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Syndicated Metals Ltd.
Summary
| Project: | Monument | |
|---|---|---|
| Deposit: | Korong | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-11-2016: Syndicated Metals Ltd. announces an Exploration/Drilling Update report for its Korong deposit at the Monument project. Drilling results incl. 6m @ 7.28g/t Au from 79m. Syndicated Metals (ASX: SMD) is pleased to report strong assay results from | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Munckton (Internal) | |
| ABSTRACT: | Syndicated Metals (ASX: SMD) is pleased to report strong assay results from the first holes drilled as part of its maiden exploration program at the Monument Gold Project in the Laverton region of WA (Figure 1). Drilling commenced in late October (refer to SMD Announcement dated 24 October) as part of a multi‐pronged exploration campaign (refer to SMD Announcement dated 5 October). The results received to date confirm Syndicated’s view that the Korong Prospect, the first prospect to be drill tested at Monument, has the potential to be a large scale, high quality BIF hosted gold system. The gold mineralisation to date has been defined over at least a 400m strike length and is considered to have strong similarities with Dacian Gold’s Westralia gold deposit, located along strike to the south. The Monument Project comprises a 210km2 tenement package located approximately 55km west of Laverton in the world‐class Laverton gold district of WA, which hosts numerous multi‐ million ounce gold mines such as Sunrise Dam (+10Moz), Wallaby (+8Moz), Granny Smith (+2Moz) and Lancefield (+2Moz). The project covers a 16km strike length of the same BIF (banded iron formation/porphyry) sequence which hosts the key Westralia and Morgan’s North deposits at Dacian Gold’s (ASX: DCN) Mount Morgan’s Project (3.3Moz) (refer Dacian Gold announcement 25 July 2016). The Korong Prospect is the first target to be tested along a 16km strike of favourable stratigraphy and major gold‐bearing structures. While the BIF hosted mineralisation at and around Korong is the immediate focus, the wider project is highly prospective for other styles of gold mineralisation. | |
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