Monax Mining (ASX: MOX) has finalised a heli-borne magnetic survey on the Millers Creek IOCG Project, within the Woomera Prohibitive Area in South Australia.
Millers Creek is a joint project with its strategic alliance partner, a wholly-owned subsidiary of major Chilean copper producer Antofagasta (LON: ANTO).
The project comprises three Alliance tenements together with four Maximus Resources (ASX:MXR) tenements totalling 3165 square kilometres.
Final data is expected within the next seven days, and modelling of the magnetic and gravity data will take approximately one week.
After this, the results will be presented to the Monax-Antofagasta Technical Committee for a decision to drill.
Monax is capitalised at under $4 million, and a global company like Antofagasta providing support is an endorsement of the project's prospectivity.
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