Monument Announces Commencement of Expansion Drilling Program at Selinsing Gold Mine

Core Viewpoint - Monument Mining Limited has initiated an expansion drilling program at the Selinsing Gold Mine, aiming to enhance its gold inventory and extend the life of the mine through sustainable practices and reinvestment strategies [1][2]. Mine Expansion Strategy - The drilling program focuses on identifying new mineralized zones beyond the current production areas, which will support an updated life of mine (LoM) plan [2]. - Successful exploration in these areas is expected to allow for the inclusion of additional mineral resources in future pit designs [2]. Financial Commitment and Timeline - The initial drilling plan involves a cash commitment of USD 2.5 million, with an expected completion date by the end of March 2026 [3][7]. - The program is designed to discover new mineral resources and convert them into reserves [3]. Resource and Reserve Details - The most recent feasibility study indicates total resources of 16.1 million tonnes at an average grade of 1.6 g/t Au, equating to approximately 836,000 ounces of gold [4]. - Of these resources, 525,000 ounces of gold are located outside the current pit shells, requiring additional land acquisition for conversion to reserves [5]. Exploration Potential - Monument anticipates significant exploration upside, with detailed drilling plans to be announced once finalized [6]. - The program will include aggressive extensional drilling and geological interpretation to support future development [8][22]. Geological Insights - The Buffalo Reef area remains open at depth, indicating potential for further mineralization [9]. - Drilling gaps between current pits suggest additional shallow mineralization opportunities, which could support near-term open-pit extension planning [10]. Operational Readiness - The company has reassembled its in-house drilling team and refurbished drilling rigs to support the expansion program [19]. - The drilling will utilize a combination of reverse circulation and diamond drilling techniques to optimize resource discovery [19][22]. Commitment to Sustainability - Monument Mining is committed to sustainable practices, emphasizing environmental management and social responsibility in its operations [21].