The Tuckanarra property, purchased in November 2014, contains historical Indicated and Inferred JORC Mineral Resource of approximately 80koz Au and is within trucking distance of the Burnakura plant.
In December 2020, Monument sold 80% interest in the Tuckanarra Gold Project to Odyssey Gold Ltd. (ODY”) for consideration of AUD$5 million cash subject to certain conditions, leaving Monument with a 20% free carry interest. Monument also retains a 1% NSR royalty over ODY’s 80% shared interest. An unincorporated joint venture (“JV”) was formed with ODY to further the exploration of Tuckanarra. ODY will be solely responsible for funding the exploration and evaluation activities at Tuckanarra until a decision to mine is reached. The JV provides Monument the opportunity to have future ore produced by ODY to be fed into the Burnakura gold processing plant.
At Tuckanarra ODY have assays from the HQ core at Cable West which confirms multiple high-grade intercepts, and high-grade mineralization appears to be open down-dip and along plunge to the south. The assays from the HQ core taken from Cable East and Maybelle North confirm the tenor of high-grade mineralization and highlight potential for down-dip extensions in both deposits. In February 2021, ODY commenced a drilling program at Tuckanarra to test a number of high priority targets. The drilling is focusing on testing a combination of high-grade trend and extensional targets at the Bottle Dump, Cable, Maybelle, Anchor and Lucknow deposits.