MOX 0.00% 0.2¢ monax mining limited

punt hill drilling update more kryptonite

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    They found more kryptonite superman better watch out lol


    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
    9 November 2006
    PUNT HILL DRILLING UPDATE
    Monax Mining Limited (ASX Code ‘MOX’) is pleased to announce the completion of the
    fifth drill hole (Beauregard Lee) of the Punt Hill drilling program. This drill hole targeted a
    second interpreted alteration system 8.7 km to the northwest of the first mineralised
    system identified by three previous drill holes (Whistlepig, Woodchuck and Groundhog).
    The drill hole is within a separate gravity anomaly along the Groundhog Gravity Trend.
    The Beauregard Lee drill hole has confirmed the presence of a second iron oxide
    alteration system in this area (refer figure 1). The drill hole intersected approximately 33m
    of intense hematite alteration and breccia from 540 m. The hole then passed into
    hematite-chlorite-sericite altered granite from 573 m to 599 m. From 599 m to 637 m the
    hole intersected 38 m of intense hematite alteration with several zones of strong
    brecciation. From 637 m to 822 m the hole returned to hematite-chlorite-sericite altered
    granite. The hole was terminated at 822 m.
    The Beauregard Lee drill hole confirms the presence of a second iron oxide alteration
    system within the Punt Hill tenement. Further work is being undertaken to remodel these
    gravity anomalies to remove residual terrain effects within the target area. This will allow
    more accurate location of subsequent drill holes. The drill rig has now moved onto the
    Punxsutawney Phil site where a drill hole will test the southern extension of this new iron
    oxide alteration system.
    The Punt Hill prospect is located 130 km north of Port Augusta in South Australia.
    Michael Schwarz
    Managing Director
    Monax Mining Limited
    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
    Figure 1. Punt Hill iron oxide copper-uranium-gold targets on residual magnetic image
    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]
    The information in this report that relates to Exploration Results, Mineral Resources or Ore
    Reserves is based on information compiled by Mr M P Schwarz, who is a Member of the Australian
    Institute of Geoscientists. Mr Schwarz is employed full time by the Company as Managing Director
    and, has a minimum of five years relevant experience in the style of mineralisation and type of
    deposit under consideration and qualifies as a Competent Person as defined in the 2004 edition of
    the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
    Reserves” Mr Schwarz consents to the inclusion of the information in this report in the form and
    context in which it appears.
 
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