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Syndicated Metals Ltd.
Summary
| Project: | Monument | |
|---|---|---|
| Deposit: | Korong | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-12-2016: Syndicated Metals Ltd. announces an Exploration/Drilling Update report for its Korong deposit at the Monument project. Drilling results incl. 10m @ 1.21g/t Au from 63m. Syndicated Metals (ASX: SMD) is pleased to report further strong assay resu | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Munckton (Internal) | |
| ABSTRACT: | Syndicated Metals (ASX: SMD) is pleased to report further strong assay results from the recently completed initial drilling program at the Korong prospect, part of the Company’s 100%‐owned Monument Gold Project in the world‐class Laverton gold district of WA (Figure 1). All assay results have now been received for the 29‐hole Reverse Circulation (RC) and 7 hole Diamond (DD) drilling program (refer to SMD Announcement dated 24 October). Results for the first seven RC holes were reported on 28 November, together with results for the first two DD holes. Drilling of all seven diamond holes has now been completed with assays outstanding for four holes. The latest results further enhance 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. Gold mineralisation at Korong has so far been delineated over a strike length of 500m and a down‐dip extent of 200m with average intersection thickness of 5m. Several shoots of higher grade mineralisation have been intersected within the mineralisation envelope, also plunging to the north. The drilling has also demonstrated that the mineralisation remains open in several directions, with significant potential to be expanded with further drilling. This potential will be tested with follow‐up RC drilling early next year, to be undertaken in parallel with a significantly expanded multi‐pronged exploration campaign at the Monument Project. | |
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