Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Golden Mile has completed a follow-up and infill auger sampling program at the prospective Monarch Gold Trend
  • The results refine the location and continuity of gold anomalies, and highlight priority areas for drill testing
  • Geochemical analysis shows the gold anomalies are controlled by mineralised structures and prominent granite-greenstone boundaries
  • Drilling is planned to begin later this quarter after statutory approvals are granted

Golden Mile Resources has completed a follow-up and infill auger sampling program over the prospective Monarch Gold Trend in the North-Eastern Goldfields in WA.

The gold trend is located approximately 40 kilometres northeast of Leonora and is interpreted to cover the eastern part of the Mertondale Shear Zone along the granite-greenstone belt, which is considered prospective for gold mineralisation.

The MGT is next to both the Mertondale Project being developed by KIN Mining and the Redcliffe Project which is being developed by NTM Gold.

Previous sampling on the MGT outlined a gold anomalism which stretches over approximately 11 kilometres of strike. This confirms that the MGT contains a significant gold mineralised system and verifies the exploration potential for the discovery of gold deposits within Golden Mile’s tenements.

Infill sampling was then completed on a more closely space grid in order to refine the locations, orientation and continuity of the geochemical anomalies in key areas.

A total of 784 infill auger drill holes were completed which bought the sample spacing down to a 100 by 100 metre grid.

The end of hole samples were assayed for gold and a multi-element suit with the results showing that the infill has significantly purified the known anomalies. This has allowed Golden Mile to review their priorities and provide a better understanding of the geological controls of gold mineralisation.

Geochemical analysis of the anomalies indicate that the regional controls on the distribution of the gold anomalies are related to mineralised structures and a prominent north-south trending granite greenstone contact.

These results have given Golden Mile the confidence that there is an extensive gold mineralised system along the Monarch trend.

Drill targets are being refined and a first pass drilling program will now be implemented to test the priority areas – subject to the granting of permits.

Golden Mile is also awaiting on results of an extensive auger sampling program that was completed over the Benalla Gold Trend which is approximately 10 kilometres south of the MGT.

The potential also exists for Benalla to host significant gold mineralisation that has not yet been tested with modern exploration methods.

G88 by the numbers
More From The Market Herald
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) achieves record net income in June quarter

Champion Iron (ASX:CIA) has achieved a record net income of C$75.6 million (roughly A$78.9 million) during…
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) to return to full production at Bloom Lake

As of April 15, mining services have been deemed a "priority service", so Champion can ramp…
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) winds down mining at Bloom Lake

Mining company Champion Iron (CIA) will decrease operations at its Bloom Lake mine in Canada, per a government directive.

" A recommissioned mine pushes Champion Iron over a significant milestone

Canadian based mining explorer Champion Iron reached its ten-millionth shipped tonne of iron ore today, thanks…