Monax Mining
Adelaide, Sep 7, 2006 AEST (ABN Newswire) - Monax Mining Limited (ASX: MOX) has appointed a base metals expert to its management team as the Company prepares to accelerate exploration work on its promising Bonaventura lead-zinc project on Kangaroo Island, off the Adelaide coastline.
The Company announced today that Dr Justin Gum had been appointed as Senior Exploration Geologist to build on highly encouraging drilling results at Bonaventura, 10 kilometres north of Parndarna, and which showed the mineralisation to be open laterally and at depth.
Dr Gum, who will assume responsibility for Bonaventura, has extensive experience in geological mapping and geochemistry and has a high level understanding of the Kanmantoo Group rocks sequence, in which Terramin Australia Limited's proposed Angas zinc mine on the nearby mainland at Strathalbyn, occurs.
Monax's Managing Director, Mr Michael Schwarz, said: "Dr Gum is the ideal person to now take our Kangaroo Island project to the next level and we see his appointment as a coup at a time of exceptionally high demand in the resources sector for such prominent personnel.
"While the rock sequence on the Island is the same as around the emerging Angas mine, our mineralisation is different and Dr Gum's expertise puts Monax in a much better position to now assess and test the project's mineral potential."
Results of recent aeromagnetic data collection programs over the Kangaroo Island acreage, are expected shortly to aid in designing the next Bonaventura drill program. Dr Gum's experience in working in Canada for Inco, the world's largest nickel miner, will also be employed to contribute to Monax's exploration for nickel on SA's southern Eyre Peninsula.
The Company has extensive tenement holdings in the area with potential for Archaean greenstone nickel and gold, similar to the Eastern Goldfields of Western Australia. As well as this, the geology of the eastern part of these tenements is similar to the base metal-rich Canadian Abitibi Belt.
An aeromagnetic data collection program has commenced on the Company's Moorlands-Mt Hope-Brimpton Lake on southern Eyre Peninsula.
Contact
Peter Gill
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: 08 8234 9555
Fax: 08 8234 9566
Mb: 0417 784 059
peter@fieldpr.com.au
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