Manhattan Corporation Limited
Manhattan Corporation Limited (ASX:MHC) is an explorer with its head office based in Perth, West Australia.
Manhattan’s strategy is to grow shareholder value through decisive project acquisition, innovative exploration, and ore discovery.
Manhattan announced on the 2 December 2019 that it had signed an agreement to acquire 100% of Awati Resources Limited and its flagship Tibooburra Gold Project located in north-western NSW, Australia.
This acquisition delivers MHC early-mover advantage in an emerging high-grade gold district that holds multi-million-ounce gold discovery potential.
The structure, age of mineralisation (440Ma) and tectonic features of the Tibooburra Goldfields has similarities to the Victorian Goldfields where large orogenic gold deposits continue to be discovered (e.g. Fosterville).
The Tibooburra Gold Project:
- contains historic and recently discovered high-grade orogenic gold deposits
- has 160-strike-km of gold-anomalous structures (New Bendigo Fault)
- comprises 10 granted exploration licences for 1,020km2
- has seven Priority Gold Targets already identified with multi-million-ounce gold potential for drill testing in early 2020
- drill-ready targets at the New Bendigo Project, where a north-plunging, high-grade gold shoot is open at depth to the north