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Monument Announces Significant Drill Intercept at the ANA, Burnakura Project in Western Australia

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Monument Announces Significant Drill Intercept at the ANA, Burnakura Project in Western Australia

 

 

 

 

 

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to announce results of a 309m deep diamond drillhole with RC pre-collar at Alliance and New Alliance 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 programs, 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 mineralization 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) 

 

http://www.globenewswire.com/NewsRoom/AttachmentNg/098001c5-8133-4301-81d8-e276aa388aba

 

 

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 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 ANA 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 BIF which controls the mineralization, is projected to dip to the East. Drillhole 18RCDDH10 tested this favourable horizon approximately 170m 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 predictable. See Table 1 1 for details of the hole, and Table 2 for the drill assay results..

 

 

Table 1: Drillhole 18RCDDH10 details 

 

http://www.globenewswire.com/NewsRoom/AttachmentNg/60284624-b53d-48a2-8d60-f6671bc61dcd

 

 

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 which is a common vector to mineralization. The potential for further repeat parallel mineralization lines will be investigated with a planned follow-up drilling.

 

 

Figure 2: ANA Cross section displaying new diamond drillhole intersection

 

http://www.globenewswire.com/NewsRoom/AttachmentNg/db7cf013-e034-416e-9667-c577ad4f1d9d

 

 

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 the exploration target zone

 

http://www.globenewswire.com/NewsRoom/AttachmentNg/6db730ce-a4d1-444b-8d09-1e85deba1786

 

 

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 delineate 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 mineralization and possible repeats at depth.

 

 

The scientific and technical information in this press release has been prepared 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 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.

 

Posted August 8, 2018

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