Brilliant announcement guys, fantastic stuff. As mentioned, still plenty of assay results pending!
Summary from Andrew Munckton:
MANAGEMENT COMMENT Syndicated’s Managing Director, Andrew Munckton, said the initial drilling results provided a clear indication that the Korong Prospect has the potential to develop into a significant gold system.
“This is an excellent start to our maiden exploration program at the recently acquired Monument Project, with initial drilling results confirming that we have identified the start of what potentially is a major gold system.
“Korong is located in the same rocks and along the same trend that hosts the multi‐million ounce gold deposits that Dacian Gold has committed to bringing into production to our immediate south. In our view the mineralisation at Korong has not been closed off in any direction, and there is no reason why gold systems of the scale seen at the nearby Mount Morgan’s Project cannot occur on our tenements.
“Our program of drilling has so far confirmed the results of historical drilling and given us a lot of confidence in the opportunity to significantly expand the system and in its potential to host a significant high‐grade gold component.
“In terms of the wider potential, it is also important to remember that this is only a small part of our overall project area. We are now looking at the potential deeper in the system for additional BIF‐hosted mineralisation and we are confident that the recently completed IP survey will identify additional high‐priority targets for drill testing. We look forward to receiving the results of this survey and collating this information with the full assay results from the drilling.”
SMD Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
