Quarterly Activities/Appendix 5B Cash Flow Report
Perth, April 20, 2022 AEST (ABN Newswire) - Monger Gold Ltd (
ASX:MMG) is pleased to provide the Quarterly Activity Report and attached Appendix 5B for the three-month period ended 31 March 2022.
HIGHLIGHTS
o RC Drill program 14 holes for 1614m completed at Providence Prospect, Mt Monger North with best results of 10m @ 2.69g/t and 3m @ 11.19g/t.
o Diamond Drill program 3 holes for 247.4m NQ2 core produced at the Providence Prospect: core is being processed and assayed with results next quarter. A total of 63 samples have been identified to be half-core cut and assayed to date
o RC Drilling completed at three other Mt Monger North prospects, with 3 holes for 290m at Andromeda, Hoffmann Nth and Prophecy. Significant assay result of 7m at 1.92 g/t Au returned from new area that tested vacuum drilling at the Hoffmann North Prospect
o Geological mapping at Mt Monger South Project found high-grade gold in rock chips at Three Emus Prospect (80g/t) and Copper-Zinc Gossan at Ben Nevis Prospect. A bulk sample is proposed from an exposed vein at the Three Emus Deposit and followup work is planned at the Ben Nevis Prospect in the next quarter
o Additional Ben Nevis Prospect rock-chip samples taken and assayed along a strike of 50 metres with up to 3,870ppm Copper, 2,623ppm Zinc. More detailed surface mapping undertaken with 23 new rock chip samples acquired and submitted for assay from a westerly strike extension
o Awarding a planned EM Geophysics survey, to test for sulphides including copper/zinc at the Ben Nevis Prospect and strike extensions
o Surface soils Ultrafine+(TM) CSIRO sampling program has been awarded to a contractor.
Planned start is early next quarter on all projects including Gibraltar, Monger North and South, with 1555 unique samples sites planned (1653 total sample assays including duplicates and certified reference standards). This program will test for multiple elements including gold and base metal
This has been an active quarter operationally for the Company with the focus on RC and diamond drilling at the Providence Gold Prospect (fig. 2*), which is now complete and currently being processed and evaluated. Significant gold grades in RC drilling were identified at Hoffmann North Prospect, Mt Monger North. Surface mapping outlined 50m strike of a copper-zinc gossan anomaly at Ben Nevis Prospect, Monger South with a further 23 samples taken, assays awaited. Geophysics EM and geochemical CSIRO UFF+ soils programs designed, starting early next quarter.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/66081R5O
About Loyal Lithium Limited
Loyal Lithium Limited (ASX:LLI) is a well-structured listed resource exploration company with projects in Tier 1 North American mining jurisdictions in the James Bay Lithium District in Quebec, Canada and Nevada, USA. Through the systematic exploration of its projects, the Company aims to delineate JORC compliant resources, creating value for its shareholders.
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