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Monument Mining Commences Mining High Grade Sulphide Ore at Selinsing Gold Mine
VANCOUVER, British Columbia, March 27, 2023 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") is pleased to u
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, March 27, 2023 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (\"Monument\" or the \"Company\") is pleased to update the progress at the Selinsing Sulphide Project with the commencement of mining high grade sulphide ores from Buffalo Reef at the Selinsing Gold Mine in Malaysia. New mining equipment has been mobilized to increase mining production rates to meet commercial production rates through the soon to be commissioned sulphide treatment plant which is nearing nameplate capacity in readiness for gold concentrate sales. President and CEO Cathy Zhai commented, “The mining team have been undertaking pre-stripping activities at the Buffalo Reef area since July 2022 and has now recently exposed significant areas of sulphide ores. These higher-grade fresh ore zones will provide ample feed to enable the new processing plant to reach full production capacity in the coming weeks, and will allow the revenue stream from concentrate sales to commence which represents a new milestone in Monument Mining gold production in Malaysia.” Highlights New mining fleet mobilized for next stage of mining at Buffalo Reef; Commenced mining high grade sulphide ores for commercial gold concentrate production; Mining volume increased in March 2023 after occurrence of unexpected heavy rain in February 2023; Monthly mining rate at 450 kBCM per month and is planned to increase to 500 kBCM. Mining Reaches High Grade Ore and is Fully Ramped Up Mining has progressed well through the pre-stripping stage at Buffalo Reef since commencement in July 2022; the mining horizon recently reaching the high-grade sulphide ore levels (Figure 1). The additional new mining fleet brought by the mining contractor will allow full planned production rates to be obtained. As of February 28,2023 a total of 2.5 million bank cubic metres (BCM) or approximately 5.4 million tonnes have been mined at the Buffalo Reef area with pre-stripping waste removed of 2.4 kBCM or 5.3 million tonnes. Waste movement included construction of the Buffalo Reef creek diversion of 1.2 million BCM or 2.6 million tonnes. Ore mined includes approximately 93,000 tonnes of sulphide ores and 61,000 tonnes of oxide ores. The current mining production rate is around 450 kBCM per month and is planned to increase to 500 kBCM per month during the early years o...