MHC manhattan corporation limited

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09/07/25

08:49

Post #: 79732677
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Originally posted by bevter: ↑

HIGHLIGHTS
• Novo completed its maiden drill program at the Clone prospect as part of the Tibooburra
Gold Project, in May 2025. The program comprised 14 RC holes for 1,984 m, testing 500 m of
strike.
• Drilling produced significant high-grade gold intercepts including:
• 12 m @ 5.90 g/t Au from 16 m, including 5 m @ 13.74 g/t Au from 23 m (TBR0001)
• 17 m @ 2.40 g/t Au from 59 m including 9 m @ 4.14 g/t Au from 59 m (TBR0014)
• The peak intercept in hole TBR001 (12 m @ 5.90 g/t Au) fills a 180 m gap in previous drilling
by Manhattan Corporation Limited (ASX: MHC), where 9 m at 6.03 g/t Au from 16 m(CL0010)
was intersected ~100 m to the south of TBR0001, and 6 m @ 8.39 g/t Au from 82 m (CL0007),
was intersected ~80 m to the north.
• Grade and width continuity has been successfully demonstrated by the RC drilling and
indicates a shallow north plunge to the near-surface shoot of high-grade gold
mineralisation, now defined over 300 m strike.
• High-grade intercepts remain open to the north, both down plunge and down dip and
warrants follow up RC drilling which is being designed.
• Future work at Tibooburra will include detailed structural analysis to understand controls
on mineralisation in the belt will include: 1) down hole imaging at Clone, 2) relogging core
at New Bendigo and 3) mapping the Pioneer - Phoenix trend.
• Novo met (and exceeded) its required minimum spend of $500,000 for the initial farm-in
period under the binding term sheet with Manhattan Corporation Limited during June
2025.
Mike Spreadborough, Executive Co-Chairman and Acting Chief Executive Officer, said: “Results
from the RC drill program at the Clone prospect include two intercepts above 40 mxg Au, where
drilling has successfully intersected high-grade near-surface gold mineralisation consistent
with a shallow plunging shoot. The consistency of grade and thickness over a 300 m strike is
very encouraging. Follow up RC drilling to extend gold mineralisation to the north is warranted
and is now being designed.
Some 7 km southeast of the Clone prospect, the New Bendigo prospect displays a similar
shallow northerly plunge and will also be advanced with structural analysis and interpretation
of historic diamond core, in preparation for potential extensional drilling.
Further systematic exploration programs are planned along the full project strike length
testing mineralised trends from New Bendigo to Warratta Reef and Pioneer/Phoenix to Clone
to identify potential drill targets. Tibooburra remains an exciting exploration project given the
extent of the system along a 22 km strike of historic workings, and limited systematic
exploration or drilling.”

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These boys know what gold is all about, promising for them to eventually exercise their option. 30% of something is better than 100% of nothing.

MHC Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
6 Upvote

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