Business
Monument Commences Exploration Program
Monument Commences Exploration Program.
About this update from Monument Mining Limited
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n\n\nUNITED STATES/\n\n\nVANCOUVER, Sept. 12 /CNW/ - Monument Mining Limited (TSX-V:MMY and\nFSE:D7Q1) ("Monument" or the "Company") is pleased to announce that the board\nhas approved a first stage $600,000 exploration program for the Buffalo Reef\nproject. This follows the recent closing of its RTO transaction, project\nacquisitions and closing of a $10,000,000 private placement.\n\n\nCommencement of Exploration Program.\n\n\nThe Company announces commencement of the first phase of exploration on\nthe Buffalo Reef project with work scheduled to commence in mid September\n2007. Buffalo Reef is adjacent to and continuous and contiguous with the\nSelinsing Gold Mine project. The Selinsing Project using a cutoff grade of\n0.75 gpt contains an Indicated Resource of 3,630,000 tonnes at 1.76 gpt, for\ncontained ounces of 205,000 ounces of gold and an Inferred Resource of\n7,690,000 tonnes at a grade of 1.34 gpt for contained ounces of 330,000 ounces\nof gold as described in full in the NI 43-101 Report produced by Snowden\nMining Industry Consultants and filed on SEDAR on 14th September 2006.\n\n\nThe Buffalo Reef Project has a historic resource calculated by Avocet\nMining PLC, the vendors of the property to Monument. The historic resource\nestimated that the Buffalo Reef property contains a Indicated Resource of\n1,944,000 tonnes grading 2.49 gpt Au and an Inferred Resource of\n568,000 tonnes grading 1.62 gpt Au in oxide + transitional and sulphide\nmaterials. Avocet reported the resource in accordance with the JORC code and\nuses a 0.5 gpt Au cut-off. Monument is not treating the historical resource\nestimate as a CIM defined resource, and as such the historical estimate should\nnot be relied upon. Monument believes this historical estimate provides an\nindication of the projects potential and is relevant to the proposed schedule\nof work outlined below. A NI-43-101 Summary Report on the Buffalo Reef Project\nwritten by Orequest Consultants and filed on SEDAR on 19th June 2007 confirms\nthe merits of the Buffalo Reef Project.\n\n\nThe NI-43-101 Report recommended a Phase I program of work costing an\nestimated US$535,000 which will include 1,000 metres of RC drilling and 1,400 \nmetres of diamond drilling. This work will be followe...