Each one in plain English, with the numbers worked through for a shareholder.
22 July 2008drilling spud▲ Good
Drilling has started on new copper targets at Punt Hill's Groundhog prospect, picked from an induced polarisation survey. Angled holes will test a suspected mineralised fault between GHDD1 (126m @ 0.4% Cu) and GHDD2. This is the follow-up drilling promised for mid-2008.
30 June 2008drilling result▲ Good
Nine March rock chips from Pollinga returned up to 41.9% manganese. This is surface sampling, not drilling, and adds to the earlier Jamieson Tank results. Drill assays are still expected in about 8 weeks.
17 June 2008drilling result▲ GoodMajor
First-stage Waddikee drilling hit manganese in all eight Jamieson Tank traverses (2-15m down hole, preliminary logging) and in one Pollinga hole (10m). Grades are unknown until assays arrive in about 8 weeks. An inferred resource is the goal if results are good.
30 May 2008drilling result▲ Good
Rock chips from the historic Kohinoor gold mine on Kangaroo Island returned up to 28 g/t gold from the first level of the old workings. Results from the 150m diamond hole drilled in February are expected within 8 weeks.
21 May 2008drilling spud▲ GoodMajor
A 4,000m reverse circulation drill program has started at Waddikee's Jamieson Tank, Pollinga and Hodgins manganese prospects, as planned for May. New mapping extends Jamieson Tank mineralisation to over 5km. The 4-6Mt target is conceptual only.
17 Apr 2008drilling result▲ GoodMajor
Mapping found near-surface manganese at two more Waddikee prospects, Pollinga and Hodgins, supporting a potential 40km strike. Drilling of all three prospects starts in May. The share purchase plan closing was extended to 5 May; the $1.5m placement is complete.
13 Mar 2008drilling result▲ GoodMajor
Rock chips from the 100%-owned Waddikee tenement returned up to 60.1% iron, 43.8% manganese and 1.13% vanadium oxide. Early surface sampling, not drilling; it builds on the December iron ore review and adds manganese and vanadium as new themes.
15 Feb 2008drilling spud● Neutral
Diamond drilling began at the Bonaventura zinc-lead prospect on Kangaroo Island, with at least ten holes aimed at a newly recognised cross-cutting structure. Earlier hole best was 5m at 26.9% zinc. Finishing late March; aims to define a near-surface resource.
13 Feb 2008drilling scheduled▲ Good
Monax won a $75,000 PACE government grant toward a maiden four-hole, 1,200m diamond program at its 100%-owned Dingo Hill epithermal gold project, planned for May 2008. A 14km by 3km alteration zone has been mapped.
30 Jan 2008drilling scheduled▲ GoodMajor
IP survey at Punt Hill found previously unrecognised fault targets at Groundhog, Needlenose and Woodchuck. GHDD1 and GHDD2 may have narrowly missed a mineralised fault. Follow-up drilling is being scheduled, with no date given.
31 Oct 2007drilling result▲ GoodMajor
Groundhog hole GHDD4 at Punt Hill gave the best results to date: 122m at 0.47% copper, including 15m at 0.96% copper. It extends Groundhog mineralisation to over 200m of strike and follows GHDD1's 126m at 0.4% copper. Resolves the pending GHDD4 assay.
18 Oct 2007drilling result▲ GoodMajor
Second Prairie Dog hole PDDD2 at Punt Hill returned 158.2m at 0.32% zinc and 99m at 0.24% copper, including 1m at 7.58% copper. It is a second alteration system separate from Groundhog. Groundhog GHDD4 assays are due mid-November; IP surveys moved to early November.
20 Aug 2007drilling result▲ Good
Early Eyre Peninsula auger drilling found a 200m-wide lignite-rich palaeochannel, suggesting uranium potential, and four holes with weathered mafic rock possibly greenstone prospective for nickel and gold. Assays due in 4-6 weeks; PACE funds up to half the cost.
13 July 2007drilling result● Neutral
The current Punt Hill drilling program is finished: GHDD5 hit altered rock with patches of bornite, and seven step-out holes were completed, all assays pending. Next is an IP geophysics trial to find high-grade zones before more drilling. Mostly repeats earlier results.
19 June 2007drilling progress report▲ Good
Third Groundhog step-out hole GHDD4 found a 95m zone (840-935m) of disseminated chalcopyrite and pyrite, with some bornite, assays pending. Rig moves 20 June to drill the Mattaweara target, about 10 days, in the Woomera Prohibited Area, then returns to Punt Hill.
7 June 2007drilling result● NeutralMajor
Hoary hole 2 found a roughly 25m zone with copper sulphides near the granite contact, seen as consistent with the model. Prairie Dog hole 1 assays were low-grade (best 13m @ 0.55% Cu). Hole 2 showed bornite veins. Step-out drilling and downhole IP surveys are next.
23 Apr 2007drilling progress report▲ Good
New Punt Hill program of at least seven holes begins, funded by the placement and rights issue (up to $4.75m). Two Groundhog step-outs confirm alteration over 400m, assays pending; Woodchuck hole 2 and an angled Hoary hole are planned or underway. Mattaweara deepening is also planned.
28 Mar 2007drilling result▲ GoodMajor
Prairie Dog hole hit 195m of altered rock from 749m with copper sulphides; Hoary hit 111m of hematite breccia from 877m, read as an unmineralised core. Angled Hoary hole and a follow-up program are now underway at Punt Hill.
14 Feb 2007drilling progress report● Neutral
Punt Hill drilling resumes with Needlenose, about 900m northwest of Groundhog, followed by Prairie Dog and Marmot. The rig was upgraded over Christmas to drill deeper. A focused high-grade program follows the regional drilling.
15 Jan 2007drilling result▲ GoodMajor
Groundhog assays show 126m averaging 0.4% copper from 837m, including 14m @ 1.0% Cu and 0.25 g/t gold, plus 17m @ 0.41% rare earths. Monax says it is at the margin of a breccia pipe; drilling will now target higher grades nearby.
19 Dec 2006drilling result▲ GoodMajor
Woodchuck partial assays beat the first hole: 70m @ 0.41% copper from 683m, including 28m @ 0.82% Cu, plus 18m @ 0.42% rare earths. Lower section assays and Groundhog results are still awaited.
13 Dec 2006drilling result● Neutral
Seventh Punt Hill hole, Whistlepig 2, found about 227m of iron-oxide alteration from 664m, confirming continuity over at least 700m, but only minor copper sulphides at the bottom. Drilling pauses until 8 January 2007; Woodchuck assays due soon.
27 Nov 2006drilling result● NeutralMajor
First assays: Whistlepig hole returned 60m at 0.13% copper and 0.03 g/t gold from 788m, a low grade. Second and third hole assays await. Sixth hole, Punxsutawney Phil, confirms the second alteration system over 2.3km. Monax plans a second Whistlepig hole.
9 Nov 2006drilling result● Neutral
Fifth hole, Beauregard Lee, confirmed a second iron-oxide alteration system with intense hematite alteration and breccia, but no copper mineralisation is reported. Gravity anomalies will be remodelled to place later holes more accurately.
2 Nov 2006drilling result● Neutral
Fourth hole, Wiarton Willy, 8.7km northwest, found altered sandstone and shale with only minor disseminated chalcopyrite to 846m. Monax says it shows a second alteration system, but no strong copper sulphides like earlier holes.
23 Oct 2006drilling result▲ GoodMajor
Third Punt Hill hole, Groundhog, found visible bornite and chalcopyrite from 817m to 960m, with basement at 714m. Three holes along 3.6km now show copper sulphides; assays still pending. Rig moves to Wiarton Willy.
13 Oct 2006drilling progress report● Neutral
Woodchuck finished at 975m. Below about 790m the hole passed from mineralised breccia into altered shales and carbonates with visible pyrite and chalcopyrite. Rig has moved to the Groundhog target.
10 Oct 2006drilling result▲ GoodMajor
Woodchuck, the second Punt Hill hole, found visible bornite and chalcopyrite from 620m to 786m, with basement at 589m, 132m shallower than Whistlepig. Second target with copper sulphides; assays pending. Groundhog is next.
5 Oct 2006drilling progress report▲ Good
Whistlepig hole stopped at 966m, the rig's capacity, still in mineralised hematite breccia with visible bornite and chalcopyrite from 751m. Samples going for assay. Second hole, Woodchuck, started and is at 300m.
29 Sept 2006drilling result▲ GoodMajor
First Punt Hill hole (Whistlepig) hit altered volcanics at 721m, then hematite breccia with visible bornite and chalcopyrite (copper minerals), still mineralised at 771m. Encouraging but visual only; assays pending. Up to 13 targets remain.
