High-grade expansion at Mount Ida

Monarch Gold Mining Company says a production ramp up at its high-grade Mount...

  Monarch Gold Mining Company says a production ramp up at its high-grade Mount Ida underground gold mining project is nearing completion, with the mine expected to deliver 4,000 tonnes of ore in April at a delivered grade of 14 g/t Au.Monarch Chairman Michael Kiernan said Mt Ida, located north of Kalgoorlie, is now ramping up on schedule and is poised to hit its straps. “Planned production at Mount Ida is expected to reach a steady state of 4,000 ounces per month by July, at an average grade of 19.42 g/t and will be a key contributor to Monarch’s 60,000 ounce target by the first half of FY 2008/09,” Mr Kiernan said. Monarch is developing 12 headings on ore, which will allow for the expansion of stoping operations and increase in mine output in coming months. Stoping is expected to commence this month as Monarch has received approval from the Department of Consumer and Employment Protection for its Mt Ida Project Management Plan, which was required prior to the commencement of stoping. The Mt Ida Project includes 111,000 ounces of resources within four areas—the Baldock, Whinnen, Meteor and Timoni deposits. Monarch has recently undertaken an initial small drilling program to the south of the Baldock lode, down plunge, which has confirmed the continuation of the high-grade mineralised system for at least a further 100m. Intercepts included 3.67m @ 14.9 g/t Au and 1.07m @ 14.80 g/t Au.