Join our daily newsletter At The Bell to receive exclusive market insights
- Monger Gold (MMG) receives “strong” soil assay results of up to 540 parts per million (ppm) lithium from the Scotty lithium project in Nevada, US
- The company received results from 643 systematic, single-hole auger samples collected from across the project
- Of the results, 177 samples recorded results greater than 200 ppm lithium, while defining new targets at the project
- Magnetotelluric surveys within each zone will now be commissioned to optimise subsequent drilling programs
- Monger Gold last traded at 51 cents on September 20
Monger Gold (MMG) has received “strong” soil assay results of up to 540 parts per million (ppm) lithium from the Scotty lithium project in Nevada, US.
The company received results from 643 systematic, single-hole auger samples taken from across the project.
Of the results, 177 samples recorded results greater than 200 ppm lithium, with 89 samples recording values greater than 264 ppm lithium.
The results also defined new targets at the project, each of which the company reported offers standalone exploration potential.
“These exceptional assay results from this maiden program across areas never sampled before, discovered higher than anticipated lithium assays over larger and more connected areas than expected on our Scotty lithium project,” Monger CEO Adam Ritchie said.
“The peak value over the Bonnie Claire Resource is 264 ppm lithium, however on Monger Gold’s claims the peak value is more than double this at 540 ppm lithium.”
“These results have greatly assisted in finalising our next steps and represent a key milestone in the advancement of the Scotty lithium project.”
Magnetotelluric surveys within each zone will now be commissioned to define the basin extent and optimise subsequent drilling programs.
Monger Gold last traded at 51 cents on September 20.
