Monax announced today that it has secured a drilling rig for the eight hole program, the first drilling on Kangaroo Island since Havilah Resources NL encountered the zinc mineralisation three years ago.
"The drilling program has been designed to reveal more information about the mineralisation under this highly encouraging Bonaventura Prospect," Monax Managing Director, Mr Michael Schwarz, said.
"We will be testing both the depth of high grade zinc intersections and potential extensions of the mineralisation to the north-east and south-west as indicated by recent soil sampling," he said.
Monax acquired the Bonaventura Prospect before its 2005 listing on the Australian Stock Exchange. Havilah Resources discovered intersections of five metres at 26.9% zinc in a broader halo of 30 metres at 1.23% zinc.
At least eight deep reverse circulation drill holes will be drilled beneath and to the sides of the previously identified mineralisation over a 400 metre long zone of highly anomalous zinc and lead.
Previously drilling only reached a maximum depth of approximately 50 metres with mineralisation continuing to the end of hole. Monax plans to drill to at least 250 metres down hole for a total of 2200 metres of drilling.
The first drilling is expected to start on 30 May 2006.
The information in this report has been prepared by M P Schwarz, who is a member of the Australian Institute of Geoscientists and is adherent to the Institute's code and recommended practices. He has had a minimum of five years experience in the types of activities being reported.
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About Monax Mining Limited
Monax Mining Limited is an Australia-based company. The company’s principal activity is mineral exploration.
Monax Mining Limited