Monument Mining has announced an NI 43-101 compliant mineral resource estimate for the Alliance/New Alliance areas of the Murchison Gold Project in Western Australia. An indicated resource has been reported of 1.13 million tonnes @ 2.2 grams/tonne gold for 80,400 ounces and an inferred resource of 5000 tonnes @ 2.2 grams/tonne for 3200 ounces.
The Murchison project is owned by Monument through its wholly-owned Australian subsidiary, Monument Murchison and consists of the historical Burnakura and Gabanintha projects.
Monument’s CEO Robert Baldock says, “An inferred and indicated mineral resource estimate for the Alliance/New Alliance deposits has been received from independent resource consultants Cube Consulting after incorporating the results from the first 102 holes drilled. It represents a 90% increase in the indicated gold ounces as compared to the historical estimate inventory, as a result of improved confidence in the grade continuity of the infill and extensional drilling completed by Monument.
“The total contained gold ounces have increased by 15% as compared to the historical resource for the project. This represents a very positive initial outcome toward the preparation of a preliminary economic assessment in respect of the Alliance/New Alliance deposits. The company is now undertaking a continuing program of ongoing exploration over the remainder of the historical resources that were acquired in February, 2014.”
The Alliance and New Alliance open pits lie about 2km south of the NOA line of open pit and underground workings. Two tenements cover the Alliance and New Alliance deposits, which have been mined intermittently since the 1980s for shallow oxide gold mineralization to a 60-80 metre in vertical depth.