- Mt Monger Resources (MTM) receives initial gold assay results from the inaugural reverse circulation (RC) drilling program at the Albion project in WA
- A total of 22 RC holes were drilled at Albion to test the gold and lithium targets recently identified via a geochemical and soil sampling program
- Best results came from hole 22ALRC010 which intersected seven metres at 2.96g/t gold from 36 metres including one metre at 12.2g/t from 39 metres
- The results indicate widespread anomalous gold mineralisation is present at Albion with further drilling required to evaluate the extent and continuity of the structures
- Mt Monger ends the day 10 per cent in the green with shares trading at 11 cents
Mt Monger Resources (MTM) has received initial gold assay results from the inaugural reverse circulation (RC) drilling program at the Albion project in WA.
A total of 22 RC holes, for 1928 metres, were drilled at Albion to test the gold and lithium targets recently identified via a geochemical soil sampling program.
This sampling highlighted extensive surface gold anomalies associated with known historical workings as well as significant lithium anomalies.
Best results came from hole 22ALRC010 which intersected seven metres at 2.96 grams per tonne (g/t) gold from 36 metres including one metre at 12.2g/t from 39 metres.
Other results include three metres at 4.14g/t gold from 123 metres, one metre at 3.03g/t gold from 42 metres and three metres at 2.16g/t gold from 27 metres.
These results indicated widespread anomalous gold mineralisation is present at Albion, however further drilling is required to evaluate the extent and continuity of the mineralisation-hosting structures.
“RC percussion drilling at the Albion prospect confirms our premise that there are more
high-grade gold-bearing structures to be found in the area and that known structures
have potential for strike extensions,” Managing Director Lachlan Reynolds commented.
“Our exploration team has done an exceptional job getting this first drilling program completed and the work has successfully identified several areas that will require further follow-up.
“We are also looking forward to receiving the full multi-element assay results from the
drilling samples so that we can assess what other opportunities, particularly for lithium,
may exist in the project area.”
Mt Monger has ended the day 10 per cent in the green with shares trading at 11 cents.