Mt Monger Resources reverse circulation drilling will focus on historical data and low lying gold with the 2500-metre program hoped to unearth scale geological anomalies at the company’s flagship gold project, 45km east of Kambalda in Western Australia.
As gold edges toward US$2000 an ounce, the drilling will form part of the most extensive interrogation of the project’s 130 square kilometre gold heartland in more than two decades.
The project – comprising 12 tenements, including nine exploration licences and three prospecting licences – is considered highly prospective for gold, with a long history of gold production and numerous drill-ready exploration targets.
“Our exploration team has identified numerous opportunities to increase the size and continuity of known gold mineralisation and potentially make new discoveries – we are keen to test these targets with the drilling,” managing director Lachlan Reynolds said.
The company is also claiming a stake in the booming battery metal market, acquiring three highly prospective projects near Ravensthorpe.
MTM’s Australian Stock Exchange-listed share price was trading at 18c today (9:34 am UTC+ 8 hours).