VANCOUVER, April 15, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY
and FSE: D7Q1) "Monument" or the "Company" is pleased to report that
recent drill assay results from its ongoing drilling program at Buffalo
Reef continue to define and extend the oxide and sulfide resources
located next to its producing Selinsing open pit gold mine in Pahang,
Malaysia. Delivery of oxide material from Buffalo Reef to the Selinsing
plant started in February 2013 and processing of these ores commenced
in earnest in early March, 2013.
ASSAY HIGHLIGHTS:
-
MBRDD034 intersected 9.0 meters (9.5-18.5m) at 6.60 g/t gold in oxide and two
separate underlying sulphide zones of 2.9m (71.0-73.9m) at 3.22 g/t Au
and 7.4m (75.6-83.0m) at 3.88 g/t Au;
-
MBRDD036 intersected 14.3m (0-14.3m) at 4.91 g/t gold in oxide;
-
MBRRC173 intersected 3.0m (13.0-16.0m) at 2.56 g/t Au and 10.0m (22.0-32.0m) at
5.63 g/t Au in oxide; and
-
MBRRC175 intersected 7.0m (22.0-29.0m) at 3.71 g/t Au in oxide and an underlying
zone of 7.0m (29.0-36.0m) at 3.63 g/t Au in sulfide.
Monument started its Buffalo Reef exploration program in 2010 with an
initial $0.8 million budget for 5,700 meters of drilling in 33 holes.
As of December 2012 a total of 13,516 meters in 178 holes have been
drilled:
2010-October 2011: 947 meters in 8 holes
Oct 2011-June 2012: 3,172 meters in 17 holes
July 2012-Dec 2012: 9,397 meters in 153 holes
The first 8 drill holes (MBRDD001 to MBRDD008) totaling 947 meters were
drilled for metallurgy testing and were completed by October 2011.
Drilling since October 2011 focused on exploration and resource
definition adjacent to and along strike from the known North, Central
and South resources, including the area between Buffalo Reef South and
the Selinsing pit.
The FY2013 Buffalo Reef drilling, budgeted at US$4.44 million, not
including assays and labor, commenced July 1, 2012 and includes 5,171m
reverse circulation (RC) drilling and 10,825m diamond drilling. As of
December 31, 2012, 50 diamond drill holes (MBRDD025 to MBRDD073)
totaling 4,785.9m and 93 RC drill holes (MBRRC167 to MBRRC259) totaling
4,611m have been completed. From January 1, 2013 to March 31, 2013 a
total of 26 drill holes totaling 3225.8m have been completed at Buffalo
Reef (sampling and/or assays for these drill holes are in progress).
There are currently 3 exploration drills operating at Selinsing and
Buffalo Reef.
Assaying of early Buffalo Reef drill holes was delayed due to
prioritization of Selinsing exploration and production drill holes.
Table 1 below lists assays received as of December 31, 2012. Drill
results for portions of MBRDD001 to MBRDD008 were previously reported
in the 2011 NI 43-101 report by Snowden. Assays for RC drill holes
from MBRRC179 to MBRRC259 as well as several diamond drill holes are
pending. The full list of drill results and a drill hole location map
are presented on the Company's website at www.MonumentMining.com.
Some of the better Buffalo Reef South drilling results are highlighted
above. These drill results demonstrate that gold mineralization at the
Buffalo Reef deposit continues at depth along several east-dipping
structural zones. Mineralization is hosted in an interbedded sequence
of argillite, graphitic argillite, calcareous argillite, graphitic
calcareous arenite, felsic tuff, and phyllite rocks with weak to
moderate gold-bearing quartz+arsenopyrite±stibnite veins and stockwork
veinlets. Oxide materials exposed in the Buffalo Reef South resource
are currently being mined and processed.
Buffalo Reef Mining and Metallurgy
Buffalo Reef South has been pre-stripped of overburden and is currently
being mined. Long term planning enabled the overburden to be used for
the nearby TSF upgrade and precluded the need at this stage to
establish a new waste dump. Buffalo Reef oxide materials are targeted
to contribute approximately 13,000 tonnes of mill feed to the Selinsing
mill on a monthly basis for the remaining FY2013. Additional
metallurgy testwork is currently in progress on sulfide refractory
mineralization from the Buffalo Reef Central resource zone to confirm
the excellent gold recovery results (using flotation, bio-oxidation,
and CIL processing) achieved at Buffalo Reef South and North resource
zones as published in the 2011 NI 43-101 Technical Report by Snowden.
The updated Selinsing and Buffalo Reef NI 43-101 resource and reserve is
planned to be published soon. This report will include an update of
the Phase IV bio-oxidation mill plant expansion that will be required
in order to process some of the more complex refractory sulfide
materials.
QA/QC
The information in this press release has been reviewed and approved by
Todd Johnson (MS, P.E.), Vice President of Exploration for Monument
Mining Limited, who is also the Qualified Person as required by
National Instrument 43-101 guidelines. Todd Johnson has visited the
Selinsing and Buffalo Reef sites several times since October 2011 to
the present (last trip was in November 2012) to observe the drilling,
sampling, and geological activities.
Drill holes at Buffalo Reef are being sampled and logged at site in a
secured and fenced area. Most of the drill hole samples are shipped to
SGS Malaysia at Port Klang, an accredited lab that complies with MS
ISO/IEC 17025:2005 requirements, for sample preparation and analysis.
The samples are dried, crushed to 90% passing 4.0 mm and pulverized to
90% passing -75 microns and analyzed for: Au fire assay (2 assay ton)
using the FAA505 analysis method; and ICP Ag, ICP As, and ICP Sb. As
part of the Quality Control and Quality Assurance program, certified Au
standards and non-certified blank materials are inserted approximately
every 20 samples into the sample sequence. Some of the Buffalo Reef
drill holes are being assayed at the Selinsing Mine assay lab (not an
accredited lab) operated by Monument staff using similar sample
preparation and assay protocols. Assay results reported in this press
release are drill thicknesses but approximate true thickness as most
drill holes are generally oriented at a magnetic azimuth of 270 degrees
with an inclination of 50 to 70 degrees (near perpendicular to the
strike and dip of the mineralization zones). All reported diamond
drill hole assay results in this press release are associated with
recoveries greater than 80 pct.
Table 1. Summary of Buffalo Reef drill hole intercepts received as of
December 31, 2012.
DHID
|
Area
|
Hole Depth
|
Depth From (m)
|
Depth To (m)
|
Thickness (m)
|
Au (g/t)
|
Mineralization Type
|
MBRCD006
|
South
|
169.6
|
119.3
|
120.5
|
1.2
|
1.52
|
sulfide
|
MBRCD007
|
South
|
164.0
|
115.95
|
131.2
|
15.2
|
2.63
|
oxide
|
MBRDD007
|
|
|
116.0
|
122.3
|
6.3
|
4.99
|
sulfide
|
MBRDD007
|
|
|
123.1
|
129.2
|
6.1
|
1.17
|
sulfide
|
MBRDD007
|
|
|
129.8
|
131.2
|
1.4
|
0.70
|
sulfide
|
MBRDD008
|
South
|
170.1
|
44.5
|
46.0
|
1.5
|
0.66
|
oxide
|
MBRDD008
|
|
|
108.5
|
112.5
|
4.0
|
1.98
|
sulfide
|
MBRDD008
|
|
|
116.8
|
118.2
|
1.4
|
0.57
|
sulfide
|
MBRDD008
|
|
|
120.5
|
128.8
|
8.3
|
4.02
|
sulfide
|
MBRDD008
|
|
|
144.3
|
148.8
|
4.5
|
1.48
|
sulfide
|
MBRDD009
|
South
|
254.5
|
135.6
|
136.6
|
1.0
|
10.4
|
sulfide
|
MBRDD009
|
|
|
141.4
|
145.5
|
4.1
|
6.32
|
sulfide
|
MBRDD009
|
|
|
150.2
|
158.7
|
8.5
|
2.75
|
sulfide
|
MBRDD010
|
South
|
226.6
|
153.0
|
154.5
|
1.5
|
1.74
|
sulfide
|
MBRDD011
|
South
|
101.0
|
9.0
|
17.5
|
8.5
|
2.25
|
oxide
|
MBRDD012
|
South
|
107.0
|
15.5
|
18.5
|
3.0
|
5.36
|
oxide
|
MBRDD013
|
South
|
174.3
|
129.8
|
130.3
|
0.5
|
0.62
|
sulfide
|
MBRDD013
|
|
|
142.9
|
143.5
|
0.6
|
0.41
|
sulfide
|
MBRDD014
|
South
|
100.0
|
21.2
|
22.7
|
1.5
|
1.74
|
oxide
|
MBRDD014
|
|
|
29.0
|
32.7
|
3.7
|
2.12
|
oxide
|
MBRDD014
|
|
|
41.0
|
42.7
|
1.7
|
5.77
|
oxide
|
MBRDD015
|
South
|
100.1
|
13.1
|
16.7
|
3.6
|
1.21
|
oxide
|
MBRDD016
|
Central
|
100.5
|
39.3
|
40.3
|
1.0
|
0.74
|
oxide
|
MBRCD017
|
Central
|
65.0
|
12.1
|
14.55
|
2.45
|
1.28
|
oxide
|
MBRDD017
|
|
|
15.4
|
19.4
|
4.0
|
1.21
|
oxide
|
MBRDD017
|
|
|
20.2
|
20.85
|
0.65
|
0.50
|
oxide
|
MBRDD017
|
|
|
22.4
|
23.0
|
0.60
|
0.52
|
oxide
|
MBRDD018
|
North
|
300.4
|
95.1
|
100.25
|
5.15
|
3.03
|
sulfide
|
MBRDD025
|
South
|
200.0
|
8.0
|
12.5
|
4.5
|
1.75
|
oxide
|
MBRDD025
|
|
|
35.0
|
36.5
|
1.5
|
0.43
|
sulfide
|
MBRDD025
|
|
|
125.9
|
132.5
|
6.60
|
1.88
|
sulfide
|
MBRDD025
|
|
|
136.5
|
138.7
|
2.20
|
2.73
|
sulfide
|
MBRDD025
|
|
|
144.5
|
146.0
|
1.5
|
0.92
|
sulfide
|
MBRDD025
|
|
|
176.0
|
178.9
|
2.90
|
0.71
|
sulfide
|
MBRDD025
|
|
|
183.4
|
184.9
|
1.5
|
0.57
|
sulfide
|
MBRDD034
|
South
|
140.0
|
9.5
|
18.5
|
9.0
|
6.60
|
oxide
|
MBRDD034
|
|
|
71.0
|
73.9
|
2.9
|
3.22
|
sulfide
|
MBRDD034
|
|
|
75.6
|
83.0
|
7.4
|
3.88
|
sulfide
|
MBRDD035
|
South
|
50.0
|
0.0
|
16.3
|
16.3
|
1.81
|
oxide
|
MBRDD036
|
South
|
50.0
|
0.0
|
14.3
|
14.3
|
4.91
|
oxide
|
MBRRC167
|
Central
|
65.0
|
9.0
|
17.0
|
8.0
|
1.46
|
oxide
|
MBRRC167
|
|
|
17.0
|
20.0
|
3.0
|
1.38
|
sulfide
|
MBRRC168
|
Central
|
75.0
|
38.0
|
42.0
|
4.0
|
1.36
|
sulfide
|
MBRRC168
|
|
|
62.0
|
67.0
|
5.0
|
2.25
|
sulfide
|
MBRRC168
|
|
|
71.0
|
73.0
|
2.0
|
1.06
|
sulfide
|
MBRRC169
|
South
|
51.0
|
15.0
|
16.0
|
1.0
|
0.58
|
oxide
|
MBRRC170
|
South
|
30.0
|
0.0
|
1.0
|
1.0
|
0.43
|
oxide
|
MBRRC171
|
South
|
40.0
|
0.0
|
4.0
|
4.0
|
1.43
|
oxide
|
MBRRC172
|
South
|
55.0
|
13.0
|
29.0
|
16.0
|
1.80
|
oxide
|
MBRRC173
|
South
|
70.0
|
13.0
|
16.0
|
3.0
|
2.56
|
oxide
|
MBRRC173
|
|
|
22.0
|
32.0
|
10.0
|
5.63
|
oxide
|
MBRRC174
|
South
|
74.0
|
47.0
|
55.0
|
8.0
|
3.00
|
sulfide
|
MBRRC174
|
|
|
57.0
|
60.0
|
3.0
|
3.21
|
sulfide
|
MBRRC175
|
South
|
64.0
|
19.0
|
20.0
|
1.0
|
1.32
|
oxide
|
MBRRC175
|
|
|
22.0
|
29.0
|
7.0
|
3.71
|
oxide
|
MBRRC175
|
|
|
29.0
|
36.0
|
7.0
|
3.63
|
sulfide
|
MBRRC176
|
South
|
60.0
|
0.0
|
9.0
|
9.0
|
5.37
|
oxide
|
MBRRC178
|
South
|
51.0
|
0.0
|
4.0
|
4.0
|
2.76
|
oxide
|
Notes:
(1) No significant assay results reported for RC drill holes MBRRC177
and MBRRC180 and diamond drill hole MBRDD005;
(2) Assays in progress for drill holes: MBRRC179 to MBRRC259; MBRDD019
to MBRDD024; and MBRDD026 to MBRDD033; and MBRDD037 to MBRDD073;
(3) Diamond drill hole numbers MBRDD005 to MBRDD008 were drilled in
2011 as part of the metallurgy drilling and testing program and assayed
at Inspectorate in Richmond, Canada which is a certified ISO:9001-2008
lab;
(4) Diamond drill holes MBRDD001 to MBRDD004 were drilled as metallurgy
drill holes in 2010 and the collar information and assays are still
being validated;
(5) Most exploration drill holes assayed at the SGS (Malaysia) lab;
Drill holes MBRRC170, MBRRC171, and MBRRC172 were prepared and assayed
at the Monument staff operated Selinsing gold mine assay lab.
|
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, with production cash costs among the lowest in the world.
Its experienced management team is committed to growth and is advancing
several exploration and development projects in Malaysia, including the
100% owned, development stage, Mengapur Polymetalic Project. The
Company employs 280 people in Malaysia and is committed to the highest
standards of environmental management, social responsibility, and
health and safety for its employees and neighboring communities.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statement
This news release contains forward-looking statements about Monument
Mining Limited ("Monument"), its business and future plans.
Forward-looking statements are statements that are not historical facts
and include the timing of the proposed programs and events. The
forward-looking statements in this news release are subject to various
risks, uncertainties and other factors that could cause actual results
or achievements to differ materially from those expressed or implied by
the forward-looking statements. These risks and certain other factors
include, without limitation, the estimated cash cost per ounce of gold
production and the estimated cash flows which may be generated from the
operations, general economic factors and other factors that may be
beyond the control of Monument; statements regarding the future price
of gold; the estimation of mineral resources; conclusions of economic
evaluation (including scoping studies); the realization of mineral
resource estimates; the timing and amount of estimated future
production, development and exploration; costs of future activities;
capital and operating expenditures; success of exploration activities;
mining or processing issues; currency exchange rates; government
regulation of mining operations; and environmental risks. Generally,
forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration activities;
foreign operations risks; other risks inherent in the mining industry
and other risks described in the annual information form of the
Company, which is available under the profile of the Company on SEDAR
at www.sedar.com. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward- looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE: Monument Mining Limited
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact: