Monax Mining (ASX:MOX) has confirmed the existence of a shallower dense chargeable body at its Parndana zinc, lead and silver project on Kangaroo Island in South Australia.
This follows completion of the micro-gravity survey and target modelling.
The gravity data was collected along the three northeast trending induced polarisation traverses.
Besides the new zone constrained within the Cygnet-Snelling Shear Zone at a depth of between 100 metres to 200 metres, the data also shows a smaller anomaly located approximately 400 metres to the northeast of the main gravity/chargeable anomaly.
Monax is planning to drill three holes from early August 2014 to test the main gravity/chargeable anomaly.
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