$This NR confirms that Costerfield = Fosterville at depth, where gold at depth is in high grade veins in quartz with stibnite largely absent.
This implies that the gold is all free gold recoverable at 90 percent plus recovery through the gravity circuit.
10,000 square meters times an average of 66.45 g/t over a 1.8 meter mining width based on 6 holes equates to about 115,000 ounces of free gold over the Eastern Vein, while
20,000 square meters times an average of 12.2 g/t over a 1.8 meter mining width based on 4 holes equates to another 42,000 ounces of free gold at the Western Vein.
Since these results are based on two drilling platforms confirming these high grade gold intercepts from two different angles, small wonder why the company has accelerated its exploration drilling program.
This reminds me of Crocodile Gold, except in the case of Mandalay Resources, 80 percent of the stock is in the hands of large institutional firms.
Yet their market makers are still capping this stock at $2.00 USD per share, and hoping that retail investors would cough up their shares at that bottom basement price.