Business
Monument Updates Development Plans for Mengapur Polymetallic Project
VANCOUVER , Nov. 28, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("M...
About this update from Monument Mining Limited
[{"type":"text","content":"\n\n\nVANCOUVER, Nov. 28, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY and\n FSE: D7Q1) (\"Monument\" or the \"Company\") today provided an update on\n its development plan for its Mengapur Polymetallic Project, including\n its operational priorities for 2014. The initial focus will be on the\n production of market grade magnetite from fresh rock that underlies the\n free digging soils to generate cash flow; the Research and Development\n (\"R&D\") and market research of other downstream potential commodity\n products and completion of a National Instrument (NI) 43-101 compliant\n Preliminary Economic Assessment (\"PEA\").\n\n\nPEA Study and R&D Program\n\n\nIn fiscal 2013 Monument has completed a drill program at Mengapur with a\n total of 50,045 metres drilled. The new drill data has been combined\n with the existing 58,000 metres drilled by Malaysia Mining Corporation\n (the former owner) into a new project database. In 2014 while Monument\n plans to proceed with mining initiatives that it expects will optimize\n and advance the process flow sheet for the Mengapur deposit, the\n Company continues its work in order to provide a resource estimate for\n the Mengapur Project as a whole through mine modeling and other related\n work based on the fiscal 2013's exploration results. The PEA study is\n expected to be completed by March 31, 2014.  While completion of this\n complex PEA report has taken longer than initially estimated, it will\n be a major achievement and provide a significant update to the historic\n feasibility study completed by the project's former owners.\n\n\nMonument has completed a number of onsite infrastructure projects,\n including improved and expanded employee accommodation, R&D and assay\n laboratories and a new expanded core shed to assist in achieving these\n and other objectives.\n\n\nSpecifically, Monument will undertake R&D activities related to the\n development of a number of marketable commodity products subsequent to\n the targeted recovery of magnetite that the Company believes can be\n separated for production to London Metals Exchange (\"LME\") grade,\n particularly copper separated from the other metals mined at Mengapur.\n These products generally will allow production of further magnetite, as\n well as production of sulfuric acid, molybdenum and different types of\n ...