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Monument Mining Announces NI43-101 Mineral Resource Update at the Burnakura Property, Western Australia
VANCOUVER, British Columbia, July 18, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSXV:MMY) (FSE:D7Q1) ("Monument" or the "Company") is pleased to announc
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, July 18, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSXV:MMY) (FSE:D7Q1) (\"Monument\" or the \"Company\") is pleased to announce a Mineral Resource estimate update for the Burnakura property of the Murchison Gold Project in Western Australia, which has been included in “NI 43-101 Technical Report: Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia” (the “NI43-101 Technical Report”) dated July 17, 2018 and Sedar filed on July 18, 2018 under www.sedar.com. The NI43-101 Technical Report is prepared by independent consultants, SRK Consulting (Australasia) Pty Ltd (“SRK”) in accordance with the requirements of National Instrument 43-101 (“NI 43-101”). The Burnakura Gold Project is one part of Murchison Gold Portfolio (Burnakura, Gabanintha and Tuckanarra Projects), and 100% owned by Monument Mining Limited through its wholly-owned Australian subsidiary, Monument Murchison Pty Ltd. Figure 1 in Appendix 1 shows a Location Plan for the Project. The President and CEO Cathy Zhai commented, “We are excited to announce these resources, where Indicated Resources have increased to 293Koz from 98.4Koz, Inferred Resources to 88Koz from 4.4Koz (originally reported in NI43-101 “Alliance and New Alliance Gold Deposits” prepared by Darryl Mapleson of BM Geological Services in 2015). This has formed a base for the preliminary economic assessment study (the “PEA”) which is being undertaken to support the production plan at the Murchison Project. The Company will keep the market updated for the progress of development.” Ms. Zhai further commented: “Included in Indicated Resources are 114Koz underground resources from NOA7/8. The Company has recently completed a drilling program to confirm the metallurgical recoveries and continuity of the mineralization. It is anticipated that the market soon will be updated with the drilling results. Underground mining is currently under review for the early stage production plan to justify adding additional mill capacity in order to optimize the economic outcome of potential production.” Highlights A total of 293koz Indicated and 88koz Inferred Mineral Resources at the Burnakura property were independently estimated and evaluated by mining industry experts SRK consulting. The deposits involved were: Alliance and New Alliance (ANA); ...