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Swan Gold Mining Limited

Publié le 04 septembre 2007

INTERSECTS HIGH GRADE GOLD

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MEDIA RELEASE                                                                         

 

4 SEPTEMBER 2007

 

 

MONARCH INTERSECTS HIGH GRADE GOLD

 

Monarch Gold Mining Company (ASX/DIXF: MON), the largest independent landholder in the Kalgoorlie region, has intersected high grade gold ore at its Mount Ida project, with the intersection of the promising Baldock lode.

 

“The intersection contains coarse free gold and is well mineralised. The ore width is double what had been expected, with the ore exposed in the drive varying from a minimum of 1.4 metres up to a potential maximum of about 3.4 metres,” Monarch Chairman Michael Kiernan said.

 

“With the intersection of the Baldock lode at Mount Ida means we are now into the high grade gold section and this will be treated at our Davyhurst mill later this month” Mr Kiernan said.

 

Monarch’s recently commenced an $11 million drilling programme for 2007/08 and has identified some promising early results, which will drive long term value for shareholders.

 

“We have a well-funded and aggressive exploration programme in regions where there are identified targets to expand our resource base, and this approach is being vindicated by promising results from the Davyhurst tenements,” he said.

 

At Davyhurst, exploration drilling has intersected high grade mineralisation at the Walhalla North and Iguana prospects, and has outlined a potential new gold discovery at the Coronation prospect.

 

Davyhurst highlights:

  • At Walhalla North, high grade gold intersected in RC drilling over 200m of strike and open at depth including 2m @ 58.3 g/t Au and 4m @ 20.5 g/t Au.
  • High grade gold intercepts in infill RC drilling at the Iguana prospect including 1m @ 50.3 g/t Au and 3m @ 78.0 g/t Au.
  • A new zone of mineralisation intersected in RAB drilling over 700m of strike, including 13m @ 2.0 g/t Au from 8 metres at the Coronation prospect, located only 4km NW of the Davyhurst mill.
  • At the Walhalla North prospect, approximately 1km north of the current Walhalla open pit mine and only 10km from the Davyhurst mill, significant high grade gold mineralisation has been intersected in a number of holes over 200m of strike and is open. Results are tabulated.

 

The developments mark another milestone of progression for Monarch, which in the past month has poured its first gold, added the Riverina Gold Project to its Goldfield tenement holdings, and appointed Matthew Gill as Managing Director.

 

 

For further information, please contact:

 

Michael Kiernan                                                         Warrick Hazeldine

Chairman - Monarch Gold                                         Purple Communications

Tel: +61 (0)8 9481 6422                                             Tel: +61 (0)8 9485 1254                       

Mob: 0417 944 616    

 

 

 


Walhalla North results

 

HOLE ID

EAST

NORTH

FROM

WIDTH

GRADE (g/t Au)

WARC174

273522

6663185

32

2

3.23

WARC175

273504

6663181

54

5

26.50

 

 

Including

55

2

58.25

WARC176

273489

6663154

29

3

3.63

 

 

 

86

4

20.53 (eoh)

 

 

Including

87

1

77.60

WARC177

273533

6663136

35

4

2.24

WARC178

273514

6663132

61

4

7.57

 

 

Including

59

1

27.10

 

 

 

 

 

 

WARC179

273519

6663008

36

2

12.89

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Iguana Results

 

Infill drilling to support the current resource model has intersected high grade gold zones which are currently being interpreted within the current model. Better results include:

  • Hole IGRC 003, 2m @ 10.2 g/t Au from 42m and 1m @ 50.3 g/t Au from 52m.
  • Hole IGRC 004, 6m @ 48.5 g/t Au from 33m including 3m @ 78.0 g/t Au.
  • Hole IGRC 008, 2m @ 14.1 g/t Au from 26m.

 

 

 

Background

 

The Company has a resource base of more than 2.4 million ounces, two state-of-the-art gold treatment plants, and has dominant ground positions in the prolific gold mining region to the north-west of Kalgoorlie. Monarch now has the largest Australian-controlled ground position in the Kalgoorlie region.

 

Bellevue Gold Mine near Leinster, together with the Siberia Mining Corporation Limited merger, provided access to Siberia 1.2 million ounce resource base.

 

Monarch remains firmly on track with its production targets, with mining commenced at the Davyhurst and Mt Ida projects with supporting infrastructure already in place. First gold has been poured at the refurbished Davyhurst Mill. Monarch’s production at Davyhurst has an average head grade of 5.3g/t Au.

 

Growth Strategy

Monarch’s growth strategy is focused on four potential production centres in Western Australia:

Davyhurst - gold resources of over 2m oz within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production).

Riverina Project - indicated and inferred gold resources totalling 1.64 million tonnes @ 3.8 g/t Au for 200,000oz.

Mt Ida - resources are stated as 143,000t at 24.0 g/t containing 110,650oz of gold within four areas - the Baldock, Whinnen, Meteor and Timoni deposits. Monarch will commence mining gold in July 2007.

Minjar - gold resources of over 400,000oz within a 1,722 sq km tenement package and 600,000tpa gold processing facility (+120,000oz historic production).

Bellevue - gold resources of 120,000oz associated with the historic Bellevue Gold Mine, one of WA’ premier gold operations (750,000oz historic production).

 

Monarch’s strategy has been to capture opportunities for the consolidation of gold development assets which have not in the past realised their full potential, either due to a lack of capital or to limited exploration.

 

Monarch is focussed on gold production, with a target to be producing 500,000oz per annum by December 2009.

 

For further information visit: www.monarchgold.com.au

 

So far as it relates to ore and mineralisation, this report is based on information compiled by John Davis, who is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientist. Mr Davis has sufficient experience which is relevant to the style of the mineralisation and type of deposit under consideration and to the activity which he is undertaking, to quality as a Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting for Exploration Results, Minerals Resources and Ore Reserves. Mr Davis is a full time employee of the Company. This report accurately reflects the information complied by Mr Davis. Mr Davis has consented to the inclusion of this information in the form and context in which is appears in this report.

 

 

 

Monarch Gold Mining Company

Projects

 

 

 

 

 

 

 

 

***

The new Spam Act commenced on 10 April 2004. This Act is aimed at reducing the amount of unauthorised emails you receive.  You have been receiving e-mails containing information and news releases from us on behalf of our clients because you are an important contact of Purple Communications, a boutique stakeholder communications consultancy.   If you do not wish to receive such emails from Purple, please click mailto: purple@purplecom.com.au subject=UNSUBSCRIBE or reply to this email and put UNSUBSCRIBE in the subject line and we will not email you again.

 If you do not reply, we will continue sending you relevant news and information via email. However, all future emails will allow you to unsubscribe.

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 

Swan Gold Mining Limited

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Swan Gold Mining est une société de production minière d'or basée en Australie.

Swan Gold Mining détient divers projets d'exploration en Australie.

Ses principaux projets en production sont LA CAMORRA MILL au Venezuela et MINJAR et MOUNT MAGNET en Australie et ses principaux projets en exploration sont BELLEVUE PROJECT, LONDONDERRY, YERILLA et REPUBLICAN en Australie.

Swan Gold Mining est cotée en Australie. Sa capitalisation boursière aujourd'hui est 27,1 millions AU$ (25,1 millions US$, 16,3 millions €).

La valeur de son action a atteint son plus bas niveau récent le 05 novembre 2009 à 0,29 AU$, et son plus haut niveau récent le 04 juillet 2014 à 2,95 AU$.

Swan Gold Mining possède 91 850 000 actions en circulation.

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Rapports annuels de Swan Gold Mining Limited
2007 Annual Report
2005 Annual Report
2003 Annual Report
Nominations de Swan Gold Mining Limited
14/08/2007APPOINTS MATTHEW GILL AS MANAGING DIRECTOR
Projets de Swan Gold Mining Limited
05/06/2008(Mount Magnet)(ASX:MON) Advancing at Mount Magnet
15/04/2008(Mount Ida)High Grade Expansion at Mount Ida
19/03/2008(Mount Magnet)MOVING FORWARD WITH MOUNT MAGNET
06/11/2007HITS MORE HIGH GRADE GOLD
04/09/2007INTERSECTS HIGH GRADE GOLD
07/08/2007(Davyhurst)POURS FIRST GOLD
17/04/2007(Davyhurst)$6 Million Exploration Program
Communiqués de Presse de Swan Gold Mining Limited
03/07/2009Creditors Accept Stirling Proposal
07/07/2008Advances with $30m Go Forward Funding
08/04/2008Sells Minjar Gold Project
04/02/2008finalizes Mt Magnet purchase agreement
15/01/2008RIVERINA READY TO ROLL - PROJECT UPDATE
16/11/2007ANNUAL GENERAL MEETING
08/11/2007 ACQUIRES HILL 50 GOLD
23/10/2007TARGETS RE-RATING THROUGH TSX LISTING
03/10/2007CAPITALISING ON GOLD GROWTH
07/08/2007LAUNCHES SIGNIFICANT EXPLORATION PROGRAM
06/08/2007CONTINUES EXPANSION
06/08/2007commits funds to Kalgoorlie community housing project
05/08/2007UPDATE: commits funds to Kalgoorlie community housing proje...
08/06/2007EXTENDS RICH MT IDA ACQUISITION
17/05/2007Gears Board for Production
14/05/2007Explores Listing on Dubai Exchang
11/05/2007Placement and entitlements Issue
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