Monument Announces the Discovery of the Mentique Prospect: 1 km West of the Peranggih Gold Prospect
February 19, 2020 News Release Release #02- 2020
Monument Announces the Discovery of the Mentique Prospect:
1 km West of the Peranggih Gold Prospect
Vancouver, B.C. Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) (“Monument” or the “Company” ) is
pleased to announce the discovery of a new anomaly which has been called the Mentique Prospect, parallel and
1km west of the Peranggih Gold Prospect.
A soil sampling campaign was conducted in the Peranggih
area between December 2018 and March 2019 covering
a total area of 16 km², to the Northeast, south and
Figure 1: Gold in soil anomaly at Peranggih and
Mentique prospects.
southwest of the existing Peranggih mineralization.
The main objective of the program was to identify
additional oxide exploration targets. The soil sample
lines were spaced at 50m x 200m to the southwest
of Peranggih and 50m x 400m to the northeast of
Peranggih. A total of 506 samples were collected
during this campaign . Data compilation and
geological interpretation were recently completed.
Program Highlights:
Discovery of a 1.8km by 0.8km gold soil
anomaly located 1 km west of the Peranggih
deposit on a parallel north west - south east
trending structure with a peak value of
103ppb. This discovery has been named the
Mentique Prospect.
Extension of the gold in soil anomaly by an
area of 0.7km by 0.3km north from the
current Peranggih known mineralization.
Extension of the gold in soil anomaly by an
area of 0.25km by 0.25km south from the
current Peranggih known mineralization.
Spatial distribution analysis has shown
arsenic (“As”) correlates strongly with the
gold value s at both the Peranggih and
Mentique prospects.
The general trend of the anomaly
corresponds well with the major regional
NNW-SSE structure that host s gold at
Selinsing, Buffalo Reef and Peranggih.
Samples were collected from the A-horizon soil layer for this campaign as it has previously proven to be highly
successful for delineating gold soil anomalies in the region. Approximately 100g of material was collected for each
sample by digging 5cm below the top soil layer which is rich in organic matter. Samples were inserted into zip-lock
bags and later stored at the core shed for tagging and packing before sending for assay.
All samples were sent to Intertek Genalysis laboratory in Perth for 19 multi-element pathfinder analysis (Au, Ag,
As, Bi, Cd, Co, Cu, La, Mo, Ni, Pb, Pd, Pt, Sb, Sn, Th, U, W, Zn) by its proprietary partial leach analysis method
(Terraleach Partial Digest Geochemistry). This technology is designed to remove the “ mobile ion”
component from soil with the aim of potentially detecting metal dispersion from a buried ore -
body. Pathfinder elements were analyzed for using this technique as well. A detection limit of 0.01 ppb for gold
ensures very low levels of gold can be detected. The completed assay report was received in September 2019.
Spatial Distribution Multielement Analysis
Peranggih is one of the most promising prospect s in the Selinsing gold portfolio where gold mineralization has
been confirmed by high grade drill intercepts along the NW -SE structural trend. The distribution of gold also
correlates well with interpreted faults. Selected pathfinder elements show high spatial correlation with gold. The
Peranggih mineralization (Zone 1, Figures 1 to 5) has an Au-As-W-Sb-Mo association.
Mentique (Zone 2, Figures 1 to 5 ) also shows a significant anomalous zone that correlates well with 2 adjacent
fault structures both trending in NW-SE and N -S directions. Superimposed folds are interpreted to have played
important roles for gold enrichment. Based on the pathfinder element distribution, mineralization at Mentique
has an Au- Sb-As-W-Mo association.
Figure 2: Arsenic (As) - shows a strong spatial
correlation with Au both at Peranggih and
Mentique Prospect (see Figure 1)
Figure 3: Molybdenu m (Mo) - shows almost the
same pattern with As at Peranggih, but relatively
less concentrated. Peranggih South consists of a
strong Mo anomaly, corresponding to highly
anomalous As and Au.
Figure 4: Antimony (Sb) - shows a strong spatial
distribution with Au especially at the Mentique
prospect (zone 2) and a weaker spatial
relationship at north and south Peranggih (zone
1).
Figure 5: Tungsten (W) - shows a good spatial
relationship with Au at Peranggih mineralization
(zone 1).
QAQC
A total of 134 QAQC samples were inserted to the A -horizon sample interval s including 89 blanks and 45
duplicates. No certified reference materials (CRMs) were inserted and laboratory CRMs were used for standards
analysis. Blank analysis has been carried out and 0.3 ppb was used as the cut off value, with blank material coming
from a granite quarry in Cameron Highlands, located approximately 50 Km west of Peranggih. Of 89 blanks, 9 blank
samples were reported above the recommended value. Duplicate samples show good repeatability against the
original sample results.
Follow up work at Peranggih and Mentique Prospect
Additional exploratory drilling will be conducted at the southern and northern extensions of the Peranggih
anomalous zone to confirm the continuation of mineralization along strike based on the soil geochemical
anomaly.
At the Mentique prospect, several east-west orien ted trenches are being planned to test the
mineralization in saprolite and provide a better understanding of the geology by sampling and geological
mapping.
Soil sampling is to be conducted north-west of the Mentique prospect to follow up on the open anomalous
zone.
Trial mining and trench sampling at Peranggih to test the average grade and collect further geological
evidence. The trial mining has been undertaken and results will be announced once obtained.
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.
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 Copp er-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 19 8 people in both regions and is committed to the h ighest 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 St,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 Media 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 (“for ward-
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", "e stimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or result s "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. The se 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 acti vities;
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 pro jects, all
of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to dev elop
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 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 res ults of
development and exploration activities; costs of future activities; capital and operating expen ditures; success of exploration activities;
mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion an d 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.