More gold for Monarch Lorna Seatter Tuesday, November 06, 2007 MONARCH Gold Mining's drilling program has been rewarded with more healthy gold hits from the Iguana deposit, part of the company's Davyhurst project near Kalgoorlie in Western Australia. As part of a resource expansion drilling program across several prospects, Monarch today reported high-grade intercepts including 6m at 48.51 grams per tonne gold from 33m, and 2m at 10.24gpt gold from 42m from Iguana. "The latest results bolster our earlier drilling success across the Davyhurst tenements, and keep us firmly on track toward our goal of becoming a 500,000 ounce per annum gold producer by 2009," Monarch chairman Michael Kiernan said. In early October, the company reported plans for a 50% ramp up of its Davyhurst mill production from 6500oz per month to 10,000oz by January 2008. Monarch claims it has the "largest Australian-controlled ground position in the Kalgoorlie region," with an estimated resource base of 2.3 million ounces of contained gold. The company is also exploring at its recently acquired Riverina project, Mount Ida, Minjar and Bellevue.
January is not more so far!!!!!!!!!!!!!!!!11
MON Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
