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Syndicated to fast‐track drilling of significant new gold target at Monument Project, WA

Syndicated to fast‐track drilling of significant new gold target at Monument Project, WA
  • Induced Polarisation (IP) geophysical survey at Syndicated Metals’ 100%‐owned Monument Gold Project in WA identifies a high‐priority exploration target 1.2km north of the recently drilled Korong Prospect.
  • Modelling and interpretation by respected geophysical consultants Terra Resources Pty Ltd and Southern Geoscience Consultants reveals a well‐defined, shallow, discrete IP chargeability anomaly (+20mV/V).
  • The new chargeability anomaly is much stronger than the IP/resistivity response associated with the Korong Prospect itself, where drilling last year returned encouraging intercepts such as 6m at 7.28g/t Au from 79m in MRC003.
  • Because of its strength and definition, the A1 North target has been rated by both Southern Geoscience and Terra Resources as a high‐quality, high‐priority target, recommended for immediate drilling.
  • 6‐10 hole Reverse Circulation (RC) drilling program planned to begin later this month.
  • The tenement covering the A1 North prospect has been recently granted, and drilling approvals are currently underway.
  • The IP survey has revealed other lower‐order anomalies away from the main mineralised
  • Korong‐Waihi Corridor. These require investigation once final processing and interpretation of the data has been completed.

Syndicated Metals Limited (ASX: SMD – Syndicated or the Company) is pleased to advise that modelling and interpretation of the IP geophysical survey completed late last year at its 100%‐ owned Monument Gold Project in WA has revealed a new high‐priority gold target which it plans to drill test later this month.

Syndicated engaged respected Perth‐based geophysical consultants, Southern Geoscience Consultants, to review, evaluate and interpret the data from the IP survey, which comprised 47 line kilometres over 200 and 400 metre spaced sections. Southern Geoscience concluded that the survey data was good quality and that the survey had effectively tested the prospective stratigraphy at the Korong to A1 North area to a depth of ~300m. QC, data editing and 3D inversion modelling completed by Terra Resources was used to represent the data.

The known gold (and associated pyrite) mineralisation at the Korong prospect, which was targeted by Syndicated last year in its maiden drilling program (see ASX Announcements, 28 November and 9 December 2016) shows a weak IP and resistivity response which is well correlated with the strength and position of the mineralisation encountered in the drilling.

Read the full announcement from SMD here