Korab Resources Discovers Gold at Winchester Magnesite Project, Australia
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Korab Resources Ltd has found gold at its Winchester magnesite project in the Northern Territory after assays from historical drilling of holes drilled in 1999 and 2000 by the previous owners revealed significant gold hits.
The two holes assayed returned very high grade gold of 7 meters at 8.83 grams per tonne from 34 meters and 7 meters at 2.56g/t gold from 69 meters and 1 meter at 4.08 g/t gold from 89 meters depth.
The mineralization is hosted in magnesite.
There were another 86 holes drilled by previous project owners. Korab will review the logs for the other holes to determine whether there are other gold assays available and whether there is a need to re-assay the other drill samples for gold.
Not surprisingly, Korab has commenced assessment of the impact of gold within the Winchester magnesite deposit would favorably impact the economics of the Winchester project, the mine plan and the pit design.
Source: (March 17, 2016) Proactive Investors
About Korab Resources
Korab Resources Ltd is a mining and exploration company with mineral assets and projects in Australia and Europe.
To stop by Korab’s website, CLICK HERE
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