Monument Announces the Discovery of the Mentique Prospect

1 km West of the Peranggih Gold Prospect

VANCOUVER, British Columbia, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to announce the discovery of a new anomaly which has been called the Mentique Prospect, parallel and 1km west of the Peranggih Gold Prospect.

A soil sampling campaign was conducted in the Peranggih area between December 2018 and March 2019 covering a total area of 16 km², to the Northeast, south and southwest of the existing Peranggih mineralization. The main objective of the program was to identify additional oxide exploration targets. The soil sample lines were spaced at 50m x 200m to the southwest of Peranggih and 50m x 400m to the northeast of Peranggih. A total of 506 samples were collected during this campaign. Data compilation and geological interpretation were recently completed. 

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/48b20c85-7d19-4c9f ...

Program Highlights:

• Discovery of a 1.8km by 0.8km gold soil anomaly located 1 km west of the Peranggih deposit on a parallel north west- south east trending structure with a peak value of 103ppb. This discovery has been named the Mentique Prospect.
• Extension of the gold in soil anomaly by an area of 0.7km by 0.3km north from the current Peranggih known mineralization.
• Extension of the gold in soil anomaly by an area of 0.25km by 0.25km south from the current Peranggih known mineralization.
• Spatial distribution analysis has shown arsenic (“As”) correlates strongly with the gold values at both the Peranggih and Mentique prospects.
• The general trend of the anomaly corresponds well with the major regional NNW-SSE structure that hosts gold at Selinsing, Buffalo Reef and Peranggih.

Samples were collected from the A-horizon soil layer for this campaign as it has previously proven to be highly successful for delineating gold soil anomalies in the region. Approximately 100g of material was collected for each sample by digging 5cm below the top soil layer which is rich in organic matter. Samples were inserted into zip-lock bags and later stored at the core shed for tagging and packing before sending for assay.