MOX: Monax Mining Ltd

[stolwyk]

MOX: Monax Mining Ltd: http://www.monaxmining.com.au/

Shares: 49.2 mill. About 20 mill of these are on longer term escrow, leaving 29.2 mill listed shares issued. HAV holds 10% of shares.
Unlisted 2008-2010 options: 10 mill.

Quarterly: Cash on 31 March 2006: $4.1 mill. Outflow: $0.563 mill.

25 Oct. 2005: Property Exploration Priorities Updates:
http://sa.iguana2.com/cache/d8f8389a...MOX-148692.pdf

29 Nov 2005: Chairman's address:
http://sa.iguana2.com/cache/92e3aadd...MOX-149294.pdf

Monax issues monthly reports: June 30:
http://sa.iguana2.com/cache/bab9be21...MOX-152702.pdf

3rd quarter activities/cashflow report (March 31, 2006):
http://sa.iguana2.com/cache/d53ed324...MOX-151964.pdf


PROJECTS:
1. PUNT HILL: Uranium, Copper, Gold,
23 Jan 2006: Completion of Punt Hill Gravity Survey
http://sa.iguana2.com/cache/87d35eab...MOX-150051.pdf

13 July: Targets Uranium Copper & Gold as drilling program commences
http://sa.iguana2.com/cache/1bbae204...MOX-152947.pdf
Extract:
Monax Mining Limited will next month commence its biggest exploration program since listing on the Australian Stock Exchange last year with plans to outlay up to $2 million drilling the prospective Punt Hill tenement in South Australia’s far north.
Monax (ASX code ‘MOX’) today announced that an initial ten hole drilling program, costing around $1 million, will be undertaken on the tenement (EL 3457). However, the company plans to double the program to 20 holes, a total investment of up to $2 million, if the initial drilling results are encouraging.

Managing Director, Mr Michael Schwarz, said Monax would target Olympic Dam-style uranium, copper and gold targets in the Punt Hill tenement which is located in a highly prospective area of the State that recently yielded the Carrapateena copper discovery, 25 kilometres north of Punt Hill.

At least 14 high priority drill target areas were identified from an assessment of the company’s 1x1 km gravity survey data conducted late last year. These anomalies are interpreted to be structurally controlled along regional northwest – southeast trending faults in a geological environment similar to the Carrapateena discovery, Olympic Dam and Prominent Hill.


2. AMBRIOSA PROSPECT: Uranium, Gold
3 March 2006: Media Release: SA Uranium Survey Results Spectacular
http://sa.iguana2.com/cache/c3c2caae...MOX-150932.pdf

30 March: Extends its uranium exploration portfolio
http://sa.iguana2.com/cache/4bd92639...MOX-151398.pdf


3. KANGAROO ISLAND: Bonaventura Prospect: Zinc, Lead.
17 March 2006: Monax to drill Kangaroo Island Zinc Prospect
http://sa.iguana2.com/cache/7db3096d...MOX-151193.pdf

16 May: Kangaroo Island New Focus for Zinc Exploration: 8 holes to drill.
http://sa.iguana2.com/cache/cf96ac37...MOX-152163.pdf


Subject to audit,

Gerry
Holding MOX
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[bronson]

Gee there is lots of chatter about this one on some of the other share forums............

[Dazza]

heheh i knew ud be here in here soon gerry.

i jumped in today, afta watching them from low 20s

[stolwyk]

Expecting drilling results from Kangaroo Island (Zinc, lead) next week.

MOX moving up: 33 cents.

Gerry

[bronson]

Shares down 6.5 cents to 25 cents on news of Zinc results.

Are the results that bad and what is the outlook for the future?

A lot of people have been sucked up into this share only to be disappointed so far.

[stolwyk]

You guys need to look at the big picture and read the posts carefully.

I did'nt invest for the zinc although the jury is still out on this one.

[stolwyk]

From announcement, 24 July:
http://sa.iguana2.com/cache/16ab3e2e...MOX-153080.pdf

Extract:
"Monax believes the project has significant potential to extend mineralisation in all directions and at depth. An induced polarisation survey is planned prior to the next round
of drilling to target zones of high grade mineralisation.
“I believe we are only just scratching the surface on this project” commented Mr Schwarz.
“This mineralisation sits at the north-western end of a major dilational feature in the Snelling-Cygnet Fault Zone which extends for a further five kilometres to the south-east and we have evidence for alteration along most of this structure”.

Historical prospects targeting zinc, lead, copper and gold occur along 40km of the fault zone suggesting further potential outside of this zone. Monax’s Parndana and Western River tenements cover the
entire length of this feature".

[bronson]

quote:Originally posted by stolwyk

the jury is still out on this one.

Sounds like you are getting wet feet

[stolwyk]

Monax likes Kangaroo Island zinc

Ben Sharples
Tuesday, 25 July 2006

MONAX Mining says it has discovered a zone of significant zinc mineralisation close to the surface at its Bonaventura prospect on Kangaroo Island, and is ramping up for a major drill campaign at its flagship Punt Hill project in South Australia.



Reverse circulation drilling returned hits of 16m at 3.42% zinc and 0.66% lead from 34m, including 6m at 6.3% zinc and 2m of 1.2% lead, 23m at 1.16% zinc (ended in mineralisation), and 23m at 1.22% zinc from 98m (ended in mineralisation).

Monax said the mineralisation was open in all directions and at depth, with the three most southerly holes ending in mineralisation. The company said drilling had confirmed zinc mineralisation over an area of 300m across the controlling structure and 250m along strike.

The company said the drill campaign confirmed the possibilities of high-grade zinc-lead veins and potential bulk mineable lower-grade mineralisation consisting of veins and veinlets.

However, Monax said due to the high influx of groundwater, most of the holes could not be completed to target depth and a follow-up diamond drilling program is planned for the "near future" to the target depth, and test the depth and lateral extent of mineralisation.

Monax managing director Michael Schwarz told MiningNews.net the company hoped to get back on the ground within the next two months and would look to complete an induced polarisation survey to the next round of drilling to target zones of high-grade mineralisation.

"[A resource] will be a long way off, because there was only one aircore drilling program completed previous to us, targeting that mineralisation, and that was just touching the surface, it didn't even get down to fresh rock," he said.

"This is really the first primary bedrock drilling that has been done in that area.

"We are very encouraged by the results even though it wasn't high grades … and we're very happy that we got reasonable amounts of visible mineralisation even though we couldn't get down to our target depth. But we are at a very early stage of drilling."

In addition, Schwarz said the company had geared itself up for a bit of a battle with people on Kangaroo Island but was pleasantly surprised that the islanders were welcoming.

"We had community consultation meetings right from the start before we even set foot on the ground and let them know who we were, what we were doing and why we were there and what the process would be," he said.

"I think that has held us in good stead to have an open dialogue with everybody."

Elsewhere, Monax plans to get on to the ground at its flagship Punt Hill project located about 70km to the north of Port Augusta and 25km to the south of the Carrapateena discovery.

"We've done some semi-regional gravity over that area which has defined some nice iron-oxide-copper-gold targets," Schwarz said.

"We've got 10 drill holes planned initially for a total spend of $1 million and then if we get some positive results, we'll commit another $1 million for another 10 drill holes, and these are quite deep, they're going to about 750m.

"It's a big commitment by Monax but we've got a lot of confidence in that project, it's our flagship project so we have to make sure we test all of our targets thoroughly."

http://www.miningnews.net/storyview....2§ionsource=s0


+++++++++++++++++++++++++++++++++++++++++++

HC, 25 July
Three chances arising from my previous post:

1. PUNT HILL: Uranium, Copper, Gold,
Drilling starting next month: 10 holes to drill to be followed possibly by another 10.

2. AMBRIOSA PROSPECT: Uranium, Gold
A drilling program to be drawn up once the new extensions have been investigated.

3. KANGAROO ISLAND: Bonaventura Prospect: Zinc, Lead.
Drilling of 8 holes is proceeding.

The location of these projects are in South Australia:
http://www.monaxmining.com.au/home.htm

That means that if they discover anything worthwhile, a takeover can proceed without too many problems.

[stolwyk]

June 30 quarterly reports:
http://sa.iguana2.com/cache/c628a395...MOX-153249.pdf