Monax to go ahead with nickel exploration

The Western Gawler Craton project in South Australia will be able to move ahead after the signing of a Native Title Mining Agreement with the Far West Coast Aboriginal Corporation.

The agreement will allow commencement of on-ground exploration drilling in the June quarter 2015. as part of a farm-in agreement with Western Areas.

So far exploration has comprised aeromagnetic survey and historical exploration data and core.

Exploration drilling will be funded up to $100,000 by the Plan for Accelerating Exploration (PACE) government initiative.

The prominent magnetic and gravity ridges revealed by aerial survey in the Western Gawler Craton have been described as being potentially similar to the magmatic nickel-copper mineralisation found at the Nova-Bollinger Deposit discovered by Sirius Resources.

The drill program will also focus on finding mineralisation similar to the Tropicana gold deposit, which is located on the margin of the Albany Fraser Belt.

Monax have also benefited from additional PACE funding for two other projects; $70,000 for the Kimberlite (diamond) Project in northern South Australia, and the company will be eligible for a futher $75,000 for the Groundhog prospect at Punt Hill.

Monax Resources have nine projects in South Australia, targeting copper-gold, silver-lead-zinc, nickel-copper and diamonds, and one copper-gold project in Queensland.

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