Former uranium hopeful Manhattan Corporation (ASX: MHC) has added to the rapidly growing New South Wales gold story with another shallow high-grade hit at its Tibooburra project 200km north of Broken Hill.
The company reported an intersection of 7m at 18.16 grams per tonne gold, with mineralisation beginning at 87m below surface. This was located outside known mineralisation at its New Bendigo deposit.
“This discovery requires immediate follow-up,” the company said.
The Tibooburra project, which includes New Bendigo, covers 1,354sq km and stretches 160km south from the historic settlement of Tibooburra.
This latest intersection was hit about 250m west of the New Bendigo zone at Tibooburra, and this drilling has confirmed the continuity and structure of the mineralisation.
It is also expanded high-grade gold intersections previously identified at the New Bendigo main zone.
Manhattan says the intersected zones remain open along strike and down dip with the potential for four separate structurally controlled mineralised lodes.
Other significant gold results include 2m at 17.30g/t, 2m at 13.71g/t, and 2m at 9.28g/t.
Manhattan has so far drilled 32 holes at New Bendigo — and each one has encountered either gold mineralisation or an anomalism, all within 100m vertically from surface.
‘Great potential’ for further high-grade discoveries
Only 400m of strike at New Bendigo has been drilled within an elongated 5km-long gold soil anomaly. There are historic workings extending over 1.7km of the strike zone.
Chief executive officer Kell Nielsen said the latest results confirm the company’s belief that the prospect area is growing and that it holds “great potential” for further high-grade discoveries.
“These recent drill results confirm the Tibooburra gold project is most certainly an emerging high-grade gold district where this maiden small program has only scratched the surface,” he added.
The 160km-long strike target of gold-anomalous targets are similar in age and tectonic features to the Victorian goldfields, Mt Nielsen said. “And, similarly, could hold potential for multi-million-ounce orogenic gold discoveries.”
The project area contains a large part of the old Albert goldfields that produced between 50,000oz and 100,000oz during a short working life.
The goldfield was worked between 1880 and 1883, with diggers living in primitive conditions and having no water to pan their gold, using hand winnowing instead.
The Silver City Highway, which connects the Victorian and Queensland borders via Broken Hill, runs through the project area.