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Metal Bank adds new gold project near Mt Rawdon Gold Mine

Published: 15:02 21 Aug 2018 AEST

Porphyry-style gold mineralisation near previous drilling
Porphyry-style gold mineralisation near previous drilling

Metal Bank Ltd (ASX:MBK) has applied for an exploration license covering 255 square kilometres over an interpreted alteration system 15 kilometres from the Mt Rawdon gold deposit in Queensland, Australia.

The 8 Mile project is interpreted to represent the upper portions of an intrusion-related gold system of the type encountered in many large systems in Queensland such as Mt Rawdon containing 2 million ounces of gold (Moz Au), Kidston (3.7 Moz Au), Mt Leyshon (3.5Moz Au), Ravenswood (3Moz Au) and Mt Wright (1.3Moz Au).

The licence application also includes the historical Perry goldfields in the south-east of the application area, where limited previous drilling in 1995 intersected broad low-grade gold.

Metal Bank project locations

Metal Bank managing director Tony Schreck said: “The addition of 8 Mile to our strong portfolio of gold projects is very exciting as we interpret the project area to be located on a large hydrothermal system very close to the multi-million-ounce Mt Rawdon gold mine.

“The reprocessed airborne geophysics data and historical stream sediment geochemistry data provides very compelling support for the new large-scale targets.”

While the exploration application is being processed, Metal Bank plans to commence surface geochemical sampling over the priority targets under Prospecting Permits.

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