“We have budgeted for a full year exploration program of $10...

“We have budgeted for a full year exploration program of $10 million,” he said. “Drilling is due to commence in
May on the most prospective advanced projects including the Galaxy ‘Big Pit’ concept.” The higher gold prices
will have a significant impact on resource modelling.
Monarch also intends to investigate the economic iron ore potential in the Mount Magnet area. A high level
review including detailed magnetics and ground knowledge indicates potential for significant tonnages of iron
formation. Further work is required to determine the economic potential.
“The Monarch Board is confident 2008 will