Monument Gold Project
The Monument Gold Project comprises a 215km2 tenement package located ~55km west of Laverton in the world-class Laverton gold district of WA.
The Laverton Tectonic Zone has produced more than 30 million ounces of gold and yielded some of Australia’s best known gold mines, including Sunrise Dam (+10Moz), Wallaby (+8Moz), Granny Smith (+2Moz) and Lancefield (+2Moz).
The Monument Project lies immediately to the north-west of the 3.3Moz Mount Morgans Gold Project, currently being explored and developed by Dacian Gold Limited (ASX: DCN).
This area is a well-established mining district with excellent infrastructure and access including the sealed Leonora-to-Laverton road (which runs through the project), a new gas pipeline and sealed airstrips at Laverton and Leonora.
The Monument Gold Project tenements cover an approximate 25km strike length of the Ninnis and Claypan Fault Zones, the two significant regional geological structures which control gold and nickel mineralisation identified further south particularly at the Mount Morgans Gold Project.
The last concerted phase of exploration on the Monument tenements was undertaken by Carpentaria Exploration and Western Mining Corporation in the late 1980s and early 1990s. Carpentaria Exploration drilled the Waihi and Korong prospects, both of which contain near surface historical gold workings, some dating back to the last century.
The Korong mine produced some 2,875t of ore at an average grade of 35.6g/t Au while the Waihi mine produced 424 tonnes of ore at an average grade of 67.9g/t Au. Most of these workings were abandoned by 1910.
A total of 142 historical drill holes have been recorded on the tenements, most of which were drilled under and immediately along strike of the historical workings at the Waihi and Korong prospects. Drilling rarely penetrated the oxidized zone which in the area ranges from 20m to 80m. The last recorded drill hole was completed in 2003.
Exploration on the adjoining tenements by Dacian has highlighted the importance of the confluence of the Ninnis Fault Zones with the BIF/Ultramafic unit, which hosts the Westralia and Morgans North deposits, in localizing high-grade gold mineralisation. The Korong and Waihi mineralisation further north displays similar quartz veining and sulphide alteration at contacts between the BIF/porphyry and ultramafic unit as seen at Westralia.
Syndicated believes this horizon is highly prospective for gold discoveries, and intends to concentrate initially on the main 16km long Korong-Waihi trend as a focus for near-term exploration activities.
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