Monument Mining Limited Announces Commencement of Expansion Drilling Program at Selinsing Gold Mine

Published: 2025-07-07 09:05:58 ET MMY.V

Published on 07/07/2025 at 09:05

Monument Mining Limited announced the commencement of its expansion drilling program at the Selinsing Gold Mine including Selinsing and Buffalo Reef gold properties, located in Pahang State on the Central Gold Belt of Western Malaysia. A mine expansion study (the "Study") has been undertaken by Snowden without current spatial constraints, such as lease boundaries and existing infrastructure limitations. This exercise is designed to test areas beyond the current LoM plan that exhibit reasonable potential for resource discovery upon drilling.

The outcome of the Study will also serve as a guide for the mine expansion drill program, functioning as conceptual "Blue Sky" targets for future drill program design. A rationalized tiered approach has been proposed to prioritize the target areas. Mine expansion Strategy: The mine expansion drilling program targets the delineation of new mineralized zones beyond the current production pit shells (the "Mine Expansion Areas"), laying the foundation for an updated LoM.

It is anticipated that successful confirmation of the expected mineralisation in the Mine Expansion Areas will allow future pit designs to include most of the current Mineral Resources outside the current pit shells. The mine expansion drilling program aims, through aggressive exploration drilling, to discover new Mineral Resources with subsequent conversion of those Resources to Reserves. The initial drilling plan is currently under review with a cash commitment of USD 2.5 million, targeting completion by the end of March 2026.

The most recent feasibility study ("Selinsing Gold Sulphide Project - NI43-101 Technical Report" Sedar filed January 31, 2019) outlines total Resources of 16.1 million tonnes at 1.6 g/t Au for 836,000 ounces of gold, supporting a five-year life of mine with a 4.9 million tonne Reserve at an average grade of 1. 6 g/t Au containing 249,000 ounces of gold. The Gold Sulphide Project has been in production since 2023. Of these totals, Resources of 525,000 ounces of gold at1.64 g/t are located outside the current pit shells--com comprising 316,000 ounces of gold at 1.64 g/t in the Selinsing Gold areas and 209,000 ounces of gold at one.64 g/t in The Buffalo Reef remains open at depth, particularly in its central and southern zones.

Updated structural modeling suggests a steepening of the mineralized body, enhancing the potential for expansion. At Selinsing Pit, the southernmost zone shows a thick mineralized envelope that remains open at depth and along northeast-southwest structural trends. Cross-section at 1,960 mN showing untested extensions at depth.

Plan view at mRL 375 showing the new interpretation of the Selinsing pit 4 and Deep orebody mineralization trend. In-pit geological mapping supports the updated interpretation of a better-defined mineralization trend. In- pit mapping supports the updated interpretation of an better-defined mineralisation and pit design.