Mandalay Discovers New High-Grade Gold Trend at Brunswick South, Adjacent to Existing Costerfield Infrastructure

Core Insights - Mandalay Resources Corporation announced significant exploration results from the Brunswick South extension at the Costerfield gold-antimony mine in Australia, indicating potential for near-term mine life extension and increased cash flow generation following the merger with Alkane Resources [1][3][21]. Exploration Results - The Brunswick deposit has been identified with high-grade gold and antimony mineralization, with three drillholes intersecting high-grade gold across a 175-meter strike length and 30-meter vertical extent [3][6][13]. - Specific drill results include: - BD387: 76.6 g/t Au over 0.49 m (ETW 0.44 m) - BD388: 265.0 g/t Au and 0.7% Sb over 0.29 m (ETW 0.17 m) - BD391: 52.3 g/t Au over 1.69 m (ETW 1.58 m) [6][27]. Mining Context - The Brunswick deposit is strategically located within 300 meters of existing underground infrastructure, facilitating easier access for further drilling and potential resource extraction [3][5]. - Current mining activities focus on a high-grade zone known as the K-R Panel, with plans to construct an underground drill platform to expedite exploration [4][5]. Future Plans - The company plans to ramp up drilling efforts from both surface and underground to further evaluate the Brunswick South discovery and its potential [3][21]. - Follow-up drilling has commenced to investigate both strike and down-dip extensions of the new high-grade area, with additional rigs expected to arrive in August 2025 [21][22]. Company Overview - Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, focused on growing production and reducing costs to enhance cash flow [25].