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MTM drills down on Duchess of York’s promise

9 August 2021 12:02
ASX: MTM

Mt Monger Resources Limited (MTM) is eyeing opportunities as drilling gets underway, ground-truthing recognised areas and the potential while exploring new targets at the Duchess of York Prospect, part of the company’s Mt Monger Gold Project near Kalgoorlie.

The company is completing a minimum of 1600 metres of reverse circulation percussion drilling into historical intersections, including 20 metres at 2.88 grams gold, while concurrently soil sampling new exploration targets identified along a strike of mineralised structure to the southeast of the deposit.

The news comes less than a week after MTM announced it had been granted three licenses to explore ground prospective for rare earth elements, gold and nickel in the northern part of its promising East Laverton project in Western Australia’s north-eastern Goldfields.

“We are excited to get this first phase of our exploration program at the Mt Monger Project underway,” managing director Lachlan Reynolds said.

“Our exploration team has identified a number of opportunities for both increasing the size and continuity of known gold deposits and for potentially making new discoveries, and we are keen to implement the necessary work to test these targets.”

MTM expects the drilling to take 10 to 14 days, with further scout drilling on other known geochemical and geophysical targets in the vicinity potentially undertaken and subject to rig availability.

Assay results will be available in due course.

The company’s Australian Stock Exchange-listed shares opened trading at 17c (8:00 am GMT+ 8 hours).

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