TORONTO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce high-grade drill results at its True Blue prospect adjacent to the operating Costerfield gold-antimony mine in Victoria, Australia. Highlights of True Blue: High grades intercepted in upward extension of 2024’s maiden Inferred Mineral Resource: 578.

0 g/t gold and 20.5% antimony over 0.47 m (ETW 0.

33 m) in TB031 16.8 g/t gold and 2.4 % antimony over 3.

98 m (ETW 2.56 m) in TB027 Including 172.0 g/t gold and 19.

2% antimony over 0.37 m 161.0 g/t gold over 0.

19 m (ETW 0.15 m) in TB029 Drill testing and soil geochemistry indicate an extensive system with the potential to replicate Costerfield's Central Corridor which has sustained mining the past 15 years; Structural continuity interpreted on 600 m of strike, leaving 3.4 km of the system yet to be tested; and Follow-up drilling at True Blue has commenced with now two rigs mobilizing to further define mineralization and increase deposit confidence.

Frazer Bourchier, President and CEO, commented: “Mandalay has been producing gold and antimony at Costerfield since we acquired the project 15 years ago. We are excited to see True Blue emerging as a potential new frontier for Costerfield, marking an exciting new chapter for Mandalay. This development reinforces our standing position as a growing gold producer and as the leading Western source of the strategic mineral antimony.

Explora.