Sign up Australia
Proactive Investors - Run By Investors For Investors

Monax Mining finds rock chip sample of 143 g/t gold at Northern Territory project

Monax Mining finds rock chip sample of 143 g/t gold at Northern Territory project

Monax Mining Ltd (ASX:MOX) has collected rock chip samples of 143 g/t and 53 g/t gold from at the underexplored areas south of the Star of the North mining leases at the Mt Ringwood project area in the Northern Territoy.

The Mt Ringwood project area lies within the Pine Creek area of the Northern Territory, which is renowned for hosting shallow, high-grade gold mineralisation. Mining in the area has taken place almost continuously since the 1870s gold rush there.

A total of 8 samples reported more than 1 g/t gold. The results highlight new areas which require follow-up drilling.

To date, Monax has recorded a significant breadth of high-grade rock chip samples within the project area and remains confident of a high-grade gold deposit discovery.

The areas covered in the sampling program will not be subject to the upcoming drilling program which will focus on the Great Northern, Great Western and Star of the North mining leases.

Monax is currently awaiting statutory approvals for the proposed drilling program and expects to commence drilling in early May 2016.

Earlier in April, Monax pegged an application for a tenement in northern Queensland which could be prospective for lithium. The application area contains pegmatites and historical tin prospects and is located west-southwest of Mount Garnet.

The company’s shares have delivered good returns in 2016, increasing by 60% since the beginning of this year.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

View full MOX profile View Profile

Monax Mining Ltd Timeline

Related Articles

July 18 2018
Tsodilo Resources is currently evaluating a diamond project situated right in the heart of one of the world's most prolific diamond-producing areas
September 04 2018
Regency’s partner LHC (Legacy Hill Coal) is the operator of MET and has a 53% stake, with the UK business owning the rest
copper ore
April 10 2018
The AIM-listed junior now sees at least 20 years of operations at the Newfoundland-based copper/gold operation

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use