Mining Resuming at Murchison I think it is apparent by now that Murchison has become the major focus area of our corporate development program, bringing diversity of mining area while adding the critical component of production growth.
In terms of gold resources, Murchison is already ahead of Selisning and recent drilling will advance that disparity considerably.
Altogether, there are 30 priority drilling targets for Burnakura and an equal number for Gabathinna.
To quote management, Murchison Gold project has great upside potential and market attraction
A major priority of management is to resume early production at Murchison.
Insofar as I can ascertain, NOA7/8 will be the initial production zone. Recall that NOA 7/8 is the northernmost portion of the North of Alliance (“NOA”) deposits at Burnakura Project with Indicated Resource of 114 koz Au @ 4.6 g/t Au ( 2018 43-101 )
Monument has recently completed a drilling program at the Burnakura Property, which was targeting depth extensions to the NOA 78 and Alliance depot and for mettalurugical studies.
NOA 7/8 program was successful in extending the known mineralization approximately 130m down plunge.....
.see Fig 2 ..and had superb grades ( see Table 1 )
Note also that these new holes were step outs which extended the mineralization north and east of the 43-101 Area.
So, at NOA7/8, we have high grade shallow gold zone which has now been extended 130 m below the current pit.
There is also an underground mining portal for NOA7/8 and the mill is right alongside.
So, an ideal area for resuming mining which, given the grades and ounces, will last 3 years just for the shallower 114,000 ounces, and thereafter by undergound mining whose grades are superb and , being extensonal, for unknown number of years.
In the interim years, rich cash flows from these high grade zones will fund exploration and development of the multipe other open pits and their underground extensions , possibly making the open pit resources look rather modest ( 550,000 ounces in 2018 )