Commissioning plant reminds ke of another disaster VEC

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Brightoil

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21/04/20

09:45

Post #: 44158369
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Originally posted by VatreniHR: ↑

You've got to see the bigger picture. The objective here is combine numerous open pit shallow gold targets to recommission the plant.

Remember, recommissioning the plant (upgrades, refurbishment) is costing $10m not $50-70m. Once recommissioned, it leaves MDI in a powerful position regarding our neighbours $AME who are under T/O attempt by Chinese Goldsea and Adaman Resources.

It doesn't need to be high grade when you're targeting open pit shallow gold deposits in close proximity to build your resource base for recommissioning the plant. Follow-up drilling for phase 2 will determine what McIntyre which is adjacent to the Mclaren prospect can add to the inventory (inferred resources).

We still have drilling results from 10 shallow open pit targets pending (10,232m), the targets are in close proximity which makes them very viable.

“The broad, consistent gold intercepts returned from Phase 1 RC drilling at the McIntyre prospect provide
further exciting encouragement that the prospect may well prove to represent a second new, low strip
ratio, open pit deposit to supplement the planned Sandstone mill recommissioning inventory. This
follows close on the heels of significant intercepts of 4m at 90.6g/t and 8m at 3.35g/t Au from the
adjacent McClarenprospect as announced last week.

“Recently completed geological mapping of the proximal McIntyre, McClaren and Ridge prospects, all of
which are hosted in the Shillington BIF package, reveal a structural link between the McIntyre and
McClaren prospects that offers opportunities for resource extensions to both. The McIntyre and
McClaren prospects lie within granted Mining Lease M57/129 and only 2.5km from the Company’s 100%-
owned, 600ktpa gold processing plant.

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Commissioning plant reminds ke of another disaster VEC

MDI Price at posting: 1.2¢ Sentiment: None Disclosure: Held
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