Monument Mining Ltd Launches $2.5M Drilling Program to Expand Selinsing Gold Mine Resources
- Monument Mining Ltd. has initiated a $2.5 million drilling program at Selinsing Gold Mine to expand resources.
- The program aims to identify new mineralized zones, particularly at Buffalo Reef, enhancing the mine's operational lifespan.
- Monument is committed to sustainable growth, aiming to convert discoveries into reserves and improve resource base responsibly.
Monument Mining Launches Drilling Program to Expand Selinsing Gold Mine Resources
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) has launched an ambitious expansion drilling program at its Selinsing Gold Mine, located in Pahang State, Malaysia. The initiative is backed by a financial commitment of USD 2.5 million and aims to bolster the company’s gold inventory while extending the mine's operational lifespan. The drilling program, scheduled for completion by March 2026, aligns with Monument’s strategic focus on sustainable growth, risk mitigation, and minimizing shareholder dilution. The recent feasibility study indicates total resources of 16.1 million tonnes at an average grade of 1.6 g/t Au, translating to approximately 836,000 ounces of gold, including 525,000 ounces situated outside the current production pits.
The focus of the drilling program is to identify and delineate new mineralized zones beyond the existing production pits. This tiered approach prioritizes high-potential areas for resource discovery, particularly within the Buffalo Reef area, which shows substantial potential for expansion at depth. Additionally, the Selinsing Pit is reported to contain a robust mineralized envelope that remains open for exploration. Utilizing Monument's in-house drilling team and refurbished drilling rigs, the company plans to conduct aggressive exploration to uncover new mineral resources. The overarching goal is not only to discover additional resources but also to convert these into reserves, thereby laying a solid foundation for future mine expansion.
Monument's expansion drilling program is a significant step towards updating the Life of Mine (LoM) plan based on a recent mine expansion study conducted by Snowden. This study evaluates potential resource discoveries without the constraints of lease boundaries or existing infrastructure. By focusing on mineralization in areas previously unexplored, Monument aims to incorporate additional resources into future pit designs, enhancing the viability and longevity of the Selinsing Gold Mine. The successful execution of this drilling initiative reflects Monument's commitment to sustainable mining practices and its strategy for long-term operational growth.
In addition to the drilling program, Monument Mining Limited continues to emphasize its dedication to sustainability and resource replacement within its operations. The company's proactive approach to exploration not only aims to improve its resource base but also reinforces its commitment to responsible mining practices. As the mining industry faces increasing scrutiny regarding environmental impacts, Monument’s focus on sustainable growth positions it favorably within the sector.
Overall, Monument’s drilling program at the Selinsing Gold Mine represents a strategic investment in its future, aiming to enhance resource availability while adhering to sustainable mining practices.