ASX ANNOUNCEMENT – 24 October 2016 DRILLING UNDERWAY AT MONUMENT...

ASX ANNOUNCEMENT – 24 October 2016

DRILLING UNDERWAY AT MONUMENT GOLD PROJECT, WA

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