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Monument Progresses Flotation Plant Construction at the Selinsing Gold Mine in Malaysia

VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) — Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") is pleased…

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VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") is pleased to announce the progress on flotation plant construction at the Selinsing Gold Mine in Malaysia to produce saleable sulphide gold concentrates. The flotation plant construction includes: project management, project validation, flotation design and engineering, procurement, construction and commissioning.

Charlie Northfield, General Manager and the Project Sponsor at the Selinsing Gold Mine, commented: “I am thrilled to report that we are on schedule for construction completion in June 2022. To mitigate the risk of delays that might be caused by the Covid 19 pandemic from time to time, we are making our best efforts to advance deliverables ahead of the schedule. Our ability to move quickly is a testament to the capacity and experience of the on-site team. We will provide further updates on the flotation plant construction process in the weeks to come.”

Project Management

The project management team is led by the oversight board chaired by Cathy Zhai, President and CEO, comprising Project Sponsor, Project Manager, Project Controller and the Plant Manager as the end user. The procurement and engineering team on site are Selinsing employees. The majority of key project personnel participated in the existing Selinsing gold plant construction work back in 2008 to 2010. Six new employees will be recruited at different times in the construction and four personnel seconded from the existing Selinsing workforce.

Detailed Engineering Design

Following completion of independent flotation testwork and amendment of conceptual design of the flotation plant by Orway Mineral Consultants (“OMC”) (refer to July 6th 2021 news release), the contract for detailed engineering design was awarded to Mincore Pty Ltd. (“Mincore”), an Australia based engineering company.

The scope of work undertaken by Mincore included: the development of the 3D model of the flotation processing plant, preparation of equipment specifications and data sheets, and development of the control system for the new process equipment. Plant design aims to maximize gravity flow and to provide plant access for maintenance while allowing the current gravity / CIL plant operation to continue without interruption. The plant layout design allows for the future addition of the proposed BIOX® circuit and ancillary works.

Up to September 30th 2021 Mincore has achieved 80% completion of the design work. HAZOP design reviews have been carried out for the new process facilities to identify and mitigate any operational safety issues. Civil and structural drawings are scheduled for completion on October 31st 2021; mechanical and piping drawings will be issued for construction by November 30th 2021.

Lim Teck Chong, Flotation Plant Project Manager, commented: “The successful flotation testwork gave us the green light to proceed with all aspects of the development of the project. The detailed engineering design is approaching completion and the pilot plant is expected to be completed this month. Procurement, earthworks, and recruitment have all progressed as we ramp up and prepare for civil foundation work to begin.”

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b66d6a8e-baeb-42e5-ac8a-2ad921b4c613

Procurement

Procurement of long lead equipment items has been completed and contracts have been awarded for the supply of flotation cells, concentrate and water recovery thickeners, and the concentrate filter press. Technical and financial appraisals have been completed and contracts are being prepared for the air blowers, compressor, slurry pumps and 11kV/415V transformer. Procurement is continuing for the motor control centre, agitators, reagent pumps and plate work for conditioning and reagent tanks.

The flotation pilot plant has been delivered to site and is currently being set up at the research and development laboratory. The pilot plant features a ball mill and classifier, rougher/scavenger flotation cells and three stages of cleaner flotation to replicate the flowsheet of the full scale flotation plant. The pilot plant will be used for operator training, reagent trials, and for the preparation of concentrate samples for potential customers. The pilot plant is expected to be fully operational before the end of October 2021.

Risk control over the long lead items is focused on periodical inspection and shipping scheduling, which faces global challenges during the pandemic period.

Construction

Flotation construction includes: earthworks, civil engineering, structural engineering, mechanical and electrical installation and other associated plant upgrades.

Contractor Engagement: Suitably experienced Malaysian contractors have been shortlisted for the construction work according to discipline comprising: civil and structural, mechanical and piping, and electrical and instrumentation. Most of these contractors have worked on previous construction phases of the Selinsing operation. The contract has been awarded to reroute the power cables to the primary and secondary ball mills outside of the new flotation plant footprint to avoid any interference during construction work.

Civil Foundation Work: 75% of the earthworks have been completed for the plant foundations, and final excavations will be conducted once civil drawings have been issued for construction. Civil foundation work is expected to commence in early November, starting with the construction of the retaining wall extension, and followed by civil works in the flotation area, concentrate and water recovery thickeners and the filter press building. At the same time the foundations will be constructed for the new warehouse, reagents mixing and air services buildings.

Transition to Flotation

The production of flotation concentrate is expected to commence in July 2022 as soon as all of the flotation cells, concentrate thickener and filter press have been commissioned. In the current production schedule the CIL plant will continue operation until commissioning of the flotation plant commences. We will keep the production going as long as possible to generate cash flow primarily from Selinsing, Buffalo Reef pits and the Peranggih Prospect, provided that readers shall understand that there might be an interruption to production due to the Covid pandemic, and there might be volatility of production in transition to the new life of mine from the existing remaining life of mine.

During the period from late August to the beginning of October, while the CIL plant has continued operation throughout the time, the elution heat exchanger however has been offline after 10 years’ of service, and the spare was unexpectedly found to have failed. Gold pours were put on hold until October when the unit was re-built and back in service. A suitable replacement heat exchanger has been located in Kuala Lumpur and an order has been placed to secure this unit and delivery is awaited. The Company keeps its repair and maintenance program going to ensure sustained production as planned.

About Monument

Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is also advancing the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra (20% interest) in the Murchison area of Western Australia. The Company employs approximately 200 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.

Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6

FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:

Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Forward-Looking Statement

This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and results of proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws


Today’s News

Eco Oro Announces Change in Directors

VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) — Eco Oro Minerals Corp. (CSE:EOM) (the “Company” or “Eco Oro”) announced today…

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VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Eco Oro Minerals Corp. (CSE:EOM) (the “Company” or “Eco Oro”) announced today that Pierre Amariglio has been appointed to Company’s board of directors (the “Board”) and will serve as Co-Executive Chair of the Board, together with Courtenay Wolfe, the current Co-Executive Chair of the Board. This appointment was made in accordance with the terms of the Amended and Restated Settlement Agreement dated September 11, 2017 between the Company, Trexs Investments, LLC, an entity managed by Tenor Capital Management Company, L.P. (“Tenor”), and certain other parties, to fill the vacancy created by the resignation of Blair Wallace from the Board.

Pierre Amariglio is a dual qualified American-French lawyer with extensive experience in international arbitration. He is the Director of Litigation of Finance at Tenor.

Company Profile

Eco Oro Minerals Corp. is a publicly-traded company and its arbitration against the Republic of Colombia is its core focus.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE Eco Oro Minerals Corp.

For further information: Paul Robertson, Chief Executive Officer (Interim)
Tel: +1 604 682 8212, TF: +1 855 682 8212.
CO: Eco Oro Minerals Corp.

 


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Nevada Gold Mines Completes Exchange Transaction to Consolidate South Arturo Property

ELKO, Nev., Oct. 14, 2021 (GLOBE NEWSWIRE) — Nevada Gold Mines (NGM) today announced it has completed the previously announced asset exchange transaction…

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ELKO, Nev., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Nevada Gold Mines (NGM) today announced it has completed the previously announced asset exchange transaction to acquire from i-80 Gold Corp. the 40% interest in the South Arturo Joint Venture that NGM does not already own as well as a low-cost option to acquire the adjacent Rodeo Creek exploration property, in exchange for the Lone Tree and Buffalo Mountain properties and infrastructure which are currently in care and maintenance.

About Nevada Gold Mines
Nevada Gold Mines is operated by Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and is a joint venture between Barrick (61.5%) and Newmont (38.5%) that combined their significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world.

ENQUIRIES

Catherine Raw
Barrick COO, North America
Tel: +1 416 307 5157
Email: [email protected]

Greg Walker
NGM Executive Managing Director
Tel: +1 702 526 3194
Email: [email protected]

Kathy du Plessis
Investor and media relations
Tel: +44 20 7557 7738
Email: [email protected]


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Today’s News

Rockhaven Resources Ltd. Clarifies Disclosure

VANCOUVER, BC / ACCESSWIRE / October 14, 2021 / As a result of a review by the British Columbia Securities Commission, Rockhaven Resources Ltd. (TSXV:RK)…

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VANCOUVER, BC / ACCESSWIRE / October 14, 2021 / As a result of a review by the British Columbia Securities Commission, Rockhaven Resources Ltd. (TSXV:RK) ("Rockhaven" or the "Company") is issuing the following news release to clarify its disclosure.

The corporate website, presentation and fact sheet contained references to the 2020 Preliminary Economic Assessment (PEA) results but did not disclose that a portion of the resource used in the PEA considered inferred mineral resources. As per section 2.3(3)(a) of NI 43-101, all references to the 2020 PEA results contain disclosure which cautions readers that the PEA is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

Additionally, the Company used over promotional language with respect to the sensitivity analysis related to the 2020 PEA and next steps for the project. These statements have been amended and are now in compliance.

Qualified Persons

Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

About Rockhaven

Rockhaven Resources Ltd. is a well-funded explorer focused on the exploration and development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. Rockhaven has completed a mineral resource estimate and a preliminary economic assessment on the Klaza deposit (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, "Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada" which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com).

Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
[email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Rockhaven cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the control of Rockhaven. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, the ability of Rockhaven to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in Rockhaven's financial statements available under the Rockhaven profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Rockhaven undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: Rockhaven Resources Ltd.



View source version on accesswire.com:
https://www.accesswire.com/668280/Rockhaven-Resources-Ltd-Clarifies-Disclosure

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