69m.
While the 8 Mile project is the focus of exploration activities, Metal Bank says it is also pursuing options to advance the Triumph and Eidsvold projects, including potential joint venture arrangements.