Monument Announces Encouraging Results from Recent Drilling at New Gold Field Peranggih Project
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November 28, 2017 News Release Release #15 - 2017
Monument Announces Encouraging Results from Recent Drilling at New Gold Field Peranggih Project
Vancouver, B.C., November 28, 2017, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument”
or the “Company ” is pleased to report significant results from its recent ly completed drilling program at the
Peranggih Gold Prospect, located approximately 10 km N orth of the Selinsing Gold Mine ( Figure 1). A close
spaced 5m x 5m Rotary Air Blast (RAB ) drilling program together with previous exploration has successfully
delineated a zone of higher grade gold material , indicating that the mineralization occurs in the same regional
shearing structure hosting Selinsing and Buffalo Reef deposits.
Highlights of Significant Intercepts
The recent 2017 close spaced RAB drilling program
was carried out at an historic mining site to test 150m
strike length x 80m width of the mineralization. This
allowed the accurate identification of several high
grade gold (HG) zones surrounded by a ma in low
grade (LG) halo. The significant drill intersections
(Au >2.0 g/t & >5m length) within a more consistent
high grade gold area are presented in Table 1.The full
set of drill results for the holes intercepting this HG
gold mineralization occurrence ar e listed in
Appendix A and Appendix B.
The Peranggih Prospect has been identified as a new
Gold Field that has the potential to host a significant
mineralized hydrothermal breccia system.
Figure 1 – Local Geology of the Peranggih Area
MONUMENT MINING LIMITED News Release November 28, 2017
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Table 1: Highlight of the best intercepts at Peranggih – Close Spaced RAB Drilling in 2017
HOLE ID* From(m) To (m) Drilled Width (m) ~True Width (m) Au g/t
1_PGC006 2 8 6.0 4.3 3.07
1_PGC007 0 10 10.0 6.7 2.94
1_PGC019 0 10 10.0 7.7 2.28
1_PGC020 0 5 5.0 3.9 2.68
1_PGC428 1 10 9.0 6.6 3.14
1_PGC429 1 10 9.0 8.0 2.34
1_PGC430 0 10 10.0 8.7 2.49
*all vertical holes
The low and high grade gold mineralization is hosted in both matrix supported and clast supported quartz breccia.
Significant coarse free gold was observed hosted in the breccia matrix. The matrix is friable and loose material
composing clay minerals and small rock fragments, as well as mixed ore and/or gangue minerals (Figure 2).
Figure 2 – Exposure of highly fractured quartz
breccia on the old pit wall
This leads to a nugget effect on the gold distribution
throughout the deposit. The presence of well
crystallized coarse free disseminated gold in the
matrixes was not well recognized during the earlier
exploration campaigns . This key finding had
changed the perspective and approach facilitate
better and more appropriate sam pling and analysis
methods to be applied to future exploration programs
which include comparative work between traditional
fire assay, screen fire assay as well as reconciliation
of grade by way of bulk sampling.
The close space d shallow drilling can be used as a
cost effective tool to define shallow and broad gold
mineralization within the breccia matrix that occur at
this site
Peranggih
Peranggih was historically mined in the late 1980’s and into the early 1990’s by local artisanal miners. Gold was
recovered by traditional sluicing and residual tailings and other evidence indicat es substantial work was
undertaken throughout this period.
MONUMENT MINING LIMITED News Release November 28, 2017
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In 2014 the company conducted exploration drilling with encouraging results, followed by soil sampling, trenching
and other reconnaissance mapping to understand the extent and boundaries of the system at Peranggih. The recent
work determined that the gold mineralization is associated with a hydrothermal breccia system which is distinct
from the hydrothermal veins system that occurs at Selinsing and Buffalo Reef, but still related to the same regional
shearing structuring.
Previous activities plus more rece nt exploration works, totaling 1,700m for 21 trenches, 2,900m of Diamond
Drilling (DD) and Reverse Circulation (RC) drilling for 35 drill holes, and 2,800m of close spaced RAB drilling
for approximately 300 drill holes (completed in 2017) have been used to outline an exploration target of 20,000 to
30,000 oz Au contained within 1 to 2 Mt @ 0.3 to 2.0 g/t Au. The potential tonnages and grades are conceptual in
nature and are based on historical and recent drill and trench results that defined the approximate length, thickness,
depth and grade of the portion of the internal resource estimate. There has been insufficient exploration to define
a current resource, and the Company cautions that there is a risk that further exploration will not completely result
in the delineation of a current mineral resource.
Sampling, assaying and cyanide leach test work to date shows that recoveries exceed 80% ranging up to 98%. The
system extends over a distance of approximately 1.2 kilometers in length with varying widths of between 25 to 50
meters with identified areas of high gold grade mineralization surrounded by a halo of lower grade mineralization.
The system is open down dip and along strike.
Follow up Exploration Programs
Further exploration work primarily aims to carry out resource definition drilling around an area selected for bulk
sample testwork. Regional exploration should also identify other target areas within the same Peranggih oxide
system, eventually adding oxide mill feed sources to the Company.
The Company plans to mine a bulk sample of up to 50,000 tonnes, feed it to the existing Selinsing oxide gold
processing plant to establish the average grade of the close spaced drilled area ; and test the metallurgical
performance at plant scale. This work can commence as soon as the access road has been prepared which is
estimated to be in the beginning of 2018.
Roger Stangler, Chief Managing Geologist of the Company, MEng, MAusIMM, MAIG, has prepared, reviewed,
supervised the preparation and approved the scientific and technical disclosure in this news release as a Qualified
Person under NI43-101 standards.
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
advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang
State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the
Murchison area of Western Australia . The Company employs approximately 190 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.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
MONUMENT MINING LIMITED News Release November 28, 2017
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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]
Wolfgang Seybold, Axino GmbH T: +49 711-82-09-7211 [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 timing 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 achiev ed". 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 limitation: 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 operations 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 avail able under the profile of
the Company on SEDAR at www.sedar.com. Material factors and assumptions used to devel op 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 generat ed 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 estimat ed future production; th e
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 on S EDAR at www.sedar.com.
Although the Company has attempted to identify i mportant 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.
MONUMENT MINING LIMITED News Release November 28, 2017
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Appendix A
- Peranggih Close Spaced RAB Drilling Campaign 2017: collar coordinates in Kertau MRSO Coordinate System
Hole ID End of Hole
Depth (m)
East North RL Dip Azimuth
1_PGC005 10 422963.2 480242.3 130.438 -90 0
1_PGC006 10 422967.8 480242.3 130.179 -90 0
1_PGC007 10 422973.1 480242.3 124.445 -90 0
1_PGC008 2 422978.2 480242.3 123.833 -90 0
1_PGC016 10 422955.7 480247.3 132.874 -90 0
1_PGC017 10 422960.5 480247.3 130.778 -90 0
1_PGC018 10 422965.6 480247.3 129.522 -90 0
1_PGC019 10 422971.3 480247.3 125.017 -90 0
1_PGC020 10 422975.6 480247.3 124.231 -90 0
1_PGC021 10 422980.7 480247.3 123.698 -90 0
1_PGC022 10 422985.6 480247.4 122.141 -90 0
1_PGC027 10 422948.2 480252.4 135.437 -90 0
1_PGC028 10 422953.1 480252.3 134.800 -90 0
1_PGC029 10 422958.3 480252.3 130.241 -90 0
1_PGC030 10 422963.2 480252.3 129.090 -90 0
1_PGC031 10 422968.2 480252.3 128.233 -90 0
1_PGC032 10 422973.2 480252.3 124.222 -90 0
1_PGC039 10 422950.6 480257.4 135.578 -90 0
1_PGC041 10 422960.6 480257.4 128.047 -90 0
1_PGC042 10 422965.7 480257.3 127.773 -90 0
1_PGC043 10 422970.6 480257.4 123.188 -90 0
1_PGC418 10 422972.5 480232.8 126.364 -90 0
1_PGC419 10 422977.5 480232.8 124.996 -90 0
1_PGC427 10 422965.0 480237.8 129.692 -90 0
1_PGC428 10 422969.9 480237.6 127.706 -90 0
1_PGC429 10 422975.0 480237.7 125.965 -90 0
1_PGC430 10 422980.0 480237.8 123.571 -90 0
1_PGC431 10 422985.0 480237.8 122.895 -90 0
MONUMENT MINING LIMITED News Release November 28, 2017
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Appendix B
- Assay Results for Peranggih Close Spaced RAB Drilling Campaign 2017
Hole ID From
(m)
To
(m) Au g/t
Hole ID From
(m)
To
(m)
Au
g/t Hole ID From
(m)
To
(m)
Au
g/t
1_PGC005 0 1 0.394 1_PGC017 4 5 0.303 1_PGC022 0 1 1.046
1_PGC005 1 2 1.203 1_PGC017 5 6 0.154 1_PGC022 1 2 0.269
1_PGC005 2 3 0.257 1_PGC017 6 7 0.122 1_PGC022 2 3 0.260
1_PGC005 3 4 1.438 1_PGC017 7 8 0.116 1_PGC022 3 4 0.173
1_PGC005 4 5 0.697 1_PGC017 8 9 0.108 1_PGC022 4 5 0.124
1_PGC005 5 6 0.460 1_PGC017 9 10 0.095 1_PGC022 5 6 0.279
1_PGC005 6 7 0.351 1_PGC018 0 1 0.738 1_PGC022 6 7 0.265
1_PGC005 7 8 0.089 1_PGC018 1 2 2.167 1_PGC022 7 8 0.199
1_PGC005 8 9 1.194 1_PGC018 2 3 1.709 1_PGC022 8 9 0.119
1_PGC005 9 10 2.935 1_PGC018 3 4 1.526 1_PGC022 9 10 0.097
1_PGC006 0 1 0.361 1_PGC018 4 5 2.502 1_PGC027 0 1 0.266
1_PGC006 1 2 0.385 1_PGC018 5 6 0.130 1_PGC027 1 2 1.006
1_PGC006 2 3 1.553 1_PGC018 6 7 1.681 1_PGC027 2 3 0.367
1_PGC006 3 4 2.640 1_PGC018 7 8 0.491 1_PGC027 3 4 0.355
1_PGC006 4 5 3.702 1_PGC018 8 9 0.037 1_PGC027 4 5 0.110
1_PGC006 5 6 2.744 1_PGC018 9 10 0.209 1_PGC027 5 6 5.651
1_PGC006 6 7 3.093 1_PGC019 0 1 2.037 1_PGC027 6 7 0.200
1_PGC006 7 8 4.687 1_PGC019 1 2 1.645 1_PGC027 7 8 0.100
1_PGC006 8 9 0.055 1_PGC019 2 3 1.131 1_PGC027 8 9 0.235
1_PGC006 9 10 0.101 1_PGC019 3 4 1.150 1_PGC027 9 10 0.250
1_PGC007 0 1 3.269 1_PGC019 4 5 1.008 1_PGC028 0 1 0.284
1_PGC007 1 2 11.440 1_PGC019 5 6 2.205 1_PGC028 1 2 0.252
1_PGC007 2 3 1.194 1_PGC019 6 7 3.410 1_PGC028 2 3 2.392
1_PGC007 3 4 1.299 1_PGC019 7 8 4.692 1_PGC028 3 4 0.640
1_PGC007 4 5 1.192 1_PGC019 8 9 3.210 1_PGC028 4 5 0.109
1_PGC007 5 6 1.952 1_PGC019 9 10 2.272 1_PGC028 5 6 0.297
1_PGC007 6 7 3.392 1_PGC020 0 1 7.756 1_PGC028 6 7 0.209
1_PGC007 7 8 2.340 1_PGC020 1 2 2.274 1_PGC028 7 8 0.215
1_PGC007 8 9 1.933 1_PGC020 2 3 1.623 1_PGC028 8 9 2.740
1_PGC007 9 10 1.387 1_PGC020 3 4 1.038 1_PGC028 9 10 1.645
1_PGC008 0 1 1.599 1_PGC020 4 5 0.711 1_PGC029 0 1 0.750
1_PGC008 1 2 3.483 1_PGC020 5 6 0.458 1_PGC029 1 2 0.574
1_PGC016 0 1 0.155 1_PGC020 6 7 0.421 1_PGC029 2 3 0.543
1_PGC016 1 2 0.105 1_PGC020 7 8 0.342 1_PGC029 3 4 0.260
1_PGC016 2 3 0.740 1_PGC020 8 9 0.783 1_PGC029 4 5 0.164
1_PGC016 3 4 0.118 1_PGC020 9 10 0.834 1_PGC029 5 6 0.220
1_PGC016 4 5 0.197 1_PGC021 0 1 1.646 1_PGC029 6 7 0.115
1_PGC016 5 6 0.286 1_PGC021 1 2 0.279 1_PGC029 7 8 0.074
1_PGC016 6 7 0.254 1_PGC021 2 3 1.166 1_PGC029 8 9 0.350
1_PGC016 7 8 0.133 1_PGC021 3 4 0.231 1_PGC029 9 10 0.253
1_PGC016 8 9 0.033 1_PGC021 4 5 0.308 1_PGC030 0 1 1.499
1_PGC016 9 10 0.094 1_PGC021 5 6 0.354 1_PGC030 1 2 0.797
1_PGC017 0 1 0.880 1_PGC021 6 7 0.987 1_PGC030 2 3 0.446
1_PGC017 1 2 0.815 1_PGC021 7 8 0.148 1_PGC030 3 4 0.507
1_PGC017 2 3 0.110 1_PGC021 8 9 1.202 1_PGC030 4 5 0.390
1_PGC017 3 4 0.441 1_PGC021 9 10 0.560 1_PGC030 5 6 0.640
MONUMENT MINING LIMITED News Release November 28, 2017
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Appendix B (continued)
Assay Results for Peranggih Close Spaced RAB Drilling Campaign 2017
Hole ID From
(m)
To
(m)
Au
g/t Hole ID From
(m)
To
(m)
Au
g/t Hole ID From
(m)
To
(m)
Au
g/t
1_PGC030 6 7 0.374 1_PGC042 2 3 0.934 1_PGC427 8 9 0.261
1_PGC030 7 8 0.087 1_PGC042 3 4 0.453 1_PGC427 9 10 0.426
1_PGC030 8 9 0.121 1_PGC042 4 5 0.811 1_PGC428 0 1 0.430
1_PGC030 9 10 0.068 1_PGC042 5 6 1.198 1_PGC428 1 2 1.030
1_PGC031 0 1 0.690 1_PGC042 6 7 1.008 1_PGC428 2 3 1.882
1_PGC031 1 2 0.839 1_PGC042 7 8 1.586 1_PGC428 3 4 4.973
1_PGC031 2 3 1.229 1_PGC042 8 9 3.205 1_PGC428 4 5 4.238
1_PGC031 3 4 1.295 1_PGC042 9 10 0.966 1_PGC428 5 6 9.180
1_PGC031 4 5 4.061 1_PGC043 0 1 0.545 1_PGC428 6 7 1.745
1_PGC031 5 6 0.192 1_PGC043 1 2 0.302 1_PGC428 7 8 1.620
1_PGC031 6 7 2.164 1_PGC043 2 3 0.361 1_PGC428 8 9 2.629
1_PGC031 7 8 4.235 1_PGC043 3 4 0.498 1_PGC428 9 10 0.922
1_PGC031 8 9 0.070 1_PGC043 4 5 0.628 1_PGC429 0 1 0.250
1_PGC031 9 10 0.129 1_PGC043 5 6 0.613 1_PGC429 1 2 0.500
1_PGC032 0 1 0.787 1_PGC043 6 7 0.594 1_PGC429 2 3 1.827
1_PGC032 1 2 0.562 1_PGC043 7 8 4.846 1_PGC429 3 4 7.948
1_PGC032 2 3 0.394 1_PGC043 8 9 5.916 1_PGC429 4 5 0.434
1_PGC032 3 4 0.593 1_PGC043 9 10 2.479 1_PGC429 5 6 3.620
1_PGC032 4 5 0.701 1_PGC418 0 1 0.273 1_PGC429 6 7 1.828
1_PGC032 5 6 2.211 1_PGC418 1 2 0.314 1_PGC429 7 8 1.387
1_PGC032 6 7 3.322 1_PGC418 2 3 0.624 1_PGC429 8 9 1.741
1_PGC032 7 8 3.434 1_PGC418 3 4 3.490 1_PGC429 9 10 1.755
1_PGC032 8 9 2.008 1_PGC418 4 5 2.880 1_PGC430 0 1 2.521
1_PGC032 9 10 1.433 1_PGC418 5 6 1.550 1_PGC430 1 2 0.678
1_PGC039 0 1 0.536 1_PGC418 6 7 1.490 1_PGC430 2 3 0.452
1_PGC039 1 2 0.971 1_PGC418 7 8 1.460 1_PGC430 3 4 1.884
1_PGC039 2 3 1.290 1_PGC418 8 9 0.480 1_PGC430 4 5 1.230
1_PGC039 3 4 0.290 1_PGC418 9 10 0.420 1_PGC430 5 6 3.280
1_PGC039 4 5 0.078 1_PGC419 0 1 0.235 1_PGC430 6 7 6.250
1_PGC039 5 6 0.355 1_PGC419 1 2 0.032 1_PGC430 7 8 3.110
1_PGC039 6 7 0.149 1_PGC419 2 3 2.120 1_PGC430 8 9 2.840
1_PGC039 7 8 0.100 1_PGC419 3 4 0.177 1_PGC430 9 10 2.630
1_PGC039 8 9 0.452 1_PGC419 4 5 4.340 1_PGC431 0 1 0.210
1_PGC039 9 10 0.087 1_PGC419 5 6 2.840 1_PGC431 1 2 0.450
1_PGC041 0 1 4.791 1_PGC419 6 7 1.690 1_PGC431 2 3 0.242
1_PGC041 1 2 1.266 1_PGC419 7 8 3.410 1_PGC431 3 4 0.388
1_PGC041 2 3 1.216 1_PGC419 8 9 2.370 1_PGC431 4 5 0.181
1_PGC041 3 4 1.043 1_PGC419 9 10 1.910 1_PGC431 5 6 0.288
1_PGC041 4 5 0.478 1_PGC427 0 1 0.300 1_PGC431 6 7 0.338
1_PGC041 5 6 0.759 1_PGC427 1 2 0.750 1_PGC431 7 8 0.296
1_PGC041 6 7 0.240 1_PGC427 2 3 0.895 1_PGC431 8 9 1.481
1_PGC041 7 8 0.096 1_PGC427 3 4 1.286 1_PGC431 9 10 0.693
1_PGC041 8 9 0.320 1_PGC427 4 5 0.144
1_PGC041 9 10 0.086 1_PGC427 5 6 0.174
1_PGC042 0 1 1.754 1_PGC427 6 7 0.243
1_PGC042 1 2 0.637 1_PGC427 7 8 0.331