Newsletter No 2, 24 January 2017

Brisbane Queensland Australia, 24 January 2017: MY Mining Limited (“Company” or “MYM”) is pleased to provide the following update regarding its 100%-held Cawarral Gold project (via its wholly owned subsidiary, Zhong Hao Mining Pty Ltd).

  • An extensive SGH (Spatiotemporal Geochemical Hydrocarbon) survey was completed over the project area. The samples were collected by GeosRock Exploration Pty Ltd, then processed and interpreted by Activation Laboratories Ltd (Actlabs), Canada.
  • Confidence level in the interpretation is graded out of a possible score of 6.0, with 6.0 being the highest level of confidence. The coincidence of the gold and copper data raised the level of confidence grading for a gold target to 6.0 out of 6.0 in the Cawarral project.
  • Stage 1 of the Preliminary exploration of the Cawarral Gold project has been completed. Potential drill targets have been identified and drilling is expected to commence in February 2017.

 

The area focused on for field study encompassed the northern and western perimeter of a trachyte intrusion mapped as Mt Wheeler, traditionally known as Gawula. The geologic model targeted is intrusive related gold deposits hosted within the surrounding serpentinized gabbroic unit. There are numerous historic gold workings in the project area and southward through Cawarral towards Mt Chalmers. The project area was determined based upon the geologic potential while consideration was given to minimising land management and property access issues by limiting the inclusion of smaller landholdings.

SGH Surveys

A Spatiotemporal Geochemical Hydrocarbon (SGH) survey was completed over the project area collecting soil samples on a 150 metre square grid pattern where possible. The SGH analysis gave a strong indication for gold which was augmented by a copper anomaly across the northern end of the project area. The sampling collection method involved ground positioning with handheld GPS on a 150 metre square grid where accessible. A handful sized sample of top soil from just below any humus layer is collected into a plastic zip lock bag using a shovel. Larger stones are removed by hand.

SGH essentially measures in parts per trillion the hydrocarbon gasses emitted by dying microorganisms associated with specific mineralized horizons. The data is collected and interpreted by Actlabs, Canada. Confidence level in the interpretation is graded out of a possible score of 6.0, with 6.0 being the highest level of confidence.

Interpretation can be provided for a number of elements however in the Cawarral project gold was interpreted primarily and targets were generated with a confidence level of 5.5 out of 6.0. Actlabs advised that there was a secondary signature evident in the data which was interpreted as a copper signature.

 

The coincidence of the gold and copper data raised the level of confidence grading for a gold target to 6.0 out of 6.0 as shown in figures 1 and 2.

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Figure 1. SGH Gold Pathfinder Class Map

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Figure 2. SGH Gold Pathfinder Class Map 3D View with Targeting

Drilling Targets

Previous drilling in the project area has been documented by Marlborough Gold in 1997 and Metallica Minerals in 1998. Of interest to this study and planned drilling are the Metallica percussion boreholes MWC001, -002, -018 & -019 which possibly were sited too far south to intersect the Galawa vein immediately down dip of the old workings as is presumed was their targeting plan. Two potential drill pads closer to the Galawa target are proposed as seen in Figure 3.

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Figure 3. Galawa Mine Targeting

The SGH survey defined an unanticipated east west trend north of Mt Wheeler in both the gold and copper pathfinder class indicators. Targeting of drill holes has focused on the larger of two in a chain of apical anomalies which coincide with redox zones as interpreted by Actlabs. It is theorized that each apical anomaly represents a pod of mineralization associated with north south cross shearing along strike of a common east west break providing a string of potential drill targets. The preliminary drill holes will be orientated southeast and southwest respectively in order to intersect strata across strike of the anticipated shearing yet still transect the anomalies from north to south.

The objective of this current stage of the exploration program has been to identify four potential drill targets and the process to permit drilling is currently underway with all applications being submitted. Drilling is expected to commence in February 2017, with three pad positions targeting the SGH anomalies in the northern part of the project area and one targeting the Galawa Mine as referred to above.

The complete SGH reports from Actlabs can be viewed at the following link.

https://www.dropbox.com/sh/sfgd8u1awjihfzn/AABYgi9XvjIDWb9TdnAIX3Vla?dl=0

MY Mining Limited

For further information please contact:

Dr Hsin Wei Wu
T: +61 7 3377 6734
E: hww@mymining.com.au

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