11:40 AM EST, 12/19/2024 (MT Newswires) -- (Updates shares.)

Mandalay Resources ( MNDJF ) reported Thursday the discovery of a new gold domain at the Bjorkdal operation in Sweden.

The company said key intercepts from the north zone below the Marble discovery include 178.9 grams per tonne (g/t) gold over 1.15 meters, 39.6 g/t gold over 3.90 meters and 69.4 g/t gold over 0.80 meters.

"The newly discovered North Zone Below Marble exhibits consistent, high-grade veining approximately 200 meters north of the current underground mine," said Chris Davis, Mandalay's vice president of exploration and operational geology. "The veining architecture is similar to the Main Zone, known for its consistently higher-grade ore. This discovery remains open at depth and along strike."

Meanwhile, other drill results include 115.8 g/t gold over 1.85 meters from the main zone and 3.4 g/t gold over 7.40 meters from the Aurora zone.

Mandalay shares were last seen down $0.12 to $4.05 on the Toronto Stock Exchange.

Price: 4.05, Change: -0.12, Percent Change: -2.88