Q3 2021 gold sales generated revenue was $4.40 million as compared to $11.62 million from Q3 2020. Gold sales revenue was derived from the sale of 2,523oz (Q3 2020: 7,323oz) of gold at an average realized gold price of $1,830 per ounce (Q3 2020: $1,604 per ounce) and the delivery of 723 oz (Q3 2020: 723oz) in fulfilling gold prepaid obligations at an average London Fix PM gold price of $1,525 per ounce (Q3 2020: $1,429 per ounce).
Q3 2021 total production costs decreased by 49% to $3.32 million as compared to $6.54 million from Q3 2020. Cash cost per ounce increased by 47% to $1,315/oz as compared to $892/oz of the same period last year. The increase was attributable to a 52% decrease in the mill feed grade from 1.49g/t to 0.72g/t and a decrease in recovery to 57.5% (Q3 2020: 76.2%) as a result of processing significantly more leachable sulphide ore and other low recovery ores.
VANCOUVER, British Columbia, May 25, 2021 (GLOBE NEWSWIRE) Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") announces that three employees from Monument's Selinsing Gold
Monument Mining: Visible Gold at Odyssey/Monument Tuckanarra JV Project Reinforce Exploration Targeting at Murchison Gold Project
Figure 1: Significant visible gold? is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f33fad6e-54b6-4e35-8110-27a52264226f
President and CEO Cathy Zhai said: The recent results from Tuckanarra, whilst very preliminary, confirm and re-inforce Monument s view that extensive high-grade gold mineralisation remains to be discovered at Burnakura and Gabanintha. This is an exciting outcome as Monument prepares to commence its exploration program for 2021.
The results at Tuckanarra confirm the Company s view that the true potential of the Murchison Project is yet to be defined. Historical mining operations have exploited the shallow high grade gold mineralisation at Burnakura and Gabanintha through both open pit and underground developments. The full depth and strike extent of the mineralisation within these two systems is still to be tested