Company Profile

Monax Mining Limited (Monax) is an ASX Listed Company (ASX: MOX) with a focus on copper-gold and manganese on the highly prospective Gawler Craton, South Australia and bauxite on the Cape York Peninsula, Queensland.

The Punt Hill iron oxide copper-gold (IOCG) project, comprising ELs 4642 and 4548, is located on the eastern margin of the Gawler Craton and is Monax’s flagship project. To date, Monax has completed 22 deep diamond holes on EL4642 (formerly EL3457) and has defined an extensive zone of IOCG style skarn mineralisation. The best intersection from the Groundhog prospect is 159m @ 0.47% Cu, 0.12 g/t Au and 5.3 g/t Ag from 846m (including 17m @ 1.1% Cu, 0.27 g/t Au, 8.5 g/t Ag and 1.2% Zn from 853m). In August 2010, Monax signed a joint venture agreement with Antofagasta PLC through its wholly-owned subsidiary Antofagasta Minerals S.A., for exploration on this project.  A diamond drilling program testing new targets is planned for late 2011.

Monax has a 50:50 joint venture with Marmota Energy Limited (ASX:MEU) over the Melton project, located on northern Yorke Peninsula. Melton is located on the northern extension of the Pine Point Fault Belt, which hosts the Hillside discovery. An aeromagnetic survey and ground gravity survey defined up to five anomalies and drilling at the Miranda Anomaly reported 21m @ 0.11% Cu from 451m.

Monax is exploring for manganese and iron on its Waddikee project, located on central Eyre Peninsula, South Australia. An RC drilling program was conducted during mid 2008, for manganese. Eight traverses were drilled at the Jamieson Tank Prospect, with all traverses intersecting manganese mineralisation at depth, underlying the surface mineralisation mapped in previous ground surveys. Following on from the successful drilling program, Monax entered into a Farmin agreement with OM (Manganese) Ltd, a wholly owned subsidiary of OM Holdings Limited (ASX:OMH), for further exploration work on the Waddikee tenement. Two further drilling programs have conducted on the tenement, as part of the Farmin Agreement, with the best results to date received at the Hodgins (HRC) prospect with HRC05 returning overall 52m @ 21.2% Mn (4-56m).

Since October 2009, Monax has expanded its focus into the prospective Cape York area of Queensland, and now has a suite of tenements prospective for bauxite.