Ann: Mutiny Gold Ltd - 2013 Exploration Program C, page-2

re: Ann: Mutiny Gold Ltd - 2013 Exploration P... Highlights:
• Southern Geoscience commissioned to undertake detailed structural studies of the highly
prospective Deflector Corridor area;
• Regolith mapping using SAM surveying to vector in on blind targets under the Murchison
Hardpan;
• Follow up 3,000m RC drilling program, focussing on shallow, high-grade Au-Cu mineralisation
amenable to open pit mining methodsto occur; and
• Engineering designs and contracts progressing, projectfinance imminent.
Australian gold-copper resources company, Mutiny Gold Ltd (ASX: MYG) (“Mutiny” or the “Company”), is pleased
to announce the commencement of exploration activities at the highly prospective Deflector Corridor, within its
100% owned Gullewa Project in Western Australia.
Southern Geoscience (“SGC”) has assisted Mutiny with its Exploration strategic planning by reviewing all
geophysical data to consolidate its 80 targets. Work has now commenced developing a detailed structural
framework to identify regional controls on mineralisation and highlight targets along the highly prospective yet
under-drilled Deflector Corridor and extended areas surrounding the Gearless Well Intrusion.
As the Deflector Corridor is blanketed with transported overburden, Mutiny will be employing advanced
technologies such as Sub-Audio Magnetics (SAM) to map the regolith under cover. The combination of SAM data
and structural framework will provide the basis for vectoring in on prospective blind targets and further unlock the
exploration potential ofthe Gullewa Project
Mutiny has committed to an initial 3,000m RC drilling program for testing SAM-generated targets, aimed at
defining high-grade Au-Cu mineralisation amenable to open mining methods with the potential to extend the Life
of Mine (“LOM”) of planned open pit operations. In addition, diamond drilling has been designed and scheduled
targeting extensions of Mutiny’s Au-Cu Deflector Deposit later in the year. Expectations are for continuation of
high-grade mineralization at depth, including bonanza grade gold and copper intercepts (e.g. 3.6m @ 153 g/t Au
and 13.3% Cu) as highlighted in the successful 2012 campaign.
Mutiny Gold’s Managing Director, John Greeve, said continued exploration is an important key to growth during
this phase of Mutiny’s transition to a successful and profitable gold producer.
“The Deflector Corridor and Gearless Well areas have seen very little exploration outside of Deflector, and we
believe the likelihood of new discoveries is extremely high. This innovative, yet well planned, exploration approach
is the best strategy for maximising our exploration budget as we commence construction of the plant and mine”.
“Early success in this exploration program will align with our strategy and allows us to ramp up production to over
100,000 ounces gold equivalent earlier than planned,” said Mr Greeve.27 February 2013
Page 2
Exploration Strategy
After reviewing Mutiny data, SGC noted the aeromagnetic data coverage was suitable for generating a highresolution structural framework for identifying potential structural controls on mineralisation and therefore
structural targets. Mutiny believes this work will assist in identifying structures related to mineralisation, and plan
to utilise this work for drill testing.
SGC also noted the conductive nature of the overburden in this area means any form of electrical surveying will
struggle to get current penetration into the bedrock. Instead of trying to detect bedrock anomalism, the
overburden can be made the primary target; namely mapping out the base of the regolith using the sub-audio
magnetics(SAM) method.
The SAM method has proven successful in other conductive environments in the Goldfields for mapping changes in
the depth of weathering at the base of the regolith that are associated with structures of interest. One of the key
features of the Deflector Deposit is deep oxidisation of sulphides to 50 metres below surface, contrasting with very
shallow weathering of the host-basalt.
Mutiny believes SAM surveying will allow the exploration team to vector in on prospective targets for drilling by
highlighting deeper zones of weathering associated with oxidized sulphide mineralisation. As the Deflector
Corridor is highly under-drilled, this ‘Smart Targeting’ strategy will minimise drilling costs associated with section
drilling maximising Mutiny’s exploration budge