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    MMG   AU0000147530

MONGER GOLD LTD

(MMG)
Delayed Australian Stock Exchange  -  01:57 2022-07-05 am EDT
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Monger Gold Ltd Copper & Zinc found in Rock Chip Samples at Mt Monger South

05/22/2022 | 05:59pm EDT

Copper & Zinc found in Rock Chip Samples at Mt Monger South

Perth, Australia (ABN Newswire) - Monger Gold Limited (ASX:MMG) is pleased to announce assay results from follow-up rock-chip sampling on tenements P26/4106 and P26/4106 (fig. 1, table 2*), located within the 17.7km2 Mt Monger South Project.

Highlights:

- Rock-chip sample assay results from the Ben Nevis Prospect at Mt Monger South include:

o Copper assays to a maximum 1,086ppm
o Zinc assays to a maximum of 3,742ppm

- A total of 23 anomalous rock chip samples have extended the surface anomaly to 150m long with one anomalous sample located a further 180m west

- The anomaly is now over 230m strike within a broader prospective zone of 5km of continuous strike, with an increase in zinc found towards the west

- This previously under explored area is being interpreted as a potential zone of copper and zinc VMS style mineralisation

- Geochemical sampling program across all tenements is currently underway and is scheduled to be completed in Q2 2022 with samples to utilise CSIRO Ultrafine+ fraction soil technique

- A FLEM geophysics survey is scheduled across the anomaly in June 2022

This campaign was designed to follow up MMG's 2022 rock chip sampling with anomalous rock chip samples from a gossanous sediment adjacent to a basalt (ASX Release 17 March 2022 - "Copper & Zinc found in Rock Chip Samples at Mt Monger South"). Twenty-four additional samples were taken from the same stratigraphic horizon west along strike, extending the anomaly to over 150m with one additional anomalous sample a further 180 west (fig. 1; table 1*). The samples were found to be higher in zinc compare to the eastern samples with 8 samples above 0.1% zinc.

Monger Gold's Non-Executive Chairman, Peretz Schapiro commented, "These rock chip assay results announced today are a testament to us following through on a methodical and systematic exploration approach. These results have justified our plan for a new EM geophysics survey to be completed in June.

MMG is planning a geochemical soil sampling program in June 2022 and a second stage geological mapping program, focusing on building a structural geological model (specialist structural geologists at Model Earth Pty Ltd) in July. Samples from the geochemical program will utilise the Ultrafine+ fraction soil. A FLEM geophysics program is planned for July (fig 2*).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/K0M9M3XV



About Monger Gold Ltd:

With an enterprise value AUD $1m and AUD $5m in funding, Monger Gold Limited's (ASX:MMG) intention is to generate value for shareholders by directing funds raised by the Offer into targeted and systematic exploration of our Projects, resulting in the definition of one or more JORC compliant gold and nickel resources.



Source:
Monger Gold Ltd



Contact:

Peretz Schapiro
Non-Executive Chairman
info@mongergold.com.au
 

© ABN Newswire 2022
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Sales 2021 - - -
Net income 2021 -1,09 M -0,74 M -0,74 M
Net cash 2021 3,64 M 2,49 M 2,49 M
P/E ratio 2021 -2,71x
Yield 2021 -
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EV / Sales 2021 -
Nbr of Employees -
Free-Float 87,9%
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Michael Melamed Chief Financial Officer
Peretz Schapiro Non-Executive Chairman
Andrew Comas COO, Operations Manager & Lead Geologist
Andrew Graham Independent Non-Executive Director
Yehoshua Gestetner Independent Director
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