2014
February 2014
Acquisition of Murchison Gold Project ($15m)
Quick Facts
| Location | Murchison Area, Western Australia, 765km Northeast of Perth |
| Murchison Area Properties | 232.6 km2 |
| Ownership | 100% (Burnakura & Gabanintha) and 20% (Tuckanarra) |
| Mine Type | Open Pits/Underground |
| Deposit Type | Gold |
| Plant Capacity | 260,000 tpa* |
| NI 43-101-Indicated Resources | 293 koz Au |
| NI 43-101-Inferred Resources | 88 koz Au |
| Historical Resources** | 644 koz Au |
*tpa-tonnes per annum **Historical Resources (JORC) at time of acquisitions
Murchison Area
Murchison Tenements
Overview
The Murchison Gold Project (“Murchison”) includes the Burnakura, Gabanintha, and Tuckanarra (20% free carry interest) properties, which are located in the Murchison goldfield of Western Australia, 40km southeast of Meekatharra and 765km northeast of Perth. The Murchison Goldfield has yielded approximately 35moz of gold to date and it still delivers significant production from mines operated by companies including Westgold Resources and Ramelius Resources. There is great potential for further substantial discoveries utilising modern exploration, as highlighted by the recent success of Musgrave Minerals and Spectrum Metals.
The Company intends to undertake a two year aggressive exploration programme at Murchison and expand the existing resource base, in an effort to turn Murchison into its cornerstone project.
Murchison was acquired in 2014 with historical resources of 644koz Au, a fully-operational camp, 260ktpa gold processing plant (currently on care & maintenance) and a number of historical open pits and underground mines.
The Burnakura and Gabanintha properties were acquired in February 2014, having a total historical JORC Historical Resource of 563koz Au (153koz Au for Gabanintha, 410koz Au for Burnakura). Gabanintha is within trucking distance to the Burnakura plant. Since acquisition, 381koz of Au resources have been reported to NI 43-101 standards at Burnakura comprising Indicated Resources of 293koz Au and Inferred Resources of 88koz Au. Monument has also refurbished a set of crushing circuits to upgrade the Burnakura gold processing plant, upgraded and maintained the 118 person mine camp and associated infrastructure ready for near term production.
The Tuckanarra project was purchased in November 2014 and contains a historical Indicated and Inferred JORC compliant resource of approximately 80koz Au. In December 2020, Monument sold an 80% interest in Tuckanarra to Odyssey Gold Ltd., leaving Monument with a 20% free carried interest and a 1% NSR royalty over Odyssey’s 80% interest in the property. An unincorporated joint venture was formed with Odyssey to advance the exploration over Tuckanarra. Odyssey will be solely responsible for funding the exploration and evaluation activities at Tuckanarra until a decision to mine is reached. The future processing of ore from tenements held by Odyssey through the Burnakura plant remains an option should commercial terms be reached.