Sierra Mining drills further encouragement at Malibo

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THE DRILL SERGEANT: Sierra Mining (ASX: SRM) has received encouraging results from an on-going drilling program being carried out on the company’s Mabilo project in the Philippines.

Recent highlights from the ongoing diamond drilling program have included drill holes extending both the down dip and SE strike extension of the South Body and drill holes extending known mineralisation along strike to both the north and south of the North Body magnetic model.

 

Revised magnetic model (blue frame), RTP ground magnetic image and
completed and current drill holes on the South Body. Source: Company
announcement

 

Holes MDH-53 and MDH-57, respectively drilled 50 and 100 metres to the SE of MDH-40, intersected magnetite-chalcopyrite mineralisation, which the company said had extended the known strike of the large South Body over 100m.

Drilling is continuing at MDH-57 and neither hole has been assayed as yet however, Sierra indicated mineralisation is visually similar that encountered in holes MDH-16 and MDH-40.

Sierra said hole MDH-46 confirmed the down dip extension of the South Body to the SE, intersecting two zones of magnetite-chalcopyrite mineralisation, returning intersections of:

40.45m at 1.81 grams per tonne gold, 1.38 per cent copper, 25g/t silver and 41.26 per cent iron; and

4.20m at 2.13g/t gold, 1.96 per cent copper, 16.5g/t silver and 50.55 per cent iron.

Hole MDH-48 intersected magnetite skarn and mineralised silica pyrite breccia extending the known magnetite skarn mineralisation 50m south of the southern boundary of the North Body.

The hole intersected:

166.2m at 1.29g/t gold, 1.27 per cent copper, 8.3g/t silver and 32.46 per cent iron.

MDH-41 drilled sub-parallel and approximately 40 metres north of the north boundary of the modelled North Body intersected:

54.8m at 1.01g/t gold, 2.4 per cent copper, 14.3g/t silver and 19.99 per cent iron.

“Sierra is exploring three zones of blind massive magnetite skarn containing copper, gold and silver mineralisation termed the North, South and East bodies,” the company said in its ASX announcement.

“A fourth magnetic anomaly at Venida South lies along strike from a former small-scale mining operation but has yet to be drill tested.

Drilling is currently focused on defining the SE strike and SW down dip extent of the large South Body and testing the strike extension of mineralisation to the north and south of the North Body.

“There are currently three drilling rigs on site and 55 holes have been completed to date.”

Website: www.sierramining.com.au