08:50 AM EDT, 07/29/2025 (MT Newswires) -- Mandalay Resources ( MNDJF ) reported Tuesday a new high-grade gold trend at Brunswick South within the Costerfield gold-antimony mine in Australia.

According to a statement, all three drillholes hit high-grade veining; drill results included 76.6 grams per tonne (g/t) gold over 0.49 meters, 265.0 g/t gold and 0.7% antimony over 0.29 meters, and 52.3 g/t gold over 1.69 meters.

"We are extremely excited about the new discovery at Brunswick South following on the heels of our success at True Blue," said Frazer Bourchier, president and CEO of Mandalay. "Brunswick South is within 300 meters of existing underground infrastructure, providing potential near term mine life extension of Costerfield."

Mandalay said it will ramp up drilling from both surface and underground to advance the new discovery. "When added to the ongoing drilling at the True Blue discovery, Costerfield is delivering value to shareholders through the drill bit. Costerfield is expected to be a strong cash-flow generator for the combined Alkane-Mandalay following the anticipated closing of the merger of the two companies on August 5, 2025."