Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Mindax Limited Fire Assays Up To 3,820ppb Gold At Meekatharra North 0 comments
    Apr 16, 2014 12:21 AM

    Mindax Limited (ASX: MDX) has received encouraging results of up to 1 metre at 3,820ppb gold from fire assays of the 1 metre re-sampling program at its Meekatharra North Gold Project in Western Australia.

    The Meekatharra North Gold project is a joint-venture with Messrs Zhuang who are earning-in to acquire 51% in the project over three years.

    In addition, gold grades of more than 2,000ppb gold were returned from each of the target areas defined by the 2013 aircore drilling.

    "We are encouraged by these results and now look forward to the completion of the full geological interpretation. We will review all the information in the coming weeks and then consider future work programs with our joint venture partners who have funded the current work," managing director Dr Steve Ward said today.

    Fire Assays

    The samples were taken from a small drill program of six holes totalling 1,545 metres completed in February 2014 that were drilled on a 50 metre by 100 metre spacing.

    All holes were initially sampled as 4 metre composites and assayed for gold by aqua regia methodology.

    Upon receipt of those assay results, all composites which returned a gold grade of higher than 100ppb gold were re-sampled in the field and assayed on a 1 metre basis.

    This resulted in 176 samples submitted for fire-assay based on significant geological features including quartz veining and alteration returned from the drill chips and aqua regia assays.

    Besides the top result, which followed-up an original composite grade of 4 metres at 3,150ppb gold in hole MNC012, other notable results include 1 metre at 2,460ppb gold in hole MNC014 following up a composite grade of 4 metres at 134ppb gold, indicating the effects of the highly nuggety nature of the mineralisation.

    22 gold results reported above 100ppb gold while the remaining 154 samples returned no significant result.

    However, further assaying may be undertaken due to the presence of coarse gold.

    Geological interpretation of these new results is now in progress.

    Meekatharra North

    Meekatharra North lies 25 kilometres along strike from the 2.5 million ounce Paddy's Flat gold deposit, and just 2 kilometres along strike from Doray Minerals' (ASX:DRM) 441,000 ounce Andy Well discovery.

    Andy's Well has recently commenced production, and the mineralised structures continue south into the Mindax tenement.


    While still early days at Meekatharra North, the fire assay results of up to 1 metre at 3,820ppb gold from the drilling carried out in February 2014 is encouraging and sets the stage for Mindax to complete the full geological interpretation.

    That the project is just 2 kilometres along strike from Doray Minerals' 441,000 ounce Andy Well that has recently commenced production and has mineralised structures that continue south into the Mindax tenement is also interesting.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.