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Monument's Drill Assay Results Highlight Selinsing Gold Mine Expansion Potential

Monument Mining Drill Results Validate Selinsing Expansion Potential Amidst Gold Price Correction

By The Northwire Desk — AI Analysis May 29, 2026 · 19:59 MMY · 0.9 Monument Mining Limited

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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