Monument Announces Positive Drilling Results At Murchison Gold Projects in West Australia
July 07, 2020 News Release Release #12 - 2020
Monument Announces Positive Drilling Results
At Murchison Gold Projects in West Australia
Vancouver, B.C ., July 07 , 20 20, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) (“Monument” or the
“Company”) is pleased to announce exploration drilling results from the company’s Murchison Gold Project at Burnakura
and Gabanintha in Western Australia. The drilling program commenced in late February 2020 and was successfully
completed in early May 2020 (the “2020 drilling program”) . The results have confirmed the continuity of gold
mineralization within identified structures and favorable lithology from existing mineral resources.
Highlights:
Down plunge extensions of existing high grade gold mineralization was successfully identified at deposits within
the Burnakura and Gabanintha Projects.
Down plunge exploration drilling at the Yagahong deposit returned:
- 4m at 5.01g/t Au in drill hole 20MRC008 from 139m, and
- 2m at 8.8g/t Au in 20MRC009 from 194m down-hole depths.
Down plunge exploration drilling at the NOA 1 deposit has returned:
- 5.77m at 2.13g/t in drill hole 20MRD013 from 237.8m down-hole depth.
Confirmation of mineralized structures and favorable lithologies, including the Alliance Banded Iron Formation
(BIF).
The 2020 Drilling Program
The main focus of the 2020 drill program was to test down plunge extensions of existing high grade gold mineralization at
both the Burnakura Project ( Alliance, New Alliance and NOA deposits ), and the Gabanintha Project ( Yagahong deposit).
The North of NOA7/8 (“NOA 9”) regional target within the Burnakura Project was also tested.
The 2020 drill program was planned to consist of 4,580 drill meters for 38 drill holes with a completion targeting late
March. Due to additional heritage survey work the drilling was completed in early May.
A total of 3,864m was drilled, consisting of 397m of diamond drilling (“ DD”), 2,864m of reverse circulation (“ RC”) and
603m of AC drilling illustrated in Table 1 below:
Table 1. Drill Program Details
Burnakura Down Plunge Extension
The program successfully tested down plunge targets at Alliance, New Alliance , NOA 1 and NOA 2 deposits at the
Drill Area and Type Holes
Drilled
Meters
Drilled
Burnakura Down Plunge Extension RC Only 4 839
Burnakura Down Plunge Extension RC/DD 4 738/397
Gabanintha Down Plunge Extension RC 6 1,287
Burnakura NOA 9 Regional Target AC 23 603
Total 37 3,864
Burnakura project (Figure 1). A total of 12 holes for 3,080m were planned to test down plunge extension s of high grade
gold mineralisation at Alliance (1,005m), New Alliance (850m) and NOA (1,225m). The drill holes targeted high grade
gold mineralization with the potential to be mined underground as part of Monument ’s strategy to delineate additional
resources to improve the economics of the project.
A total of 8 holes for 1,577m of RC and 397m of DD were drilled to test down plunge extensions of high grade gold
mineralization at Alliance (806m), New Alliance (557m), N OA 1 (264m) and NOA 2 (346m) (See Figure 1). The
Burnakura RC and DD holes were all drilled within 2km of Monument’s 260,000 tonnes per annum gold processing plant.
The drilling confirmed the continuity of structures and favorable lithology from existing r esources, including the best
intersection of a 5.77m wide quartz vein at 2.13g/t Au, in hole 20MRD013, from 243m down-hole depth, at NOA 1, which
was only tested with one drill hole during this drill program.
The drilling was completed in two phases, as a diamond drill rig was mobilized to complete the deeper holes because the
RC rig was not able to keep the deeper samples dry. This resulted in some updates to the original drill plan to keep costs
within budget. A full listing of drill hole details showing intersections above 1 g/t gold are shown in Appendix 1.
Figure 1: Plan view of Burnakura drilled holes.
All Burnakura significant intercepts from this drill program are shown in Table 2 below.
Table 2: Burnakura Project Significant Intercepts
Hole ID Prospect Azi Dip EOH Depth From
(m)
Depth To
(m)
Downhole
Width (m)* Au (g/t)
20MRC001 Alliance 268 -60 282 243 245 2 0.94
20MRC002
New Alliance
273 -61 167 142 145 3 1.87
20MRC003
And
273 -60 160
129 133 4 1.42
136 137 1 1.41
140 142 2 2.32
20MRC004 311 -60 230 - - - NSR**
20MRD011
Alliance
273 -60 271 183 184 1.00 2.22
20MRD012 274 -60 253 214.4 215.75 1.35 1.02
225.09 225.65 0.56 5.43
20MRD013
NOA 1 273 -60 264
191.5 192.56 1.06 1.51
And 237.8 243.57 5.77 2.13
Including 242.5 243.57 1.07 7.55
20MRD014 NOA 2 273 -59 346 - - - NSR
*True width intersections are estimated to be approximately 95%, 95% and 80% of drilled widths for Alliance, New Alliance and
NOA 1 respectively.
**NSR = no significant result
The 3 holes drilled at Alliance intersected the same structure and lithology that occurs 170-200m “up dip” in the higher
grade areas of the existing resource, confirming the continuity of the gold mineralization and its potential as an underground
target. As this drill program consisted of only 3 holes covering a strike length of over 280m, further infill drilling is required
to test this target.
Drilling at New Alliance targeted approximately 100m down an interpreted plunge of a high grade gold area that has the
potential to be mined underground. Although mineralization was weaker than expected , the target is not fully tested and
requires additional drilling.
A single hole was drilled to target NOA 1 gold mineralization which is interpreted to be located on the same structure that
hosts the NOA 2 gold mineralization but is offset by a major east -west fault. The hole intersected a wide prospective quartz
vein zone from 237.8m to 243.57m and returned a signif icant intersection of 5.77m at 2.13 g/t. Due to the potential nuggety
distribution of gold within this quartz vein structure, further drilling will be req uired to fully test this structure and extend
the mineralization down dip and further to the south.
A single hole was drilled targeting the potential down plunge of the NOA 2 mineralization. The same high potential
dolerite-sediment contacts that host s the minerali zation previously mined underground (“up dip ”) was intersected. The
extension of prospective lithologies was confirmed, and further exploration targeting work wil l be completed prior to any
further drilling.
Gabanintha Down Plunge Extension
A total of 5 RC holes for 1,127m were drilled to test the down plunge extension of the high grade Yagahong gold
mineralization (See Figure 2). The drilling successfully extended the known mine ralised structure a further 300m down
plunge from the existing high grade drilled area . In addition, the deepest down plunge hole that was drilled recorded an
intercept of 2m at 8.8g/t gold.
Figure 2: Yagahong oblique view looking to the east.
The 5 holes at Yagahong were all drilled at least 110 m down plunge from existing drilling. Drilling confirmed the
continuity of the shallowly north -west plunging structure. Several encouraging gold intersections including 4m at 5.01g/t
Au in drill hole 20MRC008 , from 139m down-hole depth, and 2m at 8.8g/t Au in drill hole 20MRC009 from 194m down-
hole depth were returned (See Table 3). In addition, there were several strong copper intercepts. Hole 20MRC007 returned
14m at 0.97% Cu from 143m down-hole depth, including 3m at 2.86% Cu and hole 20MRC009 returned 3m at 0.85% Cu
from 169m.
Table 3: Summary of Gabanintha Project Results
Hole ID Prospect Azi Dip EOH Depth From
(m)
Depth To
(m)
Downhole
Width (m) * Au (g/t) Cu%
20MRC005
Yagahong
218 -71 195 - - - NSR -
20MRC006 215 -70 180 - - - NSR -
20MRC007
206 -74 228
143 157 14 0.29 0.97
144 145 1 1.94 2.02
151 154 3 0.50 2.86
20MRC008
215 -71 250 139 143 4 5.01 NSR**
139 140 1 17.7 NSR
20MRC009 212 -71 252
159 160 1 1.35 NSR
169 172 3 1.21 0.85
194 196 2 8.80 -
20MRC010 Canterbury 258 -65 160 - - - NSR -
*True width intersections are estimated to be approximately 95%, 95% and 80% of drilled widths for Alliance, New Alliance and
NOA 1 respectively.
**NSR = no significant result
Burnakura NOA 9 Regional Target
The NOA 9 regional target was tested with 23 AC holes for 603m of drilling. Three east -west lines spaced at 250m and
350m with 40m spaced holes dipping to the west were drilled. The NOA 9 target was identified by Dr. Warwick Crowe
(See November 8, 2018 news release) as a potential north-west trending splay off the Burnakura shear zone with a similar
structural association of the NOA trend of deposits. The target was tested , but there were no significant intercepts recorded
yet. These results will be considere d in terms of the overall Murchison package and reviewed in conjunction with
geochemical and geophysical data.
Forward Plan
Follow up drill programs will be planned to target and extend some of the encouraging mineralization and structure s
intercepted in this drill program. A review of other high potential drill ready targets will also be made so that targets can be
reprioritized according to knowledge obtained from this drill program. In addition , an increased focus will now be made on
regional exploration potential assessment to capitalize on Monument’s large land holding over its three Murchison projects
(Burnakura, Gabanintha and Tuckanarra).
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. Drill contractors used for this drill program included Kennedy Drilling and Mount
Magnet Drilling.
RC drilling used a 5.5 0 to 5.75 inch face sampling pneumatic hammer with samples collected into 60 lit er plastic bags.
Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow; however, a small number of RC
samples from this drill program were wet. If water ingress exceeded the air pressure consistently, RC drilling was cancelled
and drilling conver ted to diamond core tails. AC drill cuttings were collected in one meter intervals and split between a
calico bag and a portion for spear sampling 4m composites. The 1m calico sample was stored at the drill site until assay
results were received and validated. Composites returning greater than 0.2g/t Au were subsampled using the 1m calico bags.
Coarse reject samples for all mineralized samples corresponding to sign ificant Au intervals were retained and stored on-site
at the Company controlled core yard.
DD drill holes were drilled with N Q sized diamond drill bits. The core was l ogged, marked up for sampling according to
geological contacts at intervals between 0.3m and 1.3m length, but was generally sampled at 1m length intervals. Samples
were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a
secure location at the Co mpany core yard at the Burnakura camp. The other half was sampled, catalogued and placed into
sealed bags and securely stored at the site until shipment.
All drill samples were shipped to ALS Geochemistry laboratory in Wangara, WA for preparation. Samples were dried and
crushed to 85% passing 75 microns. A 200-250g subsample was then sent to ALS Geochemistry Malaga lab where routine
gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed. Selected samples were
dissolved by a four acid d igestion and then analyzed for of a suite of 33 elements using an ICP -AES finish. Quality control
procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition,
the Lab inserted its own quality control samples. The results of the Monument control samples for this drilling program
were evaluated and were considered to be of a high standard and no samples were re -analyzed and/or resubmitted. A batch
of samples will be sent to another laboratory for cross checking in the near future as part of the QAQC procedure.
Qualified Persons
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 a pproved by Roger Stangler, MEng, FAusIMM, MAIG, a Qualified
Person as defined by NI43-101, retained by Golder Associates Pty Ltd.
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 Copper and Ir on 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 202 people in both regions and is committed to the highes t 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 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 cer tain 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 limitation:
risks related to general business, economic, competitive, geopolitical and social u ncertainties; 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 available under the profile of the Company on SEDAR at www.sedar.com. Ma terial
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 generated from the operations, general econo mic
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; the expected timing a nd 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 assu mptions
described in the ma nagement 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. 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.
Appendix 1 – Drilling details and significant intercepts near or above 1.0 g/t Au and or 0.5% Cu cut -off grades
Hole ID Prospect Hole Type Easting (m) Northing (m) RL (m) Azi Dip EOH (m) Depth From
(m) Depth To (m) Downhole
Width (m) Gold (g/t) Cu% Comment
20MRC001 Alliance RC 645,914 7,007,688 467 268 -60 282 243 245 2 0.94 -
20MRC002 RC 645,912 7,008,110 462 273 -61 167 142 145 3 1.87 -
129 133 4 1.42 -
136 137 1 1.41 -
140 142 2 2.32 -
20MRC004 RC 646,014 7,008,233 465 311 -60 230 - - - NSR -
20MRC005 RC 663,105 7,022,123 486 218 -71 195 - - - NSR -
20MRC006 RC 663,081 7,022,079 485 215 -70 180 - - - NSR -
143 157 14 0.29 0.97
144 145 1 1.94 2.02
151 154 3 0.5 2.86
139 143 4 5.01 NSR**
139 140 1 17.7 NSR
159 160 1 1.35 NSR
169 172 3 1.21 0.85
194 196 2 8.8 -
20MRC010 Canterbury RC 663,376 7,021,441 484 258 -65 160 - - - NSR -
20MRD011 RCDD 645,882 7,007,876 466 273 -60 271.1 183 184 1 2.22 -
214.4 215.75 1.35 1.02 -
225.09 225.65 0.56 5.43 -
191.5 192.56 1.06 1.51 -
237.8 243.57 5.77 2.13 -
242.5 243.57 1.07 7.55 -
20MRD014 NOA 2 RCDD 645,948 7,010,572 459 273 -59 346.1 - - - NSR -
20MRC015 Yagahong RC 663,046 7,022,204 493 219 -70 22 - - - - - Abandoned
20MAC001 AC 646,557 7,012,242 455 270 -60 20 - - - NSR -
20MAC002 AC 646,596 7,012,236 460 270 -60 22 - - - NSR -
20MAC003 AC 646,643 7,012,241 466 270 -60 23 - - - NSR -
20MAC004 AC 646,673 7,012,238 469 270 -60 29 - - - NSR -
20MAC005 AC 646,726 7,012,238 466 270 -60 40 - - - NSR -
20MAC006 AC 646,754 7,012,237 469 270 -60 40 - - - NSR -
20MAC007 AC 646,794 7,012,234 465 270 -60 40 - - - NSR -
20MAC008 AC 646,838 7,012,239 461 270 -60 40 - - - NSR -
20MAC009 AC 646,451 7,012,594 448 270 -60 11 - - - NSR -
20MAC010 AC 646,500 7,012,604 461 270 -60 15 - - - NSR -
20MAC011 AC 646,541 7,012,599 463 270 -60 41 - - - NSR -
20MAC012 AC 646,580 7,012,598 464 270 -60 24 - - - NSR -
20MAC013 AC 646,615 7,012,598 462 270 -60 26 - - - NSR -
20MAC014 AC 646,658 7,012,592 469 270 -60 29 20 24 4 0.15 -
20MAC015 AC 646,705 7,012,596 464 270 -60 21 - - - NSR -
20MAC016 AC 646,737 7,012,596 467 270 -60 40 - - - NSR -
20MAC017 AC 646,411 7,012,850 460 270 -60 13 - - - NSR -
20MAC018 AC 646,444 7,012,849 461 270 -60 10 - - - NSR -
20MAC019 AC 646,495 7,012,850 466 270 -60 30 - - - NSR -
20MAC020 AC 646,527 7,012,854 466 270 -60 30 - - - NSR -
20MAC021 AC 646,571 7,012,845 470 270 -60 20 - - - NSR -
20MAC022 AC 646,617 7,012,850 462 270 -60 19 - - - NSR -
20MAC023 AC 646,647 7,012,852 461 270 -60 20 - - - NSR -
*True width intersections are estimated to be approximately 95%, 95% and 80% of drilled widths for Alliance, New Alliance and NOA 1 respectively.
**NSR = no significant result
NOA 9
253.2
20MRD013
NOA 1
RCDD 646,236 7,010,039 460 273 -60 263.9
-71 252
Alliance
20MRD012 RCDD 645,860 7,007,973 466 274 -60
20MRC009 RC 663,104 7,022,287 485 212
-74 228
20MRC008 RC 663,180 7,022,245 485 215 -71 250
273 -60 160
Yagahong
20MRC007 RC 663,116 7,022,160 484 206
New Alliance
20MRC003 RC 645,922 7,008,162 464