Manuka Resources Limited (ASX: MKR) announced that the recent drilling programs at the Company’s Mt Boppy gold deposit at Canbelego, NSW have resulted in a 23% increase in contained ounces and a 20% increase in grade.
The company reported that the Resource Update in all categories totals 362,430 tonnes @ 4.62g/t Au for a total contained 53,870oz Au, based on the gold assay results received and modelled to date.
Drilling at Mt Boppy
Manuka had undertaken four drill programs since its IPO to test the extent of high-grade mineralisation beneath the Mt Boppy designed pit.
MKR said that a comprehensive 3,139m grade control drilling program at an average 10m spacing within the existing Mt Boppy pit was completed in November 2020, to confirm the extent of gold ore remaining within the current designed pit.
The company said that assays were received from three of the four programs thus far. Manuka said that the received results from the drill programs were incorporated into an update of the Mt Boppy Resource by Mining Associates P/L.
Resource estimation at Mt Boppy
The company said that estimates were constrained by DTM planes representing breaks in grade tenor, three domains were created the northern, southern, and deep domains.
Following completion of mining at Mt Boppy, resource definition for the Mt Boppy MLs focused on remaining material below the Black Oak Minerals pit. MKR undertook drilling programs designed to intersect high the grade lodes beneath the open pit.
The company said that resources were updated by Mining Associates in May 2016, 6 additional RC holes were drilled and the resource updated for September 2016, the MA 2021 model using all grade control and exploration drilling to date was reported to the same parameters as the previous report for direct comparison.
MKR said that based on the gold assay results received and modelled to date, the Resource Update in all categories has now been reported.
Resource upgrade – increase in size and grade
Manuka Resources announced that the Resource Update in all categories totals 362,430 tonnes @ 4.62g/t Au for a total contained 53,870oz Au at Mt Boppy.
Measured, Indicated Category
The company reported that the updated Resource has 207,230 tonnes @ 4.89g/t Au in the Measured Category for a subtotal of 32,570oz Au, 144,200 tonnes @ 4.15g/t Au in the Indicated Category for a subtotal of 19,300oz Au & 11,000 tonnes @ 6.7g/t in the Inferred Category for a sub total of 2,000oz Au.
The company said that the Mt Boppy Resource Update is a 23% increase in contained ounces vs the last reported JORC Resource (September 2016) and around a 20% improvement in grade. MKR noted that this calculation excludes the circa 16,000oz Au equivalent depletion (already mined from Mt Boppy) following the September 2016 Resource.
MKR said that within the current pit design, the Measured and Indicated Resource now totals 217,580 tonnes @ 4.19g/t Au, containing 29,320 ounces Au while below the current pit design, the Measured, Indicated and Inferred Resource now totals 144,850 tonnes @ 5.27g/t Au, containing 24,550 ounces Au (with a 3.0g/t cut off).
Further upside possible
MKR said that the assay results of the fourth ‘below pit’ drill program, due in late February 2021, could yield further upside to the Mt Boppy Resource. The company said that there is scope for further definition of high grades that extend below the current planned pit floor.
* Image courtesy of Manuka Resources Limited