Drill Results
Monument's Drill Assay Results Highlight Selinsing Gold Mine Expansion Potential
Monument Mining Drill Results Validate Selinsing Expansion Potential Amidst Gold Price Correction
Executive Summary
- Monument Mining Limited announced completion of Stage 1 and Stage 2 drilling for the Buffalo Reef/Felda Mine Expansion program at its Selinsing Gold Mine in Malaysia.
- Total drilling completed is 123 holes for 17,136 meters against a plan of 118 holes/17,477m.
- Assay results received for 98 holes with 19 pending; all expected by June 2026.
- Results indicate strong potential for resource addition outside current Life of Mine (LOM) and Expanded Pit Shell boundaries.
- Significant high-grade intercepts reported, including MBRDD641: 21.0m @ 1.99g/t Au and MBRDD628: 1.1m @ 13.9g/t Au.
- Geological continuity suggests an increased Inferred Mineral Resource outside existing tenement boundaries.
Material Impact
- The news confirms the successful completion of a previously announced $2.5 million drilling program initiated in July 2025, making it expected rather than unexpected information.
- While high-grade intercepts are positive, they represent exploration potential (Inferred Resource) rather than converted reserves or immediate production changes.
- The announcement validates previous Q2 FY26 earnings guidance which already factored in strong cash flow and production growth.
- Given the program was known to the market for months, this is a follow-up milestone rather than a game-changing event like an acquisition or final resource declaration.
- The "outside LOM" potential is significant but requires further technical work (resource update targeted October 2026) before materializing into financial value.
MMY · Price
Company Overview
- Flagship Project: Selinsing Gold Mine in Malaysia (Central Gold Belt), an open-pit sulphide operation with a 950 ktpa flotation plant.
- Status: Producing since September 2010; historical production of 436,787 oz Au to date.
- Secondary Assets: Murchison Gold Portfolio in Western Australia (Burnakura and Gabanintha projects) currently in exploration/development stages.
- Strategy: Disciplined growth combining sustaining Selinsing production with expansion drilling and potential corporate acquisitions.
- Operations: Recent upgrades include new filter press, concentrate shed extension, and tailings storage facility (TSF) stage 7 design.
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Jun 01, 2026 · 17:45