MGT Resources completes Summer Hills Phase Three drilling

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THE DRILL SERGEANT: MGT Resources (ASX: MGS) has received results from Phase Three of its 2013 Summer Hills drilling program.

Summer Hills is the main tenement on the company’s Mt Garnet tin project in Queensland.
MGT said the drilling program was carried out to expand and upgrade tin resources at Summer Hills in order to provide feed for the Mt Veteran tin processing plant.

The Phase Three drilling was conducted entirely at the Dalcouth prospect, which lies approximately 500 metres from the plant.

 

Plan of Dalcouth showing Phase Three drill holes over topographic contours. Source: Company announcement 

Highlights from the Phase Three drilling include:

8 metres at 0.47 per cent tin from 39 metres, including 1 metre at 1.33 per cent (DAL119);

15m at 0.38 per cent tin from 41m, including 1m at 1.16 per cent (DAL121);

14m at 0.67 per cent tin from 59m, including 5m at 1.2 per cent (DAL121);

4m at 0.89 per cent tin from 29m, including 1m at 2.54 per cent (DAL124);

10m at 0.51 per cent tin from 25m, including 2m at 1.27 per cent (DAL136); and

3m at 2.28 per cent tin from 29m, including 1m at 5.54 per cent (DAL137);

“This is the third and most successful phase so far of the drilling programs at Dalcouth this year, and sets us up as per plan to provide a JORC resource update following the completion of Phase Four which is currently underway,” MGT Resources executive chairman and managing director Jonathan Back said in the company’s announcement to the Australian Securities Exchange.

“The close proximity of Dalcouth to our processing plant and the shallow tin mineralisation are stand-out features of this project.

“Dalcouth is just one of many highly-prospective targets within our Summer Hills Mining Lease 20547 and nearby Nymbool EPM 16948.”

MGT said the results from the Summer Hills Phase Three drilling program had confirmed extension of a mineralised zone to the northwest.

It also further developed a northeast parallel zone and extended mineralisation at depth.

A fourth phase of RC drilling is currently being conducted with 54-56 holes and 8 re-entries on existing holes proposed.

Email:
info@mgt.net.au

Website:
www.mgt.net.au