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Monax Mining Ltd.
Summary
| Project: | Western Queen | |
|---|---|---|
| Deposit: | Western Queen | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-1-2018: Monax Mining Ltd. announces an Exploration/Drilling Update report for its Western Queen deposit at the Western Queen project. Drilling results incl. 3.3m @ 7.98g/t Au from 271m. Monax Mining Limited (Monax or the Company) (ASX:MOX) is pleased to | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul Payne (Internal) | |
| ABSTRACT: | Monax Mining Limited (Monax or the Company) (ASX:MOX) is pleased to announce the results of its maiden diamond drilling program at its Western Queen gold project in WA The Company has received the results of the five diamond drill holes MXDD001-005 drilled at the Western Queen South mine, testing the main zone below the existing pit. The holes were designed to provide sufficient drill coverage of the deposit to estimate a resource for the project. The southernmost hole MXDD003 intersected 3.3m at 7.98g/t confirming the continuity of high grade mineralisation for at least 60m past the previous drilling. The high grade zone remains open and is untested beyond that intersection. The confirmation of the continuity of the mineralisation and the fact that the high grade zone is open and untested 60 metres beyond the previous drilling, has given your company the confidence to complete a Resource Estimate for the project, which is expected to be completed by the end of January 2018. Further drilling is planned for the Western Queen deposit, commencing in the June quarter 2018. The Western Queen gold project is located 90km North West of Mt Magnet in WA. Monax is earning a 60% interest in the Western Queen project from Ramelius Resources Limited by expenditure of $2 million over three years. | |
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