Metaliko Resources (ASX:MKO) has reported an initial JORC 2012 Resource of 700,000 tonnes grading 2.17 grams per tonne gold for 48,800 ounces of contained gold at its Corboys Gold Deposit.
The deposit is located 40 kilometres north of its Bronzewing Treatment Plant in Western Australia.
Its resource model currently defined from surface to an average 50 metres to 70 metres depth and is considered open in most directions.
There is potential to further increase resources with further drilling. Drill intercepts not included in the resource are:
- 9 metres at 1.49g/t gold from surface;
- 3 metres at 30.7g/t gold from 25 metres;
- 3 metres at 9.70g/t gold from 56 metres;
- 17 metres at 3.36g/t gold from 61 metres; and
- 2 metres at 9.79g/t gold from 96 metres.
Corboys is one of a number of advanced undeveloped opportunities within Metaliko’s Yandal Project that was recently acquired from the Administrators of Navigator.
The company is undertaking a systematic review and reinterpretation of all historic resource and exploration data to comply with the JORC 2012 Code and to identify the most prospective targets for further exploration.
It is currently preparing a JORC Resource for the Dragon-Venus Mine located about 30 kilometres south of the Bronzewing Mill.
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