Resource World Magazine

D E C E M B E R / J A N U A R Y 2 0 1 5 www.resourceworld.com 43 a u s t r a l i a n u p d at e G r e g B a r n s Monument Mining acquiring australian assets Life is not easy for would-be gold produc- ers. The gold price has been falling and much of the investment media seems to have turned its back on the precious metal. But smart investors, insightful market and media commentators know that you should never shun gold, even when the stars are aligned against it. That's why companies like Monument Mining [MMY-TSXV], which is currently acquiring gold assets in Australia, are worth keeping an eye on, even if the gold price is struggling. Monument Mining is developing proj- ects in Western Australia's rich Murchison goldfield, 765 km from Perth. The com- pany purchased its Murchison Project in 2013 and closed a deal to buy the nearby Tuckanarra Project at the time of writing. Monument Mining gave shareholders a Christmas present last year when it settled on a deal to acquire, for A$15 million cash, the Burnakura and Gabanintha projects, together making up the Murchison Project. The deal brought with it, the company says, "a historic resource for Burnakura and Gabanintha of 546,000 ounces of gold, a fully operational gold processing plant with a gold room, capable of 260,000 tonnes/ year; a 118-man camp with messing and single man accommodation facilities, vari- ous office buildings, maintenance facilities, an assay lab, core farm, first aid station and a heap leach facility." On August 27 this year, Monument Mining released an update on the Murchison Project, and some encouraging drill results were the highlight. The compa- ny's Exploration Manager, Lisa Wells, said that drill holes "targeting extensions to the historical mineralization which trend along the eastern side of the Alliance Pit and the western side of the New Alliance pit have increased the mineralization areas from this round of drilling. Drill hole 14MRC013 produced an excellent result of 3m of 19.58 g/t gold from 78 to 81m including 1m of 53.2g/t. In addition a number of explora- tion drill holes in previously untested areas have shown up with mineralization indicat- ing the potential for the area to host further mineralization. The best intercept revealed 6m of 2.62 g/t. These results are better than expected." Drilling was designed to validate histori- cal resources, increase grade and geological continuity of the mineralization through infill drilling and to test for resource exten- sions and define further targets. A scoping study for the project is underway and drill- ing will feed into that study. Proving that it thinks the Murchison Gold Field is potentially a lucrative one, Monument purchased the Tuckanarra Project about 40 km southwest of the Murchison mill. The project has an histori- cal indicated resource of 1.04 mt @ 1.65 g/t Au for 55.2 K oz and a historical inferred resource of 0.92 mt of 1.51 g/t gold for 44.6 K oz within 11 prospects. In an August 28 2014 announcement, Monument agreed to acquire, for A$2 mil- lion in cash and 10,000,000 shares at C$0.25/ share, a 100% interest in the Tuckanarra Gold Project "consisting of eight explora- tion and prospecting licenses and a mining lease application in the Murchison Mining District containing some 100,000 histori- cal indicated and inferred JORC-compliant ounces of gold." Monument Mining is taking a cautious approach to development of its Western Australian assets and this is sensible given the current gold price. n * Resource World does not sell your information to third parties 709-700 w Pender st., vancouver BC v6C 1G8 Canada Name aDDreSS City prov. poStal CoDe pHoNe e-mail online at www.resourceworld.com or phone 1.877.484.3800 SAVE 50% up to resource World (print and Digital edition) 1 year ($19.95) resource World (Digital edition) 1 year ($9.95) resource World (Digital edition) 2 years ($14.95) resource World (print and Digital edition) 2 years ($24.95) international resource World (print) 1 year ($89.00) renew my subscription canadian subscribers please add applicable sales tax

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