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Mengapur Copper-Iron Project

  1. Mengapur Copper-Iron Project 9.35 km2

Mengapur Copper-Iron Project

Quick Facts

Location Pahang State, Malaysia, 130km southeast from Selinsing Gold Mine, 75km northwest from Kuantan
Mengapur Area Land 9.35 km2
Ownership Divested in April 2021
Deposit Type Copper, Gold, Silver
NI43-101 Contains Copper (Cu), Gold (Au), Silver (Ag) oxide

Development

Monument carried out extensive exploration programs (53,000m of drilling) to confirm historical Resources and metallurgical testwork in studying downstream products. The resource confirmation was largely completed in 2014.  The Company in 2014 entered into an Oxide Magnetite Purchase and Profit-Sharing Agreement for the acquisition of certain overburden top soils in Area C on the Mengapur Project and the production of magnetite from these soils. The Company purchased, at the same time, approximately 1.2 million tonnes of stockpiled oxide magnetite top soils. In October 2018, a Mineral Resource estimate was announced for the Mengapur property. This Resource statement has been included in “Mineral Resource Estimate for the Mengapur Cu-Au Deposit, NI43-101 Technical Report” (the “NI43-101 Technical Report”) filed on SEDAR in October 2018

Mengapur Divestment

Monument closed a transaction with Fortress Minerals to sell 100% interest in the Mengapur Copper and Iron Project. The sale is part of the Company’s corporate restructuring to focus on the development of the gold portfolios in both Malaysia and Western Australia. Fortress Minerals acquired Mengapur Copper and Iron Project for US$30,000,000 in cash. Monument received a 1.25% gross revenue royalty on all products produced at the Mengapur Project

Mengapur Road Map with Long Term Potential

2011
November 2011
Sedar Filing of Snowden NI 43-101 Technical Report
2012
February 2012
Acquisition of Mengapur Project ($90m)
2012 ~ 2014
2012 ~ 2014
Confirmation drilling and testwork (53,000m)
2014
February 2014
Acquisition of Area C top soil iron ore right and stockpile ($7m)
2015
2015
Pilot plant testwork and continuation of PEA study
2015 to date
2015 to date
Placement of the site under Care & Maintenance due to drop in Cu and Fe prices
2017
August 2017
Deed of Variation signed with Intec for Copper Process Testing expiry January 2022
2018
October 2018
SEDAR filed NI 43-101 Mineral Report Update Technical Resource Report
2021
April 2021
Spun-off 100% interest in Mengapur Project for $30m cash and 1.25% gross revenue royalty

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