Monument Announces Completion of Upscaled Phase 1 Drilling in the Field at the Murchison Gold Project
September 20, 2021 News Release Release #21 - 2021
Monument Announces Completion of Upscaled Phase 1 Drilling
in the Field at the Murchison Gold Project
Vancouver, B.C., September 20, 2021, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) “Monument” or the
“Company” is pleased to announce the successful completion of an upscaled Phase 1 18,000 metre air core (“AC”) and reverse
circulation (“RC”) drill program at its Murchison Gold Project in Western Australia.
Highlights
• Completion of 46 RC holes for 3,465 metres targeting the Munro Bore Extension target as well as the FLC2 and
FLC3 prospects, within the Burnakura Project Area . Hole depths ranged from 40 to 160 metres and were located
outside of the current resource areas.
• A total of 349 AC holes were completed for 10,484 metres focus ing on high quality structural targets defined from
geophysical surveys in areas of shallow cover.
• The Munro Bore mineralized structure has an extension into Monument’s tenement (“Munro Bore Extension”).
• Geological mapping and interpretation of the completed drilling is in progress, and subject to results obtained, follow
up drill programs will be planned.
• All of the samples generated from the drilling have been delivered to ALS Geochemistry, Perth, and results are
expected to be received between October and November 2021.
• A drill program consisting of over 5,500 metres of combined RC and diamond drilling (“DD”) targeting beneath
open pits along the high -grade North of Alliance (“NOA”) structure is at an advanced planning stage and selection
of a drill contractor is in progress.
Monument commenced its Phase 1 AC and RC drill program on July 3rd 2021 (as announced on July 20th 2021) and completed
it by August 21st 2021 (Figure 1).
This first phase of drilling was designed to test new high quality structural targets beneath c over for potential mineralization
that may lead to the identification of shallow stand alone or satellite gold deposits to supplement the current resource base. In
addition, the drilling tested the strike continuation at Munro Bore Extension that is adjacent to Munro Bore (not owned by
Monument). Munro Bore has estimated historical resources of 266,000t at 1.6g/t Au (reported in “ Technical Project Review
and Independent Valuation Report (Short Form) ” prepared by Giralia Resources NL and reviewed by Ravensgate Mining
Industry Consultants in January 2011).
A total of 46 RC holes for 3,465m were completed against a plan of 12 holes for 1,260m, comprised of 1,301m for the planned
Munro Bore Extension and additional 2,164m for the FLC2 and FLC3 prospects that was originally planned in the phase two.
It was brought forward to take advantage of increased drill rig availability.
A total of 349 AC holes were completed for 10,484m at the Authaal East, Burnakura South and Junction targets against a plan
of 430 AC holes for 16,680m at Munro Bore Extension, Banderol South and Junction . The targets were tested as planned
except the eastern line of the Junction target was not drilled due to steep terrain. The depth to blade refusal was generally less
than anticipated resulting in fewer metres drilled than originally planned. Drill holes were angled at 60 degrees and generally
spaced at 25m with lines spaced at between 400m to 950m.
Figure 1: Completed drill collars from the Burnakura project Phase 1 drill program
Drill holes generally intersected lithology consistent with available mapping and included volcanic and Banded Iron
Formation (“ BIF”) sequences which are the same litholo gies that host the Alliance Mineral R esource. In addition, the
continuation of the Munro Bore mineralization could be identified by a zone of shearing, alteration, pyrite mineralization and
quartz veining.
All samples have been dispatched from site and have been received by ALS Geochemistry, Perth. Due to the backlog for gold
assays and multi-element geochemical results which the mining industry is currently experiencing, results aren’t expected to
be received until October through to the end of November. Higher priority samples have been pri oritized with the lab.
Geological interpretation of the completed Phase 1 drilling is ongoing and follow up mapping and sampling of some of the
drill lines will be planned. Interpretations will be reviewed and refined once assays are received to improve un derstanding of
the geological controls of the mineralized zones and guide phase 2 drilling program on Burnakura, which will be announced
accordingly.
A full review of all historical maps and reports is planned to be completed for the Gabanintha project. A n initial review
indicated there is a substantial amount of information that needs to be collated before regional exploration programs can be
designed. Additional pit mapping and a structural interpretation of the main Gabanintha pit area will also be comp leted to
assist in drill hole targeting underneath the existing pits.
Munro Bore Extension Target
A total of 12 holes for 1,301m of RC were drilled at the Munro Bore Extension target (Figure 2). Three lines of drilling were
completed with holes spaced between 40m and 50m to extend the tested mineralised strike length 160m, into Monument ’s
M51/178 tenement. Holes were drilled to depths from 60m to 160m.
An historical Mineral Resource at Munro Bore was reported by Giralia Resources in 2010, estimated to be 266,000t at 1.6g/t
Au. The drilling confirmed the strike continuation of this structure at a south -west orientation directly into Monument’s
M51/178 tenement. No significant drilling or evaluation of this structure within M51/178 has been previously completed.
The drilled structure is dipping to the north -east and is over 20m wide, defined by shearing , alteration, pyrite mineralization
and quartz veining. There is no indication whether economic mineralization continues along this structure into Monument’s
tenement at this stage.
Figure 2: Satellite image with the Munro Bore trend shown and location of completed RC holes
FLC2 and FLC3 Prospects
The FLC2 and FLC3 targets were added to the Phase 1 drill program to take advantage of increased drill rig availability. A
total of 31 holes for 1,882m were completed at the FLC2 prospect (Figure 3) and 4 holes for 282m were completed at the
FLC3 prospect (Figure 4). Holes were drilled to depths between 40m and 95m.
The FLC2 target is located approximately 400m to the south of the Banderol pit and appears to be associated with the
southward continuation of the same structural contact that hosts the minera lization within the pit. The Banderol pit produced
an estimated 28 koz ounces of gold at 2.9g/t pre-2005 (“Updated Mineral Resource, Burnakura Project, Western Australia,
Australia NI 43-101 Technical Report” prepared by SRK, July 2018, or “July 2018 NI43-101 Technical Report”).
In addition to this main north-south trending structure, there appears to be structures orientated in a north -easterly direction,
which were also targeted by this drill program.
The FLC2 target has been previously tested with fences of RAB drilling and several shallow RC holes that identified
numerous areas of low-grade gold mineralization as well as some higher grade zones with best intersections of 10m at 3.4g/t
from hole FCPH1635 and 3m at 5.0g/t from FCPH1871. This drill program has tested beneath the higher grade intersections
into fresh rock, and will increase the understanding of the main controls on mineralization. The mineralization generally
appears to be associated with mafic and ultramafic contacts.
Figure 3: Aeromagnetic image showing the main mineralized trends
and completed drill hole collars at the FLC2 prospect
The FLC3 prospect is located approximately 1km to the south of the Federal City deposit and is interpreted to occur on the
southward continuation of the same structure that hosts th e mineralization there. The Federal City pit produced an estimated
1.2koz at 1.3g/t pre-2005 (July 2018 NI43 -101 Technical Report). The FLC3 prospect contains several shallo w high-grade
gold intercepts that include 10m at 10.9g/t from FCPH1526. The prospect has been previously tested with multiple lines of
RAB drilling and several shallow follow up RC holes that have not been further tested at depth . The mineralization appears
to be trending in a north -south orientation which is subparallel to litho logy and magnetic highs. The lithology consists of
ultramafic and mafics.
Figure 4: Aeromagnetic image showing the main mineralized trend and
completed drill hole collars at the FLC3 prospect
The four RC holes that were drilled were designed to test for mineralisation along strike and at depth and to confirm the
orientation of the high -grade mineralisation. The holes intersected an ultramafic sequence containing a narrow interval of
basalt that has increased deformation and alteration at some of its contacts, which may indicate the mineralization is focused
along lithological contacts.
A full listing of historical drill hole details showing intersections above 1 g/t gold for FLC2 and FLC3 and accompanying
drill collar plans are shown in Appendix 1.
Authaal East, Banderol South and Junction Targets
The Authaal East, Banderol South and Junction Targets had not been previously drilled and are high quality structural targets
defined from geophysical surveys, in areas of shallow cover.
A total of 30 holes for 1,172m were completed at the Authaal East target which is located approximately 500m to the east of
the Authaal pits (Figure 5). The Authaal pit has produced an estimated 13koz of gold at 5.7g/t and the Authaal North pit has
produced an estimated 7.1koz at 2.9g/t pre-2005 (July 2018 NI43-101 Technical Report). This drill target was added to the
drill plan after the July 20th 2021 press release.
The Authaal East target
The Authaal East target is located at the northern end of a north-south trending magnetic feature adjacent the Burnakura Shear
Zone (“BSZ”). Deposits including Banderol and Federal City are located on north-south trending magnetic features that have
been interpreted to be dilational subsidiary structures to the BSZ. There is also an existing line of drilling 320m t o the north-
east of the completed drilling that have 4 holes ending in assay values greater than 0.1 g/t.
Figure 5: Aeromagnetic image showing the Burnakura Shear Zone and subsidiary structures
and completed drill hole collars at the Authaal East target area.
Banderol South and Junction Targets
A total of 127 AC holes for 3,465m of drilling were completed at the Banderol South target. A reinterpretation of the detailed
aeromagnetic data identified a secondary north -south structural splay deviating off the regional north -east BSZ. The
orientation of this splay coincides with the structural orientation of mineralized quartz veins within the Banderol open pit and
is interpreted to be a continuation of the same structure.
A sequence dominated by felsic volcanics was intersected with minor granodiorite, mafics and ultramafics. Transported cover
was generally shallow and less than 1m thick.
A total of 192 holes for 5 ,847m of AC drilling were completed at the Junction target. The Junction target occurs at the
intersection of a known mineralized north -east structural zone with a north -south structure, where an east -west trending
magnetic high is observed. As the greenstone lithologies approach the east-west trending magnetic high to the south and
approach two granodiorite bodies, they are interpreted to be dragged and deformed potentially creating extensional dilatational
zones within the favorable host lithologies.
The drilling at the Junction target intercepted narrow intervals of amphibolite, mafic, ultramafic and possible BIF horizons
that are generally less than 100m wide, within a weak to moderately strained granite. Alluvial material covered the whole
target area to an average depth of 8m, providing potential to discover hidden mineralization.
The eastern most planned line was not drilled due to steep topography that would make drill rig access difficult. This area
will be further investigated and could potentially be tested by a soil samp ling program.
Quality Assurance/Quality Control
All drilling completed by Monument utilized the following procedures and methodologies and was carried out under the
supervision of Monument personnel. The drilling was carried out by Strike Drilling Pty Ltd under the supervision of
Monument’s personnel.
RC drilling used a 5.0-inch face sampling pneumatic hammer with samples collected into 60 litre plastic bags. Samples were
collected as 1m splits from the cyclone or as 4m composites from the 60 litre pla stic bags. Samples were kept dry by
maintaining enough air pressure to exclude groundwater inflow; however, a very small number of RC samples from this drill
program were moist or wet.
AC drilling used a 4.0 -inch blade and cuttings were collected in one m etre intervals and split between a calico bag and a
portion was placed onto the ground for spear sampling 4m composites. The 1m calico samples have been stored at the drill
site until assay results are received and validated. Composites returning greater t han 0.1g/t Au will be subsampled using the
1m calico bags.
Coarse reject samples for all mineralized samples corresponding to significant Au intervals will be retained and stored on-site
at the Company controlled core yard.
All drill samples were shipped to ALS Geochemistry laboratory in Wangara, WA for preparation. Sample analysis may take
place at some of ALS’s analysis lab oratories outside of Western Australia. All samples will undergo routine gold analysis
using a 50 -gram charge and fire assay with an atomic absorption finish. Selected samples will be dissolved by a four acid
digestion and then analyzed for a suite of 33 elements using an ICP-AES finish.
Quality control procedures included the systematic insertion of blanks (1 in 50 samples), duplicates (1 in 40 samples) and
sample standards (1 in 20 samples) into the sample stream at the drill site.
The scientific and technical information in this press release has been assembled by Adrian Woodfield, Chief Geologist of
the Company, reviewed and approved by Roger Stangler, MEng, FAusIMM, MAIG, a Qualified Person as defined by NI43-
101, retained by Golder Associates Pty Ltd.
Background of Murchison Gold Project
Monument Mining Limited holds a 100% interest in the Murchison Gold Project comprising 170km2 of highly prospective
Archean Greenstone terrane located approximately 750km north of Perth and 40km southeast of Meekatharra in Western
Australia (Figure 1). The project area covers the eastern margin of the Meekatharra-Wydgee greenstone belt within the north-
eastern Murchison domain. Historically the Murchison Goldfield has yielded over 15 million ounces of gold since the 1900’s
and is still a significant producer from operating mines within the field including the Westgold Resources operations located
less than 10km to the west. and is still a significant producer from operating mines within the field including the Westgold
Resources operations located less than 10km to the west.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the
Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is also advancing the
Murchison Gold Projects com prising Burnakura, Gabanintha and Tuckanarra JV (20% interest) in the Murchison area of
Western Australia. The Company employs approximately 200 people in both regions and is committed to the highest standards
of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6