Mantle Mining may reopen the high grade Morning Star mine
Published 13-FEB-2017 12:31 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Shares in Mantle Mining Corporation (ASX: MNM) surged more than 20% in the first hour of trading after the company announced that it had completed a structural reinterpretation and historical review of the near surface high grade Stacpoole zone in the Morning Star gold mine.
MNM explained that the Stacpoole zone is a thick continuous reef with excellent indications of unmined high-grade mineralisation with confirmation having been made that it is one of the thickest reefs in the Morning Star system, having a target zone of 450 metres long by 60 metres wide.
MNM is developing the high grade Morning Star and Rose of Denmark gold mines in eastern Victoria, and the particular zones that it intends to target have seen little prospecting since 1900.
Management noted that previous drill holes had exhibited strong grades including 4.1 metres at 18.8 grams per tonne. Given the near surface mineralisation the company is of the view that it could present as a low-cost development project. Likewise, if metrics stack up Morning Star could be brought into production relatively quickly.
On this note, Executive Director Doctor Rick Valenta said, “We are proud to be the first to be able to identify the true potential of this high-grade zone which is easily accessed from existing adits and could be developed quickly, making it our first priority at Morning Star”.
While various prospective developers, as well as the Geological Survey of Victoria, have in the past identified potential merits of progressing the project, particularly with a history of producing approximately 250,000 ounces of gold at grades in excess of 40 grams per tonne, MNM concludes that a mix of untimely macro conditions and a lack of coordinated and technically astute owners resulted in the asset never realising its potential.
The following shows the zone under investigation, outlining the particularly high grades that have been intercepted in the past.
As MNM continues mapping and sampling of the Stacpoole zone in the Morning Star adit, a drill program is being formulated to commence on the basis that the zone can be easily accessed with short drill holes from four separate existing near surface adits, allowing for efficient testing without waiting for shaft access.
General Information Only
This material has been prepared by StocksDigital. StocksDigital is an authorised representative (CAR 000433913) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
