Mt Monger Resources will apply some rigour to prospective gold targets following extensive soil sampling of promising prospects at the Mt Monger project near Kalgoorlie in Western Australia.
The company will use an advanced geochemical exploration technique, measuring metal ions, often moving upward from mineral deposits, following a collection of 2,340 samples, focusing on targeted strike extensions of known mineralised structures.
In particular, the program focused on known mineralisation at Duchess of York, Red Dale North prospect in the northwest, and the Kiaki Soaks prospect in the east part of the project area.
The news follows reports of significant mineralisation and shallow intersections at its Mt Monger site following a highly successful inaugural drilling programme at its flagship site in late September.
As turbulent markets remain relatively kind to the precious yellow metal, MTM reported 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.
MTM will undertake a detailed interpretation when sampling results are available and commence drill targeting of significant geochemical anomalies ahead of further exploration.
The company’s Australian Stock Exchange-listed shares were trading at 15.5c (12:08 pm GMT+ 8 hours).