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Monument Mining Announces Significant Drill Intercept at the ANA, Burnakura Project in Western Australia
VANCOUVER, British Columbia, Aug. 07, 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, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (\"Monument\" or the \"Company\") is pleased to announce results of a 309m deep diamond drillhole with RC pre-collar at Alliance and New Alliance (“ANA”) Deposit, one of three drilling programs carried out at the Burnakura Property announced on May 8, 2018. All three drill programs were completed in June 2018, assays have recently been received, and results of the remainder of the programs, including the NOA 7/8 Deep Exploration Program and the Burnakura Shallow Oxide Drilling Program are still being processed and yet to be released to the market. Highlights of the ANA Deep Drilling Result High-grade mineralization was intercepted more than 170m down dip of the known mineralization at ANA. Drillhole 18RCDDH10 intersected 1.3m @ 26.8g/t Au (from Meter 194 to 195.3) (Figure 1). The favourable Banded Iron Formation (“BIF”) horizon which controls the gold mineralization has been shown to be continuous at depth. Figure 1: Assay results from drillhole 18RCDDH10 (grades in g/t Au) Alliance and New Alliance Deep Drilling Program The ANA deposit (included in the NI 43-101 Technical Report-Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia, July 2018) is structurally controlled by BIF horizons. The gold rich quartz vein commonly develops in the hanging wall of the BIF and forms a tabular 1-3m wide high grade vein, with a low grade halo developing in the BIF itself. Historically the ANA deposit was mined both open pit and underground since early 1900’s. Historical records from the State Mine Engineer records of WA reported that over 23,000oz of gold were produced underground, at an average head grade of 41.2g/t. Between 1989-1997, 30,000oz of gold were produced open pit, at an average head grade of 3.5 g/t Au, as indicated in the SRK NI 43-101 Technical Report-Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia, July 2018. The BIF which controls the mineralization, is projected to dip to the East. Drillhole 18RCDDH10 tested this favourable horizon approximately 170m below the known mineralization (Figure 2), and high grade mineralization (1.3m @ 26.8g/t, approximately true mineralization width) was intercepted almost exactly where predicted, showing that ...