By: Creamer media

Independent consultant Forge International determined an exploration target of 33-million to 44-million tonnes at 0.77 g/t  to 0.95 g/t gold for 820 000 oz to 1.34-million ounces contained gold at the project’s MB01 prospect.

The exploration target covers the MB01-N and MB01-S targets and has been based on the assay data from the first 13 holes out of a planned 24-hole programme at MB01-S and the 2024 trenching data across both targets. 

The model has been limited to 200 m depth below surface and uses a lower cutoff grade of 0.30 g/t gold.

Grade-tonnage sensitivity analysis shows strong retention of contained ounces at higher cut-off grades, with mid-range grades increasing to 1.07 g/t gold at a 0.50 g/t gold cutoff for 900 000 oz and 1.33 g/t gold at a 0.70 g/t gold cutoff for 700 000 oz.

The drilling programme at MB01-S is ongoing, with completion scheduled for this quarter. 

The company anticipates publishing an independent consultant's maiden, pit-constrained mineral resource estimate (MRE) in the fourth quarter of this year and believes the project could be mined by openpit mining methods.

Independent assessment of mineralogy from drill hole MBDD002 confirms the material tested exhibits gold encapsulation in pyrite and the predominance of gold-telluride – calaverite and petzite – mineralisation. 

Further testwork is planned to evaluate the optimum processing route from the various possible options.

"The maiden exploration target for the company's Mbe project is a significant milestone achieved, and we are delighted with the target range which has a median of 38-million tonnes at a mean grade of 0.86 g/t for 1.1-million ounces contained gold. 

“As drilling at MB01-S continues, we greatly look forward to reporting the maiden MRE in the fourth quarter of this year,” says CEO Martin Rosser.