Mount Monger Gold, Western Australia

The Mount Monger gold project is 43km east of Kambalda and approximately 70km by road from Kalgoorlie (Figure 1). The project consists of tenement E25/525, which measures 26.6km2.

Figure 1 location plan and regional geology
Figure 1: location plan and regional geology

The project is adjacent to excellent infrastructure. It is 8km east from the currently operating 1.2Mtpa Randalls gold mill and 4.2km west of the Maxwells open pit presently being mined. Access is via the all-weather Mt Monger Road. 
 
Historic Drilling
 
Previous RAB Drilling outlined a 2.5km mineralisation trend along the Bare Hill Shear Zone, open to the north. The mineralisation was interpreted to be hosted within a carbonaceous shale, proximal to the sheared contact between Archaean basalts and sediments. (Figs. 2, 3). Hole KIRC007 returned an intersection 40m @ 2.5g/t Au from 32m. RAB drillhole KSR28 returned f 9m @ 2.3g/t Au from 19m to end of hole. The bottom 1m interval in KSR28 returned 2.0g/t Au and is open at depth.

POZ Phase 1 Drill Program
 
POZ Minerals Limited conducted a Phase 1, 87 hole, 2,344m aircore drilling campaign (MMAC001 to 087) at its Mount Monger gold project from 19 - 24 March 2016. Widespread gold mineralisation identified a lode gold target approximately 3 to 6 metres (true width) by 350m in strike (Figures 3, 4) and largely open at depth. Results include:
 
  • 11m @ 1.7g/t Au from 24m in MMAC062
  • 3m @ 3.2g/t Au from 33m in MMAC066
  • 1m @ 4.2g/t Au from 27m in MMAC067
The Kiaki Soaks gold target area is beneath 11 to 27 metres of cover (Sections A to F) and is hosted in highly weathered felsic sediments. Drilling has confirmed the easterly dipping Bare Hill Shear as the main structural control on mineralisation. 
 
To the west of the shear is basalt. The Bare Hill Shear appears to follow the competency contrast between felsics and basalt. Supergene gold enrichment occurs in places where the lode gold target meets the overlying cover.

Figure 2: Kiaki Soaks Prospect POZ Phase 1 Drilling Results (>0.2 g/t Au)
Kiaki Soaks Prospect POZ Phase 1 Drilling Results

Figure 3: Kiaki Soaks Prospect POZ Phase 1 and Historic Drilling Results (>0.2 g/t Au)
Kiaki Soaks Prospect POZ Phase 1 and Historic Drilling Results
Lode target projected to surface

Kiaki Soaks Prospect Section A - A'
Kiaki Soaks Prospect Section A

Kiaki Soaks Prospect Section B - B'
Kiaki Soaks Prospect Section B

Kiaki Soaks Prospect Section C - C'
Kiaki Soaks Prospect Section C

Kiaki Soaks Prospect Section D - D'
Kiaki Soaks Prospect Section D

Kiaki Soaks Prospect Section E - E'
Kiaki Soaks Prospect Section E

Kiaki Soaks Prospect Section F - F'
Kiaki Soaks Prospect Section F

Future Work
 
A further exploration work program will be planned and implemented to test the Kiaki Soaks lode gold target, most likely shallow aircore drilling which is cost effective and works well in the area.
 
The Company successfully applied for a co-funded drilling grant from the Department of Mines and Petroleum (DMP) for aircore drilling at Mount Monger. The DMP will match POZ’s direct drilling costs, capped at $80,000.

Summary
 
The Mount Monger Gold Project is an excellent addition to the Company's project portfolio.
 
  1. The project is situated within a well endowed gold belt.
  2. The drilling targets are proximal (10km) to an operating gold treatment plant.
  3. Acquisition costs were minimal and consisting only of pegging charges and rents.
  4. The project is 100% POZ and carries no private royalties.
  5. The DMP has granted an $80,000 co-funded drilling grant for exploration drilling undertaken at Mt Monger.
For a very modest outlay, this project provides an excellent opportunity for the Company to gain 100% exposure to a potential new gold discovery.
 
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