Monty was first identified by Talisman in June 2011 when the Company intersected a narrow zone of potentially remobilised copper in hole SPD020, which returned 0.3m grading 7.6% copper from 502m. Follow-up drill hole SPD021 also intersected a zone of potentially remobilised copper with 0.5m grading 1.3% copper and 1.0g/t gold from 347.5m.
Following the signing of the farm-in joint venture with Sandfire Resources NL in December 2013 (please refer to the Springfield Joint Venture for more details), Sandfire undertook an extensive data review of the entire Springfield Project, which led to an extensive fixed-loop EM (FLEM) survey and diamond drilling campaign over key targets.
In May 2015, Sandfire completed diamond drill hole TLDD0002A at Monty to test a subtle, late-time EM anomaly at a depth of ~400m. This hole intersected a stratigraphic horizon similar to the exhalative environment seen adjacent to massive sulphides at DeGrussa, as well as trace disseminated chalcopyrite. A strong down-hole EM (DHEM) conductor was identified 15m off-hole at TLDD0002A and follow-up drilling was recommended.
On 25 June 2015, follow-up drill hole TLDD0004A returned assay results of 16.5m grading 18.9% copper and 2.1g/t gold from 409.5m down-hole.
Follow-up drilling along 80 metres along strike from TLDD0004A subsequently encountered additional massive sulphides, with hole TLDD0005 returning a high-grade massive sulphide intersection of 9.2m grading 11.8% Cu and 2.9g/t Au from 417.0m down-hole within a broader mineralised zone of 13.1 metres grading 8.4% Cu and 2.1g/t Au from 416.7m down-hole.
TLRC0004 intersected 18m of massive sulphides at a down-hole depth of 108m a further 135m along strike from TLDD0005 on 20 July 2015. The drilling program at Monty expanded and continued, culminating in the maiden Mineral Resource estimate being released on 13 April 2016.
AUR Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
