$bigone thanks; 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....
$Mandalay Resources Extends the Newly Discovered Shepherd Zone and Provides Update on the Costerfield Mineral System June 8, 2021
Mandalay Resources Extends the Newly Discovered Shepherd Zone and Provides Update on the Costerfield Mineral System T.MND | 7 hours ago
Eastern and Western veining horizons are extended in the Shepherd Zone, with numerous high-grade gold intercepts along a 400 metre strike extent TORONTO, June 08, 2021 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to provide an update on the newly discovered Shepherd Zone at its Costerfield Operation in Victoria, Australia. The Eastern vein has now been traced over 300 metres (“m”) of strike length and approximately 100 m in vertical extent. The mineralization remains open to the south and at depth (Figure 2).
The Western vein has now been traced over 400 m of strike length and approximately 100 m in vertical extent and remains open to the south and at depth (Figure 4).
$New Drilling Highlights:
Eastern Veining
172.3 g/t gold over true width of 0.27 m in BC213; and 69.5 g/t gold over true width of 1.11 m in BC210 including: 406.0 g/t gold over true width of 0.14 m Western Veining
33.7 g/t gold over true width of 3.22 m in BC201 including: 127.0 g/t gold over true width of 0.69 m ; 712 . 8 g/t gold over true width of 0.10 m in BC205; and 19.4 g/t gold over true width of 4.84 m in BC210 including: 657.3 g/t gold over true width of 0.13 m
So in the coming weeks and months when you see MND going from its current price to over $10 USD per share, it will be because big money knows this is another FOSTERVILLE and they will reprice the stock after the last of the small retail investors are out.
IMHO the current yoyo trading action is a few market makers trying to pick off the last of the few remaining loose shares. by ganndolph1 (174) sth.
$Costerfield = Fosterville = BESIDE KIRKLAND LAKE GOLD MINE = WHY KL SHOULD BUY IT = at depth, where gold at depth is in high grade veins in quartz with stibnite largely absent.
$The following link shows the Mandalay Resources drilling addressed in the news release.
$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.
$MAJOR PRODUCTION UPLIFT, STABLE OPERATIONS GROWING PRODUCTION from 81,568 oz gold equivalent in 2018 to 105-117,000 AuEq oz in 2021
$COSTERFIELD GOLD & ANTIMONY MINE IN AUSTRALIA -
Significant production growth expected via Youle vein Deep hole drilling below Youle and Cuffley
Testing shallow targets around old-workings
Target and generative testing focus in 2021
$BJÖRKDAL GOLD MINE, SWEDEN -
Step change in underground production. Increasing underground production with higher-grade ore from Aurora zone.
HIGH-POTENTIAL EXPLORATION UPSIDE
CONTINUING REGIONAL EXPLORATION
programs on known targets; seeking repetition of mineralization
BJÖRKDAL
Extensional drilling at aurora Defining mineralization and assessing the economics of the high-grade skarn deposit
FULLY-FUNDED
Cash position of $34.2M at 2020 year-end affords Mandalay with the financial flexibility to continue funding its exploration programs and sets the Company up for future profitability and growth
COSTERFIELD High-grade Youle vein the major growth catalyst
BJÖRKDAL Ramping up underground production, focusing on higher-cash margin ore
2021 GUIDANCE LATEST PRESENTATION Q4 2020 PRODUCTION REPORT Q4 AND YE2020 FINANCIAL 2020 RESERVES AND RESOURCES