$News Release; Monument Appoints Hugh Bresser to Chief Managing Geologist April 19, 2021 View PDF Vancouver, B.C., April 19, 2021,
$Monument Mining Limited (TSX-V: MMY)(MMTMF)(FSE: D7Q1) “Monument” or the “Company” is pleased to announce the appointment of Mr. Hugh Bresser to Chief Managing Geologist.
“I am very pleased to have Hugh Bresser join us as Chief Managing Geologist at this very critical time when we completed the restructure of our mineral asset portfolio and committed to developing Murchison Gold Mines towards being a cornerstone project”, remarks Cathy Zhai, President & CEO of Monument Mining, “I believe his enthusiasm in gold discovery, extensive experience in mineral asset development and determination to lead the team building high performance will make a significant difference in the progress of our Murchison project.”
Mr. Bresser has built a 30-year career in the minerals industry focused on exploration, identification, acquisition and development of economic ore deposits, utilizing conventional and unconventional targeting and exploration strategies in combination with a commercial understanding of minerals economics and the resource industry cycle in Australia, North and South America, Asia and Europe. His work experience ranging from junior, mid-cap miners and majors provides a strength and depth of understanding of risk and capital management, including South 32 Ltd, Pancontinental Mining Ltd., P.T. Billiton Indonesia, Billiton Exploration Australia Pty. Ltd., and various roles at BHP. He also was the managing director at Overland Resources Limited and the principal consulting geologist at Milagro Ventures Pty. Ltd.
Mr. Bresser holds professional memberships and affiliations in MAusIMM, MAIG, MSEG, MGSA, graduated from James Cook University with a BSc. honors degree in Metalliferous and Economic Geology in North Queensland and holds an MBA from Mt Eliza Business School in Melbourne, Australia.
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 also advancing the Murchison Gold Projects comprising Burnakura, Gabanintha (100%) 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;
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
$Monument Mining Ltd. (TSXV:MMY)(MMTMF) Very nice Gold Project Presentation of Perangih open pit gold mines;
Peranggih exploration is carried out in three separate zones within the main regional structure: 1. Peranggih South open gold mine pit, 2. Peranggih Central gold mine open pit , and 3. Peranggih North open gold mine pit;
Peranggih Area Drill hole Map
$Monument Mining has undertaken a diamond drilling campaigns; started in March 2014, with 21 holes completed for over 2,007m.
Oxide trenching, pit geological mapping, surface sampling, and initial geological modeling program were executed during 2016 and 2017.
A subsequent close space 5m x 5m Percussion Rotary Air Blast (RAB) drilling program, 2,780m for 298 holes, was carried out in August 2017 at the Central zone to test 150m strike length x 80m width of the mineralization.
This program initially indicated over 38kt @ 1.00g/t Au with a broad 15m-20m wide high-grade zone and multiple isolated high-grade zones, surrounded by more grade gold mineralization.
It proved the presence of disseminated gold in the breccia matrix.
It is noteworthy that grade control areas for mining bench construction is much larger than the two starter pits in Peranggih South.
Grade control was conducted within the high grade zones.
This indicates that the final pit size in Peranggih South will be much larger than currently developed.
The average pit at Selinsing produced 50,000 ounces.
Its not unreasonable that these two starter pits in P South could reach that level of production + more.
Currently, Peranggih Central has been grade controlled but the pit has to be ready for production.
This area the management conservative estimated 20,000 to 30,000 ounces in 2018 which they reported had increased by 44 % by early 2021.
It would seem that this third pit in P Central could also produce up to 50,000 ounces + more.
Peranggih North has been too sparsely drilled to judge productivity, but it is also a high grade area - so another 3rd pit might be developed there.
Mentique adjoins closely with Peranggih. It has two high grade zones extending at strike by 1.8 km.
The drilling as been done at Peranaggih will make more gold productivity.
The same setting and lithology and contiguous with Perangghi, the chances are high that Mentque could contain two more oxide open pits mines.
$SUMMARY Ex....
Conservative dividing by 2 ( 25,000 ounces per pit ) , RE: Peranggih open pit gold mines;
Peranggih will be a major contributor to increased oxide production - in the coming years and being decent grade oxides - will boost recovery levels , thereby reducing cash costs.
$45 million cash in hand approx
That puts MMY at a .135 cent book value, cash only.
Our operational property and Australian lands with mill have no value in our share price today.
This will have to change or some entity will take this company.
$Monument (MMTMF)(TSXV:MMY) announces sale of its Malyasian subsidiary Mining TSXV:MMY $47.70M
Simon Druker Markets Reporter simon.druker@themarketherald.ca 08 April 2021 16:00
Monument Mining Limited (MMY) has closed a transaction to sell its 100 per cent interest in Monument Mengapur, its Malaysian subsidiary
The company sold Monument Mengapur to Fortress Minerals Limited
Monument Mengapur owns the Mengapur Copper and Iron Project in its entirety
The Mengapur Project is located in Pahang State, approximately 75 kilometres northwest from Kuantan Monument Mining is unchanged on the day, with shares trading at C$0.12 at 1:10 pm ET
Monument Mining Limited (MMY) has closed a transaction to sell its entire 100 per cent interest in Monument Mengapur, its Malaysian subsidiary.
The company sold Monument Mengapur to Fortress Minerals Limited.
Monument Mengapur owns the Mengapur Copper and Iron Project in its entirety.
The Mengapur Project is located in Pahang State, approximately 75 kilometres northwest from Kuantan.
The sale of the Mengapur Project is part of Monument’s corporate restructuring to focus on the development of the company's gold projects in Malaysia and Western Australia.
Under the terms of the agreement, Monument received US$30 million cash consideration in full.
The deal also entitles Monument to a royalty of 1.25 per cent of gross revenue on all products produced at the Mengapur Project.
A finder’s fee of US$600,000 was paid out from the gross proceeds.
Proceeds from the transaction will be used for corporate and future gold project development.
Founded in 1997 and based in Vancouver, Monument Mining Limited is an established Canadian gold producer that operates the 100 per cent owned Selinsing Gold Mine in Malaysia.
Gold Price: Still on Track for $3,000, Another Shot Is Coming Says John Doody 37,911 views •Mar 24, 2021
SmallCapPower 5.72K subscribers In this interview at the PDAC 2020 convention, SmallCapPower spoke with Monument Mining Limited (TSXV:MMY) President and CEO Cathy Zhai.
$Monument Mining has been successfully producing gold in Malaysia for the past 10 years and now has a promising development project in Western Australia.
Find out more about Monument Mining’s plans for 2020 by watching our interview.
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
“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.”
$MMY Heap Leach Production Potential of Murchison;
$Kentor has done a decent analysis of the heap leaching potential of the lower grade ores at Murchison.
As far as I know, we have the necessary heap leach equipment on hand at $Burnakura for 2 million tons per year.
I used to own GGD which heap leaches very low grade tailings .....less than 1 gm per ton Agglomeration was necessary, as recoveries were greater once the head grade ore was agglomerated with concrete. However, agglomeration seems to be not needed very much for Burnakura ore.
The other parameter is leach cycle time......the time required for the gold to be leached out of the ore once placed on the heap pad. I used 2 cycles per year.....ie about 150 days to maximize recovery of gold.
However, Kentor shows about 24 days which I think must mean something else , as that cycle is quite rapid.
So I use 2 cycles per year Of 500,000 tons of auriferous ore which means 1 million tons per year.
I will use an average of 0.9 gms per ton as head grade of the ore placed on the heap leach pads.
So, that means 900,000 grams of contained gold on the heap leach pads per year.
Recovery rates is about 90% for this grade of ore, so we end up recovering about 800,000 grams of gold per year, which divided by 31 gms per ounce means an annual production of about 25,000 ounces per year .
This is quite close to the 30,000 ounces recovered/ year by Indee gold which used this same leach equipment which was acquired by Kentor.
So, combining 40,000 ounces of high grade production from underground ore through the Burnakura mill @ 300,000 tons per year.....see my previous post..and 25,000 ounces of the lower grades from heap leach, we have about 65,000 ounces of production per year .
Heap leach is cheaper than milling for obvious reasons .
So an AISC of $1000 per ounce for the two combined production methods seems quite reasonable . @$1800 POG, we are excess cash flowing about $50 million per year .
Our neighbour free cash flows $80 million per year on 95,000 ounces .
This is good agreement . KRR trades at 5.5 times its free cash flow.
This would imply..but degraded 4,5 times , for lower production ..a fair value of about $225 million for our Murchison production, employing fully our current milling and heap leach facilities .
But, we have in addition , that rich gold copper resource at the Yagahong deposit of Gabathinia along with its other 6 pits none of which have been fully explored or the possibility of finding supergene ore.
So, our Murchison assets have superb value at current POG.
It's my analytical opinion, that the Greatest value of our Murchison assets would accrue to us shareholders by spinning it out to us as a new public listing, including the Tuckanara seed capital and JV , allocated perhaps 80% to shareholders and 20 % to our parent company.
Its a win win situation
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! :-) )
Way undervalued and oversold - 5 bagger + + + + ? or more - :-))
$Monument Mining (TSXV:MMY) Photo Gallery - well they growing with new great discovery of plenty more gold ore to increase the ore reserve with good drilling results to be mined many future years the weather is good no curtain needed - :-))
$1,000th Gold Bar Pour Produced by MMY; Photo Gallery :-)) It's a great Mother ore start;
News Releases Monument Reports First Quarter Fiscal 2021 (“Q1 2021”) Results November 16, 2020 View PDF Gross Revenue of $5.92 Million and Cash Cost of US$923/Oz
Vancouver, B.C., November 16, 2020,
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its first quarter production and financial results for the three months ended September 30, 2020. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented: “Fiscal 2021 started with new challenging as a global COVID-19 pandemic carried forward from fiscal 2020. The Company has fully resumed its production in the first quarter from eight-week’s mining ban at Selinsing in the first quarter, the Selinsing Sulphide gold plant upgrade is however still pending for financing.
“On the other hand, gold price surged to record high and the gold mining sector was very active in Western Australia, gold mining producers enjoyed high production margins, and investment is flowing into that region for gold explorations.
The Company continues try hard to access to financing, and it is very closely monitoring the market and looking for divesting of base metal portfolio to focus on primary gold assets, as well as new corporate development opportunities to lift up market value for the best interest of its shareholders.”
First Quarter Highlights:
3,504 ounces (“oz”) of gold produced (Q1 2020:
4,852oz) with 3,100oz of gold sold for gross revenue of $5.92 million (Q1 2020: 4,323oz of gold sold for revenue of $6.34 million);
Gross margin of $3.06 million (Q1 2020: $2.65 million);
Average realized price per ounce, excluding prepaid gold sales, of $1,909/oz (Q1 2020: $1,475/oz);
Cash cost per ounce of $923/oz (Q1 2020: $855/oz);
All-in sustaining costs per ounce (“AISC”) of $1,055/oz (Q1 2020: $1,158/oz);
Peranggih grade control drilling after positive trial mining results identified 58,662 tonnes at 0.93g/t Au materials;
Production resumed at Selinsing after lifting eight weeks mining ban in last quarter during COVID-19 pandemic Entering into a Tuckanarra JV arrangement with Odyssey subsequent to the quarter opens corporate development opportunities in WA region.
RE:Substantial Increase in Gold ...Stage 1 open pit Peranghi nozzpack @ sth. wrote:
Based on the 2017 GC drilling program which identified a high grade zone measuring 150 m by 80 m in P North ( see Fig 1 in link below ) management estimated this this GC zone contained 20,000 to 30,000 ounces....see link to 2017 NR below.
The recently completed 5002 m GC drilling of this Zone elicited this statement from management..
The GC delineated indicates;
54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
So in just this small zone, we now have at least 31,000 to 47,000 ounces of even higher grade gold within a lesser volume of ore.
I had earlier missed this implication .
They are now telling us that we have a significant new gold deposit at Peranghi whose size will eventually describe a substantially new oxide resource once P North and the other 3 high grade zones are fully explored.
My earlier analyses of these 4 zones showed in excess of 120,000 ounces.
This discovery completely alters the future perspective for mining at Selinsing.....no rush to fund Biox as we have new and substantial sources of high grade oxides for years to come
xxxxxxxxxxxxxxx
The Peranggih phase 1 GC drill program was completed during Q1 2021 with additional 1,466 meters drilled bringing total drilling to 5,002 meters.
The drill program identified a total of 58,662 tonnes at 0.93g/t Au, which increased the mining inventory.
The GC delineated indicates;
54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
A further GC drill program was planned;
The Peranggih phase 1 GC drill program was completed during Q1 2021 with additional 1,466 meters drilled bringing total drilling to 5,002 meters.
The drill program identified a; total of 58,662 tonnes at 0.93g/t Au, which increased the mining inventory.
The GC delineated indicates; 54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
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 main 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 are listed in
Appendix A and Appendix B.
Previous activities plus more recent 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 con
Gold & Silver bulls starting to break out > ^ > ^ > ^
$Japan Gold Provides Update on Barrick Alliance Activities V.JG | Vancouver, British Columbia--(Newsfile Corp. - April 28, 2021) -
$Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) (the "Company") is pleased to provide a progress report on the Barrick Alliance regional explorations activities.
Highlights:
53 New Prospecting Rights Applications Accepted in Q1 2021
29 Barrick Alliance Projects Now Cover 1,882 Square Kilometres
$MONETA EXTENDS GOLD MINERALIZATION ON THE DISCOVERY DEPOSIT AT GOLDEN HIGHWAY Toronto, Ontario – April 29, 2021 -
$Moneta Porcupine: One of the Largest Undeveloped Gold Projects in North America.
$Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) (“Moneta”) is pleased to announce the results from drilling on the extensions of the Discovery Deposit outside of the current NI 43-101 resource.
The drill holes were drilled as part of the expanded 2020/2021 winter drill program on the Golden Highway Project, 100 kilometres (“km”) east of Timmins, Ontario.
Highlights:
Drilling has intersected significant gold mineralization to extend the NI 43-101 underground gold resource estimate at Discovery:
• MGH20-165, located up-dip of the current Discovery resource: o Intersected 13.00 m @ 1.80 grams per tonne “g/t” gold “Au”, including 3.00 m @ 3.34g/t Au, including 1.00 m @ 4.05 g/t Au
o Intersected 4.00 m @ 2.70 g/t Au, including 2.00 m @ 4.25 g/t Au, including 1.00 m @ 5.63 g/t Au
• MGH20-166, located west and up-dip of the current Discovery gold resource:
o Intersected 7.00 m @ 2.06 g/t Au, including 1.00 m @ 3.91 g/t Au
• MGH20-167, located west and down plunge of the current Discovery resource:
o Intersected 20.40 m @ 0.89 g/t Au, including 0.90 m @ 2.39 g/t Au
• MGH20-171, located 500 m west of the current Discovery resource:
o Intersected 6.50 m @ 1.30 g/t Au, including 2.70 m @ 2.28 g/t Au,
including 1.00 m @ 4.55 g/t Au
“We are pleased to be continuing to intersect new gold mineralization outside of our current gold resources with our latest drilling,” commented CEO, Gary O’Connor.
“The drilling has intersected extensions of gold mineralization at Discovery, located on the northern splay of the Destor Porcupine Fault Zone, north of the South West underground resource and Windjammer South open pit deposit.
Significant gold mineralization has been intersected up to 500 m west, 150 m east and up to 100 m below the current Discovery resource.
$The drill results highlight the opportunity to continue to expand the underground resources at Discovery.
$The adjacent Discovery and Windjammer North underground resources currently contain 39,100 ounces gold in the indicated category and 191,200 ounces of gold in the inferred category at a 3.0 g/t Au cut-off, within a total project gold resource endowment of 3,967,000 ounces gold indicated and 4,399,000 ounces gold inferred.”
The latest assay results are from seven (7) drill holes, including one hole extension, for a total of 2,680.0 m of drilling, completed as part of the current 70,000 m 2020/2021 winter drill program.
The seven reported holes were targeting extensions of the Discovery resource that occurs north of the current Windjammer South and South West resources.
Drilling was focussed on extending the mineralization to the west and east as well as at depth.
The resource expansion drill program is continuing on the 2 Westaway, 55 Zone, South West, Windjammer South and new Halfway areas and further results are pending.
Safe jurisdiction in Timmins, Ontario with well established infrastructure.
Growing resources and new discoveries. Recent partnership with O3
$Mining’s Garrison Project to increase resources by 85% to 4.0MM gold ounces indicated and
by 32% to 4.4MM gold ounces inferred.
Moneta will hold one of the largest undeveloped gold projects in North America.
PEA results on South West deposit proves a robust gold project at US$1,500/ounce that produces C$236 million after-tax NPV5% and on our new partnership with O3 Mining’s Garrison project at US$1,450/ounce C$321 million after-tax NPV5%.
C$694 million after tax cash flow over the life of mine, South West and Garrison combined.
Regional scale exploration potential.
Creates largest land holder by a gold development company in the Timmins camp.
Expanding resource base.
An updated resource estimate will be announced in Q3, 2021 followed by an updated PEA on a much larger scale for the combined projects in early 2022.
Low cost discovery ounces.
Significant and growing resource with an active exploration program in Timmins, surrounded by major mining firms such as Pan American Silver, Kirkland Lake Gold, Newmont, OIII and McEwen Mining.
Insiders and investors aligned for long-term value creation.
Shareholders include Eric Sprott, K2 & Associates, Dundee Corporation, RBC, Mackenzie Funds, US Global, 1832 Asset Management.
Potential to fast track to feasibility study and production. Experienced management team.
About Moneta The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The main Golden Highway Project covers 12 km of prospective ground along the DPFZ of which 2 km hosts the current 43-101 mineral resource estimate comprised of an indicated resource of 676,900 ounces gold contained within 5.11 Mt @ 4.12 g/t Au and a total of 1,386,600 ounces gold contained within 10.78 Mt @ 4.00 g/t Au in the inferred category at a 2.60 g/t Au at South West and 3.00 g/t Au cut-off for the other deposits. A PEA study completed on the South West Deposit, one of 6 deposits located on the Golden Highway project, highlighted an 11-year mine life with an after-tax NPV5% of C$236MM, IRR of 30% and a 3.4 year payback, generating C$371MM LOM after-tax free cash flow. The project envisaged underground mining producing 76,000 oz/pa at a cash cost of US$590/oz.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO 416-357-3319
Linda Armstrong, Investor Relations 647-456-9223
The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
This news release includes certain forward-looking information and ----arry out its anticipated goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management---to revise or update these forward-looking statements.
Newsfile Corp. October 22, 2020 - 5:00 AM PDT Tags: INDUSTRIAL METALS & MINERALS 1 Moneta Porcupine commences drilling 'We think we're going to play a big role in the future of Timmins'
Andrew Autio, Local Journalism Initiative reporterAndrew Autio, Local Journalism Initiative reporter Published on: October 19, 2020 | Last Updated: October 19, 2020 8:32 PM EDT
O’Connor said they are very excited to be a new developer in the Timmins camp, alongside some major players, and they have high hopes attached to The Golden Highway project.
“We should be able to grow significantly,” he said. “We think we’re going to play a big role in the future of Timmins.”
South West Deposit PEA Returns Positive Economics on Both Stand-Alone and Toll Milling Scenarios
This morning, Moneta released a PEA (Exhibits 1-4) for the South West deposit, part of its Golden Highway project in Timmins, Ontario. A conference call will be held tomorrow at 10:30am ET; dial-in: 343.761.2596.
Highlights
• Works as Stand-Alone Mine: The base case models a 1,750tpd processing plant (94% recovery) that will ramp up (over two years) production in the UG mine to ~86Koz pa (by year 5; average 76Koz pa @ 3.9g/t diluted LOM). The initial capex on the 11 year mine is $144M (includes 15% contingency). The average long-hole stoping mining width is projected to be 8m (minimum 3m). The ore will be brought to surface via a ramp that’ll use 30t trucks. Costs are expected to be around $90/t and during the LOM the average AISC is forecasted at US$747/oz. Using a $1,500/oz Au price the PEA returned a NPV5% of $236M and ~30% IRR.
• Works as a Toll Milling Mine: The alternate scenario would be a quick, low capex operation whereby ore is trucked to an existing plant in the area. In this option the company would incur no processing plant and tailings facility costs and permitting would be a breeze. The toll milling options assumed lower recoveries at 92%, removing the cheaper gravity circuit from the plan. The production profile is similar (average 74Koz pa over the 11 year LOM) but operating costs would be higher at $119/t and US$938 AISC. However, with the lower upfront capex at $65M the IRR improves to ~44% (NPV5%: $197M).
• Growing Resource Presents Upside: The PEA used a lower cut-off at 2.6g/t (from 3.0g/t) from the previously stated South West resource. This increased the size of the total indicated and inferred South West resource by 22% to 1.8Moz (from ~1.5Moz). We note, this PEA was based on where the majority of drilling has been so far, the South West deposit and is more than enough to get started. Satellite deposits could offer additional upside in the future.
• Surrounded by Operating Mines/Mills: Toll milling could occur at any of the existing mills in the area including Holt Holloway, Black Fox, Hoyle Pond, Hollinger, Timmins West, and Bell Creek. Kirkland Lake’s (KL-T, Not Rated) and Newmont’s (NEM-N, Not Rated) recent formation of a strategic alliance on exploration in the area also bodes well for the camp and Moneta.
Valuation – Cheap on Existing Resource
Our $0.35/share price target is based on an in-situ multiple (~US$50/oz Au or ~3% of our long-term gold price) on the 1.7Moz Golden Highway resource.
Bottom Line – Build it or Toll It, Either Way Works
The resource growth, stock valuation, and gold price will make the decision in the next year or so if industry players don’t act first. With a desirable location in an existing camp with many underutilized mills the existing resource alone renders Moneta undervalued. We maintain our Buy recommendation and $0.35/share target price.
bigone yes its exciting, well I held on to Moneta for long time and I think it precious resources can help to feed Dome Mill - ex....
Close to The Old Moneta Mine's large property on the South part is Dome Gold Mine: Ex.... Goldcorp/Newmont makes headway with plan to give Dome mine a new life Cecilia Jamasmie | July 4, 2017
(Image courtesy of Goldcorp via Flickr)
Goldcorp/Newmont makes headway with plan to give Dome mine a new life Porcupine’s Dome started as an open pit and then went underground. Newmont’s Goldcorp (TSX:NGT) (NYSE:NEM), the world’s number one bullion miner in terms of output, is moving forward with its Century project, which aims to extend the life its century-old Dome mine in Ontario.
The Dome mine received a negative sentence in January 2016, when Goldcorp announced it was closing the operation in the summer due to weak bullion prices that nearly half the company’s share price over the previous year.
A few months later, however, the company literally stroke gold as it found indicated mineral resource of 4.5 million ounces and a gold inferred mineral resource of 0.9 million ounces (for a total of 5.4 million ounces) at what is now being called the Dome Century Project.
GOLDCORP MAY BE ABLE TO BEGIN DEVELOPING THE OPEN-PIT CENTURY PROJECT -
Goldcorp kicked off then a conceptual study to expand the open-pit mine, which has just completed, and the project is entering its prefeasibility stage, expected to take about 18 months.
“If we want to be economically viable and continue to contribute to Timmins, we need projects like this to make that happen (…) this is just an example of some of the ideas we have to take PGM (Porcupine Gold Mines) into a second century,” Marc Lauzier, general manager at PGM-Goldcorp told Timmins Today.
Dome is one of the oldest operating gold mines in North America and one of the other two assets — Hoyle Pond and Hollinger open pit — that are part of the Porcupine operation.
While Dome has been what Goldcorp calls a “prolific” gold producer since it began production in 1910, reserves are declining fast. That leaves Porcupine with the Hollinger open pit, set to shut down by 2019, the Hoyle Pond underground operations and the processing facility, which is fed by all three mines.
The potential large-scale open pit Century mine is expected to be close to its development stage by the time Dome approaches the end of its life, Lauzier said.
Despite having sold quite a few mines recently, Goldcorp expects to produce approximately 2.5 million ounces of gold in 2017 and has set itself some ambitious targets for the next five years.
The Vancouver-based miner expects gold production to increase 20% to approximately 3 million ounces, excluding potential production from its Canadian projects and its NuevaUnión joint venture in Chile.
Beside Moneta Gold Mine property is Hollinger Gold Mines. Lord Conrad Black has been the major owner of Hollinger Mines for many years. The large Hollinger Mines underground workings butt right up to Moneta Porcupine Mine border -
Recently Lord Conrad Black was at Gold Show in Vancouver and questioned by Kitco about what he was thinking about that the dollar again be backed by: A Gold Standard return? Here’s how Lord Conrad Black sees it - 27,421 views • Jan 21, 2020
$graphic image of billionaire investors stacking bars of gold in a large vault “Billionaire Sam Zell says concerns over U.S. inflation and the dollar have led to his purchase of gold as a hedge for the first time last year.
‘When you see the debasement of the currency, you say, what am I going to hold on to?’ Zell says in an interview on ‘Balance of Power.'”
$Monument Mining/Odyssey (TSXV:MMY) sees gold Mining TSXV:MMY $59.21M
Brieanna McCutcheon Markets Reporter brieanna.mccutcheon@themarketherald.ca 05 May 2021 15:30
$Monument Mining (TSXV:MMY)(MMTMF) producing GOLD @ one of the lowest
average production cost :-)) of thousands of GOLD Bullion Bars -
(if you find a comp. producing GOLD for less; please, tell me)
$The Tuckanarra Gold Mine project is one of three significant land holdings that make up Monument’s Murchison Gold Mines Project.
Burnakura, Gabanintha and Tuckanarra are within the Archean Meekatharra-Wydgee greenstone belt of the Yilgarn Craton.
All have high-grade gold potential. Given priority to Burnakura and Gabanintha, 80 per cent of Tuckanarra interest was sold to ODY last December to advance exploration.
$Monument remains with 20 per cent free carried interest of no cost
exploration expense until a decision to mine is made :-))
plus a 1 per cent net smelter return royalty over
Odyssey’s 80 per cent interest. :-))
and Monuments Murchison State Of Art Modern Mill will do the
Processing of concentrate to get the Mother Lode GOLD bullions - IMO!
And ODY may get access to Burnakura Mill for their production subject to commercial terms?
Monument Mining is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia.
Its experienced management team is advancing the Murchison Gold Mines Projects comprising Burnakura Gold Mines & Gabanintha God Mine Project and
Tuckanarra Gold Mine Project JV (20 per cent interest) in the Murchison Gold Mines area of Western Australia.
$Monument Mining (TSXV:MMY) Has Started Au-BULL RUN Back UP Long Hike UP To The Old BULL TOP - :-))
$Monument Mining (TSXV:MMY) Upside Breakout Close At Hand Will Create Major Fireworks In The Gold & Silver Markets May 03, 2021
Today one of the greats in the business told King World News to expect fireworks in the gold and silver markets as an upside explosion is close at hand.
Great Day For Gold & Silver May 3 (King World News) – James Turk: It’s been a great day for the precious metals, Eric. And I will add that it is long overdue…
As usual, the metals were stuffed last week for the usual reasons – option expiry, the FOMC meeting and month end marking-to-market. So it is good to see them come to life today, particularly because many markets around the world are closed for May Day celebrations.
What’s important from today’s action as I see it, is that some technical indicators are kicking in. Also, try as they might, the shorts could not break the precious metals last week....
$More states pushing to make gold and silver legal tender – former U.S. Mint director (Pt 2/2) 9,420 views•Apr 30, 2021
$NEWS Monument Commences Flotation Plant Work at Selinsing Gold Mine April 27, 2021 Vancouver, B.C., April 27, 2021,
$Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to announce commencement of the phase 1 Selinsing Sulphide Gold Project by adding a flotation plant to the existing processing plant, which will produce marketable gold concentrates from the sulphide ore at Selinsing Gold Mine in Pahang State, Malaysia.
CEO and President Cathy Zhai commented: “Monument has completed the restructuring of its mineral asset portfolio by spinning out the Mengapur base metals project.
This enables us to focus on development and funding of the gold portfolio.” She added: “We plan to spend up to USD$20 million first to build a flotation plant for saleable gold concentrate, the proceeds from it can be used to add the planned bioleaching plant to produce gold bullion should an economic case be demonstrated by then.”
The flotation construction comprises (1) Project economic validation aimed to optimize flotation design completed in the feasibility study, to produce saleable gold concentrate;
(2) Detailed flotation design and engineering;
(3) Procurement; (4) Construction and commissioning to deliver the final plant; and
(5) Mine development.
The flotation construction team has been organized including project management, engineering, procurement and administrative support, directly supervised by a newly recruited Project Manager, who has 20 years’ experience in project management, construction and engineering.
$Key milestones and timelines for the project are as follows:
Flotation testwork (February-May 2021) Flotation pilot plant testing (June 2021 onwards); Flotation plant procurement starts (June 2021); Flotation plant construction starts (Late August 2021) Flotation plant construction completion (April 2022) Gold concentrate production commences (June 2022) Please refer to the video “Update on Flotation Plant Work at Selinsing Gold Mine” at the video section of the Monument Mining website:
The project economic validation was initiated three months ago at the on-site laboratory using sulphide samples collected from Buffalo Reef. It is to confirm the flotation reagent regime, evaluate and maximize the economics of the gold concentrate product that can be achieved through the sizing of flotation cells and the number of cleaning stages.
Orway Mineral Consultants (WA) Pty Ltd. (“Orway”) has been engaged to design and monitor the test work, and provide a conceptual design targeting completion in May 2021. Bureau Veritas,an independent certified laboratory has been chosen to carry out the lab work.
Both companies are located in Perth Western Australia.
Flotation On-site Testwork
$The testwork to date at the Selinsing on-site lab has achieved an acceptable gold concentrate with recoveries of 83–92%, containing around 30-45 g/t of gold on composite samples of Buffalo Reef fresh and transition materials.
$Initial marketing studies using the in-house flotation data have indicated that concentrate grades of 30 – 35 g/t Au may be preferred.
The test results achieved for samples of Buffalo Reef Central 2 (“BRC2”) and Buffalo Reef Central 3 (“BRC3”) transition and fresh sulphide material are summarized in Table 1.
Table 1: Selinsing Site Flotation Test Results
1 Note ex....paerl posted April 29, 2021 02:48 pm by deiwel (94) again we have a paerl here, only with murchinson as exploration we can agin 300% , and not forgot we are producer and we have cash flow rate and reply
$Monument Commences Flotation Plant Work at Selinsing Started New Development to get much more Processed GOLD Produced for great future!
their cash on hand + $10mil of unsold gold (around usd$50 mil total cash equiv) is still higher than their current market cap of cdn$52mil at 15.5 cent shares.
crazy that a company is selling for less than its cash. not needing to raise funding for this project makes MMY extremely undervalued. by invest234
Promotional Activities
Today's video by Cathy et al was OK by evidential standards .
It was nice to see that all presenters appeared to be Malaysian, which is as it should be.
One of my best professional colleagues and a very good friend, since deceased, was from Malaysia. He was a nationalist , which basically, we all are.
However, investor markets are never nationalist but diversified internationalists.
As to Monument, its largest shareholders by shares held are European and North American.
So, from that perspective , today's Video in English, looked too scripted and Cathy's zeitgeist lacked reality karma. Not really her fault but actual reality. by nozzpack
$Videos; Update on Flotation Plant Work at Selinsing Gold Mine - April 2021
$Patient Gold & Silver Bulls Are Going To Be Great Rewarded :-)) April 23, 2021
$Monument Mining (TSXV:MMY) This company is worth 7-8 times what it trading for @ current bargain price :-)) it is now set up for monster upside in 2021! :-)) IMO!
$News Release; Monument Appoints Hugh Bresser to Chief Managing Geologist April 19, 2021 View PDF Vancouver, B.C., April 19, 2021,
$Monument Mining Limited (TSX-V: MMY)(MMTMF)(FSE: D7Q1) “Monument” or the “Company” is pleased to announce the appointment of Mr. Hugh Bresser to Chief Managing Geologist.
“I am very pleased to have Hugh Bresser join us as Chief Managing Geologist at this very critical time when we completed the restructure of our mineral asset portfolio and committed to developing Murchison Gold Mines towards being a cornerstone project”, remarks Cathy Zhai, President & CEO of Monument Mining, “I believe his enthusiasm in gold discovery, extensive experience in mineral asset development and determination to lead the team building high performance will make a significant difference in the progress of our Murchison project.”
Mr. Bresser has built a 30-year career in the minerals industry focused on exploration, identification, acquisition and development of economic ore deposits, utilizing conventional and unconventional targeting and exploration strategies in combination with a commercial understanding of minerals economics and the resource industry cycle in Australia, North and South America, Asia and Europe. His work experience ranging from junior, mid-cap miners and majors provides a strength and depth of understanding of risk and capital management, including South 32 Ltd, Pancontinental Mining Ltd., P.T. Billiton Indonesia, Billiton Exploration Australia Pty. Ltd., and various roles at BHP. He also was the managing director at Overland Resources Limited and the principal consulting geologist at Milagro Ventures Pty. Ltd.
Mr. Bresser holds professional memberships and affiliations in MAusIMM, MAIG, MSEG, MGSA, graduated from James Cook University with a BSc. honors degree in Metalliferous and Economic Geology in North Queensland and holds an MBA from Mt Eliza Business School in Melbourne, Australia.
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 also advancing the Murchison Gold Projects comprising Burnakura Gold Mine, own 100% Gabanintha Gold project (100%) and Tuckanarra Gold project(20% carried 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;
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
$Monument Mining Ltd. (TSXV:MMY)(MMTMF) Very nice Gold Project Presentation of Perangih open pit gold mines;
Peranggih exploration is carried out in three separate zones within the main regional structure: 1. Peranggih South open gold mine pit, 2. Peranggih Central gold mine open pit , and 3. Peranggih North open gold mine pit;
Peranggih Area Drill hole Map
$Monument Mining has undertaken a diamond drilling campaigns; started in March 2014, with 21 holes completed for over 2,007m.
Oxide trenching, pit geological mapping, surface sampling, and initial geological modeling program were executed during 2016 and 2017.
A subsequent close space 5m x 5m Percussion Rotary Air Blast (RAB) drilling program, 2,780m for 298 holes, was carried out in August 2017 at the Central zone to test 150m strike length x 80m width of the mineralization.
This program initially indicated over 38kt @ 1.00g/t Au with a broad 15m-20m wide high-grade zone and multiple isolated high-grade zones, surrounded by more grade gold mineralization.
It proved the presence of disseminated gold in the breccia matrix.
It is noteworthy that grade control areas for mining bench construction is much larger than the two starter pits in Peranggih South.
Grade control was conducted within the high grade zones.
This indicates that the final pit size in Peranggih South will be much larger than currently developed.
The average pit at Selinsing produced 50,000 ounces.
Its not unreasonable that these two starter pits in P South could reach that level of production + more.
Currently, Peranggih Central has been grade controlled but the pit has to be ready for production.
This area the management conservative estimated 20,000 to 30,000 ounces in 2018 which they reported had increased by 44 % by early 2021.
It would seem that this third pit in P Central could also produce up to 50,000 ounces + more.
Peranggih North has been too sparsely drilled to judge productivity, but it is also a high grade area - so another 3rd pit might be developed there.
Mentique adjoins closely with Peranggih. It has two high grade zones extending at strike by 1.8 km.
The drilling as been done at Peranaggih will make more gold productivity.
The same setting and lithology and contiguous with Perangghi, the chances are high that Mentque could contain two more oxide open pits mines.
$SUMMARY Ex....
Conservative dividing by 2 ( 25,000 ounces per pit ) , RE: Peranggih open pit gold mines;
Peranggih will be a major contributor to increased oxide production - in the coming years and being decent grade oxides - will boost recovery levels , thereby reducing cash costs.
$45 million cash in hand approx
That puts MMY at a .135 cent book value, cash only.
Our operational property and Australian lands with mill have no value in our share price today.
This will have to change or some entity will take this company.
MMY needs to show the market its value.
We are 10 x under valued! By Tradeup20202025 (15) @ sth
$Monument (MMTMF)(TSXV:MMY) announces sale of its Malyasian subsidiary Mining TSXV:MMY $47.70M
Simon Druker Markets Reporter simon.druker@themarketherald.ca 08 April 2021 16:00
Monument Mining Limited (MMY) has closed a transaction to sell its 100 per cent interest in Monument Mengapur, its Malaysian subsidiary
The company sold Monument Mengapur to Fortress Minerals Limited
Monument Mengapur owns the Mengapur Copper and Iron Project in its entirety
The Mengapur Project is located in Pahang State, approximately 75 kilometres northwest from Kuantan Monument Mining is unchanged on the day, with shares trading at C$0.12 at 1:10 pm ET
Monument Mining Limited (MMY) has closed a transaction to sell its entire 100 per cent interest in Monument Mengapur, its Malaysian subsidiary.
The company sold Monument Mengapur to Fortress Minerals Limited.
Monument Mengapur owns the Mengapur Copper and Iron Project in its entirety.
The Mengapur Project is located in Pahang State, approximately 75 kilometres northwest from Kuantan.
The sale of the Mengapur Project is part of Monument’s corporate restructuring to focus on the development of the company's gold projects in Malaysia and Western Australia.
Under the terms of the agreement, Monument received US$30 million cash consideration in full.
The deal also entitles Monument to a royalty of 1.25 per cent of gross revenue on all products produced at the Mengapur Project.
A finder’s fee of US$600,000 was paid out from the gross proceeds.
Proceeds from the transaction will be used for corporate and future gold project development.
Founded in 1997 and based in Vancouver, Monument Mining Limited is an established Canadian gold producer that operates the 100 per cent owned Selinsing Gold Mine in Malaysia.
Gold Price: Still on Track for $3,000, Another Shot Is Coming Says John Doody 37,911 views •Mar 24, 2021
SmallCapPower 5.72K subscribers In this interview at the PDAC 2020 convention, SmallCapPower spoke with Monument Mining Limited (TSXV:MMY) President and CEO Cathy Zhai.
$Monument Mining has been successfully producing gold in Malaysia for the past 10 years and now has a promising development project in Western Australia.
Find out more about Monument Mining’s plans for 2020 by watching our interview.
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
“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.”
$MMY Heap Leach Production Potential of Murchison;
$Kentor has done a decent analysis of the heap leaching potential of the lower grade ores at Murchison.
As far as I know, we have the necessary heap leach equipment on hand at $Burnakura for 2 million tons per year.
I used to own GGD which heap leaches very low grade tailings .....less than 1 gm per ton Agglomeration was necessary, as recoveries were greater once the head grade ore was agglomerated with concrete. However, agglomeration seems to be not needed very much for Burnakura ore.
The other parameter is leach cycle time......the time required for the gold to be leached out of the ore once placed on the heap pad. I used 2 cycles per year.....ie about 150 days to maximize recovery of gold.
However, Kentor shows about 24 days which I think must mean something else , as that cycle is quite rapid.
So I use 2 cycles per year Of 500,000 tons of auriferous ore which means 1 million tons per year.
I will use an average of 0.9 gms per ton as head grade of the ore placed on the heap leach pads.
So, that means 900,000 grams of contained gold on the heap leach pads per year.
Recovery rates is about 90% for this grade of ore, so we end up recovering about 800,000 grams of gold per year, which divided by 31 gms per ounce means an annual production of about 25,000 ounces per year .
This is quite close to the 30,000 ounces recovered/ year by Indee gold which used this same leach equipment which was acquired by Kentor.
So, combining 40,000 ounces of high grade production from underground ore through the Burnakura mill @ 300,000 tons per year.....see my previous post..and 25,000 ounces of the lower grades from heap leach, we have about 65,000 ounces of production per year .
Heap leach is cheaper than milling for obvious reasons .
So an AISC of $1000 per ounce for the two combined production methods seems quite reasonable . @$1800 POG, we are excess cash flowing about $50 million per year .
Our neighbour free cash flows $80 million per year on 95,000 ounces .
This is good agreement . KRR trades at 5.5 times its free cash flow.
This would imply..but degraded 4,5 times , for lower production ..a fair value of about $225 million for our Murchison production, employing fully our current milling and heap leach facilities .
But, we have in addition , that rich gold copper resource at the Yagahong deposit of Gabathinia along with its other 6 pits none of which have been fully explored or the possibility of finding supergene ore.
So, our Murchison assets have superb value at current POG.
It's my analytical opinion, that the Greatest value of our Murchison assets would accrue to us shareholders by spinning it out to us as a new public listing, including the Tuckanara seed capital and JV , allocated perhaps 80% to shareholders and 20 % to our parent company.
Its a win win situation
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! :-) )
Way undervalued and oversold - 5 bagger + + + + ? or more - :-))
$Monument Mining (TSXV:MMY) Photo Gallery - well they growing with new great discovery of plenty more gold ore to increase the ore reserve with good drilling results to be mined many future years the weather is good no curtain needed - :-))
$1,000th Gold Bar Pour Produced by MMY; Photo Gallery :-)) It's a great Mother ore start;
News Releases Monument Reports First Quarter Fiscal 2021 (“Q1 2021”) Results November 16, 2020 View PDF Gross Revenue of $5.92 Million and Cash Cost of US$923/Oz
Vancouver, B.C., November 16, 2020,
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its first quarter production and financial results for the three months ended September 30, 2020. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented: “Fiscal 2021 started with new challenging as a global COVID-19 pandemic carried forward from fiscal 2020. The Company has fully resumed its production in the first quarter from eight-week’s mining ban at Selinsing in the first quarter, the Selinsing Sulphide gold plant upgrade is however still pending for financing.
“On the other hand, gold price surged to record high and the gold mining sector was very active in Western Australia, gold mining producers enjoyed high production margins, and investment is flowing into that region for gold explorations.
The Company continues try hard to access to financing, and it is very closely monitoring the market and looking for divesting of base metal portfolio to focus on primary gold assets, as well as new corporate development opportunities to lift up market value for the best interest of its shareholders.”
First Quarter Highlights:
3,504 ounces (“oz”) of gold produced (Q1 2020:
4,852oz) with 3,100oz of gold sold for gross revenue of $5.92 million (Q1 2020: 4,323oz of gold sold for revenue of $6.34 million);
Gross margin of $3.06 million (Q1 2020: $2.65 million);
Average realized price per ounce, excluding prepaid gold sales, of $1,909/oz (Q1 2020: $1,475/oz);
Cash cost per ounce of $923/oz (Q1 2020: $855/oz);
All-in sustaining costs per ounce (“AISC”) of $1,055/oz (Q1 2020: $1,158/oz);
Peranggih grade control drilling after positive trial mining results identified 58,662 tonnes at 0.93g/t Au materials;
Production resumed at Selinsing after lifting eight weeks mining ban in last quarter during COVID-19 pandemic Entering into a Tuckanarra JV arrangement with Odyssey subsequent to the quarter opens corporate development opportunities in WA region.
RE:Substantial Increase in Gold ...Stage 1 open pit Peranghi nozzpack @ sth. wrote:
Based on the 2017 GC drilling program which identified a high grade zone measuring 150 m by 80 m in P North ( see Fig 1 in link below ) management estimated this this GC zone contained 20,000 to 30,000 ounces....see link to 2017 NR below.
The recently completed 5002 m GC drilling of this Zone elicited this statement from management..
The GC delineated indicates;
54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
So in just this small zone, we now have at least 31,000 to 47,000 ounces of even higher grade gold within a lesser volume of ore.
I had earlier missed this implication .
They are now telling us that we have a significant new gold deposit at Peranghi whose size will eventually describe a substantially new oxide resource once P North and the other 3 high grade zones are fully explored.
My earlier analyses of these 4 zones showed in excess of 120,000 ounces.
This discovery completely alters the future perspective for mining at Selinsing.....no rush to fund Biox as we have new and substantial sources of high grade oxides for years to come
xxxxxxxxxxxxxxx
The Peranggih phase 1 GC drill program was completed during Q1 2021 with additional 1,466 meters drilled bringing total drilling to 5,002 meters.
The drill program identified a total of 58,662 tonnes at 0.93g/t Au, which increased the mining inventory.
The GC delineated indicates;
54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
A further GC drill program was planned;
The Peranggih phase 1 GC drill program was completed during Q1 2021 with additional 1,466 meters drilled bringing total drilling to 5,002 meters.
The drill program identified a; total of 58,662 tonnes at 0.93g/t Au, which increased the mining inventory.
The GC delineated indicates; 54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
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 main 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 are listed in
Appendix A and Appendix B.
Previous activities plus more recent 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 con
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