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Monger Gold Ltd (MMG.AX) Soils Program to Begin at the Scotty Lithium Project, Nevada

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Monger Gold Ltd
Monger Gold Ltd

Monger Gold Ltd (MMG.AX) Soils Program to Begin at the Scotty Lithium Project, Nevada

Perth, Australia, June 20, 2022 - (ABN Newswire) - Monger Gold Ltd (ASX:MMG) is pleased to announce that an auger soil geochemistry program will commence in the coming days at its Scotty Lithium Project in Nevada, USA (Figure 1*).

Commenting on the Scotty Lithium Project soils program, MMG's Chairman, Mr Peretz Schapiro, said:

"We are pleased to commence a comprehensive soils program at the Scotty Lithium Project only weeks after completing this transformational acquisition.

Soil sampling was integral in the discovery and delineation of the neighbouring Bonnie Claire Lithium Deposit - one of the largest lithium resources in the USA; which our Scotty Lithium Project abuts and surrounds. Yet less than 3% of our project area has been covered with soil sampling previously. And this work returned even better results than those returned from Bonnie Claire.

We will use the results from this program to help target holes in our maiden drilling campaign which is scheduled to commence in the second half of this year.

We look forward to keeping the market updated on our exploration programs".

Soil Sampling Program

Soil geochemistry was used effectively in the discovery and delineation of Iconic Minerals Limited's (Iconic) adjoining Bonnie Claire Lithium Deposit, where Inferred Resources comprise 3.4Bt @ 1,013ppm Li for 18.3 Mt of Li2CO3 equivalent. Coherent anomalism >100ppm Li is typically present above the mineralisation delineated in drilling (see Figure 1 and Figure 2*).

Previously only 1.5km2 of the Scotty Lithium Project (representing just 2.6%) has been covered with soil sampling (see Figures 1 and 2*). The lithium content in everyone of these samples was highly anomalous, ranging from 140ppm to 300ppm, with an average assay of 233ppm lithium. So, with:

(i) this strong anomalism open to both the north and south within MMG's Scotty Project area; and

(ii) anomalies from Iconic's soil program also remaining "open" and extending into MMG's Scotty Project area

a fast, low-cost but very effective project-wide soil sampling program has been commissioned.

Approximately 550 samples will be collected during the imminent program on 400m-spaced centres (see Figure 3*) across various types of surface sediments (Figure 5*). All samples will be assayed for lithium together with a multi-element suite at ALS's laboratory in Reno, Nevada.

It is anticipated that sample collection will be completed by mid-July. Assays are expected 4 to 6 weeks later.

Anomalies evident in the soil geochemistry data will be targeted in the Company's maiden drilling program, which is scheduled to commence later this year.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/S3F6232T


About Monger Gold Ltd:


With an enterprise value AUD $1m and AUD $5m in funding, Monger Gold Limited's (ASX:MMG) intention is to generate value for shareholders by directing funds raised by the Offer into targeted and systematic exploration of our Projects, resulting in the definition of one or more JORC compliant gold and nickel resources.

Contact:

Peretz Schapiro
Non-Executive Chairman
info@mongergold.com.au

Source:
Monger Gold Ltd

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