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.
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."
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
For further information: visit the company web site at www.monumentmining.com or contact: Richard Cushing, MMY Vancouver, T: +1-604-638-1661 x102, [email protected]; Wolfgang Seybold, Axino GmbH, T: +49 711-82-09-7211, [email protected]