For Immediate Release
Wednesday 15 April, 2015
ASX RELEASE
Millers Creek Drillhole Completed
HIGHLIGHTS
• Drilling of first diamond drillhole completed at Millers Creek Project
Monax Mining Limited (“Monax”) (ASX:MOX) announced today that drilling has been completed on the Millers Creek Designated Project (DP) located within the Woomera Prohibited Area (WPA) in northern South Australia.
The Millers Creek DP is a joint project between Monax and its strategic alliance partner, a wholly-owned subsidiary of major Chilean copper producer Antofagasta plc (“Antofagasta”), via Monax’s own wholly-owned subsidiary, Monax Alliance Pty Ltd (“Alliance”).
The Millers Creek DP comprises one Alliance tenement together with four ASX-listed Maximus Resources Limited (“Maximus”) tenements totalling 2402km2. Monax recently announced the signing of a Farm-In Agreement with Maximus (refer ASX Announcement 12 February, 2015).
Hole MCDD1501 was completed to 911.3m (see table below for drill hole details). Basement was intersected at 765.4m downhole. The core is currently being transported back to Adelaide for further review by Monax and Antofagasta. The downhole drill hole data (magnetic susceptibility and specific gravity) will be assessed prior to a decision on any further drilling on the project.
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Gary Ferris
Managing Director,
Monax Mining
MXR Price at posting:
0.3¢ Sentiment: None Disclosure: Held
