Monax Mining drill program to focus on EM defined graphite targets

THE DRILL SERGEANT: Monax Mining (ASX: MOX) is kicking off a 70-hole drill program this week at the company’s 100 per cent-owned Waddikee graphite project on the Eyre Peninsula of South Australia.

The drilling will focus on four target areas Monax identified during a recent ground electromagnetic (EM) survey.

Monax recently completed ground EM surveys over the Wilclo South, Francis, Argent and Lacroma prospects in order to define conductive targets and allow for accurate positioning of drill holes.

 

Location of the Waddikee project, central Eyre Peninsula,
highlighting other graphite and iron projects within the region. Source:
Company announcement

 

“The ground EM survey provided confirmed the location and intensity of regional airborne EM conductors, using both moving loop and slingram techniques to provide detailed data to define the location and dip of the conductive units,” Monax Mining said in its ASX announcement.

“The data for the Wilclo South prospect has been modelled and shows a continuous conductive zone over a strike length of two kilometres, which remains open at both ends.

“Drilling at Wilclo South by Monax last year corresponds strongly with the modelled conductive units, providing confidence that the newly acquired EM data will greatly assist in locating drill holes.”

Monax indicated the upcoming drilling program will commence in an area of outcropping graphite, which previously assayed 22.9 per cent total graphitic carbon.

The ground EM survey also defined strong conductive anomalies at the Francis and Argent prospects.

“Field plots show good correlation with regional airborne EM data, providing greater resolution on the location and dip of these conductive features,” Monax explained.

“Data for these two areas is still being processed and these prospects will drill tested after Wilclo South.”

Monax said the majority of the drilling will be undertaken at the Wilclo South prospect with the objective of gathering sufficient information for the company to produce an inferred resource by mid-2013.