Monger Gold delivers maiden gold resource estimate for Providence
Monger Gold 透露了Providence矿床的首个黄金资源，为 204,700 吨，黄金 2.5 克/吨，黄金 16,400 盎司。
Australian explorer Monger Gold (ASX: MMG) has announced a maiden resource estimate for the Providence gold deposit that lies within its Monger North project in Western Australia.
In accordance with JORC (2012) reporting guidelines, the deposit has been estimated to hold 204,700 tonnes grading at 2.5 grams per tonne of gold for 16,400 ounces of gold.
The resource at Providence is located within typical open pit extractable depths and occurs over a relatively short strike length of around 200 metres, Monger reported.
Importantly, Monger chairman Peretz Shapiro said there is scope to grow the resource through additional drilling and exploration since the mineralisation remains open at depth and along strike, with 500m of untested strike to the southwest.
“We look forward to the results from our electromagnetic (EM) survey, which we expect to receive in the coming weeks, which is aimed at uncovering new conductor drill targets within the sulphide associated with high-grade gold at depth.”
“The maiden resource illustrates that Monger Gold’s decision to drill deeper below historic lower-grade oxide/transitional drill intercepts have paid off, with average resource gold grades 35% higher in fresh rock,” he added.
Located close to Silver Lake’s open pits
Sitting in a prolific gold district southeast of Kalgoorlie, Mr Shapiro said the Providence deposit displays similar characteristics to Silver Lake’s (ASX: SLR) recently mined open pits, Wombola Dam (76,000oz) and Wombola Pit (30,000oz).
It is also only a few kilometres from Silver Lake’s flagship Daisy Milano complex.
The maiden resource estimate at Providence incorporates historical drill results (completed by Silver Lake in 2011) with Monger’s exploration drilling, which totalled 20 reverse circulation holes for 2,016m and three diamond holes for 247m.
Copper potential at Providence
In May, Monger also confirmed significant copper results associated with high-grade gold drilling at Providence. This followed copper being identified in association with gold in a series of rock chip samples collected in late 2021 from the Wombola and Providence prospects.
At the time, Mr Shapiro said he was “pleasantly surprised” because the adjacent Silver Lake operation does not contain this level of copper with gold.
“This early-stage discovery at Providence dovetails nicely with our foray into battery metals used in electric vehicles the increasing the demand for copper and lithium,” he said.