| Andromeda Metals Limited Announcement 23 March 2018 | Dear Shareholders and Colleagues, Welcome to Andromeda Metals Limited latest company announcement. BUNYIP ? A NEW PAJINGO-STYLE GOLD DISCOVERY IN NORTH QUEENSLAND ? Results for the first seven holes of a planned 25 hole drilling program at the Bunyip epithermal gold prospect include several significant grade gold intervals. ? The style of mineralisation discovered is the same as the nearby Pajingo (>3Moz) and Wirralie (1.1Moz) gold deposits. ? Every one of the 16 holes completed to date has intersected quartz veining, with maximum downhole vein widths of 6 metres. ? Drilling is continuing with more results expected into April. Summary Andromeda Metals is pleased to report that assay results from the first seven RC holes of the maiden drilling program at the Bunyip gold prospect on the Drummond Epithermal Gold Project in Queensland confirm the presence of significant gold mineralisation at depth. Gold intersections recorded to date include: ? 2 metres at 4.36g/t gold from 8 metres in BUNRC001, ? 2 metres at 1.66g/t gold from 13 metres in BUNRC002, ? 1 metre at 2.32g/t gold from 61 metres in BUNRC004, and ? 4 metres at 5.15g/t gold from 7 metres in BUNRC005 As of 20 March 2018 a total of 16 holes had been completed for 1174 metres, with assays received from the first 7 holes. Further batches of samples have been delivered to the commercial laboratory for assay with analysis currently underway. The drilling program is continuing and additional assay results are expected into April. Andromeda Metals? objective with this maiden drilling program is to confirm whether Bunyip might represent a significant new Drummond Basin gold discovery, and these first results are seen as a highly encouraging step in satisfying that objective. The assay results and the geological observations made so far indicate that Bunyip is an epithermal mineral system of substantial size which contains numerous quartz veins, some of which appear to be of significant width. Alteration and sulphide development is widespread and the mineral system is confirmed to host significant grades and widths of gold mineralisation in places. Click here to download the full announcement (PDF 1.02 MB). Should this link not open, go to the Andromeda Metals Limited website at: www.andromet.com.au and follow the link in Recent News. |