#Canada #Toronto #Mandalay Resources #Björkdal #Gold Domain

Mandalay Resources Unveils New High-Grade Gold Domain at Björkdal Mine

Mandalay Resources Corporation has exciting news for the mining sector, announcing the discovery of a new underground gold domain at its Björkdal operation, located in Sweden. This newly identified area, dubbed the North Zone Below Marble, is situated approximately 200 meters north of existing mining operations and is expected to play a significant role in the future of the mine.

Discovery Highlights

The North Zone Below Marble has presented exploration teams with 18 interpreted veins over an impressive strike length of 400 meters and a vertical height of 250 meters. Initial drilling results are promising. Notably, core sample MU24-010 yielded a remarkable 178.9 g/t gold over 1.15 meters, putting the high-grade potential of this area on display. Additionally, the discovery is projected to positively impact the mineral resource estimate, anticipated to be released in early 2025. This could lead to a significant addition of years to the mine life at Björkdal.

Key intercepts include:

• - MU24-010: 178.9 g/t gold over 1.15 m (ETW 0.94 m)
• - MU24-024: 69.4 g/t gold over 0.80 m (ETW 0.69 m)
• - Other notable intercepts of 39.6 g/t gold over 3.90 meters and 3.4 g/t over 7.40 meters further illustrate the richness of this area.

Progress and Future Plans

Mandalay Resources is committed to ongoing exploration to tap into the high-margin resources near its Björkdal operations. The discovery not only boosts confidence in the existing operations but opens new avenues for targeted exploration in the future. Chris Davis, Vice President of Exploration and Operational Geology, emphasized that the newly discovered zone's vein architecture closely resembles that of the established Main Zone, which is recognized for consistently containing higher-grade ore.

As exploration continues, Mandalay plans to drill deeper into the newly discovered North Zone Below Marble to uncover further extensive deposits. The data collected from 2023 indicates that the region possesses a conducive environment for gold mineralization, further underpinned by the presence of fault structures anticipated to imitate the Björkdal shear’s role in mineral accumulation.

In addition to focusing on the North Zone, the company is expanding its drilling initiatives in the Eastern Extension of the Main Zone. Early results from this project have also been promising, indicating a robust continuation of gold-bearing veins, which are crucial for resource growth.

Another area of interest is the Aurora Zone, which has recently displayed extensive gold-bearing veins to depth and along strike. Continuing successes in this region further underpin the potential of the Björkdal mine to deliver bulk tonnage well into the future.

Assaying and Quality Control

All diamond drill core samples were meticulously logged and assayed by the expertise of Björkdal geologists. The samples were sent to CRS Laboratories in Finland for preparation and assaying, ensuring the highest level of accuracy and reliability in the findings. The diligent QA/QC measures in place, including the use of standard reference samples, assure stakeholders of the integrity of the reported results.

About Mandalay Resources Corporation

Mandalay Resources is a Canadian-based natural resource company with active mining projects in both Australia and Sweden. Committed to responsible environmental practices, the company aims to optimize shareholder value through strategic operations and community engagement. As it continues to explore and develop its projects, Mandalay focuses on sustaining its high production and reducing operational costs, ensuring profitability and success in the long term.

In summary, the discovery of the North Zone Below Marble at the Björkdal mine signifies an exciting chapter for Mandalay Resources. With promising initial findings and a clear strategy for future exploration, the company is poised for continued growth and success in the competitive mining landscape.