Monument has identified significant regional exploration upside at the Burnakura project through identification of several prospective untested shear structures. These untested structures are in a similar geological setting to the already established mineralisation trends, and therefore present good potential to host a new discovery. The Burnakura mineral field is a highly fertile gold district with no significant greenfields exploration drilling in the last 20 years.
The Burnakura project tenements have on average only been drilled down to 100 metres and all deposits are open at depth.
Deep Drilling Program
Geological study work completed at NOA7_8 highlighted that the deposit is open at depth and plunging to the north. A deep drilling program at the NOA7_8 deposit has been planned, aiming to test the underground potential to 500m in order to increase the life of mine.
The Gabanintha property has a historical resource of 153koz, and is within trucking distance to the Burnakura plant. A detailed review of the resources is ongoing and work is being undertaken to convert the historical resources to current resources.
A verification drill program was completed at Tuckanarra which confirmed the historical drilling is of good quality and can be used to complete a re-estimate of resources to NI43-101 standards. The Company has reviewed the historical Resource models, studied potential mineralization extensions, and updated the internal resource model for the Cable Deposit. The study highlighted that there is potential for resource extensions beneath all pits on the Tuckanarra property. In addition, several shallow historical underground workings were identified as targets for further drill testing.