Metal Bank Limited (ASX:MBK)
Metal Bank (ASX:MBK) owns three Gold Projects in Eastern Australia.
Metal Bank holds two gold projects prospective for intrusion related gold mineralisation in a region that hosts several gold mines including the Cracow (3Moz Au), and Mt Rawdon (2Moz Au) gold mines as well as the historical Mt Morgan deposit (8Moz Au).
The Triumph project represents the highest priority for Metal Bank with the focus on defining near surface high grade Au-Ag resources and aiming to develop multiple low-cost, shallow open pits. High grade gold mineralisation intersected in drilling to date provides strong support for multi-million ounce gold potential within a large under-explored gold system dominantly concealed by shallow cover.
The Eidsvold project is centred on a historical goldfield (100,000oz Au historical production) with minimal previous exploration completed beneath the surrounding sedimentary cover in the district. Initial drill results advance large scale untested gold targets associated with magnetic lows along strike from a historical goldfield to high priority status.
The 8 Mile project consists of exploration licence application (255km2) over an interpreted large-scale alteration system near the Mt Rawdon gold deposit in south-east Queensland, Australia. Multiple alteration targets identified from reprocessed airborne geophysics data is interpreted to represent a large-scale hydrothermal gold system, supported by previous wide-spaced stream sediment geochemical data collected during the 1980’s and 1990’s.