Mincor Resources NL reported encouraging new results from the Golden Mile underground drilling program, targeting the zone between the Company's Long and Durkin North Operations (together, the "Northern Operations"). As previously reported, systematic diamond drill testing of the Golden Mile has highlighted a number of mineralised `trends' or `surfaces' across the zone, considered broadly to be extensions of the Long and Durkin North orebodies. Recently, in-fill drilling of the zone closest to Long has resulted in the definition of a significant new surface, referred to as the LN04a (Figure 1). Current drilling has defined a surface of approximately 550m by 150m which remains open both along strike and up-dip. Preliminary interpretations suggest that the LN04a surface is a continuation of the suite of surfaces mined historically at Long. The Company is highly encouraged both by the geological continuity of the surface and the high-grade nature of the mineralised intercepts, with the nickel sulphide grades returned from LN04a similar to those associated
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.