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Monument Mining Announces Updates at the Selinsing Gold Mine
VANCOUVER, British Columbia, May 28, 2019 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to pro
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, May 28, 2019 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to provide updates at the Selinsing Gold Mine, 100% owned by Monument, including: current oxide production, tailings storage facility development, preparations for the Selinsing Sulphide Project, and exploration. Current Oxide Production Monument’s current gold production is from its remaining oxide gold ore inventory, including stockpiled super low-grade oxide ore, old tailing materials, oxide ore from Buffalo Reef and transition ore from Pit 5/6 at Selinsing. Preparation is ongoing for a trial mining program at Peranggih Gold Prospect. It is aimed to sustain the current oxide production before the sulphide production commences. The Selinsing Gold Mine started oxide gold production in September 2009 and the Mine’s cash flow has supported strong balance sheet growth with gold and copper-iron portfolios in multiple jurisdictions and development at Murchison Project in Western Australia. At Selinsing the reserves and resources have now been fully replaced with a six-year life of mine according to the feasibility study NI 43-101 Technical Report titled “Selinsing Gold Sulphide Project - NI 43-101 Technical Report” issued by Snowden Mining Industry Consultants Pty Ltd. on January 31 2019 and filed on Sedar. The economic viability of the project described in the Feasibility Study is primarily driven by adding flotation and BIOX® processes to the current Selinsing Gold Processing Plant to treat sulphide ore. Tailings Storage Facility Development Included in the Selinsing Sulphide Project’s capital expenditure projection is development of the tailings storage facility (“TSF”). The construction of the TSF is comprised of three separate embankments, the Main Embankment, the Saddle Dam and the South Dam with a total length of 1,500m and a height of 33m. SRK Consulting submitted a detailed design of the TSF expansion to Monument for review, including the basis of design, spring water management, embankment design, stability assessment and surface water management. Based on this, the Company has carried out the first phase of TSF upgrade work at the main embankment, to raise the wall level from 531.0mRL to 533.3mRL allowing for 2.3m beach freeboard. This will provide an additi...