The key to MCT's success is the deposits are all high grade and very shallow to surface and as easy to mine with very low capex and close to existing infrastructure.
Leipold and McTavish deposits have delivered excellent high grade grade results close to surface so far.
However the main game is about to commence now the Company is getting serious and bringing in the 2nd drill rig to fast track drilling of the historical high grade areas at Cosmopolitan, Altona Trend and the Champion deposit, that all have exhibited very high grade gold results.
Champion deposit will be the first cab off the rank with assay results already pending.
- 9 drill holes pending assays for Champion.
Previous drill intercept at Champion deposit- CPRC0004 – 2 metres @ 25.2 g/t Au from 28 metres to EOH inc. 1m @ 42.04 g/t Au from 28m.
That particular Hole ended in mineralisation with 1 m @ 42g/t gold. Imagine what the share price will do if they hit more grades similar to that?
Then we have the Altona trend deposit. What outstanding potential this particular deposit has.
The historic Altona Mining Centre produced 88,700 ounces between 1900 to 1965 at an average head grade of 30 g/t Au.
Those average grades are world class!
The drilling programme currently underway at Altona is designed to follow up and step out from known existing workings to evaluate the presence of remnant mineralisation. An initial 24- hole programme has been developed and is currently underway.
Then last but not least we have the jewel in the crown with the Cosmopolitan Deposit that was the highest grade gold deposit in Australia at the time of historical mining.
Furthermore, the Cosmopolitan North target appears to be a strike extension and possible repeat of the prolific Cosmopolitan Gold Mine that has historically produced 360,000 ounces at an average head grade of 15 g/t Au.
Can't wait to see the assay results from all 3 of these deposits above.
