Monument Announces Drill Results at Peranggih Gold Prospect in Malaysia
P a g e 1 | 9
November 26, 2021 News Release Release #25-2021
Monument Announces Drill Results at Peranggih Gold Prospect in Malaysia
Vancouver, B.C., November 26, 2021, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1)
("Monument" or the "Company") is pleased to announce drill results from the reverse circulation (“RC”)
drilling program at South and Central area s of the Peranggih Gold Prospect (“Peranggih”), located
approximately 10km north of Selinsing Gold Mine.
The RC drilling program was carried out from March to July 2021 . The main objective of this program is
to delineate shallow mineralization approximately 50m below the surface that can be potentially
developed and quickly mined t o feed the existing oxide plant at the Selinsing Gold Mine should the
assay and block model results be satisfactory (Figure 1).
Figure 1: Peranggih Location Map showing interpreted mineralization
P a g e 2 | 9
Significant Intercept Results
PGRC076: 5m at 6.88 g/t Au from 10m including 3m at 11.06 g/t Au from 11m
PGRC077: 14m at 1.50 g/t Au from 16m including 4m at 4.30 g/t Au from 19m
PGRC089: 13m at 1.39 g/t Au from 11m including 2m at 5.30 g/t Au from 11m
PGRC102: 9m at 1.52 g/t Au from 29m including 1m at 10.21 g/t Au from 36m
PGRC113: 21m at 1.24 g/t Au from 21m including 7m at 2.58 g/t Au from 21m
PGRC117: 10m at 1.56 g/t Au from 8m including 5m at 2.61 g/t Au from 10m
See details in Appendix 1-Summary of Drill Results (0.35 g/t cut-off grade)
2021 RC Drilling Program
The RC drilling program consisted of 68 RC holes for 3,317m , to a maximum depth of 70m for 3 holes
(Figure 2). 3,901 samples were assayed at the onsite laboratory at Selinsing Gold Mine (the “Lab”). The
final assay results were received on August 15th 2021. The drill program confirmed the extension of
significant mineralization down-dip of the previously explored area by shallow percussion rotary air blast
(“RAB”) drilling along the North-West striking shear structure.
Overall, 70% of the design ed holes hit gold mineralization above an oxide cut-off (>0.35 g/t Au Au) at
relatively shallow depth, 50m below the surface. The results defined wider lower grade mineralization
over an 830m long by 60m wide zone (Figure 2).
The 2021 RC drilling was conducted in two phases to optimize each phase, improving the potential to hit
the targeted mineralization.
Phase 1 drilling was carried out from March to April 2021 at 20m by 20m nominal spacing and the
average depth of 48m, involving 34 drill holes for a total 1,697m. Phase 1 drilling targeted high and low
grade shallow mineralization extension at South and Central Peranggih , intercepted during the RC and
diamond drilling campaign from February to May 2018 (21 DD holes for 1,015m and 34 RC holes for
1,710m). This target coincides with the eluvial and colluvi al material located on the surface down to
approximately 15m. Most of the holes were drilled at 600 dip oriented toward west.
Phase 2 drilling was initiated in May 2021 and completed in July 2021 after receiving encouraging assay
results from Phase 1, targeting the strike extension of the mineralization at Peranggih South and Central
intercepted in the phase 1 drilling. The program involved 34 RC holes for a total 1,620m and the average
depth of 48m. The drilling azimuth, hole orientation, average depth, and spacing were similar to the
Phase 1 program. Two reconnaissance holes were drilled at the southern part of Peranggih North to test
an anomalous area.
P a g e 3 | 9
Figure 2: Drill hole locations and geological map of Peranggih
P a g e 4 | 9
QA/QC
The Company implements a thorough internal Quality Assurance/Quality Control (“QA/QC”) protocol on
all aspects of sampling and analytical procedure. Rock chips are monitored, collected, marked for
sampling, and logged. Certified Reference Material ‘CRM”, duplicates, and blank samples are inserted
based on industry standard practice. The sam ples were assayed internally at Selinsing laboratory using
fire assays with Atomic Absorption Spectrometer (“AAS”) finish.
All blanks reported Au value below the recommended value, indicating low-risk contamination at the
laboratory. All CRM’s assay values fall within the three standard deviation range. These indicate that all
CRMs are performing well, and the result from the lab is considered reliable. Duplicate samples show
good repeatability, potentially indicating that low cross-contamination takes place in the Lab.
Peranggih Geology and Mineralization
The Peranggih mineralization is structurally controlled by the 40-50m wide North-West shear zone. The
completed drilling program outlined the exten t of the footwall and hanging wall of the minerali zed
structure. The presence of quartz breccia, tuff breccia , and sheared country rock of argillaceous
sediment, tuff and black shale indicate s the nature of deformational even t responsible for gold
deposition at Peranggih. The steeply dipping high-grade (above 1.5 g/t) mineralized structure cuts across
the low-grade mineralization at a higher angle and locally occurs at Peranggih South and Central. The
spatial location of the high-grade mineralization is shown in the North-South (“N-S”) long section (Figure
3). The low and hig h grade structures are still open along the strike and down dip . An additional RC
drilling program is planned to vector the 560 m extension of the mineralized zone along strike and down
plunge and dip of the known orebody.
The Peranggih mineralization is commonly associated with matrix -supported quartz breccia. The bulk of
the mineralization occurs in a highly oxidi zed setting, as Peranggih is hosted in a deep weathering
environment. The lithologies generally experience moderate argillic and silicification alteration. The
structural framework suggests that the mineralized auriferous breccia is emplaced within the shear
system with a steep to moderate dip towards the east.
P a g e 5 | 9
Figure 3: The N-S long section of Peranggih shows the high-grade interception
from the RC drilling program
Previous Rotary Air Blast ‘RAB’ Drilling and Follow Up Mining Work
Since January 2020, Monument has actively undertaken 86,870m of RAB drilling at Peranggih and
intermittently mined and produced a total of 3,610 oz Au as of October 31st, 2021 . The shallow RAB
drilling at a nominal spacing of 3m x 3m or 5m x 5m with a maximum 20m depth targeted shallow gold
occurrences associated with eluvial and colluvium material that exists above the mineralized structure.
As a result of the 2021 RC drilling, an internal block model w as produced, and an internal shallow pit
shell down to 40m below the surface level w as optimized. A total of 55kt of mineralized material was
mined and fed to the mill in Q1 2022. Oxide mining and p roduction from Peranggih are expected to
increase in the upcoming months.
Peranggih is a fully permitted site having a ten year’s mining lease expiring March 14, 2029.
The scientific and technical information in this press release has been prepared by Adrian
Woolford, B.Sc.(Hons) Chief Geologist of Monument Mining Limited; reviewed and approved by
Roger Stangler, MEng, FAusIMM, MAIG, a Qualified Person as defined by NI43 -101, retained by
Golder Associates Pty Ltd.
P a g e 6 | 9
About Monument
Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that owns
and operates the Selins ing Gold Mine in Malaysia. Its experienced management team is committed to
growth and is also advancing the Murchison Gold Project s comprising Burnakura, Gabanintha and
Tuckanarra (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
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statement
This news release includes statements containing forward -looking information about Monument, its business and future plans
("forward-looking statements"). Forward -looking statements are statements that involve expectations, plans, objectives or
future events that are not historical facts and include the Company's plans with respect to its mineral projects and the timi ng
and results of proposed programs and events referred to in this news release. Generally, forward -looking information can be
identified by the use of forward -looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that
could cause actual results or achievements to differ materially from those expressed or implied by the forward -looking
statements. These risks and certain other factors include, without l imitation: risks related to general business, economic,
competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities;
uncertainties in the progress and timing of development activities; foreign o perations risks; other risks inherent in the mining
industry and other risks described in the management discussion and analysis of the Company and the technical reports on the
Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors
and assumptions used to develop forward -looking statements in this news release include: expectations regarding the
estimated cash cost per ounce of gold production and the estimated cash flows which may be ge nerated from the operations,
general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations
regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals;
the timing and amount of estimated future production; the expected timing and results of development and exploration
activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing
issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the
Company and the technical reports on the Company's projects, all of which are available under the profile of the Company o n
SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results
to differ materially from those contained in forward -looking statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward -looking statements. The Company does not undertake to update any forward -looking
statements, except in accordance with applicable securities laws.
P a g e 7 | 9
Appendix 1-Summary of Drill Results (0.35 g/t cut-off grade):
Hole ID Easting Northing RL Azimuth Dip EOH
(m)
Depth
from
(m)
Depth
to (m)
Length
(m)
Au grade
(g/t Au)
PGRC052 423186 479857 113 270 -60 70 19 23 4 0.41
PGRC053 423154 479859 114 270 -60 57 24 32 8 1.08
and - - - - - - 44 51 7 0.35
PGRC054 423128 479858 118 270 -60 50 7 10 3 0.55
and - - - - - - 14 24 10 0.61
PGRC055 423127 479874 115 270 -60 50 1 15 14 0.58
including - - - - - - 10 12 2 1.71
and - - - - - - 18 37 19 0.86
including - - - - - - 26 30 4 2.10
PGRC057 423143 479872 114 270 -59 50 35 48 13 0.47
PGRC058 423183 479839 115 274 -61 50 2 11 9 0.41
and - - - - - - 27 41 14 0.54
including - - - - - - 35 36 1 1.29
PGRC061 423009 480261 110 270 -59 50 31 38 7 0.52
PGRC063 422994 480247 112 269 -59 40 18 26 8 0.68
including - - - - - - 21 23 2 1.23
PGRC067 423032 480304 109 269 -59 60 15 19 4 0.55
PGRC068 422983 480325 103 271 -60 40 16 24 8 0.60
PGRC070 423072 479987 117 271 -60 50 14 19 5 0.71
including - - - - - - 15 16 1 2.21
PGRC072 423072 479969 111 273 -60 50 0 6 6 0.43
PGRC073 423098 480007 114 270 -61 60 39 49 10 0.50
including - - - - - - 42 43 1 1.90
PGRC074 423145 479896 110 271 -59 50 22 27 5 0.60
and - - - - - - 32 35 3 0.38
and - - - - - - 38 50 12 0.79
including - - - - - - 42 43 1 1.32
PGRC075 423130 479896 110 269 -59 50 7 17 10 0.41
and - - - - - - 24 30 6 0.54
and - - - - - - 44 49 5 0.56
PGRC076 423106 479981 106 274 -59 60 10 15 5 6.88
including - - - - - - 11 14 3 11.06
and - - - - - - 48 51 3 0.65
PGRC077 423089 479967 106 277 -60 50 16 30 14 1.50
including - - - - - - 19 23 4 4.30
PGRC078 423098 479970 106 269 -60 60 18 38 20 0.86
including - - - - - - 20 27 7 1.62
PGRC079 423128 479921 110 272 -60 50 0 14 14 0.38
P a g e 8 | 9
Hole ID Easting Northing RL Azimuth Dip EOH
(m)
Depth
from
(m)
Depth
to (m)
Length
(m)
Au grade
(g/t Au)
PGRC080 423113 479921 110 266 -61 50 9 23 14 0.48
PGRC081 423143 479921 110 271 -61 50 2 12 10 0.48
PGRC082 423117 479909 110 271 -59 50 9 14 5 0.64
including - - - - - - 13 14 1 1.68
PGRC083 423116 479857 118 270 -59 30 0 20 20 0.77
PGRC085 422915 480560 107 268 -61 50 18 21 3 0.66
PGRC086 423039 480382 99 270 -60 50 1 12 11 0.68
including - - - - - - 2 7 5 1.09
PGRC087 423052 480096 110 275 -61 50 14 19 5 0.93
including - - - - - - 15 17 2 1.61
and - - - - - - 22 27 5 0.38
PGRC088 423065 480111 110 267 -60 30 7 12 5 0.72
and - - - - - - 22 30 8 0.83
including - - - - - - 27 29 2 1.91
PGRC089 423095 480112 110 271 -59 40 11 24 13 1.39
including - - - - - - 11 13 2 5.30
and - - - - - - 29 39 10 0.47
PGRC091 423069 480141 109 269 -61 40 30 33 3 0.93
PGRC092 423072 480090 110 259 -59 50 17 30 13 0.62
including - - - - - - 17 19 2 1.14
and - - - - - - 39 44 5 0.62
PGRC093 423071 480072 110 271 -61 50 37 42 5 2.01
including - - - - - - 40 42 2 4.72
PGRC095 423109 479948 110 270 60 70 34 47 13 0.57
including - - - - - - 34 38 4 1.00
PGRC096 423175 479814 128 270 60 50 12 26 14 0.44
including - - - - - - 20 21 1 1.19
PGRC098 423085 480020 108 269 -61 60 4 17 13 0.41
and - - - - - - 34 39 5 0.42
PGRC099 423076 480047 108 271 -61 50 9 16 7 1.00
including - - - - - - 11 13 2 2.10
and - - - - - - 20 25 5 0.37
PGRC100 423196 479838 117 269 -61 70 45 52 7 0.62
and - - - - - - 63 69 6 0.40
PGRC101 423194 479823 120 273 -60 50 3 7 4 0.39
and - - - - - - 22 32 10 0.38
and - - - - - - 35 42 7 0.43
PGRC102 423095 480096 108 271 -59 50 13 24 11 0.41
and - - - - - - 29 38 9 1.52