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Monto Minerals starts drilling tin targets at Mt Ormonde


Monto Minerals (ASX:MOO) has started drilling at high priority tin targets, at Mt Ormonde prospect at its wholly owned Herberton tin project in Northern Queensland, where recent rock chip sampling has returned high grade tin values to 5.99%.

It plans 19 reverse circulation, 1 diamond drill hole for a total of about 2,200 metres over five prospects, with the main focus on Mt Ormonde.

The Mt Ormonde area comprises numerous historic workings over an area of 1,200 metre by 1,200 metre including the Mt Ormonde, Talisman and Zig Zag mines that were explored by Great Northern Mining Company between 1983 to 1985.

The high density of workings with grades generally above 1% tin and over economic widths of greater than 2 metres has helped Monto identify the Mt Ormonde prospect's potential.

Recent rock chip sampling returned high grade tin values from quartz-tourmaline veins and haematitic shears with values to 5.99% tin.

Based on the sampling results, the drill program has been expanded and will start at Mt Ormonde with 8 reverse circulation holes to 100 metres targeting high grade tin structures and a single 200 metre RC hole targeting the magnetic bullseye.

An RC drilling at the Phoenix prospect will also test any down plunge extension of the mineralised body that was previously mined there.

The drilling results are expected over the coming weeks.

Monto had a cash balance of $2.29 million at the end of the March 2013 quarter.

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