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Monax Mining Ltd.
Summary
| Project: | Western Queen | |
|---|---|---|
| Deposit: | South, Central | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2018: Monax Mining Ltd. announces a Resource Estimation report for its South, Central deposit at the Western Queen project. Updated Mineral Resource for the Western Queen Project. Monax Mining Limited (Monax or the Company) (ASX:MOX) is pleased to an | |
| Resources: | (Resource, I+I): 962Kt @ 3.9g/t Au for 120Koz contained at Western Queen | |
| CP/QP: | [Resources]: Paul Payne (Internal) | |
| ABSTRACT: | Monax Mining Limited (Monax or the Company) (ASX:MOX) is pleased to announce the results of a Mineral Resource estimate at its Western Queen gold project in Western Australia. The Company commissioned a Mineral Resource estimate for its Western Queen Gold Project and the work was completed by Payne Geological Services Pty Ltd, an external and independent mining consultancy. The Project includes the two previously mined deposits Western Queen South (“WQS”) and Western Queen Central (“WQC”) which had combined previous production of 881,000t at 7.6g/t for 214,000 ounces of contained gold. The updated Mineral Resources remaining at Western Queen beneath the existing mine workings are shown below. Monax recognised the potential for the down-plunge continuation of the deposits and the Company’s first drilling program at the project confirmed an extension to the WQS deposit. The Monax drilling, along with numerous historic holes, was used to estimate the WQS resource. At WQC, the high grade orebody was mined initially via open pit, then via a small underground mine development. The mineralisation was disrupted at the base of the mine by a series of cross-cutting pegmatite dykes which led to the closure of the mining operation in 2002. Historic drilling beneath the pegmatites intersected high grade gold and these holes have been used to define the Mineral Resource at WQC. | |
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