Mt Magnet The Mt Magnet Gold Operations are located 600km north east of Perth, Western Australia and include the Hill 50, Great Fingal and Star Mines which have all produced in excess of 1 million ounces each.
The province is one of the largest and most prospective advanced exploration packages in Australia, located in a region with a world class history of major projects and is complemented with significant operational infrastructure allowing for fast track development.
The project comprises a resource inventory of 26Mt @ 3.2g/t for 2.7 million ounces of gold, tenements covering approximately 1,100km2 and a 2.7Mtpa CIP treatment plant.
The area has good infrastructure with access via a main highway from Perth or via a sealed airstrip at Mount Magnet. Electricity is generated from gas power from the Dampier to Bunbury pipeline.
Gold was first discovered in the region in 1888 and over 13 million ounces of gold have been produced since that time from surface and underground sources in the Murchison Province. This endowment is similar to a number of major mining areas in the eastern goldfields, including St Ives, Wiluna, Leonora and the Agnew Lawlers district.
Unlike the eastern goldfields, the Murhison Province is significantly underexplored and vast areas under cover remain for exploration with the potential for plus 1 million ounce discoveries.
Monarch Gold will take possession during the first quarter 2008 on a care and maintenance basis
MON Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
