- Mandalay Resources (OTCQB: MNDJF) announces significant progress at the True Blue discovery near the Costerfield gold-antimony mine in Australia.
- The company confirms high-grade intercepts, including 155.0 g/t Au and 3.7% Sb over 0.30m, and the discovery of a new parallel vein yielding 11.7g/t Au and 6.5% Sb over 4.88m.
- Three surface drill rigs are now operating to accelerate exploration efforts, with infill drilling expected to conclude by Q3 2025.
Mandalay Resources Corporation (OTCQB: MNDJF) has announced notable developments in its exploration activities at the True Blue discovery, located near the operational Costerfield gold-antimony mine in Australia. The company has confirmed exceptional drilling results, including intercepts of 155.0 g/t gold and 3.7% antimony over 0.30 meters and a newly discovered parallel vein with 11.7 g/t gold and 6.5% antimony over 4.88 meters.
The exploration program has been intensified, with three surface drill rigs currently in operation. The focus is on extending the high-grade central area and clearly defining its structural framework. This effort has led to the identification of new parallel structures and potential extensions that are offset from the current mineral resource, indicating a substantial growth prospect for the site.
The True Blue prospect, situated approximately 2 kilometers west of the Central Corridor, is characterized by a 4-kilometer-long soil geochemical anomaly. So far, drilling has covered 600 meters of this strike length, with plans to complete infill drilling by the third quarter of 2025. As of February 2025, the site holds an inferred resource of 145,000 tonnes at 13.1 g/t gold and 3.1% antimony.
Mandalay Resources' accelerated exploration efforts, including the deployment of additional drill rigs, underscore the company's commitment to enhancing the resource base and extending the mine's life through strategic growth initiatives at Costerfield.
