Dear 24h
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February 6, 2008
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We are pleased to forward you our
recent News Release announcing that :
Monument's
Phase I Drilling Program Confirms Previous Drill Results on Buffalo Reef
Project
Vancouver, B.C. Monument Mining Limited (TSX-V:MMY and FSE:D7Q1) ("Monument" or the
"Company") is pleased to announce the first assay results from
1,000 metres of confirmation drilling during the second quarter of fiscal
2008 on Buffalo Reef Project, located in the Mukim of Hulu Jelai,
District of Kuala Lipis, as part of the northwest Pahang State of
Peninsular Malaysia.
The gold deposit on Buffalo Reef Project is part of the
4.2km continuous and contiguous ductile & brittle north trending
shear hosted gold mineralization. This shear zone is believed to be
related to thrusting. The current drilling program is planned to test the gold
deposition along the north trending shear system that dips moderately to
steeply to the east. At Selinsing which represents the southern part of
the system, the deposition of gold is associated with multiple parallel
high grade quartz fissure veins within the 200m width of ductile and
brittle shear zone.
In September
2007, the Company announced commencement of the Phase I Exploration
Program on Buffalo Reef Project. The phase I drilling program involves
1000m of RC drilling and 1400m of Diamond Drilling. The purpose of
the Phase I program is to confirm previous results, achieve a better
understanding of Buffalo Reef Project and to undertake both confirmation
RC drilling as well as some diamond drilling as recommended by
Vancouver consultants Orequest Consultants Ltd. in its NI-43-101 Summary
Report on the Buffalo Reef Project filed on SEDAR on 19th June
2007. To date Monument has completed the stage 1 RC drilling program. The
first assay results have been reported in January, 2008 by Ultratrace Pty
Ltd Analytical Laboratories of Perth, Western Australia, a NATA
accredited laboratory which complies with requirements of ISO/IEC 1725:2005.
The assay results are summarized in Table 1.
Table1.
Assay Results Summary
HOLE
|
FROM
|
TO
|
Downhole Thickness (m)
|
Average Grade (g/t)
|
MBRRC0003
|
41
|
54
|
13m
|
5.76
|
Includes
|
46
|
48
|
2m
|
26.9
|
MBRRC0004
|
43
|
45
|
2m
|
7.77
|
Includes
|
43
|
44
|
1m
|
14.3
|
MBRRC0004
|
50
|
54
|
4m
|
1.46
|
MBRRC0004
|
59
|
61
|
2m
|
6.34
|
MBRRC0004
|
63
|
64
|
1m
|
4.62
|
MBRRC0005
|
25
|
28
|
3m
|
3.09
|
MBRRC0005
|
29
|
30
|
1m
|
8.74
|
MBRRC0005
|
32
|
36
|
4m
|
3.61
|
MBRRC0006
|
32
|
35
|
3m
|
5.5
|
MBRRC0007
|
24
|
26
|
2m
|
1.35
|
|
|
|
|
|
MBRRC0007
|
35
|
42
|
7m
|
2.43
|
MBRRC0008
|
48
|
55
|
6m
|
1.3
|
Includes
|
54
|
55
|
1m
|
4.96
|
MBRRC0009
|
7
|
14
|
7m
|
3.99
|
Includes
|
9
|
13
|
4m
|
6.13
|
MBRRC0009
|
48
|
49
|
1m
|
2.79
|
MBRRC0010
|
4
|
8
|
4m
|
3.28
|
MBRRC0011
|
19
|
26
|
7m
|
5.51
|
Includes
|
24
|
25
|
1m
|
17.6
|
MBRRC0012
|
23
|
27
|
4m
|
5.48
|
MBRRC0013
|
5
|
9
|
4m
|
2.58
|
MBRRC0014
|
5
|
12
|
7m
|
1.29
|
MBRRC0015
|
16
|
19
|
3m
|
5.48
|
MBRRC0016
|
16
|
27
|
11m
|
5.91
|
Includes
|
21
|
23
|
2m
|
16.85
|
MBRRC0017
|
29
|
36
|
7m
|
4.11
|
MBRRC0017
|
30
|
33
|
3m
|
7.6
|
The first 1000m of the
RC confirmation drilling program was conducted at the southern zone of
the Buffalo Reef gold mineralization. The program was carried out at a
nominal 20m x 20m drill pattern that covers a strike length of
approximately 200m. The drillholes were drilled at 60˚ toward 270˚
to a downhole depth of 60m to 70m. Mr. Zaidi Huran, Vice President of
Exploration, said: "We are very pleased with the first drilling
results. They demonstrate the good continuity of mineralization along
strike and down dip and at the same time it is expected to upgrade the
resources category from inferred to indicated and measured."
The diamond drilling
as part of Phase I program will be conducted once the diamond drill rig
is made available towards the end of the third quarter of fiscal
2008. In the meantime the Phase II RC drilling program has
commenced.
The Phase II Drilling
program involves 10,000m of RC Drilling which is planned to be carried
out at a nominal 20m x 20m drill pattern that will cover a broadly defined
1.5 km strike length of the Southern and Central ore body and 800m of
mineralization at the Northern ore body. This exercise will also test the
dip extension of the ore body at all three discreet mineralization areas
as well as a possible extension of the ore body along the strike length.
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.
Monument's program
includes rigorous QAQC procedures. Ultratrace Pty Ltd Analytical
Laboratories of Perth, Western Australia, a NATA accredited laboratory
which complies with requirements of ISO/IEC 1725:2005, and an accredited
quarantined laboratory for handling imported samples, performs the sample
pulverization and assaying for the project. Gold analysis is by 40 g Fire
Assay fusion with an Inductively Coupled Plasma-Emission Spectroscopy
(ICP-OES) finish. Monument follows industry standard practice and
includes field duplicates and independently certified standards and
blanks, blindly inserted in the sample stream. This is in addition to the
laboratory's internal quality control work.
Robert F. Baldock, President and CEO
Monument Mining Limited
Park Place, Suite 500, 666 Burrard Street
Vancouver B.C. Canada V6C 3P6
604-669-2929
The TSX Venture
Exchange has in no way passed upon the merits of the proposed transaction
and has neither 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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