Mt Monger Resources (ASX:MTM) reports that ‘significant’ gold mineralisation has been intersected at its Albion Project located near Norseman in Western Australia.
The company that it has received the initial gold assay results for the inaugural reverse circulation (RC) drilling program and that multi-element assays, including lithium, are still pending the drilling samples.
Drilling has intersected has successfully intersected gold mineralisation beneath the historical Albion workings and has identified other mineralised structures further to the southwest where there has been no previous drilling.
Importantly, the gold mineralisation appears to be quite ‘nuggety’ in its distribution and an assessment of composite 3m samples versus primary 1m drilling samples indicates that composite samples may be under reporting the true gold grade.
Given the potentially ‘nuggety’ gold distribution, the company intends to assay additional 1m drilling samples and expects further significant gold results once these assays are completed.
Commenting on the results, Mt Monger Resources Managing Director Lachlan Reynolds said: “RC percussion drilling at the Albion Prospect confirms our premise that there are more high-grade gold-bearing structures to be found in the area and that known structures have potential for strike extensions.
Our exploration team has done an exceptional job getting this first drilling program completed and the work has successfully identified several areas that will require further follow-up.
“We are also looking forward to receiving the full multi-element assay results”
We are also looking forward to receiving the full multi-element assay results from the drilling samples so that we can assess what other opportunities, particularly for lithium, may exist in the project area.”
The Albion project is located some 35km to the south of the town of Norseman and comprises a single exploration licence.
The company has executed an option agreement to explore and subsequently acquire a 100% interest in the project, which contains numerous ‘high-grade’ historical workings, is previously untested by drilling and is considered to be ‘highly prospective’ for the discovery of a significant gold resource.
Images: Mt Monger Resources Ltd
