Monument Mining updates Mengapur copper and gold resource estimate

Monument Mining has announced an updated mineral resource estimate for the Mengapur property in the Malay Peninsula, prepared by independent consultants Snowden Mining Industry Consultants. The report serves to standardize previous historical data under the National Instrument 43-101 framework.

The estimate identifies 39.5 million tonnes of indicated mineral resources at a grade of 0.43% copper and 0.18 g/t gold, along with 50.9 million tonnes of inferred resources at 0.44% copper and 0.11 g/t gold. The data reflects results from 112,000 meters of drilling, of which Monument completed approximately 53,000 meters between 2011 and 2014. The geological assessment confirms continuous copper and gold mineralization associated with skarn alteration.

CEO Cathy Zhai stated that the company intends to focus on copper as the primary commodity, with gold and silver as potential by-products. The updated resource, combined with metallurgical testing, is intended to provide a basis for future feasibility studies to evaluate mining and processing methods.

Most of the identified mineralization lies within 200 meters of the surface, suggesting the viability of open-pit mining. Monument plans to conduct additional infill drilling to increase the confidence level of the inferred resource categories as it progresses toward development.