Mantle Minerals Completes RC Drilling at Mount Berghaus and Roberts Hill
MTL (MTL) Share Update October 2024 Tuesday 29th
Mantle Minerals Completes RC Drilling at Key Sites
Mantle Minerals Limited (ASX:MTL) has successfully completed its first deep reverse circulation (RC) drilling program at the Mount Berghaus and Roberts Hill sites, aiming to uncover significant gold mineralization.
Instant Summary:
- RC drilling program targets 'Hemi-Style' intrusive systems.
- Eleven RC holes drilled, totaling 1,854 meters.
- Results expected to be announced in November 2024.
Drilling Program Overview
Mantle Minerals has completed a significant RC drilling program at its Mount Berghaus and Roberts Hill sites, located near the prolific HEMI deposit. The program aimed to test for 'Hemi-Style' intrusive systems beneath oxidized aircore gold intersections.
The maiden RC drilling at these sites involved eleven holes, totaling 1,854 meters. The drilling was designed to explore gold mineralization from previous aircore drilling results, which showed promising signs of gold presence in the basement rocks.
Technical Details
The drilling program was executed using evaluation methods similar to those employed by De Grey Mining Limited. The holes were strategically placed to intersect potential gold-bearing zones, with most holes reaching a planned depth of 200 meters.
Table 1 in the announcement provides detailed coordinates and depths of each hole drilled, while Table 2 summarizes intersections with over 0.5 grams per tonne of gold from earlier aircore drilling.
Expected Outcomes
Mantle Minerals anticipates releasing the results of this drilling program in November 2024. The company is optimistic about the potential for discovering significant gold mineralization, similar to other deposits found in the region.
The completion of the RC drilling program is a positive step for Mantle Minerals, potentially leading to discoveries that could enhance the company's resource base. If significant gold mineralization is confirmed, it could positively impact the company's stock price and attract investor interest.
Investor Reaction:
Analysts are likely to view the completion of the drilling program as a positive development. However, the market will be keenly awaiting the results in November to gauge the potential impact on Mantle's valuation.
Conclusion:
Investors should keep an eye on Mantle Minerals' upcoming announcements for drilling results. These results could provide insights into the company's future prospects and influence investment decisions.