Mt Monger (ASX:MTM) shows promising signs near Kalgoorlie
October 21, 2022Mt Monger Resources drilling has returned gold up to 5.01g/t from its prospect areas at the Mt Monger Gold Project near Kalgoorlie in the Eastern Goldfields of Western Australia.
RC drilling re-assay of mineralised intervals included 3.12g/t for 7 metres, including the standout 5.01g/t grade over 4m (2MMRC004).
The Company said the detailed assays confirm significant gold intersections.
“Initial composite sample results from this drilling program highlighted the potential for gold mineralised structures in all the areas which were tested at Mt Monger,” Managing Director Lachlan Reynolds said.
“Pleasingly, the new assays have confirmed the intersections and provided better resolution on the gold grade distribution.
“There is certainly scope for the discovery of a larger mineralised system.
“Based on these new results, the Company is considering further drilling to infill and extend the coverage of the intersected mineralised structures.”
Price Action
The Company’s ASX-listed shares have risen 8.69 per cent to 12.5c at Market Open.
Highlight Results
22MMRC004–7m@3.12g/tAufrom48m including 4m @ 5.01g/t Au from 48m
22MMRC009–4m@1.50g/tAufrom45m including 1m @ 3.22g/t Au from 46m
22MMRC024–3m@1.34g/tAufrom46m, including 1m @ 3.13g/t Au from 48m and 1m @ 0.96g/t Au from 59m
22MMRC006–2m @1.24g/t from 24m and 6m@0.79/tAu from 30m, including 3m @ 1.12g/t from 31m and 3m @ 0.85g/t from 37m
Hole22MMRC011–4m@1.19g/tAufrom58m
22MMRC010–1m@0.79g/tAufrom30m
22MMRC022–1m@0.75g/tAufrom24m
Next Steps
Results of the more detailed assays confirm widespread gold mineralisation at the Red Dale North, North Gladiator, northwest Duchess of York, and the Peters Dams prospects.
Further drilling is required to evaluate the extent and continuity of the mineralisation structures.
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