For Immediate Release
Exploration Office Unit 2, 81 Harrison Road Dudley Park
SA 5008
ABN: 96 110 336 733
Tel: +61 8 8245 4900
Fax: +61 8 8245 4999
www.monaxmining.com.au
For Immediate Release
Wednesday 25 March, 2015
ASX RELEASE
Millers Creek Drilling Commenced
HIGHLIGHTS
• Maiden drilling program commenced at Millers Creek Designated Project
Monax Mining Limited ("Monax") (ASX:MOX) announced today that drilling commenced on the Millers Creek Designated Project (DP) located within the Woomera Prohibited Area (WPA) in northern South Australia (Figure 1).
The Millers Creek DP is a joint project between Monax and its strategic alliance partner, a wholly-owned subsidiary of major Chilean copper producer Antofagasta plc ("Antofagasta"), via Monax's own wholly-owned subsidiary, Monax Alliance Pty Ltd ("Alliance").
The Millers Creek DP comprises one Alliance tenement together with four ASX-listed Maximus Resources Limited ("Maximus") tenements totalling 2402km2 (Figure 1). Monax recently announced the signing of a Farm-In Agreement with Maximus (refer ASX Announcement 12
February, 2015).
Drilling will comprise one Diamond hole which will test the Oliffes Dam iron oxide copper-gold (IOCG) target (Figure 2) and should take approximately 4-5 weeks to complete. Monax will update the Market upon receipt of laboratory results.
Gary Ferris Managing Director, Monax Mining
Ph: (08) 8245 4900
Email: [email protected]
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr G M Ferris, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Ferris is employed full time by the Company as Managing Director and, has a minimum of five years relevant experience in the style of mineralisation and type of deposit under consideration and qualifies as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" Mr Ferris consents to the inclusion of the information in this report in the form and context in which it appears.
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Page 12
Figure 2. Background reduced to pole (RTP) magnetic image for Millers Creek DP, further processed with a high pass filter, highlighting shorter wavelength features. 2013 WPA gravity survey data merged with open file gravity data with old pre 1970 data deleted is shown as contours (5gu/0.5 Mgal contours). Red boxes represent areas of interest and additional gravity surveys.
Plate 1. Drill rig on site at Oliffes Dam target.
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