Mandalay Resources Corp (TSE:MND) Chief Executive Officer Mark Sander tells Proactive Investors the precious-metals miner has reported encouraging high-grade drill results from exploration under the historic Costerfield mine in Australia.

Sander says the drill results signal a potential mineable ore body. He adds that depending on the results of permitting and infill drilling, there may not be a potential for a long-term upside, while more results are expected in upcoming months.