Metaliko Resources Limited (ASX: MKO) – $0.029
23 Feb 2015
Metaliko Resources Limited (ASX: MKO) has reported an initial Mineral Resource estimate for its Corboys Gold Deposit located in the North Eastern Goldfields of Western Australia (Figure 1).
Figure 1. Location of Corboys Gold Deposit
The initial JORC 2012 Indicated Resource stands at 700,000 tonnes grading 2.17g/t gold for 48,800 contained ounces of gold (1.5g/t cut off). The resource model is currently defined with an average 50m to 70m depth (100m maximum) below surface and is considered open in most directions.
The Corboys Gold Deposit is one of a number of advanced undeveloped opportunities for the company’s Yandal Project that was recently acquired from the Administrators of Navigator (Bronzewing) Pty Ltd.
The Corboys Gold Deposit has been subject to numerous drilling programs since the early 1990’s with an extensive database including several modern assessments, detailed reports, geostatistics and due diligence.
The company is undertaking a systematic review and reinterpretation of all historic data to comply with the JORC 2012 Code and identify prospective targets for further exploration.
For further information, visit www.metaliko.com.au
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