Metal Bank has announced a maiden inferred mineral resource for its newly discovered Flori’s Find gold deposit at the 8 Mile Project in south-east Queensland.
Located 18km along strike from Evolution Mining’s Mount Rawdon gold mine, the shallow Flori’s Find deposit offers strong potential for rapid evaluation and further growth, the company says.
The inferred mineral resource is 195,000 tonnes at 2.4g/tonne gold (using a 1g/t cut-off).
Metal Bank says that the mineralisation remains open in all directions, with significant strike extent beyond the drilling supporting an exploration target for the immediate area.
The maiden resource and exploration target are in addition to a previously identified potential bulk tonnage target to the immediate west at Perry prospect.
“This adds an exciting new dimension to the 8 Mile project. Flori’s Find prospect has many similarities with the characteristics of the nearby Mount Rawdon gold deposit and we have moved quickly to establish a robust shallow exploration target estimate in support of an open-pit
scenario after the initial discovery late last year,” executive chair Ines Scotland said.
“We are encouraged that grade and widths appear to be increasing with depth as we move towards the main gold mineralised intrusion in this shallow dipping deposit, with the added potential for a bulk tonnage target to the west of the exploration target.”
A follow-up drill program has been designed focusing on the evaluation
of the Flori’s Find exploration target.
Metal Bank said its drilling contractors would commence the program as soon as isolation and travel restrictions currently in place due to the coronavirus had been lifted.