Monger Gold Limited (ASX:MMG)
Monger Gold Limited (ASX:MMG) is a gold and nickel exploration company. Monger Gold was spun out of Torian Resources (ASX:TNR) in order to hold and develop the Mt Monger North, Mt Monger South and Gibraltar South projects. Torian Resources has retained a minority holding in the Company.
Monger Gold's focus is primarily on the geological, geophysical and geochemical surveys required to define drill-ready targets and the subsequent drill testing of those targets, to generate one or more JORC compliant gold resources at the Projects.
The Projects comprise:
Mt Monger North
Mt Monger North comprises 16 tenements in three zones which, based on historical exploration, exhibit strong prospectivity for gold, nickel and base metals. The Company has identified key targets within these zones based on a review of the historical data, a reinterpretation of the geology and structure, and a delineation of the information gaps that have impeded discovery. Monger Gold believes that a systematic approach to filling in these information gaps will increase the likelihood of exploration success.
Mt Monger South
Mt Monger South comprises 13 tenements. Historical exploration has been relatively minor, but recent work has led to the conclusion that the area has significant prospectivity for gold and base metals. Monger Gold considers Mt Monger South to be highly prospective for gold and has determined that a detailed geophysics program will enable it to delineate areas to drill targets which it considers may have been missed in historical drill programs.
Gibraltar South comprises 8 granted tenements and one pending application with three prospects in the northern group of tenements and one in the southern group of tenements. Moderate historical exploration was conducted over the northern group of tenements with some favourable drilling results that warrant further investigation. The proximity of historical gold workings is also a major driver for detailed follow up.
Fresh insight into the geology and structure coupled with a consolidation and review of all the historical data has enabled Monger Gold to develop a use of funds program of works which will optimise target delineation at the Projects.