The Project is located 40km west of Laverton, within the Laverton Domain being approximately 750km northeast of Perth in Western Australia. The Laverton Domain is known to contain over 30 Moz of gold and is host to multiple significant gold deposits such as Granny Smith, Sunrise Dam, Wallaby & Mt Morgans.
Syndicated Metals has consolidated a large ground position in excess of 390km2, with tenements centred on extensive chert/BIF horizons which have been the focus of much of the gold exploration at the project. To the SE, this greenstone sequence hosts the Dacian Gold owned Mt Morgan’s gold deposit. Dacian Gold completed its first full-year of production in FY2019, producing 138,911 ounces of gold from open pit and underground operations.
The Project lies in the overturned western limb of the Mt. Margaret anticline which plunges moderately to the south and has a north-north west trending fold axis. Rock types are dominated by mafic volcanics, mafic intrusives, minor ultramafics and metasediments, and a narrow band (<100m wide) of a regionally continuous banded iron formation (BIF). These primary rock types have been intruded by concordant and discordant felsic porphyry dykes and sills as well as local thin lamprophyre dykes. All rocks have undergone regional greenschist facies metamorphism.
The Mt Korong sequence consists of a multiple, relatively thin (1-3m) silicified sediments/BIF’s hosted within a sheared ultramafic-metasediment package. This unit is bound to the west by coarse grained mafic intrusive rocks and the east by series of mafic dominated lithologies including pillow basalts. The package dips to the east and faces westwards. BIF units within the Project bounds contain the bulk of the mineralisation delineated to date, which is localised in shears and is association with chalcopyrite and pyrite.
The bulk of the activity at the Monument Project has been focussed on the Korong Prospect, where a JORC compliant Inferred Mineral Resource was calculated consisting of 50,000 ounces @ 1.8ppm Au. The Resource was calculated in September 2018 by Mining Plus Pty. Ltd.
Mineralisation at the Korong deposit has been identified over a strike length of 800m and occurs in tight, steeply plunging high grade lodes typically associated with the iron rich, sulphidic 3-5m thick, chert unit on the contact of a mafic and ultramafic. This mineralized unit strikes approximately NW, dipping to the NE with internal high-grade lodes plunging to the north. At a deposit scale, the mineralisation is typical of BIF hosted deposits where relatively high-grade, structurally controlled pods of mineralisation exist within a continuous envelope of narrow, moderate grade mineralisation.
Targeting within the broader Monument package has identified potential syenite intrusives similar to those that host the world class Wallaby deposit, located 40km to the south-east. The bulk of this interpretation is based on airborne magnetics data, where radial features have been identified that potentially represent a large alteration halo related to an intrusive. The features are mostly concealed below recent alluvial and colluvial cover sequences, with most of the surface geochemistry sampling completed being largely ineffectual.
Figure 3: Monument Project location relative to the Edjudina and Newington Projects.