Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to announce encouraging drill results from a 681m diamond drill program for 14 holes at the Selinsing Gold Mine Pit 4 west wall,
which has the potential to increase the current Selinsing gold resources. Additional opportunities for infill and extension drilling were identified (see Figure 1).
Figure 1: Pit 4 Oblique view looking west
Significant Intercept Results
Assay results above 0.35 g/t Au (Monument’s oxide cut-off) are listed below (Table 1) including significant intercepts from
MSMDD211 (2m @ 1.06 g/t from 40m),
MSMDD215 (2.6m @ 7.62 g/t from 54.2m) and
MSMDD217 (8.5m @1.33g/t from 14.5m), which indicates that the mineralization has extended outside of the resources defined in the NI43-101 report (the “January 2019 Snowden Feasibility Study”).
However, it does not extend west beyond the currently known footwall plane. Additional information on drilling results from this drill program is shown in Appendix 1,
and collar locations are presented in Figure 2.
HOLE ID (AZ, DIP) (DEGREES) | HOLE DEPTH (M) | FROM (M) | TO (M) | INTERCEPT (M) | TRUE WIDTH (M) | AU (G/T) |
MSMDD211 (262, -60) | 60 | 40.0 | 41.0 | 1.0 | 1.0 | 0.95 |
41.0 | 42.0 | 1.0 | 1.0 | 1.17 |
MSMDD212 (262, -60) | 60 | 4.8 | 5.8 | 1.0 | 1.0 | 0.93 |
MSMDD213 (262, -60) | 60 | 2.0 | 3.5 | 1.5 | 1.5 | 1.32 |
49.7 | 50.9 | 1.2 | 1.2 | 1.41 |
MSMDD214 (262, -60) | 60 | 14.0 | 15.5 | 1.5 | 1.5 | 1.70 |
16.2 | 17.2 | 1.0 | 1.0 | 0.57 |
30.5 | 31.5 | 1.0 | 1.0 | 0.36 |
33.5 | 35.0 | 1.5 | 1.4 | 0.47 |
35.0 | 36.5 | 1.5 | 1.4 | 1.63 |
36.5 | 37.5 | 1.0 | 1.0 | 0.40 |
43.5 | 44.5 | 1.0 | 1.0 | 0.37 |
MSMDD215 (262, -60) | 80 | 29.0 | 30.5 | 1.5 | 1.5 | 0.36 |
54.2 | 55.5 | 1.3 | 1.3 | 11.80 |
55.5 | 56.5 | 1.0 | 1.0 | 3.43 |
63.5 | 65.0 | 1.5 | 1.5 | 0.76 |
65.0 | 66.5 | 1.5 | 1.5 | 0.70 |
MSMDD217 (0, -90) | 40 | 14.5 | 15.5 | 1.0 | 0.6 | 0.45 |
15.5 | 17.0 | 1.5 | 1.0 | 0.48 |
17.0 | 18.5 | 1.5 | 1.0 | 2.32 |
18.5 | 20.0 | 1.5 | 1.0 | 2.33 |
20.0 | 21.3 | 1.3 | 0.8 | 1.23 |
21.3 | 23.0 | 1.7 | 1.1 | 1.16 |
MSMDD218 (0, -90) | 51 | 5.3 | 6.5 | 1.2 | 0.8 | 1.00 |
6.5 | 7.0 | 0.5 | 0.3 | 1.26 |
7.5 | 8.0 | 0.5 | 0.3 | 0.37 |
MSMDD224 (262, -60) | 30 | 11.0 | 12.3 | 1.3 | 1.2 | 0.73 |
12.3 | 12.9 | 0.6 | 0.6 | 0.75 |
Figure 2: Pit 4 Drill Hole Map (Proposed and successful holes)
Pit 4 Drilling and Interpretation
The Pit 4 West Wall is considered the most suitable and prospective opportunity for additional immediate oxide mill feed.
Under this drill program 14 holes were drilled for a total of 681m at Selinsing Pit 4.
The results from 11 infill holes at the southwestern corner of Pit 4 show promising intersections and confirm the continuity of the high grade mineralized
structure within a 60m corridor along the strike length.
North West Wall: Grade control data on the North West Wall suggests that there is significant mineralization left behind that was delineated by previous drilling programs.
This mineralization needs to be quantified and better delineated through a short drilling program (see Figure 3: “North West Wall”).
Figure 3: North West Wall
The current pit outlined in the 2019 Snowden feasibility study is based on the resource model from the previous exploration RC drilling results and does not include the grade control information.
The close space GC data shows more intense mineralization as compared to the results obtained from RC holes which indicate that the previous drilling
may understate the presence of stronger gold occurrence within this area especially within 60 meter strike corridor between section 2100N-2140N.
Three holes drilled (MSMDD 219, 220, 221) at the northwest corner of pit 4 confirmed that the mineralization does not extend west beyond the currently known footwall plane.
South West Corner: There is also a significant portion of shallow mineralization in the southwest corner of pit 4 which has not been included in the current resource model in the 2019 Snowden Feasibility Study.
Based on new geological/structural inputs, infill and step out drill holes were designed to extend and upgrade this mineralization (see Figure 4. “Series Sections towards South”).
There is an opportunity to mine the ore located at the pit wall between section 1810N to 1860N approximately within 50m strike corridor (sections ‘c’ to ‘e’).
The mineralization in this area contains high and low grade oxide material according to assay results.
Figure 4: Series Sections towards South (in red interpretation for mineralisation boundaries).
The infill drilling results confirmed good continuity of moderately dipping mineralized structures at the southwest corner of Pit 4.
Pit optimizations will now need to be run to include the results of this drill program.
The mineralization is hosted in quartz stockwork within faulted and sheared tuffaceous sediment.