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- Mt Monger Resources (MTM) receives one-metre assay results from reverse circulation drilling at its namesake gold project in Western Australia
- MTM drilled 26 holes to test gold mineralisation and initial results confirmed the presence of gold mineralisation over 250 metres at the Red Dale North prospect
- New results confirm the mineralised zone at the Red Dale North and Duchess of York prospects and also identified mineralisation north of the Gladiator and Peters Dam prospects
- Mt Monger says there’s “certainly scope for the discovery of a larger mineralised system” and further drilling will be conducted
- Company shares are up 8.7 per cent to close at 12.5 cents
Mt Monger Resources (MTM) has received results from one-mete composite samples collected from recent drilling at its namesake project in Western Australia.
Earlier this year, the company drilled 26 reverse circulation (RC) percussion holes at the Mt Monger gold project to test known gold mineralisation at multiple prospects.
The company received initial results in June which highlighted several “significant” intersections and confirmed the presence of a gold mineralised zone over 250 metres long at the Red Dale North prospect.
New assays of the primary one-metre drill samples have reportedly confirmed the mineralised zone at both the Red Dale North and Duchess of York prospects. They also identified mineralisation north of the Gladiator and Peters Dam prospects.
The overall strike length of mineralisation is now considered to extend over 300 metres and remains open along strike and down dip.
Results include one metre at 3.22 g/t gold from 46 metres, one metre at 3.13 g/t gold from 48 metres, and one metre at 0.96 g/t gold from 59 metres.
Managing Director Lachlan Reynolds commented on the latest drill results.
“Pleasingly, the new assays have confirmed the intersections and provided better resolution on the gold grade distribution,” Mr Reynolds said.
“There is certainly scope for the discovery of a larger mineralised system.”
Mt Monger Resources will undertake further drilling to evaluate the extent and continuity of the mineralisation.
Company shares were up 8.7 per cent to close at 12.5 cents.
