Mandalay Resources Corporation Announces Recent Drilling Results For Aurora (Björkdal), Highlighting High-Grade Extensions to Both the East and at Depth
TORONTO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to provide an update on encouraging results from the Aurora extension and delineation drill programs at its Björkdal mine. These results highlight the open nature of the plunge extensions and an emerging new high-grade domain.
Aurora Drilling Highlights
Extensional drilling to the east and down plunge:
- 4.8 g/t goldover a true width of2.47m in MU20-007; and
- 2.7g/t goldover a true width of2.82m in MU20-016
Definition drilling to the east:
- 8.1g/t goldover a true width of 2.99m in DOD2020-063; and
- 3.0 g/t gold over a true width of 3.45m in DOD2020-073
Surrounding veining highlights:
- 14.5 g/t gold over a true width of 2.92m in DOD2020-060; and
- 38.7 g/t gold over a true width of 0.59m in DOD2020-074; and
- 55.6 g/t gold over a true width of 0.28m in MU20-018
Note: A full listing of significant drilling composites can be found in Tables 1 and 2 at the bottom of this document.
Dominic Duffy, President and Chief Executive Officer of Mandalay, commented, “We are pleased to report continued encouraging results from the Aurora extension program. These results come at a time when ore production from Aurora is ramping up and becoming the most significant ore source for Björkdal.”
Mr. Duffy continued, “With the exceptional grades seen at Aurora, its extension - both to the east and west - represents an important incremental step for Björkdal providing the foundation to bolster overall feed grade and extend mine life. We are also encouraged by some very high-grade intercepts of veins in close proximity to Aurora which will also be a focus of additional drilling going forward.”
Mr. Duffy continued, “With the current exploration focus turned to strategic development of other targets within Björkdal, we look forward to continuing the Aurora expansion program in early 2021.”
Mr. Duffy concluded, “Alongside this exploration release, a video has been prepared by Mr. Chris Davis, Vice President of Operational Geology and Exploration to further illustrate the detail in this press release, I would like to invite everyone to view the posted video here.”
Aurora Extensional Drilling
The Aurora Extensional Drilling has continued since Mandalay’s last Aurora update in June 2020. To the east MU20-016 returned an intercept of 2.82 m @ 2.7 g/t Au, indicating the plunge extent of Aurora is still open at depth. This was supported by MU20-013 with a reasonably well mineralized array of veining over 3.02 m at 1.6 g/t Au, typical of Aurora, intercepted approximately 60 m above. Higher in the system there has been a reinterpretation of Aurora veining due to new information mining and other drilling results. As a consequence MU20-007 was reinterpreted to include a high-grade composite of 2.47 m at 4.8 g/t Au that, combined with another previously reported intercept (MU20-018 at 7.21 m at 2.5 g/t Au) to the north, highlights a new enriched domain open to the east (see Figure 2).
Further drilling to the east within holes MU20-030 and MU20-032 did not intercept significant mineralization along the interpreted Aurora continuation however in both cases the footwall veining was enriched with 0.25 m at 23.5 g/t Au in MU20-030 and 0.96 m at 12.4 g/t in MU20-032 (see Figure 1). This could indicate a jump across structures of the gold endowment or an as yet unrecognised offset to the main Aurora structure. These results represent the furthest intercepts yet drilled to the east. Continuation of the extension campaign is expected in early 2021.
As well as delineating and extending Aurora the drilling is providing grade information on the stacked set of veins that exist in both the footwall and hanging wall. As seen in MU20-30 and MU20-32, these veins are sometimes higher grade than Aurora and are an important addition to the production potential of the Björkdal mine. In the last Resource update for Björkdal, Aurora made up approximately 45% of metal in resource from veining above the marble contact with the remainder in the surrounding veining. Results from the surrounding veining within recent drilling can be found in Table 2 and illustrated within Figure 1.
Western Definition Drilling
Due to the complicated nature of the veining and gold enrichment within and around Aurora, it is necessary to undertake targeted definition drilling to optimise ore extraction. From this drilling Mandalay has discovered that the Aurora system is also open to the west with encouraging intercepts following along the Frea Fault interaction such as 3.17 m at 3.0 g/t Au in DOD2020-075 and 4.66 m at 2.1 g/t Au in DOD2020-072. In this area approximately 15 additional continuous veins exist alongside Aurora with highlights of 0.59 m at 38.7 g/t Au in DOD2020-074 and 0.37 m at 31.7 g/t in DOD2020-075. As with the extension to the east, a drilling program will focus on extension along this trend in early 2021.
Figure 1. North-South Cross Section at illustrating the location and orientation of the new intercepts surrounding Aurora between 1550 E and 1650 E is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65c1259e-a6a4-4c35-afc4-a58fe4aa3ed8. Veining and interpreted lithology is displayed at 1600 E. The DOD series of holes are drilled further to the west and are not shown on this section.
Figure 2. Longitudinal section of Aurora illustrating the location of recent extension and definition drilling results is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98b65977-3ee7-4386-a792-d98da87f9249.
Drilling and Assaying
At Björkdal, all diamond drill core was logged and sampled by Björkdal geologists. Exploration drill hole samples (prefix MU) were sent to CRS Laboratories Oy (“CRS”) in Kempele, Finland for sample preparation and assaying. Development optimization drill hole samples (prefix DOD) were prepared and assayed at the onsite laboratory ran by Minlab AB, a subsidiary of CRS (see Technical Report dated March 30, 2020 entitled “Technical Report on the Björkdal Gold Mine, Sweden”, available on SEDAR (www.sedar.com), which contains a complete description of drilling, sampling, and assaying procedures).
Assaying was conducted utilizing the Pal1000 cyanide leaching processes. Mandalay’s rigorous QA/QC program included the use of standard reference samples, blanks, duplicates, repeats, and internal laboratory quality assurance procedures.
Chris Davis, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Charted Professional of the Australian Institute of Mining and Metallurgy (MAusIMM CP(Geo)), 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
President and Chief Executive Officer
Manager, Analytics and Investor Relations
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 growing production at its gold and antimony operation in Australia, and gold production from its operation in Sweden to generate near term cash flow.
This news release contains "forward-looking statements" within the meaning of applicable securitieslaws,includingstatementsregardingtheexplorationanddevelopmentpotentialof theAuroraZone(Björkdal).Readersarecautionednotto 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,changesincommoditypricesandgeneralmarketandeconomicconditions.Thefactors identifiedabovearenotintendedtorepresentacompletelistofthefactorsthatcouldaffect Mandalay.Adescriptionofadditionalrisksthatcouldresultinactualresultsanddevelopments differingfromthosecontemplatedbyforward-lookingstatementsinthisnewsreleasecanbe foundundertheheading“RiskFactors”inMandalay’sannualinformationformdatedMarch 30, 2020, 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 additionaldrillingwilleverbeupgradedtoprovenorprobablereserves.AlthoughMandalayhas attempted to identify important factors that could cause actual actions, events or results to differmateriallyfromthosedescribedinforward-lookingstatements,theremaybeotherfactors thatcauseactions,eventsorresultsnottobeasanticipated,estimatedorintended.Therecan be no assurance that forward-looking statements will prove to be accurate, as actual results andfutureeventscoulddiffermateriallyfromthoseanticipatedinsuchstatements.Accordingly, readersshouldnotplaceunduerelianceonforward-lookingstatements.
Table 1. New Drilling Composites on Aurora
|Drill Hole ID||From (m)||To (m)||Drill Width (m)||True Width (m)||Au Grade (g/t)||Au (g/t) over min. 3m mining width||Target|
- Where True widths are greater than 3 m, grades are not diluted and are presented as the grade over the composite true width.
Table 2. New Drilling Composites Surrounding Aurora
|Drill Hole ID||From (m)||To (m)||Drilled Width (m)||True Width (m)||Au Grade (g/t)||Au (g/t) over min. 3m mining width||Description|
|DOD2020-058||71.00||72.80||1.80||1.60||2.9||1.6||Foot Wall Veining|
|DOD2020-060||73.60||77.80||4.20||2.92||14.5||14.1||Foot Wall Veining|
|DOD2020-060||115.00||115.35||0.35||0.25||9.5||0.8||Hanging Wall Veining|
|DOD2020-061||52.55||60.10||7.55||6.51||2.6||2.6||Foot Wall Veining|
|DOD2020-061||97.30||97.70||0.40||0.31||8.9||0.9||Hanging Wall Veining|
|DOD2020-063||133.80||134.10||0.30||0.19||57.4||3.6||Hanging Wall Veining|
|DOD2020-072||83.80||84.75||0.95||0.92||9.7||3.0||Foot Wall Veining|
|DOD2020-072||116.10||116.50||0.40||0.31||5.9||0.6||Foot Wall Veining|
|DOD2020-072||157.75||158.75||1.00||0.78||4.8||1.3||Hanging Wall Veining|
|DOD2020-072||187.55||188.10||0.55||0.50||7.6||1.3||Hanging Wall Veining|
|DOD2020-072||191.50||192.00||0.50||0.49||3.8||0.6||Hanging Wall Veining|
|DOD2020-073||48.05||48.65||0.60||0.59||5.8||1.1||Foot Wall Veining|
|DOD2020-073||64.50||64.85||0.35||0.31||6.3||0.6||Foot Wall Veining|
|DOD2020-073||153.15||153.60||0.45||0.44||3.8||0.6||Hanging Wall Veining|
|DOD2020-073||178.05||179.65||1.60||1.59||4.9||2.6||Hanging Wall Veining|
|DOD2020-073||185.70||186.00||0.30||0.21||24.3||1.7||Hanging Wall Veining|
|DOD2020-074||32.70||33.30||0.60||0.59||38.7||7.6||Foot Wall Veining|
|DOD2020-074||131.95||132.35||0.40||0.39||16.0||2.1||Foot Wall Veining|
|DOD2020-074||153.70||156.10||2.40||2.15||2.0||1.4||Hanging Wall Veining|
|DOD2020-074||165.90||167.75||1.85||1.80||3.5||2.1||Hanging Wall Veining|
|DOD2020-074||185.60||185.95||0.35||0.34||6.1||0.7||Hanging Wall Veining|
|DOD2020-075||31.60||32.05||0.45||0.42||5.6||0.8||Foot Wall Veining|
|DOD2020-075||52.75||53.10||0.35||0.34||7.7||0.9||Foot Wall Veining|
|DOD2020-075||77.00||77.35||0.35||0.33||5.1||0.6||Foot Wall Veining|
|DOD2020-075||108.75||109.10||0.35||0.31||9.3||1.0||Foot Wall Veining|
|DOD2020-075||123.20||124.60||1.40||1.29||3.2||1.4||Foot Wall Veining|
|DOD2020-075||170.15||170.65||0.50||0.34||10.3||1.2||Hanging Wall Veining|
|DOD2020-075||180.80||181.20||0.40||0.37||31.7||3.9||Hanging Wall Veining|
|DOD2020-075||190.25||190.60||0.35||0.31||13.3||1.4||Hanging Wall Veining|
|DOD2020-076||29.88||30.25||0.37||0.27||6.1||0.5||Foot Wall Veining|
|DOD2020-076||51.40||52.83||1.43||1.36||1.8||0.8||Foot Wall Veining|
|DOD2020-076||103.00||103.35||0.35||0.29||7.4||0.7||Foot Wall Veining|
|DOD2020-076||117.30||117.65||0.35||0.27||12.4||1.1||Foot Wall Veining|
|DOD2020-076||126.15||126.50||0.35||0.32||6.5||0.7||Foot Wall Veining|
|DOD2020-076||157.20||157.70||0.50||0.31||5.6||0.6||Hanging Wall Veining|
|DOD2020-076||163.00||164.45||1.45||1.38||3.3||1.5||Hanging Wall Veining|
|DOD2020-076||183.35||183.70||0.35||0.31||15.0||1.6||Hanging Wall Veining|
|DOD2020-076||196.30||199.30||3.00||2.69||2.1||1.9||Hanging Wall Veining|
|DOD2020-076||201.65||202.00||0.35||0.31||5.1||0.5||Hanging Wall Veining|
|DOD2020-097||111.25||112.25||1.00||0.78||3.5||0.9||Foot Wall Veining|
|DOD2020-097||166.15||166.80||0.65||0.37||7.9||1.0||Hanging Wall Veining|
|DOD2020-099||112.90||113.75||0.85||0.70||4.0||0.9||Hanging Wall Veining|
|DOD2020-099||139.55||139.95||0.40||0.29||11.2||1.1||Hanging Wall Veining|
|MU20-007||229.30||230.00||0.70||0.61||2.7||0.6||Foot Wall Veining|
|MU20-008A||320.05||321.95||1.90||1.90||1.4||0.9||Foot Wall Veining|
|MU20-009A||327.05||329.00||1.95||1.07||14.5||5.2||Foot Wall Veining|
|MU20-009A||338.40||338.85||0.45||0.27||5.9||0.5||Foot Wall Veining|
|MU20-011||177.60||178.50||0.90||0.78||2.5||0.6||Foot Wall Veining|
|MU20-011||271.60||273.00||1.40||0.30||7.2||0.7||Foot Wall Veining|
|MU20-011||278.75||279.25||0.50||0.23||32.5||2.5||Foot Wall Veining|
|MU20-011||337.45||338.65||1.20||0.29||13.9||1.3||Hanging Wall Veining|
|MU20-011||362.20||362.75||0.55||0.26||6.2||0.5||Hanging Wall Veining|
|MU20-011||371.60||372.00||0.40||0.31||5.1||0.5||Hanging Wall Veining|
|MU20-012||119.70||120.00||0.30||0.29||6.5||0.6||Foot Wall Veining|
|MU20-014||191.30||192.15||0.85||0.78||6.2||1.6||Hanging Wall Veining|
|MU20-015||153.75||154.70||0.95||0.79||2.9||0.8||Hanging Wall Veining|
|MU20-016||27.90||28.60||0.70||0.70||3.4||0.8||Foot Wall Veining|
|MU20-016||224.40||224.75||0.35||0.20||12.5||0.8||Foot Wall Veining|
|MU20-017||167.65||168.15||0.50||0.34||5.6||0.6||Foot Wall Veining|
|MU20-018||114.20||114.65||0.45||0.44||3.7||0.5||Foot Wall Veining|
|MU20-018||194.40||195.25||0.85||0.78||4.5||1.2||Hanging Wall Veining|
|MU20-030||96.20||96.55||0.35||0.25||23.5||2.0||Foot Wall Veining|
|MU20-032||155.70||156.85||1.15||0.96||12.4||4.0||Foot Wall Veining|
- Where True widths are greater than 3 m, grades are not diluted and are presented as the grade over the composite true width.
- Composites that are below 0.5 g/t Au when diluted to 3 m are not reported in this table.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Bavarian Nordic Reports Preliminary Financial Results for 202028.1.2021 13:19:50 CET | Press release
Revenue and EBITDA in line with guidance for 2020. Year-end cash position better than guided for 2020 COPENHAGEN, Denmark, January 28, 2021 – Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) today reported preliminary, unaudited financial results for 2020 in line with or better than the Company’s most recent guidance. Revenue for the full year is expected at approximately DKK 1,852 million, comprised of DKK 1,082 million from combined sale of Rabipur/RabAvert and Encepur, DKK 704 million from US Government sale, including JYNNEOS revenue and contract work, and finally DKK 66 million from the milestone payment from Janssen (Ebola vaccine approval).The operating result (EBITDA) is expected at approximately DKK 740 million, including other operating income of DKK 628 million from the sale of Priority Review Voucher.Cash position at year-end was approximately DKK 1,670 million, excluding unutilized credit facilities of DKK 244 million. DKK millionFY 2020 Guidance originalFY 2020 Guidance update
Bavarian Nordic offentliggør foreløbige resultater for 202028.1.2021 13:19:50 CET | pressemeddelelse
Omsætning og EBITDA på linje med forventningerne til 2020. Likvider ved årets udgang var bedre end forventet. KØBENHAVN, Danmark, 28. januar 2021 – Bavarian Nordic A/S (OMX: BAVA) rapporterede i dag foreløbige, ureviderede finansielle resultater for 2020 på linje med, eller bedre end selskabets senest udmeldte forventninger. Omsætningen for helåret forventes at være ca. DKK 1.852 mio., bestående af DKK 1.082 mio. fra det kombinerede salg af Rabipur/RabAvert og Encepur, DKK 704 mio. fra salg til den amerikanske regering, inklusive omsætning fra JYNNEOS og kontraktarbejde, samt DKK 66 mio. fra milepælsbetalingen fra Janssen (godkendelse af ebolavaccinen).Resultatet af primær drift før afskrivninger og nedskrivninger (EBITDA) forventes at være ca. DKK 740 mio., inklusive andre driftsindtægter på DKK 628 mio. fra salget af Priority Review Voucher.Likvider ved årets udgang udgjorde ca. DKK 1.670 mio., eksklusive uudnyttede kreditfaciliteter på DKK 244 mio. DKK mio. 2020 forventet oprindelig
German University Hospital Orders Nexstim NBS System with NexSpeech28.1.2021 10:40:00 CET | Press release
Press release, Helsinki, 28 January 2021 at 11.40 am (EET) German University Hospital Orders Nexstim NBS System with NexSpeech Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that a University Hospital in Germany has ordered a Nexstim NBS System with NexSpeech. The hospital is a new customer for Nexstim. The NBS System with NexSpeech will be used for neuroscientific research and diagnostics. Nexstim NBS System uses the unique SmartFocus® navigated transcranial magnetic stimulation (nTMS) technology which enables accurate and precise stimulation of the brain. SmartFocus® nTMS mapping conducted with NBS system is a non-invasive and accessible way of diagnosing the tumour’s or other lesion’s location. In addition to motor mapping, NBS System can be used also for locating language eloquent areas when used together with NexSpeech module. Mikko Karvinen, CEO of Nexstim, said: “I’m very happy to welcome this new hospital and its team to our SmartFocus® nTMS user communit
RESULT OF RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS28.1.2021 10:10:00 CET | Press release
RESULT OF RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS Auction date2021-01-28Loan195Coupon1.00 %ISIN-codeSE0013546066Maturity2025-06-18 Tendered volume, SEK mln1,300 +/- 650 Volume offered, SEK mln4,250Volume bought, SEK mln1,300Number of bids9Number of accepted bids5Average yield0.040 %Lowest accepted yield0.038 %Highest yield0.044 %% accepted at lowest yield 57.14 Auction date2021-01-28Loan1590Coupon1.00 %ISIN-codeSE0012676690Maturity2025-09-03 Tendered volume, SEK mln1,500 +/- 750 Volume offered, SEK mln5,926Volume bought, SEK mln1,500Number of bids12Number of accepted bids3Average yield0.066 %Lowest accepted yield0.061 %Highest yield0.068 %% accepted at lowest yield 29.87 Auction date2021-01-28Loan146Coupon0.50 %ISIN-codeSE0013381571Maturity2025-06-11 Tendered volume, SEK mln800 +/- 400 Volume offered, SEK mln4,500Volume bought, SEK mln800Number of bids12Number of accepted bids1Average yield0.073 %Lowest accepted yield0.073 %Highest yield0.073 %% accepted at lowest yield 100.00 Auc
Share Buyback Transaction Details January 21 – 27, 202128.1.2021 10:00:00 CET | Press release
Share Buyback Transaction Details January 21 – 27, 2021 January 28, 2021 - Wolters Kluwer today reports that it has repurchased 99,498 of its own ordinary shares in the period from January 21, 2021, up to and including January 27, 2021, for €6.9 million and at an average share price of €69.79. These repurchases are part of the share buyback program announced on October 30, 2020, under which we intend to repurchase shares for up to €50 million during the period starting January 4, 2021, up to and including February 22, 2021. The cumulative amounts repurchased to date under this program are as follows: Share Buyback 2021 PeriodCumulative shares repurchased in period Total consideration (€ million)Average share price (€)2021 to date 357,57525.069.91 For the above-mentioned period, we have engaged a third party to execute €50 million of buybacks on our behalf, within the limits of relevant laws and regulations (in particular Regulation (EU) 596/2014) and the company’s Articles of Associati
Rockridge Intersects 2.5 g/t Au over 13.0m containing 9.6 g/t Au over 2.0m and Makes New Gold Discovery 250m West of Main Zone; Assays Pending for Two Additional Holes28.1.2021 09:30:00 CET | Press release
VANCOUVER, British Columbia, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd.(TSX-V: ROCK)(OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge”) (the “Company”) is pleased to announce that it has completed a 2,965 metre diamond drilling program at its 100% owned Raney Gold Project located southwest of Timmins, Ontario, Canada (the “Raney Gold Project” or “Property”). A total of 11 drill holes were completed to evaluate the down plunge and strike extent of the Raney Gold Zone. Assays have been received for 9 of the 11 holes with gold mineralization intersected in all but two holes. Drill hole RN 20-13 returned 2.5 g/t Au over 13.0m from 133.0m to 146.0m including 3.41 g/t Au over 9.0m from 135.0m to 144.0m and including 9.6 g/t Au over 2.0m from 135.0m to 137.0m. Furthermore, exploratory drill hole RN 20-18 was a significant step out hole along strike 250m to the west of the main zone and returned 1.36 g/t Au over 9.0m from 141.0m to 150.0m including 2.1 g/t Au over 4.0m from 141.0m to
Vital Partners with Radboud University Medical Center to Deliver Next Generation VNA, a Data Orchestration Engine28.1.2021 09:00:00 CET | Press release
MINNETONKA, Minn., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Vital, a Canon Group company, has been awarded a contract by Radboud University Medical Center of Nijmegen, Netherlands. This announcement was preceded by an extensive, production-ready proof of concept, in which Vital proved to be a reliable partner as it successfully integrated its Vendor Neutral Archive (VNA) solution with Radboud's existing architecture and workflow. With Vital's VNA connecting Radboud's data silos, Radboud was able to promote efficiency at all levels of care. Radboud now has the ability to free key information from proprietary software, having data readily available at faster rates. This helps support Radboud's goal of ensuring every patient always receives the best care, now and in the future. “We needed a scalable vendor-agnostic solution that could consistently connect data within our systems.” says Laurens de Grootwe, a Lead Product Owner in Information Management at Radboud UMC. “We found that solution with