MGT Resources pleased with Summer Hill drill results

THE DRILL SERGEANT: MGT Resources (ASX: MGS) has received results from Phase Four of the company’s 2013 Summer Hills drilling program.

The Phase Four drilling was conducted at the Dalcouth prospect, comprising 63 RC percussion drill holes and eight RC extensions to existing Phase Three holes, which had indicated three main zones of mineralisation at Dalcouth – the Western, Central and Eastern Zones.

MGT said the Phase Four drilling program was looking to further define these zones and determine the relationship between them.

 

Plan showing drill traces for all holes drilled at Dalcouth and
location of the better intersections from Phase Four drilling. Source:
Company announcement

 

“Phase Four wraps up a successful 2013 Summer Hills drilling program, highlighted by the discovery of tin 200 metres to the northeast of the main body of mineralisation at Dalcouth, as well as a hit in a hole some 165 metres northwest of the main mineralised zone of one metre at 6.73 per cent tin, which is the tin equivalent of around 20 per cent copper,” MGT Resources executive chairman and managing director Jonathan Back said in the company’s announcement to the Australian Securities Exchange.

“Our next step is to include our 2013 results in our resource calculations and deliver a resource update.

“Whilst this work is being completed, our geological team will continue to explore more of our prospects on our Summer Hills mining lease, namely Viking, Summer Hill itself, and a new target called Padstow.

“Planning of the 2014 Summer Hills drilling program is underway as we focus on these targets.”

MGT said the purpose of the program was to expand and upgrade tin resources at Summer Hills in order to provide feed for the Mt Veteran tin processing plant.
 
The company said the results continue to be encouraging for the Dalcouth prospect as they indicate a new area of interest, which it has flagged for follow-up drilling.

Email: info@mgt.net.au

Website: www.mgt.net.au