Live IPO - Mandrake Resources Limited.
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Mandrake Resources Limited (pending code ASX: MAN) is a gold and base metals exploration company focused on the Berinka Project located in the Pine Creek Orogen, 220km south west of Darwinin the Northern Territory. The Directors believe that the drill ready Barinka project is located in high quality gold exploration ground, in an under-explored area.
Previous drilling at the Berinka project has intersected gold mineralisation associated with sulphide rich veins, with a best intersection of 4m @ 6.56g/t from 32m. This potential is further supported by Kirkland Lake Gold (market cap of over $9 billion) who are investigating restarting their Union Reefs/Cosimo mining and milling operations, also located in Pine Creek Oregon, as early as the second half of 2019.
The Company’s exploration plan is to first undertake a thorough review of previous exploration in the area to capture all geological data (including geophysical data, rock samples, soil samples, past drilling, etc) in a GIS form followed by a reconnaissance field trip visiting outcrops and historic workings. The company notes the previous drilling undertaken by Carpentaria Exploration at the Terry’s Prospect is not fully captured in the NT STRIKE database, so the Company intends to extract the existing data from that work during the first year of exploration.
Pay By: Jul 12th
List Price: $0.02
Minimum Investment: $2,000
Raising: $4.5-$5M