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Monument Mining Commences Exploration at the Murchison Gold Project
VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” is pleased to anno
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” is pleased to announce the commencement of an extensive exploration program including a planned 15,000 metres of aircore (“AC”) drilling. This program is designed to test beneath cover for potential mineralization that is expected to lead to the discovery of shallow stand alone or satellite gold deposits to supplement the current resource base at the 100% owned Burnakura and Gabanintha gold projects (together “Murchison Gold Project” or “Murchison”). The CEO and President Cathy Zhai commented: “In pursuing the goal of establishing the Murchison Gold Project as a cornerstone project from which to springboard Monument toward becoming a larger scale gold producer, the Company considers the discovery of new gold resources to be a priority. With all other avenues to build up gold inventory that are open and being examined from time to time, exploration at Murchison is considered the most effective and efficient way to immediately allocate our resources.” Cathy further commented: “Monument received and reviewed SRK’s gap analysis on the Company’s Life of Mine (LOM) Plan established on mining gold from 12 different open pits and a single underground development. Based on the findings of the report Monument recognizes that while the LOM plan is conceptually viable, the sensitivity of the project to fluctuations in the gold price is outside the Company’s acceptable level of risk. The current resource base at the Murchison Gold Project needs to increase, to provide support for the development and buffer against such economic fluctuations. Additional follow up works recommended by SRK to increase confidence level of the production decision including infill drilling around LOM planned areas will be conducted following the conclusion of this program of Greenfields exploration.” Highlights First time exploration drilling on high quality structural targets defined from geophysical surveys in areas of shallow cover. Potential strike extension of the known gold mineralized system at Munro Bore to be tested within the Monument land holding. Multipurpose drill rig to be deployed to the Murchison Gold Project as practical as possible. Preparation work initiated. BACKGROUND OF MURCHISON GOLD PROJECT Monument ...