Monument Mining Limited (TSXV: MMY) has confirmed the extension of gold mineralization at the North of Alliance (NOA) group of deposits at the Burnakura project in Western Australia.
The company has now received the results from the Phase 2 diamond drilling (DD) which includes high grades of up to 17.8g/t gold and expanded the known mineralisation for more than 150m vertical depth below the current Mineral Resource at NOA, offering the potential for significant future expansion of the Mineral Resource base.
The site work and data validation to wrap up the Phase 2 drilling programme has now been completed at Burnakura. Together with the Phase 1 drilling programme, the company has tested greenfield targets and extensions to known mineralized structures, and successfully achieved initial objectives with the Phase 1 Junction target discovery and the Phase 2 drilling confirmation of gold mineralization extensions at depth at the NOA group of deposits highlighting the opportunity to grow the Murchison Project organically.
“These latest drilling results continue to demonstrate the potential of the Murchison Project and support our strategy to expand the existing Mineral Resource base that might turn Murchison Project into the company’s cornerstone project,” President and CEO, Cathy Zhai, said.
“We see significant potential for near mine extensions at the NOA group of deposits and across our entire Burnakura and Gabanintha land package.
“The Murchison Project also presents unique opportunities for greenfield targeting and potential for additional discoveries in this mineral-rich geological setting. We will continue to explore all options and opportunities using systematic exploration techniques applied to Monument’s land package.”
Burnakura Drilling Highlights
The Phase 2 drilling Results
The Phase 2 drilling programme is contained within the company’s two-year exploration programme testing extensions of known mineralization down dip of the Burnakura tenements increasing the potential longer term production profile.
Phase 2 Diamond Drilling Results
- Drilling results confirm the extension of gold mineralization, including high grades of up to 17.8g/t gold, for more than 150m vertical depth below the current Mineral Resource at the NOA group of deposits, offering the potential for significant future expansion of the Mineral Resource base.
- Drilling demonstrates an increase in width, grade, and associated alteration of the mineralized package (mine sequence) at depth, affirming that unlocking the potential for the NOA group of deposits rests with a focused exploration program to delineate additional Mineral Resources beneath the historic open pits for underground exploitation.
- Drilling highlights the potential to exploit historic pits deeper and transition to underground mining.
- Furthermore, the drilling program provides more confidence in extending the Mineral Resources beyond the current 1.6km strike limit to the immediate south of NOA 1 pit and north of NOA 7/8 deposits and offers the opportunity to deliver additional significant discoveries along the prospective NOA Shear zone.
- Significant intercepts returned from the outstanding DD portion of Phase 2 drilling programme include:
- 4m at 12.0g/t gold from 392.6m in 21BNRD057 at NOA 7/8 target.
- 1m at 1.2g/t gold from 260m, 1.6m at 1.6g/t gold from 267.8m, and 2m at 17.8g/t gold from 293m in 22BNRD006 at NOA 4-6 target.
- 2.2m at 1.6g/t gold from 441m in 21BNRD055 at NOA 7/8 target.
Follow up Works
A critical technical evaluation, refinement and ranking of all known targets incorporating all data across the extensive tenement package are ongoing over Burnakura and Gabanintha project areas to ensure future exploration efforts continue to deliver the Company’s long-term strategy of turning the Murchison Project into a cornerstone project.
Undertaken the following programmes at Gabanintha:
- To conduct drilling targeting mineralization along strike of existing mineralization trends from the open pits and on parallel and splay mineralized structural trends identified from wide-spaced exploration drilling.
- To conduct drilling beneath the historic Terrells and Canterbury pits to test for mineralization extensions at depth which has not been closed off.
- Further programs might be carried out at Burnakura in future also include but not limited to
- A follow up phase of drilling to provide coverage across the NOA group of deposits testing for a mineralized package deeper to approximately 300m below surface and then infill drilling to provide confidence to grow the Mineral Resources when the estimate is next completed.
- To systematically test for strike continuity along the NOA mineralized structure to delineate further potential open pit and underground Mineral Resources beyond the current 1.6km strike limit.
- Follow up on the new shallow high-grade Junction discovery by drill testing for extensions using RC drilling to potentially progress it rapidly to a Mineral Resource estimation.
For further information please visit: https://monumentmining.com/