Drilling Program Completed At East Laverton REE, Nickel And Gold Targets

Mt Monger Resources Limited (ASX:MTM) (Mt Monger or the Company) has completed a substantial program of aircore (AC) and reverse circulation (RC) percussion drilling at its East Laverton project in the north eastern Goldfields of Western Australia. The work commenced earlier this year (see Mt Monger ASX announcement dated 20 January 2023) and has comprised approximately 8,600 metres of drilling.

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Highlights:

• Aircore and RC percussion drilling program undertaken at the East Laverton project
• Total of 235 holes for 8,595 metres drilling completed
• Further evaluation of known clay-hosted rare earth element (REE) mineralisation in the Pt Kidman prospect area
• First-pass drill test of nickel targets in the Pt Kidman and Seahorse prospect areas

Figure 1: Aircore drilling underway at the Pt Kidman Prospect in January 2023.

Commenting on the completion of the drilling program, Managing Director Lachlan Reynolds said:

“Our exploration team have done a terrific job managing this large drilling program without any significant safety incidents and in the heat of the summer season in the northern Goldfields.

The program involved testing of a number of different geological targets, including the known rare earth element mineralisation anomalies at the Pt Kidman prospect; a number of areas where possible nickel gossans had been identified by rock chip sampling; and some gold targets generated by surface sampling at the Seahorse prospect.

We look forward to updating shareholders once assay results become available and we anticipate that the holes will provide a significant increase in our understanding of mineralisation in the area, particularly the distribution and grade variation of the shallow, clay-hosted REE mineralisation at Pt Kidman.”

Figure 2: Location map of prospects at the East Laverton Project.

EAST LAVERTON PROJECT

The East Laverton project is centred about 70km south-east of the townsite of Laverton (Figure 2) and is comprised of twelve granted exploration licences and one pending exploration licence that collectively cover an area of approximately 3,500km². Due to extensive transported cover, the project area has had limited historical exploration.

The Company has been actively exploring the area and has identified an emerging district- scale REE mineralisation opportunity at Pt Kidman in the north of the project area (see Mt Monger ASX announcements dated 17 November 2022 and 17 January 2023) and both gold and base metals anomalies in the Seahorse prospect area (see Mt Monger ASX announcements dated 22 April 2022 and 28 November 2022).

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