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MTM proves its mettle at Mt Monger gold project

28 September 2021
ASX: MTM
Rueben Hale

Mt Monger Resources Limited has demonstrated the potential of its flagship gold project unearthing significant mineralisation and shallow intersections at its Mt Monger site following a highly successful inaugural drilling programme at the company’s Duchess of York prospect, part of Mt Monger gold project near Kalgoorlie in Western Australia.

The company intersected grades as high as an instance of 2.16 grams per tonne of gold discovered in a shallow hole over six meters across 28 reverse circulation percussion drill holes for a total of 3,226 metres of drilling.

“Reverse circulation percussion drilling at the Duchess of York Prospect confirms our premise that there are more gold-bearing structures to be found in the area and that known structures have potential for strike extensions,” managing director Lachlan Reynolds said.

The Perth-based gold, nickel, and rare earth explorer have a contiguous tenement package covering 122 square kilometres in the gold-rich Mt Monger region, 70 kilometres southeast of Kalgoorlie, Western Australia. The tenement is immediately adjacent to the successful Randalls gold processing facility. Mt Monger Resources also has 3,063 square kilometres of highly prospective under-explored land near East Laverton.

The company also confirmed the extension of the gold mineralised zone over 500 metres to the northwest of Duchess of York. They say mineralisation remains open along strike and at depth.

“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,” added Mr Reynolds.

Next on the explorer’s agenda is more drilling to evaluate the extent and continuity of the structures that host the mineralisation. Mt Monger says they are well-positioned to undertake infill work rapidly and has commenced preparations to do the necessary follow-up. Progressing the Company’s rare earth opportunity is also a priority.

The company’s Australian Stock Market listed price was 18.5c today (09:39 am GMT + 8 hours).

COMPANY OVERVIEW

Mt Monger Resources Limited was incorporated in November 2020 for the purpose of consolidating several gold exploration projects in the Mt Monger region of Western Australia.

COMPANY INFORMATION

ASX: MTM

Website

https://mtmongerresources.com.au/
https://www2.asx.com.au/markets/company/mtm

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