|Interest||1.0% Net Smelter Royalty|
|Counterparty||Mt Monger Resources Ltd|
- A number of companies have explored the eastern part of the Mt Monger Gold Project area for gold and nickel since the mid 1980’s. The most focussed gold exploration of the Kiaki Soaks prospect including soil sampling and RAB, RC and diamond drilling resulted in the discovery and subsequent delineation of the gold mineralised structure.
- Exploration drilling has outlined a 2.5km long mineralised gold trend at the Kiaki Soaks prospect, along the Bare Hill Shear Zone. The mineralised zone is open to the north and lies along the sheared contact between Archaean basaltic mafic rocks in the west and sedimentary rocks to the east.
- An extensive RAB drilling program was completed to test two NNE-trending soil geochemical anomalies. The drilling intersected the contact between a fine-grained chloritic basalt to the west and a siltstone/mudstone rock assemblage to the east. A black carbonaceous unit was encountered along the contact in some drill holes. The results of this drilling identified the Kiaki Soaks lode gold deposit.
- Subsequent RC percussion drilling to test the down-dip projection of the mineralisation indicated that the mineralisation occurred in flat-lying discontinuous lenses dipping conformably to the east within a highly chloritised and carbonate altered mafic rock with minor pyrite, and that the mineralisation may be located along a splay structure off the regional BHSZ.
- Further RC percussion and diamond drilling returned a number of significant results, including 4m @ 4.2g/t Au from 32m and 36m @ 2.3g/t Au from 36m depth.
- Later drilling identified widespread gold mineralisation at the Kiaki Soaks prospect, confirming a lode gold deposit of approximately 3-6 meters true width by 350m strike length and largely open at depth. Significant results included 12m @ 1.8g/t Au from 24m, 6m @ 1.5g/t Au from 30m and 1m @ 4.2g/t Au from 27m.
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