Business
Monument Mining Heads Toward Commercial Production at Selinsing Gold Mine
VANCOUVER, British Columbia, May 30, 2023 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") is pleased to upd
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, May 30, 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. The ramp-up of the flotation plant has made great headway, with the mill feed rate of 113 dry tonnes per hour achieved, being 95% of the design capacity of 119 dry tonnes per hour. The plant construction and mine development consumed a total of $18 million, in line with the budget. President and CEO Cathy Zhai commented, “We are very pleased with the flotation plant ramp-up progress as we head towards full commercial production. We have commenced sulphide production in January 2023 and continue testing and adjusting to improve plant performance through the action plan. Despite several incidental plant shutdowns during March to May, the plant is expected to reach its near or full production level by June 2023, within the planned ramp up period of three to six months. To date, the flotation plant has produced approximately 3,450 dry metric tonnes (“DMT”) of concentrate with an average gold grade of 36.20 g/t, containing 4,015 troy ounces of gold. Several export permits have been recently granted by the relevant authority and concentrate shipments are currently in progress.” Flotation Plant Production Ramp-up The ramp-up of the flotation plant continued, with the mill feed rate of 113 dry tonnes per hour achieved, being 95% of the design capacity of 119 dry tonnes per hour. During this ramp-up process bottlenecks have been identified and the team has been working to correct them in order to ramp up to commercial production. The ramp-up period is expected to be completed in June 2023. Certain design deficiencies have been detected and revision of designs have been received to improve performance efficiencies including design of a new rougher flotation tailings hopper and associated pipework, structural and civils drawings and specifications for the new concentrate thickener overflow pumps. Pump suction and delivery lines will be upgraded as well as the power supply to the bigger motors required. None of the above works has material impact on our current flotation plant operations. The flotation plant experienced major shutdowns from early March to first week of May. The Metso-Outotec concentrate thickener rake drive gea...