- Visible gold at Odyssey/Monument Tuckanarra JV Project reinforces exploration targeting at Murchison Gold Project
- A 70m step-out in the eastern extension of the developing bottle dump deposit at the Tuckanarra JV Project located in the Murchison Goldfield
- The results at Tuckanarra confirm Monument’s view that the true potential of the Murchison Project is yet to be defined
- ODY has access to Burnakura mill for their production subject to commercial terms
- Monument Mining is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia
- Monument Mining Limited (MMY) is up 5.88 per cent and is trading at C$0.18 at 1:14 pm ET
Monument Mining’s (MMY) joint venture Partner Odyssey Gold announced that significant visible gold has been intersected in its maiden diamond hole.
The diamond hole is a 70m step-out in the eastern extension of the Bottle Dump Deposit at the Tuckanarra JV Project located in the Murchison Goldfield.
Together with other results, the new finding confirms the strong potential of the Bottle Dump trend to host high-grade gold mineralization.
CEO Cathy Zhai said,
“The recent results from Tuckanarra, whilst very preliminary, confirm and reinforce Monument’s view that extensive high-grade gold mineralization remains to be discovered at Burnakura and Gabanintha.”
“This is an exciting outcome as Monument prepares to commence its exploration program for 2021,” added Zhai.
The results at Tuckanarra confirm Monument’s view that the true potential of the Murchison Project is yet to be defined.
Historical mining operations have exploited the shallow high-grade gold mineralization at Burnakura and Gabanintha through both open pit and underground developments.
The full depth and strike extent of the mineralization within these two systems are still to be tested with mineralization remaining open in many directions at multiple deposits.
The Tuckanarra project is one of three significant land holdings that make up Monument’s Murchison Project. Burnakura, Gabanintha and Tuckanarra are within the Archean Meekatharra-Wydgee greenstone belt of the Yilgarn Craton.
All have high-grade gold potential. Given priority to Burnakura and Gabanintha, 80 per cent of Tuckanarra interest was sold to ODY last December to advance exploration.
Monument remains with 20 per cent free carried interest until a decision to mine is made, plus a 1 per cent net smelter return royalty over Odyssey’s 80 per cent interest.
ODY has access to Burnakura mill for their production subject to commercial terms.
Monument Mining is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia.
Its experienced management team is advancing the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra JV (20 per cent interest) in the Murchison area of Western Australia.
Monument Mining Limited (MMY) is up 5.88 per cent and is trading at C$0.18 at 1:14 pm ET.
