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Syndicated Metals starts initial exploration at Monument gold project

Syndicated Metals Ltd. said Oct. 5 that it started its initial exploration program at the early-stage Monument gold project in Western Australia, which it recently acquired through the purchase of a 100% interest in owner Monument Exploration Pty. Ltd.

A geophysical induced polarization survey is underway to better define targets on the project's lower banded iron formation horizon, which is known to host gold mineralization nearby.

Drilling is expected to start at the Korong prospect within a week. The program will include infill and step-out drilling, as well as the extension of previously drilled holes that were stopped in mineralization. The campaign will total 3,500 meters comprising 17 holes — 12 diamond drill holes with reverse circulation pre-collars and five reverse circulation drill holes.

Drilling will initially target the Korong banded iron formation, which has been the main focus of historical drilling at Monument, while deeper diamond drilling will test a second high-priority target located in the footwall of the Korong banded iron formation.

Syndicated Metals also said all of the regional data sets for the project are being compiled and used as a basis for targeting, while the grant of the exploration license is still being finalized.