
April 15, 2024
Sonic drilling program delivers significant increase in Resource confidence to support gold production at Mt Boppy
Manuka Resources Limited (ASX: MKR) (“Manuka” or the “Company”) is pleased to release an updated Mineral Resources Estimate for Mt Boppy. The Resource update supports Manuka’s strategy to install a purpose-built gold processing plant at Mt Boppy and recommence on-site gold production from Q4 2024.
Highlights:
- The results of a recently completed Sonic Drilling Program over the Main Waste Rock Dump and Dry Tailings have successfully delivered an updated Mineral Resource Estimate for Mt Boppy.
- The updated Resource comprises 4.28Mt at 1.19g/t Au for 163koz of contained gold. Importantly, the updated Resource has seen an 100% increase in the portion of contained gold ounces classified as Indicated.
- The Mt Boppy Measured and Indicated Resource categories now comprises 82% of total Resource Estimate.
- A high-grade component of the Resource comprising 1.8Mt at 1.74g/t containing 102koz Au has been identified as a basis for future mine planning.
- The results support Manuka’s strategy to install on-site processing plant at Mt Boppy and provides confidence in the development of a mine plan that will underpin the recommencement of gold doré production.
Dennis Karp, Manuka’s Executive Chairman, commented:
“The Sonic Drilling Program was critical precursor to the recommencement of the processing of rock dumps and dry tailings at Mt Boppy. The results of this program have been extremely positive allowing us to significantly improve the confidence of our Mt Boppy Resource.
Consequently, Manuka is confident in its strategy to progress the establishment a fit-for- purpose on-site gold processing plant at Mt Boppy in the coming months and in turn free up our Wonawinta process plant, most recently used to process Mt Boppy ore, for future silver production from the existing Wonawinta Silver mine.
The bullish gold and silver markets, combined with the fact that Manuka has two granted mining licenses - both fully permitted for on-site processing - and existing processing infrastructure, translate to a very exciting time for the Company.”
Mt Boppy Resource Statement Summary
The Mineral Resource Estimate at Mt Boppy has been updated subsequent to the completion of a 26 borehole 506m sonic drilling evaluation programme over the Mt Boppy Rock Dumps and Dry Tailings completed in December 2023 (Figure 1).

The updated Resource comprises 4.28Mt at 1.19g/t Au for 163koz of contained gold of which 82% is contained in the Measured and Indicated categories (Table 1). Importantly, the Resource update sees the ounces classified as Indicated increase by 100% over the previous estimate.
The Resource for Mt Boppy comprises (Table 2):
Rock dumps and tailings depositories, with gold grades derived from recent Sonic drilling to bedrock, and fire assay head grades of +90, -90+20, +10-20, and -10mm size fractions, each weighed to ascertain mass % distribution. The rock dump and tailings Resources are reported at a cutoff of 0.25g/t Au total 3.9Mt tonnes at a grade of 0.89g/t Au for 110,628oz Au.
In-situ hard rock Resources including:
- a Mt Boppy open cut pit shell that reaches a depth of 215m below surface at the southern end of the Mt Boppy deposit. Material within the current pit design is reported at a 1.6g/t Au cut off and material below the pit design is reported to a 3.0g/t Au cut off
- the Boppy South mineral zone based on a grade shell modelled at a 1.6g/t cut off. This prospect still requires final drilling and evaluation before assessing the viability of establishing a small opencast mine.
The incremental change to the overall Mt Boppy Resource relates to updates to Rock dumps and Tailings depositories. The combined Mt Boppy Open Cut and Boppy South Resource of 282kt at a grade of 4.95 g/t Au for 44,820 ounces gold remain unchanged from that previously reported (ASX Release 25 August 2023) and all material assumptions continue to apply.
Click here for the full ASX Release
This article includes content from Manuka Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
MKR:AU
INN Article Notification
The Conversation (0)
26 March 2025
Manuka Resources
Near-term production from both its silver and gold projects located in the Cobar Basin, Central West, New South Wales
Near-term production from both its silver and gold projects located in the Cobar Basin, Central West, New South Wales Keep Reading...
05 August 2025
Results of Fully Underwritten Entitlement Offer
Manuka Resources (MKR:AU) has announced Results of Fully Underwritten Entitlement OfferDownload the PDF here. Keep Reading...
31 July 2025
June 2025 Quarter Activities and Cashflow Reports
Manuka Resources (MKR:AU) has announced June 2025 Quarter Activities and Cashflow ReportsDownload the PDF here. Keep Reading...
29 July 2025
Maiden Mt Boppy Open Pit Ore Reserve
Manuka Resources (MKR:AU) has announced Maiden Mt Boppy Open Pit Ore ReserveDownload the PDF here. Keep Reading...
10 July 2025
Further Information to 26 June Announcement
Manuka Resources (MKR:AU) has announced Further Information to 26 June AnnouncementDownload the PDF here. Keep Reading...
08 July 2025
Reinstatement to Quotation
Manuka Resources (MKR:AU) has announced Reinstatement to QuotationDownload the PDF here. Keep Reading...
14h
Editor's Picks: Gold, Silver Prices Take a Hit, Mining Stock M&A Heats Up
The gold price moved down this week, taking a turn toward the end of the period that took it below US$4,550 per ounce.Its sister metal silver followed a similar trend, although at one point it briefly approached the US$89 per ounce mark.Precious metals continue to react to the Iran war, which is... Keep Reading...
15 May
Q1 2026 Interim Financial Statements
Sarama Resources (SRR:AU) has announced Q1 2026 Interim Financial StatementsDownload the PDF here. Keep Reading...
15 May
Qtly Activities Report - Q1 26 Mgmt's Discussion & Analysis
Sarama Resources (SRR:AU) has announced Qtly Activities Report - Q1 26 Mgmt's Discussion & AnalysisDownload the PDF here. Keep Reading...
14 May
Precious Metals News: Silver and Platinum Prices Decouple from Gold
Silver and platinum decoupled from gold this week, rallying on supply side challenges as the US-Iran War continues.With the price for energy metal copper hitting a fresh high this week, silver and platinum shook off their precious metals mantles and took a walk on the industrial side. Gold is... Keep Reading...
14 May
Canadian Mining Reforms Fuel Surge in New Investment
Since the start of 2025, the US under President Donald Trump has upended global trade flows, injecting fresh uncertainty into relations with allies and trading partners alike.Canada, despite being one of the US’ closest economic partners, has not escaped the fallout. Tariffs targeting key... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00






