Early-mover advantage in emerging high-grade gold district


Multi-million-ounce orogenic gold discovery potential


160-strike-km of gold-anomalous structures


Similar in age and tectonic features to the Victorian Goldfields


Convergence of major faults enhances the potential for multi-ounce-gold systems


Manhattan Corporation Limited (ASX:MHC) is an explorer with its head office based in Perth, West Australia.

Manhattan’s strategy is to grow shareholder value through decisive project acquisition, innovative exploration, and ore discovery.

Manhattan announced on the 2 December 2019 that it had signed an agreement to acquire 100% of Awati Resources Limited and its flagship Tibooburra Gold Project located in north-western NSW, Australia.

This acquisition delivers MHC early-mover advantage in an emerging high-grade gold district that holds multi-million-ounce gold discovery potential.

The structure, age of mineralisation (440Ma) and tectonic features of the Tibooburra Goldfields has similarities to the Victorian Goldfields where large orogenic gold deposits continue to be discovered (e.g. Fosterville).

The Tibooburra Gold Project:

  • contains historic and recently discovered high-grade orogenic gold deposits
  • has 160-strike-km of gold-anomalous structures (New Bendigo Fault)
  • comprises 10 granted exploration licences for 1,020km2
  • has seven Priority Gold Targets already identified with multi-million-ounce gold potential for drill testing in early 2020
  • drill-ready targets at the New Bendigo Project, where a north-plunging, high-grade gold shoot is open at depth to the north.

Drilling is planned for early 2020 to follow-up:

  • 26m @ 4.55 g/t Au from 8m (TIBRB12, RAB)
  • 8m @ 7.10 g/t Au from 12m (TIBRB235, RAB)
  • 4m @ 11.33 g/t Au from 36m (TIBRB15, RAB)
  • 6m @ 2.58 g/t Au from 76m (AW18RC003, RC)
  • 5m @ 7.70 g/t Au from 53m (AWNB05, Diamond)
  • 14m @ 2.14 g/t Au from 103m (AW18RC007, RC)
  • 3m @ 10.93 g/t Au from 102m (AW18RC004, RC)

Mr Jens Balkau is to join the board of MHC. In his previous role as Exploration Manager for Regis Resources, Jens led the discovery and definition of more than 5M ounces of gold in the Duketon Belt of Western Australia

A placement is to be completed for a minimum of $0.5M at $0.005 per share. Market cap of ~$5M upon completion of Placement and Acquisition.


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