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Eidsvold Project – (100% MBK) – Gold
MBK has modelled a 7 km² alteration system interpreted as a very large IRG system beneath surface geochemical anomalies at the Great Eastern Target overlain by 50 – 100 m of sediment.
The target was produced from a combination of data including a 1000 line km airborne survey flown by MBK, open file airborne magnetic data and ultra-trace soil geochemistry combined with pH analysis to produce a coincidence of sulphide weathering and elevated pathfinder geochemistry directly over the geophysical anomaly.
The geophysical responses are of the same scale and very similar to those at the 3 Moz Mt Leyshon gold deposit.
At both Mt Leyshon and the Great Eastern Target, broad resistivity lows occur on top of and at the sides of a deep reverse polarised magnetic core.
At Mt Leyshon, the low resistivity reflects gold mineralisation within overprinting alteration surrounding the early hot intrusive phase defined by the deep reversely magnetised core.
It appears the same process has occurred at the Great Eastern Target where significant surface geochemistry results are coincident with the low resistivity response around the core.
The Great Eastern Target is considered to be the likely source of gold mineralising fluids 6 km to the southwest at the historical Eidsvold goldfield and the Mt Brady historical workings 5 km to the northwest, where MBK intersected up to 1 m @ 17.4 g/t Au in scout drilling.
Further information is available by clicking the following MBK ASX releases
Competent Persons Statement
The information in this document that relates to Exploration Results, Mineral Resources and Exploration Target statements is based on information compiled or reviewed by Mr Trevor Wright as set out in the Company’s ASX Releases dated 7 Nov 2019, 23 April 2020 and 6 July 2020 (8 Mile) and 5 May 2020 (Eidsvold). The Company is not aware of any new information or data that materially affects the information included in these ASX Releases and in the case of reported Mineral Resources, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mr Wright is a Member of The Australasian Institute of Geoscientists and is a contractor to the Company. Mr Wright has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Wright consents to the inclusion in the document of the matters based on his information in the form and context in which it applies. The Exploration Targets described in this document are conceptual in nature and there is insufficient information to establish whether further exploration will result in the determination of Mineral Resources.