Morning trading November 4, page-210

Monger Gold’s (ASX:MMG) shares close green following “encouraging” results from Mt Monger

Mining

ASX:MMG MCAP $7.84M

Madeleine Quy [email protected]


Source: Monger Gold

• Monger Gold (MMG) wraps up infill drilling at the Providence prospect and awaits results from previous auger vacuum drilling at the Wombola prospect in WA
• So far, Wombola has returned grades up to one metre at 6.8 grams of gold per tonne
• Rock chip sampling over both prospects has returned “encouraging” intercepts, including 21.83 g/t gold and 1.7 g/t silver
• The company is collating all results ahead of their release in around 10 days

Monger Gold (MMG) has wrapped up an reverse circulation (RC) infill drilling program at its Providence prospect within the Mt Monger North project in Western Australia.

In a statement today, the company said it had received analytical results from the laboratory, which it was collating ahead of release within the next 10 days.

Monger also received analytical results from an auger vacuum drilling campaign conducted by fellow ASX-lister Torian Resources (TNR) at the project’s Wombola prospect before Torian transferred the tenements to Monger.

The best intercepts from Wombola included one metre at 6.8 grams per tonne (g/t) of gold from roughly 40 metres.

The vacuum drilling samples were taken from the end of each hole, with drilling depths of between two and 50 metres determined by the drilling rod’s refusal to penetrate the ground further.

Meanwhile, rock chip sampling over both Providence and Wombola returned “encouraging” gold, silver and copper results, including as 21.83 g/t gold and 1.7 g/t silver.

Notably, another sample returned 7.32 g/t gold, 11.62 g/t silver and 0.75 g/t copper.

Monger Gold’s non-executive chairman Peretz Schapiro said the company was pleased to have finished the program.

“The analytical results from the vacuum drilling and the extensive rock chip sampling programs at the Providence prospect are an encouraging indication of what may be uncovered by the RC drilling campaign,” he said.

Mr Schapiro said the activities further reinforced the company’s strategy to prioritise the Providence prospect while it fully investigated the Mt Monger tenements.

The company has begun receiving RC results from the lab with the full set to be received, collated and released within the next two weeks.