- Monger Gold (MMG) receives first drill results from a new prospect at the Mt Monger North project in Australia’s Western Goldfields Province
- A reverse circulation hole was drilled on the newly discovered Hoffmann North prospect to follow up on previous drilling in the surrounding area
- The Hoffmann North prospect includes subvertical veins that have not been the subject of much previous drilling due to deep alteration of the volcanic host rock
- Grades peaked at 3.27 g/t gold and follow-up drilling is planned to target mineralized quartz veins that remain open at depth and laterally.
- Monger Gold shares end the day 11.4% in the green to trade at 24.5 cents
Monger Gold (MMG) has received the first drill results from a new prospect at the Mt Monger North project in the Eastern Goldfields Province of Western Australia.
A reverse circulation (RC) hole was drilled in the newly discovered Hoffmann North prospect to follow up on previous drilling in the surrounding area which included one meter at 6.26 grams per tonne (g/t) gold from 39 meters.
The Hoffmann North prospect is located 200 meters northwest of the Hoffmann prospect and comprises subvertical quartz veins in a felsic volcanic host rock.
A few old shallow workings have been discovered in the veins, but due to deep weathering of the volcanic host rock, gold has been leached from the veins.
Results from this hole include seven meters grading 1.92 g/t gold at 52 meters, including one meter grading 2.97 g/t gold at 54 meters and one meter grading 3.27 g/t gold. gold at 57 yards.
Follow-up drilling is planned to target mineralized quartz veins that remain open at depth and laterally.
“The discovery of the Hoffman North prospect continues to strengthen our portfolio of
potential targets in our buildings,” said President Peretz Schapiro.
“The drill results for this new zone illustrate the potential to generate new prospects with significant gold mineralization at Monger North.
“This first RC drill hole at Hoffmann’s northern prospect requires more drilling to test quartz vein gold in fresh rock where depletion has not occurred.”
Shares of Monger Gold ended the day 11.4% in the green to trade at 24.5 cents.