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We resubmitted our
News Release dated Monday March 3, 2008. As stated in the News Release
below, paragraph 4 has been slightly revised. If you have any
questions regarding this, please do not hesitate to call us at
604-669-2929.
__________________________________________________________________________________________
Monument
Releases Positive Drill Results - Phase II Program at Buffalo Reef
Clarification of Release #3 -2008
(The readers should
read this clarification in conjunction with paragraph 4 of the previous
news release #3 released on March 3, 2008 regarding the status of the
Buffalo Reef resource.)
Vancouver, B.C.
Monument Mining Limited (TSX-V:MMY and FSE:D7Q1) ("Monument" or
the "Company") is pleased to release the first batch of Phase
II assay results from the ongoing exploration program on the Buffalo Reef
Project, located in Malaysia.
"The
results from this program indicate that gold mineralization found on the
Buffalo Reef property is part of a much larger gold camp which stretches
from the Selinsing Gold Mine to the north for over a 4.2 kilometer long
shear zone, The Gold mineralization within the structure is still open
north, along strike and down dip," said Zaidi Harun, Vice President
of Exploration. "Encouraged by these results Monument has
enlarged its land position in the area to cover what it believes are
strategic areas of gold mineralization." (See news release
"Monument Acquires Package of Additional Adjacent Land" dated
January 21, 2008).
The primary objective
of the Phase II drill program is to increase the size of the Buffalo Reef
discovery and at the same time outline the extent of a proposed open pit
in order to optimize the pit design and keep ore dilution to a
minimum. The southern limits of gold mineralization at Buffalo Reef lie
about 500m north east of the proposed Selinsing plant site. Previously
Avocet Mining LLP, a London based senior mining company and former owner
of the Buffalo Reef, had concluded that the oxide material could be
treated successfully using heap leaching techniques. Monument will be
conducting a program of metallurgical test work to determine the
suitability of the oxide material being treated in a CIL circuit at
Selinsing.
The first batch of
Phase II assay results were obtained from mineralized structure found at
the Southern Zone of Buffalo Reef area. The structure is 500 meters long
and up to 70 meters in width. The best intercepts as outlined in
table 1 are related to the easterly dipping shear structure where quartz
veins occur in a pervasive silicified rock. The result shows good
correlation of data between the current drilling and historic assay
database and is expected to significantly improve the integrity of
the historical data. It is the Company's intention to commission a
new report which is intended to contain a resource estimate report.
Table 1:
Significant drill intercepts from MBRRC 22 to MBRRC 36
|
Hole
|
From (m)
|
To (m)
|
Thickness (m)
|
Au (g/t)
|
|
MBRRC0022
|
9
|
12
|
3
|
3.42
|
|
MBRRC0023
|
49
|
59
|
10
|
4.84
|
|
|
includes
|
56
|
57
|
1
|
15.40
|
|
MBRRC0024
|
5
|
6
|
1
|
4.30
|
|
MBRRC0024
|
11
|
17
|
6
|
3.68
|
|
MBRRC0025
|
21
|
23
|
2
|
8.02
|
|
|
includes
|
21
|
22
|
1
|
12.90
|
|
MBRRC0027
|
47
|
58
|
11
|
8.33
|
|
|
includes
|
57
|
58
|
1
|
20.00
|
|
MBRRC0028
|
3
|
6
|
3
|
4.14
|
|
MBRRC0029
|
1
|
9
|
8
|
3.50
|
|
MBRRC0030
|
28
|
34
|
6
|
9.12
|
|
|
|
|
|
|
|
|
|
|
Includes
|
30
|
32
|
2
|
20.15
|
|
MBRRC0031
|
28
|
35
|
7
|
4.51
|
|
|
includes
|
28
|
30
|
2
|
10.22
|
MBRRC0033
|
57
|
60
|
3
|
4.99
|
MBRRC0033
|
66
|
68
|
2
|
2.94
|
MBRRC0035
|
36
|
48
|
12
|
3.22
|
MBRRC0036
|
28
|
36
|
8
|
6.55
|
|
includes
|
32
|
34
|
2
|
10.50
|
|
|
|
|
|
|
|
|
|
|
Holes are drilled
inclined at 60� with azimuth of 270� and are designed to intersect
perpendicular to the mineralization, so that the down hole thickness
reflects the true thickness of the intersection.
Table 2: Drill hole
location summary
Hole
|
East (m)
|
North (m)
|
RL (m)
|
Depth (m)
|
Azim
|
Dip
|
MBRRC0022
|
20,239.58
|
49,679.83
|
855.82
|
54
|
270
|
-60
|
MBRRC0023
|
20,221.37
|
49,661.16
|
855.29
|
66
|
270
|
-60
|
MBRRC0024
|
20,240.79
|
49,661.91
|
854.11
|
54
|
270
|
-60
|
MBRRC0025
|
20,262.52
|
49,660.05
|
848.48
|
30
|
270
|
-60
|
MBRRC0026
|
20,261.98
|
49,642.95
|
848.16
|
30
|
270
|
-60
|
MBRRC0027
|
20,220.52
|
49,641.57
|
851.99
|
72
|
270
|
-60
|
MBRRC0028
|
20,157.48
|
49,677.68
|
869.01
|
66
|
270
|
-60
|
MBRRC0029
|
20,159.54
|
49,654.49
|
865.26
|
60
|
270
|
-60
|
MBRRC0030
|
20,177.56
|
49,642.78
|
859.98
|
60
|
270
|
-60
|
MBRRC0031
|
20,182.57
|
49,658.70
|
858.00
|
66
|
270
|
-60
|
MBRRC0032
|
20,263.43
|
49,622.21
|
844.79
|
80
|
270
|
-60
|
MBRRC0033
|
20,243.29
|
49,621.54
|
845.60
|
96
|
270
|
-60
|
MBRRC0034
|
20,223.61
|
49,619.70
|
845.93
|
35
|
270
|
-60
|
MBRRC0035
|
20,201.25
|
49,618.73
|
847.41
|
51
|
270
|
-60
|
MBRRC0036
|
20,181.20
|
49,602.62
|
847.29
|
36
|
270
|
-60
|
The current ongoing
closed space 20m x 20m drilling program over the main part of the
southern, central and northern mineralization zone is aimed at assisting
in lifting the economics of the Selinsing processing plant.
The RC drill results
from the Phase I program were announced in a news release dated 4
February 2008. In order to complete Phase I program, a diamond drill rig
will be brought in for a 1,400 metre diamond drilling program.
Michael Andrew AusIMM,
of Snowden Mining Industry Consultants Pty Ltd, a qualified person under
National Instrument 43-101, is overseeing the drilling program and
quality assurance and quality control ("QAQC") programs on
behalf of Monument Mining Limited and has reviewed the contents of this
news release.
The above drill
results are part of an ongoing RC drilling program that will be
progressively released to the market as the laboratories perform the
work. The assay work is performed by Ultratrace Pty Ltd Analytical
Laboratories of Perth, Western Australia, a NATA accredited laboratory
which complies with requirements of ISO/IEC 1725:2005.
Robert F. Baldock,
President and CEO
Monument Mining Limited
Park Place,
Suite 500,
666 Burrard
Street
Vancouver B.C.
Canada V6Z 2K8
The TSX Venture
Exchange has in no way approved nor disapproved the contents of this news
release.
Not for distribution to U.S. news
wire services or dissemination in the United
States. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of the information contained herein. Certain disclosures in this
release, including management's assessment of the Company's plans
and projects, constitute forward-looking statements that are subject to
numerous risks, uncertainties and other factors relating to the
Company's operation as a mineral exploration company that may cause
future results to differ materially from those expressed or implied in
such.
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