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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 nozzpackon Apr 05, 2023 5:41am
184 Views
Post# 35380330

If this is the case…

If this is the case…

 

The original mining plan was to recover 223,000 ounces over a 6 year mine life at an average grade of 1.45 gms per ton .

So, an average of about 39,500 ounces per year.

 

A new Feasability study was done by Snowden in March 2023 which incorporated recent ( since 2019 and very recent ) infill and extensional drilling results which defined a new source of high grade sulphides at Buffalo Reef whose three pits contained most of the historical sulphides.

Undoubtedly, other key parameters such as Mass pull were also upgraded.
Also, higher grades mean higher gold recovery per ton of gold mined both of which , including higher grades, will significantly decrease the cash costs.

So, doubling production would require about 2.5 gms per ton when other 
optimizations , as described, are included but , that the cutoff grade was also increased from 0.5 gms to 0.67 gms per ton also helps.

So, this is my interpretation of how production can be doubled.
I doubt 80,000 ounces per year....but what do I know..but certainly see 60,000 + ounces per year as being realistic if not conservative .

What I don't know is if they have drill defined high grade ore right below the floor of the three BR pits which was modelled to be there but never drilled.
This would change everything , as it would mean that the sulphide basement rock is quite accessible by blasting through the pit floors..





 

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