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Monument Mining Commences 3D Structural Geological Study at the Murchison Gold Project
VANCOUVER, British Columbia, Aug. 15, 2019 (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. 15, 2019 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (\"Monument\" or the \"Company\") is pleased to announce the commencement of a 3D structural geological study at the Murchison Gold Project as part of exploration work under the Murchison development strategy. The Murchison Gold Project is 100% owned by Monument Mining Limited through its wholly-owned Australian subsidiary, Monument Murchison Pty Ltd, and consists of the Burnakura, Gabanintha and Tuckanarra projects in Western Australia. Background The Murchison Gold Project has historical resources of 640,000 gold ounces and a fully operational camp. From acquisition in February 2014 to date, a total of 381,000 gold ounces have been either converted or discovered to the current resources under NI43-101 standards at Burnakura alone. The existing Burnakura gold processing plant is ready to be upgraded for production with a newly designed and refurbished three stage crushing plant and be placed into production at Burnakura site. Several studies were carried out over last couple of years for potential early stage production with positive results. Based on this, the Company has decided to further increase the gold inventory to optimize the economic outcomes with an exploration strategy, aiming to explore for a larger gold system. In fiscal 2019, the Company further collected and assembled all historical and current geological data, and completed the 2D structural geological modeling and interpretation, which has provided initial exploration targets. An exploration program has been tabled for management review to test the targets. 3D Geological Structural Study The major exploration potential is down deep of the historical multiple open pits and surrounding areas, as a result, a 3D structural geological study has now been initiated to support deep drilling target generation for the drilling program. Principal structural geologists, Dr. Jun Cowan (JunCowan) and Dr. Oliver Kreuzer (X-plore GeoConsulting) will perform the study which is comprised of a 3D survey, data analysis, 3D modeling, and reporting at the Burnakura and Gabanintha projects, anticipated to be completed in 6 weeks (See Figure 1, Project Location Map). As an outcome, the geological structural architecture would allow us to determine near-mine targeting for...