RESULTS from exploration and delineation drilling at Monument Mining’s Buffalo Reefs deposit have identified additional gold mineralization which is set to extend the life of the Selinsing project. Best recent results are 33 metres @ 1.23 grams/tonne gold in oxide and 13.5 metres @ 3.83 grams/tonne in sulphide.

“These results, which are consistent with previously results, show that we have successfully targeted and identified additional oxide and gold mineralization at Buffalo Reef,” says Monument’s vice president exploration Todd Johnson. “We expect our next NI 43-101 resource estimate, anticipated in the second quarter of 2014, will show improved reserves and resources in part because of the inclusion of these results.”

Chief managing geologist Ian Bruce adds, “The local geology and drilling staff continue to work hard to identify additional near-mine mineralization at Buffalo Reef and Selinsing for potential development. We continue to streamline the logging and sampling process at site to help achieve a faster assay turnaround time from the primary certified commercial labs.”

Drilling continues to expand mineralization at Buffalo Reef, Selinsing, and the adjacent FELDA lands with two diamond drills owned and operated by Monument. The drilling is focused within and adjacent to the operating Buffalo Reef South open pit and north of the operating Selinsing open pit gold mine.

Other results in oxide are 7.3 metres @ 2.37 grams/tonne, including 3.0 metres @ 5.25 grams/tonne at Central Buffalo Reef and 20.0 metres @ 1.01 grams/tonne at North Buffalo Reef. Other sulphide results are 13.5 metres @ 3.77 grams/tonne under the South Buffalo Reef pit, 4.0 metres @ 5.51 grams/tonne, including 2.0 metres @ 10.25 grams/tonne at North Buffalo Reef, and 4.0 metres @ 4.12 grams/tonne and 10.0 metres @ 1.62 grams/tonne at Central Buffalo Reef.

Monument has also undertaken a research and development program to provide alternate solution for treatment of sulphide ore at its Selinsing processing facility. The company has found a viable processing route for the sulphide material by producing a gold concentrate sufficiently high in gold grade through flotation facilities, which is acceptable to buyers in terms of contaminants and other quality issues.

Monument is now working on refining the costs of producing the concentrate, researching various packaging, handling and shipping alternatives, and negotiating with a number of smelters in the South East Asian region and around the world.

At the Mengapur Polymetallic Project the company has built an on-site R&D laboratory to develop and prove a viable flow sheet circuit for recovery of magnetite from fresh rock. If successful, it plans to build a magnetite concentrate processing plant at Mengapur to produce marketable-grade magnetite from sulphide mineralization.