- Monument Mining Limited (MMY) has announced significant results from reverse circulation (RC) drilling as a part of the Phase 2 exploration program at Burnakura
- The drilling program is part of a two-year exploration program to test the potential for gold
- The Phase 2 drilling program commenced in November 2021, following the completion of the Phase 1 program in August 2021
- Reverse circulation drilling has encountered multiple mineralization horizons at depth, indicating gold mineralization
- Monument Mining Limited is a Canadian gold producer which wholly owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in Western Australia
- Monument Mining Limited closed trading at $0.11 per share
Monument Mining Limited (MMY) has announced significant results from the Phase 2 exploration program at Burnakura.
Burnakura is one of the primary Murchison Gold Projects in the Meekatharra area, Western Australia.
As part of a two-year exploration program to test the potential for gold, the Phase 2 drilling program commenced in November 2021, following the completion of the Phase 1 program in August 2021.
The Phase 2 RC and DD drill programs were completed in April 2022. The remaining assay results from the Diamond (DD) drilling component are anticipated over the coming weeks.
Reverse circulation drilling has encountered multiple mineralization horizons at depth, indicating gold mineralization down-dip and the potential for additional underground economic mineralization at the NOA 1 deposit.
“We are encouraged by these early promising RC results of the Phase 2 program targeted at testing the depth extent of economic mineralization underneath NOA 1, NOA 2, NOA 4-6 and NOA 7/8,” stated Monument’s President and CEO, Cathy Zhai.
“These results strengthen our resolve that the NOA structure is highly prospective with the potential to expand and upgrade the existing Mineral Resource, which remains open at depth,” she added.
The Phase 2 drilling program followed up the Phase I program to identify additional economic gold mineralization at Burnakura Project, Western Australia.
The company drilled 18 RC and DD holes for 5,595.1m against a planned total of 5,546m.
Differential GPS techniques were used to survey all drill collar locations accurately. A downhole survey using the gyroscopic method was undertaken for all drill holes and stored in the geological database.
Monument’s Murchison Gold Project comprises 170km2 of highly prospective Archean Greenstone.
Monument Mining Limited is a Canadian gold producer which wholly owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia.
Monument Mining Limited closed trading at $0.11 per share.