Mincor Resources NL Reports Encouraging New Results from the Golden Mile Underground Drilling Program
with the orebodies that were successfully mined historically at Mincor's Northern Operations.
Drilling activities at the Golden Mile are currently focused on further defining the extents of this significant new
surface, with Mincor targeting a Mineral Resource update late in the June Quarter. The current drilling program at Golden Mile represents only a small portion of the enlarged Golden Mile exploration program, with significant drilling programs scheduled to continue over the remainder of CY22 (Figure 2). Despite the LN04a surface sitting ~320m along strike from existing development infrastucture at Long, crucially, the new surface is only ~90m from the newly developed Long-Durkin North Incline (which connects the two previously separated Long and Durkin North operations). This close proximity to exisiting, high-quality infrastructure has positive implications for any future exploration success within the Golden Mile zone, limiting the capital and development time required to access any potential new mining zones. Mincor's Feasibility Study (see ASX Announcement 25 March 2020) outlined an initial 5-year mine life with mining of the new Durkin North orebody a significant platform of the Northern Operations contribution, supplemented by ore from a smaller Ore Reserve at Long. Recent discoveries of the D6 surface at Durkin North (refer to ASX announcement 25 January 2022) and now the potential for a significant new surface at LN04a clearly illustrate the potential for mine life extensions right across Mincor's Northern Operations.
This near-mine growth potential at the Northern Operations will be a core focus of drilling over the remainder of CY22, particularly in the Golden Mile area.