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Mt Monger Resources (ASX:MTM) - Managing Director, Lachlan Reynolds
Managing Director, Lachlan Reynolds
Source: Mt Monger Resources
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  • Mt Monger Resources (MTM) identifies high priority gold targets at its namesake project in Western Australia
  • The company has now received assay results from sampling undertaken across the Duchess of York, Kiaki Soaks, Peters Dam and Red Dale North prospects
  • SGS Australia assayed the samples for multielement analysis with the work identifying several significant gold anomalies
  • Mt Monger will shortly begin a drilling program to test the anomalies and their potential
  • Company shares have ended the day 3.33 per cent in the green with shares trading at 15.5 cents

Mt Monger Resources (MTM) has identified high priority gold targets at its namesake gold project in Western Australia.

The company’s Mt Monger project covers an area of 122 square kilometres and lies in the highly prospective Mt Monger region, 70 kilometres south of Kalgoorlie.

Mt Monger has now received assay results from a surface geochemical sampling program with 2340 samples collected.

The samples were collected from four key areas which include the Duchess of York, Kiaki Soaks, Peters Dam and Red Dale North prospects.

Samples were assayed by SGS Australia for multielement analysis with the work identifying several significant gold anomalies.

Duchess of York

Sampling at Duchess of York identified a clear, elevated gold anomaly that extends 1.5 kilometres to the southwest.

This anomaly is associated with multiple historical reverse circulation (RC) holes that contain elevated gold mineralisation.

Kiaki Soaks

Soil sampling at the Kiaki Soaks prospect identified two anomalies with a combined strike length of more than three kilometres.

One of the anomalies correlates with known mineralisation defined by previous drilling while the second anomaly may represent another mineralised structure.

Peters Dam

The anomaly at Peters Dam spans a strike of more than 2.5 kilometres and corresponds with elevated gold grades identified in historical drilling.

Red Dale

Unfortunately, soil sampling at the Red Dale prospect was ineffective, possibly due to extensive cover and active drainage channels in the area.

Gold mineralisation is known in the area and deeper drilling will need to be undertaken to determine whether there are any significant mineralised structures beneath the cover.

Managing Director Lachlan Reynolds commented on the sampling program.

“This successful campaign of soil sampling has provided our exploration team with some excellent new priority areas for follow-up work,” Mr Reynolds commented.

“Furthermore, it gives us confidence that soil sampling can be effectively used as a method to rapidly assess other areas on our project, particularly where historical data is sparse.”

“We are currently working up new drilling targets and are looking forward to mobilising a drilling rig back on-site to evaluate their potential.”

Mt Monger has ended the day 3.33 per cent in the green with shares trading at 15.5 cents in a $6.65 million market cap.

MTM by the numbers
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