Monument Announces Significant Drill Intercept at the ANA, Burnakura Project in Western Australia
MONUMENT MINING LIMITED News Release August 07, 2018
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August 07, 2018 News Release Release #14 2018
Monument Announces Significant Drill Intercept at the ANA, Burnakura Project in Western Australia
Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company")
is pleased to announce results of a 309m deep diamond drillhole with RC pre -collar at Alliance and New
Alliance (“ANA”) Deposit, one of three drilling programs carried out at the Burnakura Property announced on
May 8, 2018 . All three drill programs were completed in June 2018 , assays have recently been received, and
results of the remainder of the program s, including the NOA 7/8 Deep Exploration Program and the Burnakura
Shallow Oxide Drilling Program are still being processed and yet to be released to the market.
Highlights of the ANA Deep Drilling Result
High-grade mineralization was intercepted more than 170m down dip of the known minerali zation at
ANA.
Drillhole 18RCDDH10 intersected 1.3m @ 26.8g/t Au (from Meter 194 to 195.3) (Figure 1).
The favourable Banded Iron Formation (“BIF”) horizon which controls the gold mineralization has been
shown to be continuous at depth.
Figure 1: Assay results from drillhole 18RCDDH10 (grades in g/t Au)
Alliance and New Alliance Deep Drilling Program
The ANA deposit (included in the NI 43-101 Technical Report-Updated Mineral Resources, Burnakura Gold
Project, Western Australia, Australia, July 2018) is structurally controlled by BIF horizons. The gold rich quartz
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vein commonly develops in the hanging wall of the BIF and forms a tabular 1 -3m wide high grade vein, with a
low grade halo developing in the BIF itself.
Historically the A NA deposit was mined both open pit and underground since early 1900’s. Historical records
from the State Mine Engineer records of WA reported that over 23,000oz of gold were produced underground, at
an average head grade of 41.2g/t. Between 1989-1997, 30,000oz of gold were produced open pit, at an average
head grade of 3.5 g/t Au, as indicated in the SRK NI 43 -101 Technical Report -Updated Mineral Resources,
Burnakura Gold Project, Western Australia, Australia, July 2018.
The B IF which controls the mineralization, is projected to dip to the East . Drillhole 18RCDDH10 tested this
favourable horizon approximately 170 m below the known mineralization (Figure 2) , and high grade
mineralization (1.3m @ 26.8g/t, approximately true mineralization width) was intercepted almost exactly where
predicted, showing that the mineralization is very continuous and predic table. See Table 1 1 for details of the
hole, and Table 2 for the drill assay results..
Table 1: Drillhole 18RCDDH10 details
Table 2: Drill assay results for 18RCDDH10
SampleID Hole_ID mFrom mTo Length (m)* Au (g/t) Sample_Type
18MDD0264 18RCDDH10 192 193 1.0 0.02 CORE
18MDD0265 18RCDDH10 193 194 1.0 0.01 CORE
18MDD0266 18RCDDH10 194 195.3 1.3 26.8 CORE
18MDD0268 18RCDDH10 195.3 196 0.7 1.0 CORE
18MDD0269 18RCDDH10 196 197 1.0 0.31 CORE
18MDD0270 18RCDDH10 197 198 1.0 0.02 CORE
18MDD0271 18RCDDH10 198 199 1.0 0.02 CORE
*approximate true mineralization width
Increased alteration intensity was logged at the end of hole, indicating increased fluid flow whi ch is a common
vector to mineralization. The potential for further repeat parallel mineralization lines will be investigated with a
planned follow-up drilling.
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Figure 2: ANA Cross section displaying new diamond drillhole intersection
Plan Moving Forward:
An initial exploration target has been delineated based on the knowledge of current mineral resources together
with the results of the new intersection in depth. (Figure 3)
Figure 3: ANA Oblique Plan demonstrating the location of 18RCDDH10 and the extents of t he exploration target
zone
Monument is encouraged and believes an extended mineralization can be delineated quickly with further drilling
along this prospective BIF horizon in the exploration target zone. Monument is excited to follow up with further
drilling to delineat e what Monument believes to be a very simple and continuous high grade structure . A drill
program is currently being developed to follow up on this opportunity , testing continuity of the known
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mineralization and possible repeats at depth.
The scientific and technical information in this press release has been prepar ed by Mark Lynch -Staunton,
MCSM, MAIG, M.Sc Mining Geology; and supervised and approved by Roger Stangler, MEng, MAusIMM,
MAIG, a Qualified Person as defined by NI43-101, both retained by Monument Mining Limited.
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-Iron 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.
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]
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 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
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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.