Anglo Australian Resources is set to ramp up exploration of its Mandilla gold project south of Kalgoorlie, Western Australia, after securing commitments for a $1.4 million share placement priced at 6.5 cents. Proceeds from the placement will also be used for further infill drilling and ongoing feasibility study work for the company’s flagship Feysville gold project also near Kalgoorlie.
Anglo Australian Resources is set to ramp up exploration of its Mandilla gold project south of Kalgoorlie, Western Australia, after securing commitments for a $1.4 million share placement.
The company plans to sample and assay core from sections of the diamond holes not previously tested to provide a clearer picture of the extent of gold mineralisation.
It will also start a 30-hole reverse circulation drilling program totalling about 5,000 metres, carry out geological work to develop an understanding of the controls on the extensional vein array at the Mandilla East prospect and investigate the new alteration style gold mineralisation at Mandilla South.
Proceeds from the placement of about 21 million shares priced at 6.5 cents will also be used to carry out further infill drilling and ongoing feasibility study work at its flagship Feysville project near Kalgoorlie.
Last month, the company generated encouraging bedrock gold intersections at the Mandilla East and Mandilla South prospects within the Mandilla project.
At Mandilla East, multiple intercepts of high-grade gold were outlined beneath an existing supergene-enriched blanket of mineralisation, including 2.7 metres grading 46.1 grams per tonne gold from 123.3m down-hole, incorporating a metre intersection going nearly 4 ounces to the tonne gold from 124.3m.
Further significant results from this same drill hole turned up 1.2m @ 24.8g/t from 65.8m, 4m @ 7.1g/t gold from 87.5m and a metre intersection that assayed 29.1g/t gold from 115m.
Over at Mandilla South, a diamond drill hole intersected a metre at 7.8g/t gold from 70m down-hole, 6m @ 3.6g/t gold from 98m and 1m @ 16.8g/t gold from 179m in this hole.
Further assay results from the deeper part of this hole are still pending.
Meanwhile, recent drilling at the Feysville project has confirmed that the supergene gold mineralisation at the Think Big prospect is relatively continuous over 200 metres of strike and up to 80 metres in width.
Think Big has a mineral resource of 2.86 million tonnes @ 1.3g/t gold for 116,100 ounces of contained gold.