VANCOUVER, Sept. 28, 2015 /CNW/ - Monument Mining
Limited (TSX-V: MMY and FSE: D7Q1) "Monument" or the "Company"
reports that it has completed the on-site horizontal impact
crushing trials of various pit and underground materials, and has
made progress toward heap leach construction at the Burnakura site,
located at Murchison Region, Western
Australia ("WA").
Monument is now fast tracking mine development on the ground
having completed both crushing trial test work and heap leach
engineering design at the Burnakura Project in Murchison, WA. In
parallel the Company has commenced the 2016 exploration programs to
extend our successes in Alliance and New Alliance resource and
continuity confirmation.
The crushing section of the Burnakura gold processing plant was
originally designed to provide high grade mill feed only. It needs
to be re-engineered in order to crush ore materials extracted from
various open pit and underground mines to feed both heap leaching
and mill facilities. An Impact crusher was hired for trial test
work. To date, samples of the crushed materials have been sent to
Perth based independent
laboratories, we are awaiting technical results. These results
together with all available information previously generated and
collected will be used for the crushing and screening circuit
design.
Simultaneously, Como Engineers ("Como"), a Perth based engineering company has been
engaged to assess the condition of existing crushing, screening and
conveying equipment, and to restore them to good condition as
appropriate. Como will also provide their assessment on CAPEX
and OPEX estimates for the entire heap leach plant including
supervision and assistance with construction and wet-commissioning
of the heap leach plant.
The Company's engineers have being working with Como and have
commenced the first phase of the heap leach construction project,
we are targeting commissioning and start-up of the heap leach
facilities at the Burnakura site before the end June 2016.
Roger Stangler,
Chief Managing Geologist, MEng, MAusIMM, MAIG has reviewed,
supervised the preparation and approved the scientific and
technical disclosure in the news release as a Qualified Person
under NI43-101 standards.
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
Polymetallic 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 300 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.
Robert F. Baldock,
President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
"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 certain 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 uncertainties; 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. Material 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 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 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 assumptions 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. 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.
SOURCE Monument Mining Limited