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ORIGINAL: Visible Gold at Odyssey/Monument Tuckanarra JV Project Reinforce Exploration Targeting at Murchison Gold Project
2021-05-05 09:41 ET - News Release
VANCOUVER, British Columbia, May 05, 2021 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” is pleased to receive the news announced by its Joint Venture Partner Odyssey Gold Ltd (“ODY”) that significant visible gold has been intersected in its maiden diamond hole (Figure 1), a 70m step-out in the eastern extension of the developing Bottle Dump deposit at the Tuckanarra JV Project (“Tuckanarra”) located in the Murchison Goldfield. Together with other results, the new finding confirms the strong potential of the Bottle Dump trend to host high-grade gold mineralization (For details refer to: www.investi.com.au/api/announcements/ody/420449c6-9f8.pdf).
Figure 1: Significant visible gold is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f33fad6e-54b6-4e35-8110-27a52264226f
President and CEO Cathy Zhai said: “The recent results from Tuckanarra, whilst very preliminary, confirm and re-inforce Monument’s view that extensive high-grade gold mineralisation remains to be discovered at Burnakura and Gabanintha. This is an exciting outcome as Monument prepares to commence its exploration program for 2021.”
The results at Tuckanarra confirm the Company’s view that the true potential of the Murchison Project is yet to be defined. Historical mining operations have exploited the shallow high grade gold mineralisation at Burnakura and Gabanintha through both open pit and underground developments. The full depth and strike extent of the mineralisation within these two systems is still to be tested with mineralisation remaining open in many directions at multiple deposits.
The Tuckanarra project is one of three significant land holdings that make up Monument’s Murchison Project. Burnakura, Gabanintha and Tuckanarra are within the Archean Meekatharra-Wydgee greenstone belt of the Yilgarn Craton. All have high grade gold potential. Given priority to Burnakura and Gabanintha, 80% of Tuckanarra interest was sold to ODY last December to advance exploration, and Monument remains with 20% free carried interest until a decision to mine is made, plus a 1% net smelter return royalty over Odyssey’s 80% interest. ODY has access to Burnakura mill for their production subject to commercial terms.
The scientific and technical information in this press release has been reviewed and approved by Roger Stangler, MEng, FAusIMM, MAIG, a Qualified Person as defined by NI43-101, retained by Golder Associates Pty Ltd.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is also advancing the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra JV (20% interest) in the Murchison area of Western Australia. The Company employs approximately 200 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact: