PERTH (miningweekly.com) - ASX-listed Syndicated Metals has reported a maiden Joint Ore Reserves Committee-compliant resource of 855 000 t, at 1.8 g/t gold for 50 000 oz of contained gold at the Korong deposit, at its Monument gold project, in Western Australia.
The company on Monday said that the initial inferred mineral resource crystallised the company’s exploration efforts at Monument to date, establishing an initial resource base within the heart of the Laverton district.
“The definition of a maiden mineral resource at Korong represents another important step towards unlocking the value of the Monument project,” said Syndicated MD David Morgan.
“We have now identified several opportunities to extend the Korong mineralisation and potentially delineate new positions both down-plunge and along strike, and we plan to test these positions with our next drilling campaign.”
Morgan said that the broad potential of the project has also been further enhanced by the results from the Old Copper deposit, which extends the known mineralisation to in excess of 12 km of strike through the center of the project area.
“At this stage, the 12 km of strike is largely un-drill-tested in modern times and remains open both north and south, which we anticipate will continue to provide a pipeline of exploration targets and the potential to build a significant resource base at Monument.”