MGH 1.29% $4.70 maas group holdings limited

bonanza grade gold results @ melrose

  1. 416 Posts.
    nice again
    more details on melrose website

    www.melrosegold.com.au

    sorry for the capitals (cut and paste)

    30 August 2011

    MEDIA RELEASE FOR IMMEDIATE PUBLICATION
    BONANZA GOLD GRADES AT MELROSE PROJECT
    SECOND DIAMOND HOLE INTERCEPTS VISIBLE GOLD IN 20 METERS
    OF MINERALISATION AT MELROSE PROJECT IN WESTERN
    AUSTRALIA

    SECOND DIAMOND HOLE AT MELROSE CONFIRMS HIGH GRADE GOLD
    MINERALISATION AT DEPTH

    20 METERS OF MINERALISATION IN SECOND HOLE WITH VISIBLE GOLD AT TWO INTERVALS OVER SEVERAL METERS

    18 METERS OF MINERALISATION IN FIRST HOLE INCLUDING VISIBLE GOLD OVER 12 METERS

    DRILLING CONFIRMS HIGH GRADE NATURE OF FRESH ROCK
    MINERALISATION AT MELROSE WITH BONANZA GOLD GRADES IN BOTH
    DIAMOND HOLES

    STRONG POTENTIAL FOR LARGE HIGH-GRADE DEPOSIT IN ADDITION TO
    CURRENT RESOURCE OF 340,000 OUNCES

    DIAMOND CORES BEING SHIPPED TO PERTH

    ASSAYS TO BE REPORTED WHEN AVAILABLE

    Melrose Gold Mines Ltd is extremely pleased to advise that the second diamond hole drilled as part of a drilling
    program at our owned and operated Melrose gold project has intercepted visible bonanza-grade gold within 20
    metres of mineralisation. Visible gold occurs as two major veins. Hole was drilled to a total depth of 108 m.
    The first of the holes drilled as part of the same program has intercepted visible gold within a 12 meter section of
    solid ore-grade material consisting of quartz diorite with disseminated sulphides (mostly pyrite and pyrrhotite).
    The total width of mineralisation intersected in first hole was 18m and also appears to be two major veins. This
    diamond hole was terminated at 120m depth.
    Assay results will be provided to the market when available. Melrose project is located approximately 170 km
    from Leonora in the Eastern Goldfields of Western Australia (see map next page).
    The presence of bonanza grade lodes intercepted at depth by current drilling program confirms the potential of
    Melrose project to host significant additional gold mineralisation below the three known gold deposits. Melrose
    project contains resource of 340,000 ounces in measured indicated and inferred categories. Approximately half of
    the resource is in measured and indicated category. Melrose project is at the feasibility study stage with the aim
    to commence production from the three known deposits at located Melrose project whilst continuing to explore for
    additional gold deposits within 1,300 square kilometres of exploration ground at Melrose, Wonganoo, Ashburton
    Downs, Capricorn and Gascoyne projects in Western Australia and at Batchelor and Green Alligator projects in
    the Northern Territory.
 
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