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Monument Mining Announces NI43-101 Mineral Resource Update at the Mengapur Property, Peninsular Malaysia
VANCOUVER, British Columbia, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") is pleased to an
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (\"Monument\" or the \"Company\") is pleased to announce a Mineral Resource estimate update for the Mengapur property in the region of Maran, Central Belt of the Malay Peninsula, State of Pahang, Malaysia (Figure 1). This Resource statement has been included in “Mineral Resource Estimate for the Mengapur Cu-Au Deposit, NI43-101 Technical Report” (the “NI43-101 Technical Report”) and expected to be filed shortly under www.sedar.com. Figure 1 The NI43-101 Technical Report was prepared by independent consultants, Snowden Mining Industry Consultants Pty Ltd (“Snowden”) in accordance with the requirements of National Instrument 43-101 (“NI 43-101”). The Mengapur Copper-Gold Project is 100% owned by Monument Mining Limited through its holding company Monument Mengapur Sdn. Bhd. (“MMSB”) in Malaysia. President and CEO Cathy Zhai commented: “We are excited to announce these resources that have brought the historical resources up to date positively under NI43-101 standards. The Company intends to advance the Mengapur Project focusing on copper first with by-products of gold and silver through further feasibility studies.” Highlights The Mengapur Cu-Au project has an intermittent history of mining, having been exploited for both magnetite oxide iron ore and copper. Drilling has identified a continuous zone of copper and gold mineralisation associated with skarn alteration around an adamellite intrusive body. The project has been drilled using diamond core drilling down to a nominal spacing of approximately 40m by 40m in a significant portion of the project area. The 2018 Mineral Resource estimate has incorporated a total of approximately 112,000m completed to date, of which nearly 53,000m were completed by Monument between 2011 and 2014. Drilling primarily comprises diamond core drilling, with some minor RC drilling. The geological interpretation has considered all known material items and represents an accurate reflection of the current geological understanding, of the copper oxide, transition and sulphide skarn type mineralisation. A total of 39.5 Mt @ 0.43% Cu and 0.18 g/t Au of Indicated Mineral Resources, along with 50.9 Mt @ 0.44% Cu and 0.11 g/t Au of Inferred Mineral Resources, reported above a 0.3% Cu cut...