Vancouver, British Columbia CANADA, Feb 16, 2010 (Filing Services Canada via COMTEX) -- Monument Mining Ltd. (MMY - TSX Venture)(D7Q1 - FWB),
"Monument" or the "Company" announces that it has commenced commissioning of the CIL ("carbon in leach") circuit of the 1200 tpd gold treatment plant at its wholly owned Selinsing Gold Project located in Pahang State, Malaysia while having its gravity circuit in pre-commercial production.
Subsequent to acquisition of Selinsing Gold Project in June 2007, the Company has been developing the open pit gold mine together with building a 1,200 tpd gold treatment plant in two construction phases including the gravity circuit and the CIL circuit.
The gravity circuit was commissioned in September 2009 and has since been placed into pre-commercial production. A total of 4,002 ounces of gold have been produced to date from the gravity circuit with a by-product of 890 ounces of silver. The first shipment of gold occurred in early November 2009. The average realized gold price from sales is US$1,124 per ounce. The cash generated from gold sales has been used to fund continuing construction of the CIL circuit. The mill throughput increased from monthly throughput of 3,534 tons in September 2009 to 34,260 tons in January 2010. The gravity circuit has achieved its targeted throughput in December 2009.
The commissioning of the CIL circuit commenced on February 12, 2010, delayed from December 2009 due to the late arrival of agitators, expected in November 2009 but delivered in February 2010. The Company is now focusing on completion of the CIL circuit commissioning. Together with the gravity circuit, the gold treatment plant, once in full production, will have a capacity of 40,000 ounces of gold per year.