UPDATE: Mandalay Resources Extends Mineralized Zones at Costerfield Mine, Cerro Bayo; Stock Almost Hit Year Highs
Mandalay Resources Corporation (MND.TO) provided drilling results from its 100%-owned Costerfield gold-antimony mine in Victoria, Australia.
Brad Mills, CEO, said: "We continue to achieve significant exploration success at Costerfield. In extending the drilled areas of high-grade gold and antimony mineralization in the N-Lode to the north and Cuffley to the south, we have not only demonstrated the potential for a larger resource than previously estimated, but also shown at least 300 m of strike length overlap of the two veins."
The company also reported that it has extended mineralized zones in 5 veins at its Cerro Bayo silver-gold mine in Chile. It plans to drill approximately 60,000 meters at Cerro Bayo, continuing to test extensions of known mineralized zones at Coyita, Marcela, Delia SE veins, Fabiola, Trinidad and Yasna veins and testing several new targets in the district.
MND edged lower by a cent, or about 1%, to $1.10. It has hit a day high of $1.13, just 2 cents below year highs.
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