VANCOUVER, Sept. 30, 2015 /CNW/ - September 24, 2015,
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) "Monument" or
the "Company" reports that it has completed construction of the
Intec Pilot Plant and placed it into commissioning at the Selinsing
gold mine site in Malaysia. The
pilot plant was built as a part of the Intec Trial Testing Program
to exploit Intec's sulphide dissolution and gold recovery
technology using the existing Selinsing Gold Processing Plant under
the Interim Intec license. An exclusive license of Intec Technology
over South East Asia ("SEA")
territory will be granted upon success of the Commercial Intec
Trial Testing Program described below.
The pilot plant has been constructed in-house using local
Malaysian fabrication firms with technical and engineering
specifications supplied by DCS Technical Services Pty. Ltd. of
Australia, the main technical consultants for the Intec
Process. The design of the pilot plant circuit is based on the
first stage extensive metallurgical and chemical laboratory test
work completed by the in-house Monument Research and Development
("R&D") team, which has successfully demonstrated the technical
ability of the Intec technology to dissolve sulphides and recover
gold from the sulphide material on a bench scale test work program
in the Selinsing laboratories.
The pilot plant trial testing work will run for several weeks
under different parameters including using different sulphide feed
stock materials. The purpose is to demonstrate two main aspects of
the process; that the bench scale batch test work results can be
duplicated in a continuous flow process and that the process can be
successfully scaled-up. Photos of the pilot plant will be
available on the Company web site shortly after the tests
conclude.
The Company will consolidate all technical results from pilot
plant test work in a comprehensive internal technical report by the
end of November 2015. In order to satisfy both the
independence and technical QA/QC aspects of the results, Orway
Mineral Consultants (WA) Pty Ltd of Perth, Western
Australia have been engaged to oversee and observe the pilot
plant operation and critically review technical and financial OPEX
and CAPEX results for Monument by end of December 2015. It is
anticipated that the results of the Intec Pilot Plant trial test
work will be included in an updated NI43-101 technical report,
targeted for release by end of April or early May, 2016.
The parameters identified through the stage II pilot trial
testing work will form a base for a further stage III
"demonstration plant test work program", following by a stage IV
"full scale commercial plant construction". The test work
results from each stage will be evaluated and "go" or "no go"
decision to a next stage will be made at the sole discretion of
Monument upon satisfaction of the technical and economic
outcomes.
The Monument R&D team have been working on the Intec program
for more than 12 months, having started before the Intec Agreement
was signed, as part of their due diligence on the process.
The Intec Process has been the focus of Monument's effort to
provide a technology that has the ability to process sulphide gold
material economically at the Selinsing gold mine – and potentially
elsewhere. If successful it will extend the life of the project
using the existing Selinsing process facility and infrastructure
well into the future. Based on the Intec success in sulphide
dissolution and gold recovery results, the test work program will
then be extended to exploit Intec technology to sulphide copper and
other base metals.
Michael John Kitney, Ass Met,
M.Sc., MAusIMM has reviewed 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