- Mt Monger Resources (MTM) intersects gold mineralisation at Duchess of York Prospect, within its namesake project in Western Australia
- MTM completed 28 reverse circulation percussion drill holes to test known gold mineralisation from historic work
- Results indicate the gold mineralisation is open to the south where there’s no previous drilling along strike
- The company believes there are more gold-bearing structures to be found in the area and has begun preparations for fill-in work
- Shares have been trading 18.2 per cent lower at 18 cents at 12:58pm AEST
Mt Monger Resources (MTM) have received drill results from the Duchess of York Prospect, part of its Mt Monger Gold Project in Western Australia.
The drilling campaign included 28 reverse circulation percussion drill holes with the aim of testing known gold mineralisation.
MTM said the work has successfully intersected gold mineralisation which is open to the south where there is no previous drilling along strike.
Results included six metres at 1.15 grams per tonne (g/t) gold from 21 metres and six metres at 0.93 g/t gold from 72 metres.
A number of shallow gold intersections were identified along strike associated with newly discovered structures, grades included six metres at 2.16 g/t gold from 66 metres and three metres at 0.72 g/t gold from 33 metres.
Additionally, the company reported that drill testing of historical soil sample anomalies intersected a number of mineralised zones up to 500 metres to the northeast of Duchess of York, potentially representing an en-echelon continuation of the structure.
Managing Director Lachlan Reynolds said the results confirm the company’s premise that there are more gold-bearing structures to be found in the area.
“Our exploration team has done an exceptional job getting this first drilling program completed and the work has successfully identified a number of areas that will require further follow-up.”
In that vein, the company has begun its preparation to rapidly undertake the fill-in work.
Shares were trading 18.2 per cent lower at 18 cents at 12:58pm AEST.