Aug 19 2019
Monument Mining Limited, an established Canadian gold, takes pleasure in announcing the initiation of a 3D structural geological study at the Murchison Gold Project. This move is part of an exploration activity under the Murchison development strategy.
Project Location Map (Image credit: Monument Mining Limited)
Monument Mining Limited has a 100% stake in the Murchison Gold Project through Monument Murchison Pty Ltd, its wholly owned Australian subsidiary. The Murchison Gold Project contains the Tuckanarra, Gabanintha, and Burnakura projects in Western Australia.
Background
Monument Mining’s Murchison Gold Project includes a fully operational camp and historical resources of 640,000 gold ounces. Since the acquisition in February 2014 to date, the company has discovered or converted a total of 381,000 gold ounces to the current resources under NI43-101 standards at the Burnakura project alone.
The current Burnakura gold processing plant can now be upgraded for production with a recently designed and renovated three-stage crushing plant, and can be placed into production at Burnakura location.
Over the last couple of years, a number of studies were performed for possible early stage production with encouraging results. On the basis of this, Monument Mining has decided to additionally boost the gold inventory to improve the economic results with an exploration plan, with an aim to look for a greater gold system.
In fiscal 2019, Monument Mining additionally obtained and organized all current and historical geological data. It also concluded the 2D structural geological modeling and interpretation, which has given initial exploration targets. To test the targets, an exploration program has been tabled for management review.
3D Geological Structural Study
The main exploration potential has been identified deep down of the historical numerous open pits and surrounding regions. Following this, a 3D structural geological study has currently been started in an effort to support deep drilling target generation for the drilling project.
Dr Oliver Kreuzer (X-plore GeoConsulting) and Dr Jun Cowan (JunCowan), principal structural geologists, will conduct the study, which includes data analysis, a 3D survey, 3D modeling, as well as reporting at the Gabanintha and Burnakura projects. The study is expected to be concluded in 6 weeks.
As a consequence, the geological structural design would enable the team to establish near-mine targeting for short-term practical drilling to expand resource as well as to create possible targets for the company’s long-term prospect.
So far, mapping with an emphasis on structural measurements has been concluded on the open pits and will be integrated into a 3D structural model. Study results will directly guide and offer targets for a subsequent drilling program.
Apart from the underground Resource potential, a regional targeting study for the latest discoveries is also being performed using current gravity, electromagnetic, and magnetic data improvement filtered by Dr Amanda Buckingham (Fathom Geophysics).
Unique filtering methods are being applied to detect untested structures in conducive settings. Moreover, the targets developed are also anticipated to be drilled.