Metallica Minerals Receives Assay Results from Esmerelda Project

Metallica Minerals Ltd. (ASX:MLM) announced that it’s received assay results from two core drill holes recently completed at its Queensland-based Esmerelda graphite project.
Highlights include:

• Assay results confirm thick graphite (Cg) mineralised intervals in the first two exploration holes:
  • WD001 – 95 m @ 6.5%1 Cg from 71m
  • WD002 – 29.1 m @ 7.8%1Cg from 71.9m, including 7.1 m @ 12.9% Cg
• Petrology confirms the same mineralisation style hosted within hydrothermally altered granite is present in both holes which are 1.2km apart
• Results indicate mineralisation is open in all directions and strongly indicates potential to define a very large graphite deposit that may support bulk mining operation
• Metallurgical test work to commence immediately

Simon Slesarewich, CEO of Metallica, commented:

This can only be described as very exciting news for Metallica and its shareholders.
The grades and the unique mineralogical signature confirm that both holes, drilled 1.2 km apart, intercepted the same mineralised altered granite.
When you combine the results from this drilling program with our geological, magnetics and EM modelling and the historical drilling records (which recorded significant graphite up to 6.2 km away), it is difficult not to conclude that the potential extents of the Esmeralda deposit are very large.
Considering that these results come from two holes in a two-hole drilling program, there is a high likelihood that, with further exploration and resource definition drilling, even more impressive graphite intercepts will be revealed within Esmeralda’s large 750 km2 tenement holding. We now look forward to receiving the results from the metallurgical testwork.

Click here to read the full Metallica Minerals Ltd. (ASX:MLM) press release.