Ann: Outstanding Further High Grade Gold Results, page-259

A few good hits here and there??

Most gold miners would kill for the shallow to surface, high grade hits like MCT have been getting with a very high strike rate across the 2 tenements drilled so far. Yes it's early days, but the successful Phase 1 drilling has indicated the Company is on the right course to hit it's exploration target of around 960,000 ounces of Au.

The key thing to note about these deposits that MCT have is that they are very shallow to surface and high grade , thus amendable to open pit mining at low cost!

Most companies would prefer this anyday over having 40m hits at 1 g/t, 250m deep that costs a fortune to dig out! You see 1g/t over 30m is the same as 6g/t over 5m, but it costs a hell of a lot more to extract 1g/t over 30 metres at depth! Grade is king....

Heres a list of most of the hits from Phase 1 drilling just completed:
Liepold:-
o LPRC0012 – 4m @ 16.3g/t Au from 42 metres, ▪ inc. 3m @ 20.7g/t Au from 42 metres
o LPRC0015 – 9m@ 5.7g/t Au from 35metres, ▪ inc. 2m @ 17.9g/t Au from 40 metres
o LPRC0013 – 4m @ 13/g/t Au from 33 metres
o LPRC0006 – 3m @ 9.92g/t Au from 18 metres
o LPRC0010 – 4m @ 7.08g/t Au from 18 metres
o LPRC0005 – 3m @ 6.81g/t Au from 9 metres
o LPRC0016 – 12m @ 2.34g/t Au from 52 metres.
o LPRC0032– 10 metres @ 3.21g/t Au from 26 metres,
o LPRC0028– 3 metres @ 4.59g/t Au from 31metres
o LPRC0026– 8 metres @ 2.92g/t Au from 24metres
o LPRC0024– 6 metres @ 2.87g/t Au from 58 metres
o LPRC0018– 4 metres @ 3.69g/t Au from 23 metres
o LPRC0022– 4 metres @ 2.70g/t Au from 26 metres
▪ LPRC0036 - 8 metres @ 4.05 g/t Au from 59 metres,
▪ LPRC0037 – 2 metres @ 8.52 g/t Au from 43 metres
▪ LPRC0038 - 5 metres @ 2.56 g/t Au from 60 metres
▪ LPRC0034 - 3 metres @ 2.46 g/t Au from 44 metres
McTavish:-
▪ McTRC0015 - 2 metres @ 14.11 g/t Au from 39 metres,● including 1 metre @ 19.42 g/t Au from 39 metres,
▪ McTRC0010 - 5 metres @ 4.17 g/t Au from 20 metres,
▪ McTRC0011 - 4 metres @ 5.01 g/t Au from 36 metres,
▪ McTRC0012 - 4 metres @ 4.64 g/t Au from 54 metres

32 of the 44 drill holes completed in Phase One returned a significant intercept demonstrating excellent near surface gold endowment
● Mineralisation remains open in all directions at Leipold and McTavish

They've only been drilling down to 80m deep on Phase 1 drilling. Hopefully with Phase 2 drilling commencing on Monday the 20th of July they will endeavour to sink a few deeper Diamond drill holes to test what lies beneath. As we know the nearby Gwalia Gold mine at Leonora extends mineralisation down to 2.6km's deep and over 5 Million ounces of Gold has already been pulled from that mine over the years.



Open in all directions, no wonder other mining Companies are trying to snap up all the available leases in the area for exploration!