GlobeNewswire

Mandalay Resources Corporation Announces Update on Youle Vein Drilling Program at Costerfield Mine, Australia

Dela

TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:MND) (OTCQB:MNDJF) is pleased to provide an exploration update from recent diamond drilling on the emerging Youle vein at its Costerfield operation in Victoria, Australia.

The most recent drilling results from the Youle vein since Mandalay's press release of April 3, 2018 further demonstrate that mineralization of the vein system remains continuous at depth. The currently known strike of Youle extends 600 m and has a vertical depth of 150 m.

Highlights from the recent Youle drilling include the following intercepts:

  • BC020: 0.27m @ 165.1 g/t Au and 20.7% Sb (30.2 g/t AuEq @ 1.8m mining width)
  • BC023: 0.16m @ 551.0 g/t Au and 25.6% Sb (54.3 g/t AuEq @ 1.8m mining width)
  • BC023W1: 0.38m @ 148.7 g/t Au and 8.8% Sb (34.2g/t AuEq @ 1.8m mining width)
  • BC031: 0.41m @ 108.1 g/t Au and 22.4% Sb (33.5 g/t AuEq @ 1.8m mining width)

Dominic Duffy, President and Chief Executive Officer of Mandalay commented, "The Youle discovery is extremely exciting for Mandalay, as our drilling campaign continues to demonstrate consistent, high-grade results that share a similar structural setting to the previously mined Augusta and Cuffley Lodes. Mandalay's current infill drilling program and related studies are being undertaken with the intention of delivering Mineral Reserve additions from Youle in our 2018 year-end Mineral Resources and Reserves update. The high grades, along with the fact that the Youle vein is in relatively close proximity to where we are currently mining, provides good potential for it to be the next viable ore source for Mandalay at Costerfield."

Mr. Duffy concluded, "The Youle discovery has the strong potential to continue Mandalay's trend of continuous Mineral Reserve replacement at Costerfield over the past eight years and demonstrates the remarkable prospectivity of the district. Mandalay will be looking to increase its brownfields exploration spending in 2019 with the aim of making further discoveries."

Figure 1: Youle Drilling - Plan and Long Section

A figure accompanying this announcement is available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/174033ce-7836-4b37-b15b-985f0f2347b8

Note:

- True width is preliminary estimate only and may not reflect final true width used in resource estimation

- AuEq(g/t) = Au(g) + Sb(5) x (Price per 10 Sb (kg) x Sb Recovert (%) / Price per 1 Au (g) x Au Recovery (%))

Figure 2: Youle Drilling - Schematic Cross Section

A figure accompanying this announcement is available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/eb2b8fff-9be5-47ab-99dc-822c10f1511b

Drilling details for Youle are found in the table below:

Table 1: Youle Drilling Results (April 2018 to June 2018)

Hole ID Hole Completion Date Total hole Depth Intercept Easting (Mine Grid) Intercept Northing (Mine Grid) Intercept Elevation (Mine Grid) Drilled Width (m) True Width (m) Au Grade (g/t) Sb Grade (%) AuEq (g/t) over min. 1.8m mining width
BC020 10/04/2018 399.9 15395 6887 915 0.33 0.27 165.1 20.7 30.2
BC022 4/04/2018 600.0 15339 7035 788 0.10 0.09 37.0 10.0 2.7
BC023 24/04/2018 500.9 15329 7109 757 0.20 0.16 551.0 25.6 54.3
BC023W1 17/05/2018 458.5 15352 7114 792 0.49 0.38 148.7 8.8 34.2
BC025W1 15/05/2018 497.9 15324 6947 815 0.52 0.49 50.3 4.9 16.1
BC027 10/05/2018 431.0 15337 6853 837 0.13 0.12 12.1 4.1 1.3
BC029W1 29/05/2018 422.5 15349 6881 863 0.45 0.40 33.8 24.0 16.8
BC030 8/06/2018 404.4 15370 6885 889 0.14 0.13 13.5 9.4 2.2
BC031 29/05/2018 441.1 15365 6781 917 0.43 0.41 108.1 22.4 33.5
BC032W1 25/05/2018 381.0 15368 6962 863 0.34 0.33 73.1 16.0 18.6
BC033 15/06/2018 440.5 15373 6935 882 0.32 0.29 22.3 19.5 9.2


Infill drilling over the next six months is aimed at demonstrating the economic potential of the central portion of Youle, by drilling at hole spacing of approximately 40 m. The Company also expects to carry out extension drilling along strike and at depth with the goal of extending mineralization to a depth of 700 RL. This program is expected to comprise 37 holes.

Youle Drill Campaign History

Mandalay has drilled 39 diamond holes into the historic Costerfield mine area in three campaigns (2011, 2014 and 2017-present). The Company reported significant early results from the Youle drill program in July 2017 (see Mandalay July 24, 2017 press release) and in April 2018 (see Mandalay April 3, 2018 press release). Drilling was accelerated in late 2017. This program has continued over 2018 and Mandalay is accelerating its efforts to bring Youle into Mineral Reserves in the Company's year-end 2018 Mineral Reserves and Resources update.

Drilling and Assaying

Diamond drill core was logged and sampled by Costerfield geologists. All samples were sent to Onsite Laboratory in Bendigo, Victoria, Australia, for sample preparation and assay. Site geological and metallurgical personnel have implemented a QA/QC process that includes the regular submission of standard reference materials and blanks with drill and face samples submitted for assay. Standard reference materials have been certified by Geostats Pty Ltd. (see March 29, 2018, Technical Report entitled "Costerfield Operation, Victoria, Australia NI 43-101 Report", available on SEDAR (www.sedar.com) and the Company's website (www.mandalayresources.com), which contains a complete description of drilling, sampling, and assaying procedures.)

Qualified Person:

Chris Gregory, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Member of the Australian Institute of Geoscientists (AIG), and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.

For Further Information

Dominic Duffy
President and Chief Executive Officer

Greg DiTomaso 
Director of Investor Relations

Contact: 
647.260.1566

About Mandalay Resources Corporation

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The Company is focused on executing a roll-up strategy, creating critical mass by aggregating advanced or in production gold, copper, silver and antimony projects in Australia, the Americas, and Europe to generate near-term cash flow and shareholder value.

Forward-Looking Statements:

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the Company's production of gold, silver and antimony for the 2018 fiscal year. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading "Risk Factors" in Mandalay's annual information form dated March 29, 2018, a copy of which is available under Mandalay's profile at www.sedar.com. In addition, there can be no assurance that any inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mandalay Resources Corporation via Globenewswire

Om

GlobeNewswire



Följ GlobeNewswire

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från GlobeNewswire

Arcoma AB: Investerarmöten våren 201915.2.2019 08:46:00Pressmeddelande

15 februari 2019 PRESSRELEASE Arcoma har som ambition att fortsätta öka sitt aktieägarfokus och kontinuerligt förbättra kommunikationen med aktieägare. Under våren 2019 kommer Arcoma medverka på flertalet investerarmöten där aktuella händelser och aktiviteter presenteras. Här ges en ökad inblick i bolagets vision och strategier samt en möjlighet till att ställa frågor till bolagets ledning. SvD Börsplus Temadag "Dubblare" Dag, tid och plats: 5 mars, kl. 13.00, GT 30, Grev Turegatan 30, Stockholm Stockholm Corporate Finance Life Science event Dag, tid och plats: 14 mars, kl. 07.30, Berns, Kammarsalen, Stockholm Redeyes Medtech & Diagnostics event Dag, tid och plats: 14:e maj, Redeye, Mäster Samuelsgatan 42, Stockholm För ytterligare information, vänligen kontakta: Arcomas VD Jesper Söderqvist, Telefon: +46 470 70 69 81, E-mail: jesper.soderqvist at arcoma.se Om Arcoma Arcoma, med lång erfarenhet av branschen, är en ledande leverantör av integrerade digitala röntgensystem med hög kvalite

Corline Biomedical AB: Första patient doserad med Renaparin®15.2.2019 08:42:00Pressmeddelande

Corline Biomedical AB ("Corline" eller "Bolaget") meddelar idag att man inkluderat första patienten i fas 1-studien RENAPAIR 01. Patienten inkluderades vid transplantationsavdelningen på Uppsala Akademiska sjukhus. Renaparin® är en produkt under utveckling för att förbättra njurtransplantation. I Corlines studie RENAPAIR 01 utvärderas produkten med avseende på tolerabilitet och säkerhet. Studien öppnades för patientrekrytering i slutet av 2018 och första patient är nu doserad och inkluderad i studien. Totalt skall 18 patienter rekryteras och när de 4 första patienterna är utvärderade i Uppsala, öppnas också Karolinska Universitetssjukhuset i Huddinge för rekrytering till studien. Henrik Nittmar, VD i Corline Biomedical AB, kommenterar "Det händer mycket i Corline för tillfället och alla arbetar hårt för att målbilden i bolaget skall uppfyllas. Det gäller såväl vår interna organisation som våra externa samarbetspartners. Därför är det extra roligt när vi når avgörande milstolpar i utvec

Corline Biomedical AB: Rekryterar Lars Olsson som Head of CMC14.2.2019 12:44:00Pressmeddelande

Corline Biomedical AB ("Corline" eller "Bolaget") meddelar idag att man rekryterat Lars Olsson till den nyinrättade tjänsten som Head of CMC (Chemistry, Manufacturing & Control). Lars Olsson hade tidigare samma tjänst hos Wilson Therapeutics AB, som under 2018 förvärvades av amerikanska Alexion. Lars Olsson kommer att ansvara för Corlines samtliga aktiviteter inom tillverkning och kontroll relaterat till bolagets läkemedelsprodukter, med särskilt fokus på Renaparin® inför kommande fas 2- och fas 3-utveckling. I slutet av 2018 meddelade Corline att patientrekryteringen startar i bolagets fas 1-studie RENAPAIR 01, där produkten Renaparin®, som är under utveckling för att förbättra utfallet av njurtransplantation, utvärderas med avseende på tolerabilitet och säkerhet. Därmed tog en ny utvecklingsfas vid i bolaget i vilken alltmer resurser fokuseras på att förbereda den fortsatta kliniska utvecklingen av produkten genom fas 2 och fas 3 i syfte att slutligen kunna registrera produkten för k

Arcoma AB: Canon och Arcoma tecknar distributörsavtal för Turkiet14.2.2019 10:38:00Pressmeddelande

14 februari 2019 Canon Medical Systems i Turkiet och Arcoma har tecknat ett distributörsavtal som gör att Canon kommer att kunna sälja Arcomas produkter i Turkiet från och med den 15 februari 2019. Canon är sedan tidigare återförsäljare för Arcomas produkter i Nordamerika och utvalda länder i Europa. Detta samarbete utökas nu till Turkiet som är det första land i Canons Asien organisation att välja Arcoma som en formell partner. "Att vi stärker och formaliserar samarbetet med Canon även i Turkiet är ännu ett erkännande av Arcoma som leverantör av högkvalitativa röntgensystem. Canon i Turkiet förbereder ett flertal större upphandlingar till sjukhus där Arcomas lösningar ingår. Avtal som detta ingår i Arcomas strategi att utöka med nya försäljningskanaler och att expandera till nya länder för att skapa framtida tillväxt." kommenterar Arcomas VD, Jesper Söderqvist. För ytterligare information, vänligen kontakta: Arcomas VD Jesper Söderqvist, Telefon: +46 470 70 69 81, E-mail: jesper.soder

Karolinska Development's portfolio company OssDsign raises SEK 64m and aims for listing on Nasdaq First North12.2.2019 09:00:00Pressmeddelande

STOCKHOLM, February 12, 2019. Karolinska Development's portfolio company OssDsign announces today the closing of a private placement of SEK 64 million. Swedish private investors and the French investment management company Alto Invest have taken part in the private placement. OssDsign will now begin the process towards a listing on Nasdaq First North in 2019. The proceeds from the private placement will be used for continued sales expansion in Europe and the US of OssDsign regenerative implant solutions for improved healing of bone defects. Moreover, funds will be used for entering new markets, primarily preparing for market introduction in Japan where the company in parallel to the regulatory process will initiate pre marketing activities. With ethical committee approval already in place, leading surgeons in Japan can start building experience with the OssDsign technology prior to regulatory approval and launch. OssDsign prepares for a listing on Nasdaq Stockholm First North in 2019.

Karolinska Development's portfolio company OssDsign raises SEK 64m and aims for listing on Nasdaq First North12.2.2019 09:00:00Pressmeddelande

STOCKHOLM, February 12, 2019. Karolinska Development's portfolio company OssDsign announces today the closing of a private placement of SEK 64 million. Swedish private investors and the French investment management company Alto Invest have taken part in the private placement. OssDsign will now begin the process towards a listing on Nasdaq First North in 2019. The proceeds from the private placement will be used for continued sales expansion in Europe and the US of OssDsign regenerative implant solutions for improved healing of bone defects. Moreover, funds will be used for entering new markets, primarily preparing for market introduction in Japan where the company in parallel to the regulatory process will initiate pre marketing activities. With ethical committee approval already in place, leading surgeons in Japan can start building experience with the OssDsign technology prior to regulatory approval and launch. OssDsign prepares for a listing on Nasdaq Stockholm First North in 2019.

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum