Highlights

- Detailed geological mapping and soil sampling defines up to six separate manganese horizons at Jamieson Tank
- Five km strike length defined for prospective manganese horizons at Jamieson Tank
- Manganese up to 50.61% reported from rock chip sampling
- Drilling planned for late April

Monax Mining Limited is pleased to provide an exploration update for its Waddikee manganese project on Eyre Peninsula, with joint venture partner, OM (Manganese) Ltd a wholly owned subsidiary of OM Holdings Limited.

Monax has recently completed geological mapping and rock chip sampling along the entire strike length of the Jamieson Tank manganese prospect, as well as a close spaced auger soil sampling program, and ground magnetic survey.

Detailed mapping undertaken at a scale of 1:5000 has advanced the understanding of the geology within the Jamieson Tank area in particular, the manganese horizons.

Sub-crop and rock float has revealed up to six separate horizons of manganese, within a broader stratigraphy comprised of schist, chert, dolomite, ironstone and granite.

Field observations suggest that the manganese mineralisation has formed via the preferential replacement of a dolomite and/or sandstone horizon within the sequence, a style/process which is typical of many other manganese deposits such as OMH's Bootu Creek Project.

Geological investigation of the southern extension of the magnetic horizon has revealed further manganese mineralisation which was previously unknown.

This now extends the total prospective strike at Jamison Tank to approximately 5km.

Systematic rock chip sampling along the manganese horizons were undertaken in conjunction with the geological mapping.

The purpose of the sampling was to develop a coherent dataset, evaluate the manganese quality, manganese/iron ratio, and the levels of deleterious elements.

The highest assay from sample 221619 returned 50.61% Mn, with the average grade being 41.05% Mn.

Samples 221642 and 221648 reported low Mn (0.85% & 1.19% respectively) and were collected to test the Mn content of iron-rich units (samples reported 40.10% & 46.79% Fe).