FIGURE 11. Austin section view showing assay highlights for Holes MM25D-12-4848-008 and -041 through -044.
FIGURE 12. Austin section view showing assay highlights for Holes MM25D-12-4848-009, -010 and -045 through -047.
FIGURE 13. Austin section view showing assay highlights for Holes MM25D-12-4848-011, -012 and -048 through -051.
Madsen and Rowan Projects Location Map
The drill results featured in this news release are focused on the high-grade Austin Zone. The Austin Zone currently contains an Indicated mineral resource of 914,200 ounces ("oz”) grading 6.9 grams per tonne ("g/t”) gold ("Au”), with an additional Inferred resource of 104,900 oz grading 6.5 g/t Au.
The purpose of this drilling was definition and expansion within priority areas of Austin to continue building an inventory of high-confidence ounces to support the restart of production at the Madsen mine, which is expected to commence in 2025. The Company recently filed a Technical Report for its Pre-Feasibility Study for Madsen on February 18, 2025.
AUSTIN ZONE HIGHLIGHTS:
- Hole MM25D-12-4848-005 Intersected 10.5m @ 12.43 g/t Au, from 48.6m to 59.1m, Including 0.6m @ 106.06 g/t Au, from 49.4m to 50.0m, Also including 0.7m @ 49.53 g/t Au, from 53.9m to 54.6m.
- Hole MM25D-12-4848-050 Intersected 4.3m @ 30.16 g/t Au, from 51.0m to 55.3m, Including 1.1m @ 106.10 g/t Au, from 51.9m to 53.0m.
- Hole MM25D-12-4848-022 Intersected 5.4m @ 23.81 g/t Au, from 54.1m to 59.5m, Including 0.5m @ 212.13 g/t Au, from 54.9m to 55.4m, Also including 0.5m @ 30.14 g/t Au, from 56.3m to 56.8m.
- Hole MM25D-12-4848-025 Intersected 9.6m @ 10.98 g/t Au, from 53.0m to 62.6m, Including 0.5m @ 45.34 g/t Au, from 53.0m to 53.5m, Also including 0.8m @ 36.90 g/t Au, from 57.5m to 58.3m.
- Hole MM25D-12-4848-045 Intersected 5.85m @ 17.29 g/t Au, from 43.75m to 49.60m, Including 1.5m @ 45.31 g/t Au, from 45.5m to 47.0m, Also including 0.6m @ 27.15 g/t Au, from 49.0m to 49.6m.
Plan maps and sections for the Austin drilling highlighted in this release are provided below in Figures 1 through 13.
TABLE 1. Significant intercepts (>3 g/t Au) from drilling at Austin Zone.
| Hole ID | Target | From (m) | To (m) | Length (m)* | Au (g/t) |
| MM25D-12-4848-001 | Austin | No Assays > 3 g/t Au | |||
| MM25D-12-4848-002 | Austin | 58.60 | 61.50 | 2.90 | 3.61 |
| AND | Austin | 63.60 | 65.50 | 1.90 | 5.13 |
| AND | Austin | 67.70 | 69.20 | 1.50 | 5.16 |
| MM25D-12-4848-003 | Austin | 54.60 | 57.00 | 2.40 | 4.20 |
| Incl. | 54.60 | 55.10 | 0.50 | 16.64 | |
| AND | Austin | 59.00 | 61.00 | 2.00 | 4.53 |
| Incl. | 60.50 | 61.00 | 0.50 | 15.15 | |
| MM25D-12-4848-004 | Austin | 52.00 | 56.00 | 4.00 | 4.88 |
| Incl. | 54.00 | 55.00 | 1.00 | 14.26 | |
| AND | Austin | 57.40 | 60.40 | 3.00 | 11.37 |
| Incl. | 58.30 | 59.00 | 0.70 | 25.73 | |
| MM25D-12-4848-005 | Austin | 48.60 | 59.10 | 10.50 | 12.43 |
| Incl. | 49.40 | 50.00 | 0.60 | 106.06 | |
| Also Incl. | 53.90 | 54.60 | 0.70 | 49.53 | |
| MM25D-12-4848-006 | Austin | 34.00 | 35.00 | 1.00 | 5.48 |
| AND | Austin | 48.50 | 49.80 | 1.30 | 3.39 |
| AND | Austin | 56.20 | 60.50 | 4.30 | 19.64 |
| MM25D-12-4848-007 | Austin | 44.90 | 48.70 | 3.80 | 4.19 |
| Incl. | 47.30 | 47.90 | 0.60 | 12.83 | |
| MM25D-12-4848-008 | Austin | 47.50 | 48.50 | 1.00 | 4.26 |
| AND | Austin | 49.50 | 51.00 | 1.50 | 4.76 |
| MM25D-12-4848-009 | Austin | 48.80 | 53.30 | 4.50 | 5.32 |
| Incl. | 52.30 | 52.80 | 0.50 | 30.57 | |
| MM25D-12-4848-010 | Austin | No Assays > 3 g/t Au | |||
| MM25D-12-4848-011 | Austin | 59.05 | 61.60 | 2.55 | 6.26 |
| Incl. | 60.10 | 60.60 | 0.50 | 28.90 | |
| MM25D-12-4848-012 | Austin | 60.40 | 63.40 | 3.00 | 5.63 |
| Incl. | 60.40 | 61.40 | 1.00 | 10.37 | |
| AND | Austin | 66.70 | 71.70 | 5.00 | 5.39 |
| Incl. | 68.70 | 70.70 | 2.00 | 12.64 | |
| MM25D-12-4848-013 | Austin | No Assays > 3 g/t Au | |||
| MM25D-12-4848-014 | Austin | 67.40 | 68.00 | 0.60 | 3.41 |
| AND | Austin | 76.50 | 78.00 | 1.50 | 3.74 |
| AND | Austin | 79.00 | 80.00 | 1.00 | 3.08 |
| MM25D-12-4848-015 | Austin | 33.50 | 34.00 | 0.50 | 3.99 |
| AND | Austin | 51.50 | 57.00 | 5.50 | 5.36 |
| Incl. | 51.50 | 53.10 | 1.60 | 14.50 | |
| MM25D-12-4848-016 | Austin | 57.40 | 58.60 | 1.20 | 5.96 |
| Incl. | 57.40 | 58.00 | 0.60 | 11.33 | |
| AND | Austin | 61.30 | 62.40 | 1.10 | 8.00 |
| MM25D-12-4848-017 | Austin | 57.70 | 58.70 | 1.00 | 3.55 |
| AND | Austin | 69.30 | 71.80 | 2.50 | 3.28 |
| AND | Austin | 72.80 | 74.00 | 1.20 | 3.66 |
| MM25D-12-4848-018 | Austin | No Assays > 3 g/t Au | |||
| MM25D-12-4848-019 | Austin | No Assays > 3 g/t Au | |||
| MM25D-12-4848-020 | Austin | 58.00 | 61.00 | 3.00 | 5.38 |
| Incl. | 60.00 | 61.00 | 1.00 | 12.82 | |
| MM25D-12-4848-021 | Austin | 57.30 | 58.50 | 1.20 | 3.71 |
| MM25D-12-4848-022 | Austin | 54.10 | 59.50 | 5.40 | 23.81 |
| Incl. | 54.90 | 55.40 | 0.50 | 212.13 | |
| Also Incl. | 56.30 | 56.80 | 0.50 | 30.14 | |
| MM25D-12-4848-023 | Austin | 48.00 | 49.00 | 1.00 | 3.58 |
| MM25D-12-4848-024 | Austin | 30.50 | 31.50 | 1.00 | 5.00 |
| AND | Austin | 48.50 | 51.00 | 2.50 | 6.75 |
| Incl. | 49.00 | 50.20 | 1.20 | 12.62 | |
| AND | Austin | 53.70 | 54.20 | 0.50 | 10.97 |
| MM25D-12-4848-025 | Austin | 53.00 | 62.60 | 9.60 | 10.98 |
| Incl. | 53.00 | 53.50 | 0.50 | 45.34 | |
| Also Incl. | 57.50 | 58.30 | ()[\]\\.,;:\s@\"]+)*)|(\".+\"))@((\[[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\])|(([a-zA-Z\-0-9]+\.)+[a-zA-Z]{2,}))$/;return b.test(a)}$(document).ready(function(){if(performance.navigation.type==2){location.reload(true)}$("iframe[data-lazy-src]").each(function(b){$(this).attr("src",$(this).attr("data-lazy-src"))});if($(".owl-article-body-images").length){$(".owl-article-body-images").owlCarousel({items:1,loop:true,center:false,dots:false,autoPlay:true,mouseDrag:false,touchDrag:false,pullDrag:false,nav:true})}var a=$("#display_full_text").val();if(a==0){$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:$("#cms_article_id").val()},dataType:"json",success:function(b){},error:function(b,d,c){}})}$(".read-full-article").on("click",function(d){d.preventDefault();var b=$(this).attr("data-cmsArticleId");var c=$(this).attr("data-productId");var f=$(this).attr("data-href");dataLayer.push({event:"paywall_click",paywall_name:"the_manila_times_premium",paywall_id:"paywall_article_"+b});$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:b,productId:c},dataType:"json",success:function(e){window.location.href=$("#BASE_URL").val()+f},error:function(e,h,g){}})});$(".article-embedded-newsletter-form .close-btn").on("click",function(){$(".article-embedded-newsletter-form").fadeOut(1000)})});$(document).on("click",".article-embedded-newsletter-form .newsletter-button",function(){var b=$(".article-embedded-newsletter-form .newsletter_email").val();var d=$("#ga_user_id").val();var c=$("#ga_user_yob").val();var a=$("#ga_user_gender").val();var e=$("#ga_user_country").val();if(validateEmail(b)){$.ajax({url:"/ajax/sendynewsletter",type:"POST",data:{email:b},success:function(f){$(".article-embedded-newsletter-form .nf-message").html(f);$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000);dataLayer.push({event:"newsletter_sub",user_id:d,product_name:"newsletter",gender:a,yob:c,country:e})},error:function(f,h,g){}})}else{$(".article-embedded-newsletter-form .nf-message").html("Please enter a valid email address.");$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000)}});$(document).on("click",".article-embedded-newsletter-form .nf-message",function(){$(this).removeClass("show");$(this).html("")});
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