Manhattan Corporation hits high-grade gold at Tibooburra project

Manhattan Corporation ASX MHC New Bendigo gold
Manhattan Corporation unearthed a bonanza interval of 3m at 105.34g/t gold.

Perth-based junior Manhattan Corporation (ASX: MHC) has intersected “significant” gold mineralisation in all holes of a drilling campaign at its Tibooburra project in northern New South Wales.

The company has received all results from 20 reverse circulation holes for a total 2,100 metres within the high-grade Main Zone of the New Bendigo prospect at the project. Assays confirmed the mineralisation remains open along strike, down dip and down plunge of previously-identified high-grade mineralised shoots.

Drilling focused on testing the shallow nature of the mineralisation, and targeted the north plunging shoots within the lower grade mineralised corridor which extends for approximately 650m of strike.

The company intersected high-grade zones believed to host some of the best gold results reported from the region to date.

Highlights were 8m at 40.5 grams per tonne gold from 70m, including 3m at 105.34g/t; 16m at 13.89g/t gold from 1m, including 3m at 69.20g/t; 7m at 2.89g/t gold from 56m, including 1m at 15.45g/t; 6m at 1.93g/t gold from 12m, including 2m at 4.29g/t; and 3m at 4.67g/t gold from 126m, including 2m at 6.74g/t.

Project potential

Manhattan executive director Kell Nielsen said the drill results reflected Tibooburra’s potential.

“We are extremely pleased with the significance [of these results] and feel that they prove the potential of [this project] to host multi-million-ounce gold discoveries,” he said.

“The next steps and drill planning will be important in understanding the potential of the mineralised system at New Bendigo where numerous individual shoots may exist.”

New Bendigo drilling

Mr Nielsen said the company would focus on Main Zone’s continuity of plunging shoots at depth and test the size of the high-grade system when drilling resumes in January.

This will be followed by exploration at the Western Lode target where Manhattan previously returned 7m at 18.16g/t gold from 87m.

Further high-grade prospects including New Bendigo South, Clone and Pioneer will also be drilled as part of a multi-campaign approach throughout the new year.

Tibooburra location

The Tibooburra project comprises 10 granted exploration licences across 1,020 square kilometres located 200km north of Broken Hill.

The tenement package stretches 160km south from the historic Tibooburra goldfields, along the gold-anomalous New Bendigo Fault, to where it merges with the Koonenberry Fault and then strikes further south towards the recently-discovered Kayrunnera gold nugget field.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.