Mandalay Resources Corporation Provides Update on Challacollo Infill Drilling and Feasibility Study Progress
Brad Mills, CEO of Mandalay, commented, “The feasibility study launched in March of this year is on track for its intended conclusion in the first quarter of 2015. We have identified and hired an excellent management team for the project, who are conducting the geological, metallurgical, hydrological, infrastructure, environmental and cultural studies at the planned pace and cost.”
Mr. Mills continued, “Drilling results to date have demonstrated consistent continuity of mineralization and confirmed similar grades to those derived from previous drilling conducted by Silver Standard, from whom Mandalay purchased the project in February of this year. These drill results are also consistent with the Independent Technical Report and Mineral Resource estimated by RPA, published in January of this year. These new results give us confidence that the program will be successful in its objective of upgrading substantially all of the previously Inferred Mineral Resource to Indicated, ready to convert to Mineral Reserves once they are incorporated into a mine plan as part of a successful conclusion of the feasibility study.”
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