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- Monger Gold (MMG) discovers new style of gold mineralisation at the Providence prospect, located within its Mt Monger North project in WA
- MMG received drill results including 21.3g/t gold from 130 metres within massive pyrrhotite and chalcopyrite which is reportedly new for this prospect
- Chairman Peretz Schapiro says the current round of drilling “has shone a valuable light” on the prospect
- The company is working towards delivering a maiden mineral resource estimate for Providence
- On the market this afternoon, Monger Gold shares are up 4.67 per cent and trading at 39.3 cents
Diamond drilling at Monger Gold’s (MMG) Providence prospect has uncovered further significant gold results.
The prospect is located at its Mt Monger North project in the Greenstone Belt in WA.
Results from the latest drilling included one metre at 19.19g/t gold from 99 metres in hole 22MNDD001.
Hole 22MNDD003 intersected eight metres at 4.34g/t from 123 metres including 21.3g/t from 130 metres.
Interestingly, this hole uncovered large quartz-carbonate veins with massive pyrrhotite and chalcopyrite within the dolerite. This is reportedly the first time large quantities of these types of sulphides have been found to be associated with gold mineralisation at the Providence prospect.
Chairman Peretz Schapiro said the current round of drilling “has shone a valuable light” on the prospect.
“We are excited to have discovered new styles of gold mineralisation which are not
typical of the area,” he said.
“The high-grade gold result of 21.3g/t within massive pyrrhotite and chalcopyrite looks remarkable but more importantly is a new style of gold mineralisation.”
Further analysis of the drill core is currently underway as the company works towards a maiden mineral resource (MRE) at Providence.
“This work will also help pinpoint the location of additional drill holes, as we look to grow the gold system which remains open to the north-west and south-west,” Mr Schapiro said.
Diamond drilling has allowed a more robust deposit model for resource estimation and further drill targeting.
On the market this afternoon, Monger Gold shares were up 4.67 per cent and trading at 39.3 cents each at 2:45 pm AEST.
