Mutiny hits new high-grade gold at Deflector North

THE DRILL SERGEANT: The on-going exploration program of Perth-based exploration and mine development play Mutiny Gold has delivered new high-grade gold intersections.

The new intersections have been received from the north and from the south of existing resources at the company’s Deflector gold deposit.

The most northerly hole drilled as part of the current program was located 140 metres north of the new high grade discoveries and 270 metres to the north of the current resource boundary.

This hole delivered an encouraging result of three metres at 9.9 grams per tonne gold, which the company said highlights the potential that remains along strike at Deflector.

The company’s belief in the exploration potential of the Deflector Corridor was strengthened by high grade intersections located in the Northern Deflector shear structure, and downplunge of the Southern portion of the resource.

Mutiny said this also provides it with confidence the existing 590,000 ounce gold resource can be significantly increased with ongoing drilling.

“It is particularly encouraging that there are high grade intercepts being achieved in multiple locations,” Mutiny Gold managing director John Greeve said the company’s ASX announcement.

“The results indicate likely extensions to the planned open pit and, also, importantly, confirm the down plunge continuity with depth of high grade shoots.

“These will be included in underground mine planning. It is management’s belief that the recent exploration success will lead to a meaningful lift in the Deflector resource which will justify an expanded mining case to be considered as part of the feasibility study, currently in progress.”

The results received from the first 26 holes of Mutiny’s ongoing drilling program, which recommenced in early May, have again added length to the Deflector deposit mineralisation that now extends at least over 850m.

These results will be incorporated into the revised resource estimation to be carried out at the conclusion of the current RC and diamond drill programs.

Mutiny has already begun preparing for further RC drilling to follow up the high-grade intersections with a second diamond drill rig being sent to site to accelerate the Deflector central underground drill program.