Strong results from geophysical IP survey support drill targeting at Korong Prospect
HIGHLIGHTS
RC drilling underway at the Korong Prospect at the 100%‐owned Monument Gold Project, near Laverton Western Australia. Diamond drilling to commence shortly.
The first RC holes will provide precollars for the intial two diamond holes which will target the Korong BIF (“Banded Iron Formation”) where historical drilling has only partially tested a strongly mineralised BIF horizon. Historical drilling intersections include (see Appendix 1 for details):
MK036 MKRC040 MK002 MKRC011 MK012
16m @ 2.80g/t Au (Includes 8m @ 5.53g/t Au) 10m @ 2.96g/t Au (Includes 5m @ 4.60g/t Au) 8m @ 3.50g/t Au (Includes 4m @ 4.70g/t Au)
14m @ 3.20g/t Au 4m @ 5.30g/t Au
A total of 12 diamond holes are planned to test the upper BIF horizon and penetrate the full width of the underlying Korong Ultramafic unit.
A number of additional Reverse Circulation drill holes are designed to in‐fill the mineralisation in the upper BIF horizon.
First assay results from the overall 3,500m program expected within 2‐4 weeks.
Initial results from the Stage 1 Induced Polarisation (“IP”) survey have provided strong
geophysical support for the Korong Prospect drilling.
so waiting for results 2-4 weeks from 24/10/16 ann
its now been three week
hope a good result next week
it will be interesting what is ahead of us
SMD Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
