Malaysia-Selinsing Gold Mine Current Resources & Reserves - January 2019
The Company filed a report titled “Selinsing Gold Sulphide Project-NI 43-101” (“the 2019 FS”) at www.sedar.com and prepared by Snowden Mining Industry Consultants Pty Ltd (“Snowden”) January 31, 2019, describing the mineral exploration, development and production area of the Selinsing Gold Mine. Mineral Reserves and Mineral Resources were estimated by Snowden as Independent qualified person defined under NI 43-101 standards.
Tables 1 & 2 below summarize the estimated Mineral Reserves and Mineral Resources by area and ore type, all expressed in metric tonnes and Troy ounces (1 ounce = 31.1035 g).
Table 1: Selinsing-Buffalo Reef/Felda Mineral Resources as of March 31, 2018 (Snowden)
| Category | OXIDE (above 0.3 g/t Au cut-off) | TRANSITION (above 0.5 g/t Au cut-off) | SULPHIDE (above 0.5 g/t Au cut-off) | OXIDE + TRANSITION + SULPHIDE | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| kTonnes | g/t | Au (kOz) | kTonnes | g/t | Au (kOz) | kTonnes | g/t | Au (kOz) | kTonnes | g/t | Au (kOz) | |
| Mineral Resources, reported inclusive of Reserves (based on a potential US$2,400/oz gold price) | ||||||||||||
| Measured* | 1,265 | 0.47 | 19 | - | - | - | 45 | 1.53 | 2 | 1,310 | 0.51 | 21 |
| Indicated** | 1,533 | 0.85 | 42 | 1,086 | 1.49 | 52 | 8,052 | 1.60 | 415 | 10,671 | 1.48 | 509 |
| M+I | 2,798 | 0.68 | 61 | 1,086 | 1.49 | 52 | 8,097 | 1.60 | 417 | 11,981 | 1.38 | 530 |
| Inferred*** | 349 | 1.05 | 12 | 485 | 1.22 | 19 | 5,563 | 1.79 | 319 | 6,397 | 1.70 | 350 |
*Measured Resource is entirely stockpile material; Indicated and Inferred Resource comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits; **Indicated Oxide Resource is a combination of in situ oxide material occurring in Selinsing and Buffalo Reef/Felda deposits plus Selinsing Old Tailings material; Indicated Transition and Sulphide Resource comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits ; ***Inferred Resource comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits
Table 2: Selinsing-Buffalo Reef/Felda Reserves as of March 31, 2018 (Snowden)
| Category | OXIDE (above approx. 0.4 g/t Au cut-off) | TRANSITION (above approx. 0.75 g/t Au cut-off) | SULPHIDE (above approx. 0.75 g/t Au cut-off) | OXIDE + TRANSITION + SULPHIDE | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| kTonnes | g/t | Au (kOz) | kTonnes | g/t | Au (kOz) | kTonnes | g/t | Au (kOz) | kTonnes | g/t | Au (kOz) | |
| Mineral Reserves (based on a US$1,300/oz gold price) | ||||||||||||
| Proven* | 1,265 | 0.47 | 19 | - | - | - | 45 | 1.53 | 2 | 1,310 | 0.51 | 21 |
| Probable** | 991 | 0.91 | 29 | 757 | 1.72 | 42 | 2,680 | 2.03 | 175 | 4,428 | 1.73 | 246 |
| P+P | 2,256 | 0.67 | 48 | 757 | 1.72 | 42 | 2,725 | 2.02 | 177 | 5,738 | 1.45 | 267 |
*Proven Reserve is entirely stockpile material; **Probable Oxide Reserve is a combination of in situ oxide material occurring in Selinsing and Buffalo Reef/Felda deposits plus Selinsing Old Tailings material; Probable Transition and Sulphide Reserve comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits
The 2019 Selinsing and Buffalo Reef/Felda Mineral Resources were updated by John Graindorge, an employee of Snowden, who is the independent Qualified Person for the March 31, 2018 Mineral Resources as defined by NI 43-101. The 2019 Selinsing and Buffalo Reef/Felda Mineral Reserves were estimated by Frank Blanchfield, an employee of Snowden, who is the independent Qualified Person for the March 31, 2018 Mineral Reserves as defined by NI 43-101.
Recommendations
The opportunity to include inferred resources was also discussed in the Feasibility Study. The Inferred Mineral Resource inside the Reserve open pit designs potentially contains an additional 20 koz of gold. The Inferred Mineral Resource external to the open pit design contains 130 koz of gold. Recommendations have been suggested to initiate further exploration programs, aimed on conversion of Inferred Mineral Resources to Indicated Mineral Resources. Should those conversions be successful, the Mineral Reserves could potentially be significantly increased. The Selinsing Gold Mine has a proven record in converting oxide Inferred Mineral Resources to recovered ounces.
Western Australia- Murchison Gold Resources
Current Resources-Burnakura-July 2018
The Company filed a report titled “NI 43-101 Technical Report-Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia at www.sedar.com and prepared by SRK Consulting (Australasia) Pty Ltd (“SRK”) July 18 2018. Monument has focused work on updating and validating the historical resources at the Burnakura project into current resources under NI43-101 guidelines. To date this has resulted in the update of the deposits of Alliance and New Alliance (“ANA”); North of Alliance 1 to 8 (NOA); Federal City; and Authaal into current resource status.
Table E1-5 below shows a breakdown of the 2018 Mineral Resource estimates that make up the Burnakura project:
Table E-1: NOA 1–6 – Mineral Resource estimate
| Resource category | Lower cut-off (Au g/t) |
Tonnes (Kt) | Grade (Au g/t) |
Metal (koz Au) |
|---|---|---|---|---|
| Indicated | 0.5 | 1,030 | 2.1 | 68 |
| Inferred | 0.5 | 609 | 2.3 | 44 |
Table E-2: NOA7–8 Mineral Resource estimate
| Resource category | Lower cut-off (Au g/t) |
Tonnes (Kt) | Grade (Au g/t) |
Metal (koz Au) |
|---|---|---|---|---|
| Indicated | 3.0 | 776 | 4.6 | 114 |
| Inferred | 3.0 | 35 | 3.9 | 4 |
Table E-3: ANA Mineral Resource estimate
| Resource category | Lower cut-off (Au g/t) |
Tonnes (Kt) | Grade (Au g/t) |
Metal (koz Au) |
|---|---|---|---|---|
| Indicated | 0.5 | 2,141 | 1.6 | 107 |
| Inferred | 0.5 | 92 | 1.5 | 4 |
Table E-4: Authaal Mineral Resource estimate
| Resource category | Lower cut-off (Au g/t) |
Tonnes (Kt) | Grade (Au g/t) |
Metal (koz Au) |
|---|---|---|---|---|
| Inferred | 0.5 | 556 | 1.4 | 25 |
Table E-5: Federal City – Mineral Resource estimate
| Resource category | Lower cut-off (Au g/t) |
Tonnes (Kt) | Grade (Au g/t) |
Metal (koz Au) |
|---|---|---|---|---|
| Indicated | 0.5 | 96 | 1.3 | 4 |
| Inferred | 0.5 | 259 | 1.3 | 11 |
(1) Small discrepancies may occur due to rounding.
(2) All Mineral Resources have been reported on a dry tonnage basis.
(3) SRK is unaware of any issues that materially affect the Mineral Resources in a detrimental sense.
(4) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(5) Mineral Resources estimated by David Slater (Principal Consultant, SRK), QP.
(6) Open pit Resources (NOA1-6, ANA, Authaal, Federal City) are constrained in a Lerchs Grossman pit shell, Underground Resources (NOA7-8) are constrained to >3g/t and 200m vertical depth.
Murchison Historical Resources
The Murchison portfolio contained historical resources of 644koz at the time of acquisitions. Monument is systematically performing all the necessary work to convert and validate these historical resources into current resources under NI43-101 guidelines. A breakdown of the historical resources is detailed in the table below.
Burnakura
JORC Historical Mineral Resource, at 1.0 g/t Au
| Project | Category | kTonnes | Au(g/t) | Au (kOz) | Source |
|---|---|---|---|---|---|
| ANA | Indicated | 583 | 2.3 | 44 | Golders Jan 2013 (brn_OK_1301.fbm) Updated Mineral Resources for Alliance and New Alliance Deposits |
| Inferred | 403 | 2.4 | 31 | ||
| Federal City | Indicated | H&S May 2011 (authaal_gda.mdl) Burnakura Resource Estimates H&S_May 2011 | |||
| Inferred | 190 | 2.7 | 16 | ||
| NOA1 | Indicated | 100 | 3.0 | 10 | Golders Sept 2013 (brn_1013_ok.fbm) Burnakura deposit Resource Estimation - NOA 1 and 2 |
| Inferred | 10 | 1.6 | 0.5 | ||
| NOA2 | Indicated | 637 | 4.8 | 98 | Golders Sept 2013(brn_1013_ok.fbm) Burnakura deposit Resource Estimation - NOA 1 and 2 |
| Inferred | 118 | 6.3 | 24 | ||
| NOA4 | Indicated | H&S May 2011 (noa_hs_2011.mdl) Burnakura Resource Estimates H&S_May 2011 | |||
| Inferred | 140 | 1.9 | 9 | ||
| NOA6 | Indicated | H&S May 2011 (noa_hs_2011.mdl) Burnakura Resource Estimates H&S_May 2011 | |||
| Inferred | 113 | 1.8 | 7 | ||
| NOA7&8 | Indicated | 1,032 | 2.9 | 96 | BMGS Sept 2012 (noa78.mdl) BMGS Resource Report NOA 7-8 |
| Inferred | 265 | 3.1 | 27 | ||
| Lewis | Indicated | 113 | 2.2 | 8 | BMGS sept 2012 (lewis1206.mdl) BMGS Resource Report -Lewis |
| Inferred | 57 | 2.0 | 4 | ||
| Authaal | Indicated | H&S May 2011 (authaal_gda.mdl) Burnakura Resource Estimates H&S_May 2011 | |||
| Inferred | 440 | 2.0 | 28 | ||
| Banderol | Indicated | H&S May 2011 (banderol_hsgda2011.mdl) Burnakura Resource Estimates H&S_May 2011. | |||
| Inferred | 200 | 1.5 | 10 | ||
| TOTAL - BURNAKURA | Indicated | 2,465 | 3.2 | 255 | |
| Inferred | 1,935 | 2.5 | 155 |
Gabanintha
JORC Historical Mineral Resource, at 1.0 g/t Au
| Project | Category | kTonnes | Au(g/t) | Au (kOz) | Source |
|---|---|---|---|---|---|
| Tumblegum | Indicated | BMGS - Gabanintha Resource Report - (not completed), 2013 | |||
| Inferred | 60 | 1.8 | 3 | ||
| Canterbury | Indicated | BMGS - Gabanintha Resource Report - (not completed), 2013 | |||
| Inferred | 500 | 1.7 | 27 | ||
| Terrels | Indicated | BMGS - Gabanintha Resource Report - (not completed), 2013 | |||
| Inferred | 700 | 1.8 | 41 | ||
| Yagahong | Indicated | BMGS - Gabanintha Resource Report - (not completed), 2013 | |||
| Inferred | 50 | 1.5 | 2 | ||
| Yagahong North | Inferred | BMGS - Gabanintha Resource Report - (not completed), 2013 | |||
| Inferred | 800 | 2.9 | 75 | ||
| Golden Hope North | Indicated | BMGS - Gabanintha Resource Report - (not completed), 2013 | |||
| Inferred | 100 | 1.5 | 5 | ||
| TOTAL - GABANINTHA | Indicated | ||||
| Inferred | 2,210 | 2.16 | 153 |
Tuckanarra
JORC Historical Mineral Resource, at 1.0 g/t Au
| Project | Category | kTonnes | Au(g/t) | Au (kOz) | Source |
|---|---|---|---|---|---|
| Anchor Laterite | Indicated | 17 | 1.4 | 1 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 22 | 1.2 | 1 | ||
| Bollard Laterite | Indicated | 37 | 1.5 | 2 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 97 | 1.3 | 4 | ||
| Cable Central | Indicated | 45 | 1.7 | 2 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 16 | 1.3 | 1 | ||
| Cable East | Indicated | 240 | 2.3 | 18 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 59 | 1.9 | 4 | ||
| Cable West | Indicated | 49 | 2.4 | 4 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 61 | 3.0 | 6 | ||
| Cable West (High Grade) | Indicated | 3 | 54.0 | 5 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | |||||
| Drogue Laterite | Indicated | 120 | 1.4 | 5 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 37 | 1.2 | 1 | ||
| Lucknow | Indicated | 11 | 1.7 | 1 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 71 | 1.5 | 3 | ||
| Maybelle | Indicated | 70 | 2.8 | 6 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 48 | 2.3 | 4 | ||
| Maybelle North | Indicated | 5 | 3.0 | 1 | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 |
| Inferred | 92 | 2.2 | 7 | ||
| Miners Dream | Indicated | Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012 | |||
| Inferred | 63 | 2.8 | 6 | ||
| TOTAL -TUCKANARRA | Indicated | 597 | 2.3 | 45 | |
| Inferred | 566 | 2.0 | 36 |