Business
Monument Q1 Project Development Update
Monument Q1 Project Development Update.
About this update from Monument Mining Limited
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n\n\nUNITED STATES/\n\n\nVANCOUVER, Oct. 25 /CNW/ - Monument Mining Limited (TSX-V:MMY and\nFSE:D7Q1) ("Monument" or the "Company") is pleased to announce that it has\ncommenced preliminary work on the development of its Selinsing Gold Mine\nproject, following the recent closing of its major transaction, project\nacquisition and closing of a $10,000,000 private placement on June 25, 2007.\n\n\nMonument acquired both the Selinsing Gold Mine project (the "Selinsing\nproject") and the Damar Buffalo Reef ("Damar") exploration project through its\n100% owned Malaysian subsidiary Polar Potential Sdn Bhd ("Polar"). Polar has\nincorporated 100% owned Selinsing Gold Mine Manager Sdn Bhd (the "Manager") to\nact as the project manager. The Manager has engaged Mike Kitney, an\nexperienced mining professional and member of the Australian Institute of\nMining and Metallurgy ("AusIMM") as adviser to the manager and John Barton,\nAusIMM, a senior mining engineer, as the project engineer, both of whom are\nexperienced in project development of this type, to assist in overseeing the\ndevelopment and subsequent management and operation of the Selinsing Gold Mine\nproject on behalf of the Manager.\n\n\nProgress Toward Feasibility And A Production Decision.\n\n\n------------------------------------------------------\n\n\nThe Selinsing Gold Mine project has had a historic pre-feasibility study\ncompleted by independent Dover Consultants Pty Ltd of Perth Western Australia.\nThis positive study recommended taking the project forward to the next stage\nat a gold price of US$280 per ounce. Since then the Company commissioned a\nthree part NI-43-101 Preliminary Assessment by Snowden International Mining\nConsultants Pty Ltd ("Snowden") which was completed during 2006 and 2007 and\nfiled on SEDAR 5th March 2007. This three-phase study was in part, designed to\nundertake an RC confirmation drilling program to confirm the resource\nestimate, establish a commercially viable treatment circuit, undertake\npreliminary pit design and estimate operating and capital costs. The Study and\nthe confirmation drilling program and other work undertaken and reported in\nthe study confirmed the viability of the pro...