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Monument Mining Ltd V.MMY

Alternate Symbol(s):  MMTMF

Monument Mining Limited is a Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has a 20% interest in Tuckanarra Gold Project, jointly owned with Odyssey Gold Ltd in the same region. Located in the Central Gold Belt of Western Malaysia, the Selinsing Gold Mine covers a total area of approximately 150.3 square kilometers (km2) and includes the Selinsing, Buffalo Reef, Felda Land, Peranggih and Famehub properties. The Murchison Gold Project includes the Burnakura, Gabanintha, and Tuckanarra properties, which are located in the Murchison goldfield of Western Australia, 40 kilometers (km) southeast of Meekatharra and approximately 765km northeast of Perth. Buffalo Reef lies continuously and contiguously along the gold trend upon which the Selinsing Gold Property is located. Both Felda and Famehub are located east and north of the Selinsing and Buffalo Reef properties.


TSXV:MMY - Post by User

Post by deiwelon May 04, 2021 6:18am
113 Views
Post# 33121600

just remember

just remember

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.


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