Highlights:
• Interim infill drilling results received from Majestic North Gold Project.
• High-grade shallow gold intersected at the southern margin of current resource envelope including1234
• MNRC050: 5m @ 7.74 g/t Au from 18m (incl. 1m @ 30.43 g/t).
• MNRC049: 5m @ 2.85 g/t Au from 20m (incl. 3m @ 4.57g/t Au).
• MNRC076: 5m @ 2.85g/t Au from 21m (including 1m @ 4.79 g/t Au).
• MNRC171: 4m @ 1.79 g/t Au from 28m (including 2m @ 3.04 g/t Au).
• Updated JORC (2012) Mineral Resource Estimate targeted for March/April 2026.
• Orbminco has received firm commitments to raise $5.0m (before costs) via a two tranche placement at an issue price of 1.6 cents per share.
• The proceeds of the Placement will be applied towards additional resource delineation and exploration drilling at Majestic North and furthering its development.
Orbminco Limited (ASX: OB1) (Company) is pleased to provide an interim update on the ongoing infill drilling program at its 100%-owned Majestic North Gold Project (Majestic North or Project) in Western Australia. The current program is designed to increase drill density to improve our geological and grade confidence within the current shallow oxide JORC (2012) Mineral Resource footprint ahead of mine planning and mining approval workstreams. These results continue to confirm the Majestic North gold resource. To date, we have received assays for 132 holes for 7,343 metres of the planned 11,496m which have been successful in intersecting the shallow mineralised horizons.
The Company continues to work closely with its Technical Committee and consultants throughout the program execution, geological interpretation and resource workstreams, to assist in the development of the shallow oxide Majestic Gold Project to be able to get into a position to advance to a series of economic evaluations to assess its viability to mine at the current gold price. Further updates are planned as additional assay results are received.
Drilling Results
Significant intercepts returned from the latest assay results include:
• MNRC043: 3m @ 3.68 g/t Au from 19m, including 1m @ 9.35 g/t Au.
• MNRC049: 5m @ 2.85 g/t Au from 20m, including 3m @ 4.75 g/t Au.
• MNRC050: 5m @ 7.74 g/t Au from 18m, including 1m @ 30.43 g/t Au.
• MNRC076: 2m @ 4.50g/t Au from 21m, including 1m @ 4.79 g/t Au.
• MNRC171: 4m @ 1.79 g/t Au from 28m, including 2m @ 3.04 g/t Au.
Reported intercepts have been calculated using a nominal 0.5 g/t Au lowercut-off, with up to 2m internal dilution. Higher grade internal intervals are reported for reference. No top-cut has been applied and reported as down hole length which is close to true width as the targeted mineralisation is perpendicular to the drilling. Sampling and assay procedures, QA/QC and other material information will be provided in accordance with JORC (2012), including JORC Table 1 disclosure to accompany full results reporting and/or the upcoming resource update.
Interpretation
The reported intercepts for holes MNRC043, MNRC049 and MNRC50 are located at the southern margin of the current shallow supergene resource envelope. These results provide additional confidence in the mineralisation continuity and highlight the potential for extensions of the supergene gold zone along strike to the south.
The 132 holes drilled for 7,343 metres that have been reported and are outlined in the appendix demonstrate consistent mineralisation at the main interpreted enriched historic paleochannel/supergene horizon (between 30 to 35m below surface) along with additional shallower perched channels that occur in the hanging wall of the main zone especially around 20 metres below surface horizon.
Majestic North gold mineralisation is interpreted to comprise a supergeneenriched horizon developed in historic paleochannels above the primary (bedrock) mineralisation. While the current program is focused on infill drilling of these zone to support the upcoming Mineral Resource update, the presence of high-grade intersections at the margin of the supergene
envelope is considered relevant in assessing potential for bedrock mineralisation beneath the supergene profile. Follow-up work, including consideration of deeper drilling, will be assessed following completion of the program.
Read the full announcement here
About us:
Orbminco Limited is advancing its Mongolia strategy and has recently completed its maiden drilling program at the highly prospective Bronze Fox Copper Project.
To learn more, please visit: https://www.orbminco.com.au/
Contact details:
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Shareholder & General Enquiries
Orbminco Limited
Duncan Gordon
T: +61 (0)404 006 444
E: [email protected]
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The Capital Network
Julia Maguire
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