monax hits significant find, page-4

How many more times are we going to have some one say "its along way down".
Have you heard of Roxby Downs....you know the really big mine down the road from Punt Hill....it is an underground mine, about to be made open cut. I here that Roxby is quite profitable!

Here is some of the anouncement:

SIGNIFICANT LOW GRADE ZINC INTERSECTION IN SECOND ALTERATION SYSTEM AT
PUNT HILL IN S.A.


Highlights

• Highly encouraging results representing significant indicator to a large IOCG system

• Extensive zone of anomalous zinc identified (158.2m @ 0.32% Zn including individual
metre assays of up to 4% Zn)

• Evidence for higher grade copper mineralisation with 1m @ 7.58% Cu, 144 g/t Ag
and 0.3 g/t Au

• Mineralisation occurs in second separate alteration system from Groundhog

• Infill gravity survey completed on five additional target areas

Prairie Dog Prospect

Monax Mining Limited (ASX code “MOX”) has received the analyses for the second drill hole
(PDDD2, 739236 mE, 6508108 mN, MGA94) into the Prairie Dog Prospect at its 100% owned Punt
Hill project 130 kilometres north of Port Augusta in South Australia.
PDDD2 (Fig. 1) was drilled 300m to the north-east of PDDD1 to test dense basement rocks
identified after remodeling of Prairie Dog’s detailed gravity data. Basement was intersected at
832.3m consisting of brecciated and hematite altered Gawler Range Volcanics to 860m. The hole
then passed into brecciated and highly altered sediments with abundant fluorite. Several veins of
bornite and steely hematite occur between 876 and 883m passing into intermittently disseminated
pyrite and chalcopyrite mineralisation to the end of hole at 1014.2m.
Significant results from PDDD2 are as follows;
158.2m @ 0.32% Zn (from 856m to 1014.2m (EOH))
? with individual metre assays up to 4% Zn
99m @ 0.24% Cu (from 876m to 975m)
? including 1m @ 7.58% Cu, 144 g/t Ag and 0.3 g/t Au (between 880m – 881m) at the
contact between the altered basement metasediments and overlying altered Gawler
Range Volcanics (an interpreted zone of focused hydrothermal fluid flow, observed
consistently in other drill holes into the Punt Hill alteration systems)
Monax considers the extensive zone of low grade zinc and copper mineralisation to be highly
encouraging. Base metals, including zinc, are common accessory elements to iron oxide copper
gold alteration systems. In some IOCG systems there is a zonation from copper-gold dominant
mineralisation in the centre to anomalous base metals such as zinc in the alteration halo.
Assays for the last drill hole at the Groundhog Prospect (GHDD4), immediately to the southwest of
Prairie Dog are due by mid November. GHDD4 was drilled approximately 200m to the south-east
of GHDD1 which intersected 126m @ 0.4% Cu.