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Monument Mining Ltd.
Summary
| Project: | Selinsing | |
|---|---|---|
| Deposit: | Selinsing, Buffalo Reef | |
| Location: | Malaysia | |
| Commodities: | Gold | |
| Date: | 11/9/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 9-11-2016: Monument Mining Ltd. announces a Pre-Feasibility Study report for its Selinsing, Buffalo Reef deposit at the Selinsing project. PFS results incl. NPV (8%) of $23.1M, IRR of 34.8%. Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q | |
| Resources: | (Reserve, Prob.): 3.882Mt @ 1.88g/t Au for 235.4Koz Au contained (in-situ) | |
| CP/QP: | [Resources]: John Graindorge (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to announce Proven and Probable Mineral Reserves at its 100% owned Selinsing operating gold mine, including the adjacent Buffalo Reef deposit in Pahang State, Malaysia. All Mineral Reserves and Mineral Resources were estimated by Snowden Mining Industry Consultants Pty Ltd (“Snowden”) as Independent qualified person defined under NI 43-101 standards. The complete NI 43-101 Technical Report as a result of the Pre-Feasibility Study is expected to be filed shortly under www.sedar.com. The President and CEO Robert Baldock commented, “We are excited to see that the new NI 43-101 Mineral Reserve allows Selinsing Gold Mine to operate with sustainable production for years to come. The Company has adopted the bio-leaching approach as its economic baseline for the sulphide gold production while continuing its Intec test works. We expect the economics to be further optimized by the potential of Intec technology and other alternatives with large sulphide exploration potential”. The Mineral Reserves were estimated at June 30, 2016, and comprise 235 koz of gold from 3,882 kilotonnes (kt) of ore at a diluted grade of 1.88 grams of gold per tonne (g/t) from the Selinsing and Buffalo Reef/Felda deposits, along with a further 44 koz of gold from 2,335 kt of ore from stockpiles at a grade of 0.59 g/t Au. The total Mineral Reserve is 279 koz of gold from 6,217 kt of ore at a grade of 1.40 g/t Au. The Probable Mineral Reserves are within newly estimated Indicated Resources of 200 koz of gold from 3,220 kt of material at a grade of 1.93 g/t Au at the Selinsing deposit, and 240 koz of gold from 4,330 kt of material at a grade of 1.73 g/t Au at the Buffalo Reef/Felda deposit. Indicated Mineral Resources are inclusive of Probable Mineral Reserves. The Proven Mineral Reserves comprise entirely Measured Mineral Resources from stockpiles of 44 koz of gold from 2,335 kt at a grade of 0.59 g/t Au. | |
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