Monument Gold Project
The Monument Gold Project (MGP) is a highly prospective gold project covering 310km2 located in WA’s world-class Laverton Gold District.
The Laverton Gold District hosts numerous multi-million ounce gold mines operated by major gold mining companies including Goldfields’ 8Moz Granny Smith & Wallaby Mines and AngloGold Ashanti’s 9 Moz Sunrise Dam Mine. The area is a well-established mining district which hosts excellent infrastructure and access including the sealed Leonora-to-Laverton Road, which runs directly through the Project, a gas pipeline and a sealed airstrip at Laverton.
MGP contains significant gold mineralisation and ~30km of relatively untested gold-hosted Banded Iron Formation (BIF), which is interpreted to be the same unit that hosts the Westralia gold deposit (Dacian’s Mt Morgan Project), located immediately southeast of the Project.
Location map of MGP (in blue) adjacent to Dacian’s Mount Morgan Project (in yellow)
Previous drilling at MGP has returned significant gold mineralisation at a number of targets throughout the Project. The most advanced target is at the Korong Prospect, where an initial JORC (2012) compliant inferred mineral resource estimation (Korong Resource) of 0.86Mt at 1.8g/t Au for 50,000 oz Au was calculated by Mining Plus Pty Ltd.
The Korong Resource remains open along strike and down dip and displays repeating high-grade plunging shoots. Previous exploration has also revealed a number of highly prospective gold exploration targets within MGP along a 30km horizon, including seven targets located north and south of the Korong Resource. MGP is also highly prospective for shear-hosted, syenite intrusion-related mineralisation, with 15 felsic intrusives identified in a high-level targeting study that are yet to be thoroughly explored.
Long section of the Korong Resource with interpreted gold lodes (Image sourced from DCX ASX announcement 10 September 2018)
Laverton Tectonic Zone
MGP lies in the world class Laverton Tectonic Zone, which to date has produced more than 30 million ounces of gold and yielded some of Australia’s best-known gold mines. MGP is located in an overturned western limb of the Mt Margaret anticline, which plunges moderately to the south and has a north-north west trending fold axis. Rock types are dominated by mafic volcanics, mafic intrusives, minor ultramafics and metasediments, and a narrow band (<100m wide) of a regionally continuous BIF. These primary rock types have been intruded by concordant and discordant felsic porphyry dykes and sills as well as local thin lamprophyre dykes. All rocks have undergone regional greenschist facies metamorphism.