Monument commences gold flotation plant work at Selinsing
(Kitco News) - Monument Mining (TSX-V: MMY) announced commencement of the phase 1 Selinsing Sulphide gold project by adding a flotation plant to the existing processing plant, which will produce marketable gold concentrates from the sulphide ore at Selinsing gold mine in Pahang State, Malaysia.
CEO and president Cathy Zhai commented, "Monument has completed the restructuring of its mineral asset portfolio by spinning out the Mengapur base metals project. This enables us to focus on development and funding of the gold portfolio."
"We plan to spend up to USD$20 million first to build a flotation plant for saleable gold concentrate, the proceeds from it can be used to add the planned bioleaching plant to produce gold bullion should an economic case be demonstrated by then," added Zhai.
The company said that the testwork to date at the Selinsing on-site lab has achieved an acceptable gold concentrate with recoveries of 83–92%, containing around 30-45 g/t of gold on composite samples of Buffalo Reef fresh and transition materials. Initial marketing studies using the in-house flotation data have indicated that concentrate grades of 30 – 35 g/t Au may be preferred.
Monument Mining is an established Canadian gold producer that owns and operates the Selinsing gold mine in Malaysia. The company also advancing the Murchison gold projects comprising Burnakura, Gabanintha and Tuckanarra (20% interest) in the Murchison area of Western Australia.