Outstanding Initial Assays Received

Drilling resumed at New Bendigo “Main Zone” on the 12th March with a further seventeen (17) RC Holes (NB0108-0124) being completed for 2,446 metres. Drilling focussed on testing the size and extent of the mineralised system at “Main Zone” that continues to demonstrate the potential for MHC to delineate a significant shallow, high-grade gold resource.

MHC has received results from the laboratory for 2 compete holes and the top 39m of 162m hole to date.

  • 2m at 1.70 g/t Au from 64m (NB0112)
  • 7m at 13.10 g/t Au from 97m (NB0113), including
  • 5m at 18.01 g/t Au from 97m,
  • 2m at 1.01 g/t Au from 109m (NB0113)
  • 1m at 2.87 g/t Au from 122m (NB0113)
  • 1m at 1.48 g/t Au from 130m (NB0113)
  • 1m at 11.10 g/t Au from 9m (NB0114)

Further to the drilling at Main Zone, MHC has yet to receive analytical results from drilling completed on significant exploration targets where Au mineralisation has been identified through drilling or historic mining activity within the northern part of the Tibooburra Gold Project (~25km gold mineralised strike).

MHC completed a further nine (9) RC Holes for 1,434 metres

Drilling targeted:

  • New Bendigo South: Located ~ 600m along strike to the south of the “Main Zone” where scout drilling in 2021 returned 12m at 1.14 g/t from surface in Aircore (NBAC0103), intersecting a potentially new zone of gold mineralisation. MHC completed one RC hole (NB0125) for 96 metres. The hole was drilled underneath NBAC0103, with drilling intercepting near surface, moderately weathered shale-hosted quartz veining exhibiting moderate to strong goethite and haematite alteration and quartz veining and sulphide in fresh shale.
  • Silverton: Located ~ 1,500m south of the “Main Zone” (along strike) where scout Aircore drilling in 2021 returned 4m at 0.59 and 3m at 0.5 g/t Au (NBAC0059). MHC Completed two (2) RC holes (NB0126-127) for 276 metres. Drilling intercepted shale overlain by mudstone, sandstone, siltstone and unconsolidated gravels. Minor mineralisation was noted in narrow veining, with NB0127 intersecting 2m of Quartz-pyrite veining (69-70m).
  • Pioneer and Phoenix – located ~18km north of the “Main Zone”, the Pioneer-Phoenix trend hosts historical gold workings over ~5km of strike and was home to a historic gold stamping battery (Pioneer). Limited historic drilling in the area returned significant Au in diamond and RC drilling, including 3m at 4.89 (AWNPN02A) and 2m at 14.72 (TP003A) g/t. MHC completed four (4) RC holes (PN0001-04) for 732 metres. Drilling intercepted shale, with each hole hosting multiple zones of significant quartz-pyrite veining. Intersected widths include 60-75m (PN0001), 90-107m (PN0002), 67-83m (PN0003) and 149-158m (PN0004).
  • Jefferey’s Flat: Located ~ 1,800 metres to the north of the Pioneer Mine, Jeffery’s Flat hosts historic workings. MHC completed two (2) RC holes at Jeffery’s Flat (JF0001-02) for 330 metres. Drilling intercepted interbedded sandstone and siltstone units. JF0001 intersected two zones (31-35m, 49-55m) of quartz veining within weathered material associated with considerable haematite and goethite alteration. Below the weathered interface, JF0001 intercepted quartz veining between 69-81 and 139-146m associated with pyrite mineralisation. JF0002 intercepted two moderate zones of quartz veining – 75-80m and 144-148m with traces of pyrite.