woodchuck partial drilling assays

Exploration Office
11A Croydon Rd
Keswick SA 5035
Tel +61 8 8375 3900
Fax +61 8 8375 3999
ABN 96 110 336 733 www.monaxmining.com.au
ASX RELEASE
For Immediate Release
19 December 2006
WOODCHUCK DRILLHOLE (WDDD1) PARTIAL ASSAY RESULTS
Monax Mining Limited (ASX Code ‘MOX’) is pleased to announce the assay results for the
top section of the second drill hole (Woodchuck – WDDD1) of the Punt Hill drilling
program. This drill hole targeted the central part of an 8 km linear north-west gravity
anomaly (Figure 1).
Assay results include a zone of rare earth element mineralisation of 18 m @ 0.42%
Lanthanum and Cerium (La + Ce) from 648m to 666m. Rare earth element mineralisation
is a common feature in iron oxide copper-gold style deposits such as Olympic Dam.
Beneath this is a broad zone of copper mineralisation of 70m @ 0.41% Cu, from 683m to
753m including 28m @ 0.82% Cu, 10 g/t Ag from 683m to 711m.
Individual metre assays from higher grade zones identified visually, some of which were
pictured in the release announced on the 10 October 2006 assayed up to 2.6% Cu.
Assays for the interval 816m to 975m have yet to be received.
Assays from the third hole at the Groundhog target are expected early in January 2007.
The Punt Hill prospect is located 130 km north of Port Augusta in South Australia.
Michael Schwarz
Managing Director
Monax Mining Limited
For further information please contact:
Michael Schwarz, Duncan Gordon
Managing Director, Monax Mining Investor Relations
Ph: (08) 8375 3900 Ph: 0404 006 444
Email: [email protected]