ELs 3911 & 4000 (in joint venture with Marmota Energy Limited)

The Melton copper-gold project comprises two tenements, totalling an area of 165km², and is located on the northern extension of the Pine Point Fault Belt on the northern Yorke Peninsula.  Monax has a 50:50 joint venture arrangement with Marmota Energy Limited (ASX:MEU) for the exploration of all minerals on this project. 

Preliminary aeromagnetic data defined up to five high priority drill targets, and ground-based exploration, including ground magnetic and gravity surveys, was completed in January 2010. 

A maiden ten-hole diamond drilling program is currently underway, testing three major discrete gravity-magnetic targets.  Drilling will first test the 'Miranda' target, which has displayed the strongest gravity anomaly directly associated with its magnetic anomaly.

Melton project location

Drilling target areas