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Mandalay Resources Corporation Provides Year-End 2020 Reserves and Resources for Costerfield and Björkdal Operations Grows gold reserves at Costerfield by 25%; maintains long mine life at Björkdal TORONTO, Feb. 23, 2021 (GLOBE NEWSWIRE) Mandalay Resources Corporation ( Mandalay or the Company ) (TSX: MND, OTCQB: MNDJF) is pleased to announce updated Mineral Resources and Reserves estimates for its Costerfield gold-antimony mine in Victoria, Australia and its Björkdal gold mine in Skellefteå, Sweden as at December 31, 2020. All dollar amounts in this press release are in U.S. dollars unless otherwise noted. Highlights: Costerfield Proven and Probable Mineral Reserves for contained gold and antimony increased by 25% and 22%, respectively, net of depletion for 2020 production; ....
Note: Significant drill composites are provided in Table 1 in the Appendix to this document. Dominic Duffy, President and Chief Executive Officer of Mandalay, commented, “Given Björkdal’s long mine life of over 10 years, our exploration focus there has shifted away from incremental additions to existing resources and reserves to identifying and drilling more prospective areas with higher-grade mineralization possibilities. These exciting initial high-grade intercepts from the depth extension drilling have demonstrated significant continuation within the Lake Zone area. Follow up infill drilling will be ongoing as we endeavour to define the breadth of veining and bring these areas to production in the short term.” ....
Mandalay Resources Corporation Announces Significant Grades and Depth Extension to the Lake Zone Veining of the Björkdal Deposit Björkdal Depth Testing Highlights 15 veins containing significant grades have been intercepted with inferred strike extensions of up to and over 300 meters ( m ) Standout intercepts identified: ? ? ? ? Identified skarnified marble lens: Note: Significant drill composites are provided in Table 1 in the Appendix to this document. Dominic Duffy, President and Chief Executive Officer of Mandalay, commented, Given Björkdal s long mine life of over 10 years, our exploration focus there has shifted away from incremental additions to existing resources and reserves to identifying and drilling more prospective areas with higher-grade mineralization possibilities. These exciting initial high-grade intercepts from the depth extension drilling have demonstrated significant continuation within the Lake Zone area. Follow ....
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