Manhattan Corporation (ASX:MHC) completes initial structural survey in New Bendigo – The Market Herald

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  • Manhattan Corporation (MHC) completes the initial phase of a structural study of the new Bendigo target at the Tibooburra gold project in New South Wales
  • This study has identified intersections that may exert dip control on the gold mineralization and the lower grade material may be related to bleeding/remobilization of the higher grade mineralization.
  • MHC plans to undertake 1,500 meters of reverse circulation (RC) drilling at New Bendigo to define further high-grade mineralization that has already been intersected
  • In addition, MHC has received consent from the NSW National Parks and Wildlife Service to undertake exploration at Clone Prospect.
  • The MHC is up 14.3% with shares trading at 0.8 cents at 1:50 p.m. AEST

Manhattan Corporation (MHC) has completed the initial phase of a structural study of the New Bendigo target on the Tibooburra gold project in New South Wales.

This study has identified intersections that may exert dip control over gold mineralization – potentially promoting the formation of higher grade shoots – and lower grade material may be related to bleeding/remobilization of higher grade mineralization.

In addition, mapping identified a strong north-northwest trending penetrating structure with multiple quartz veins.

Multiple steeply dipping and cross-cutting quartz-rich veins were also mapped and observed.

A 3D model was created to assess the relationship between structural features and the existing drill cover near the New Bendigo workings.

Dr. John Beeson of Geoscience Now and Peter Croft of Brockman Solutions oversaw the work which included field mapping, a review of recently acquired diamond cores and interpretation of selected holes.

MHC plans to undertake 1,500 meters of reverse circulation (RC) drilling at New Bendigo to define further high-grade mineralization that has already been intersected.

In addition, MHC has received consent from the NSW National Parks and Wildlife Service to undertake exploration of the Clone prospect.

The company is in the final stages of securing access to Clone and plans to undertake an initial RC drilling following a structural review.

MHC rose 14.3% in the market, with shares trading at 0.8 cents as of 1:50 p.m. AEST.

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