2.2. Saigner le Congo a blanc ! Monument Enters Earn-In and JV Agreement on Matala Gold Project in DRC

2.2. Saigner le Congo a blanc ! Monument Enters Earn-In and JV Agreement on Matala Gold Project in DRC


http://finance.yahoo.com/news/monument-enters-earn-jv-agreement-095446544.html;_ylt=AwrC1CocY7hW4HgAzvnQtDMD;_ylu=X3oDMTByNXM5bzY5BGNvbG8DYmYxBHBvcwMzBHZ0aWQDBHNlYwNzcg--




Marketwired Monument Mining Limited
23 hours ago
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 7, 2016) - Monument Mining Limited (TSX VENTURE:MMY)(D7Q1.F) ("Monument" or the "Company") announces that it has entered into an "Earn-In and Shareholders Agreement" (the "JV Agreement" with Afrimines Resources S.A.R.L ("Afrimines") and its wholly owned subsidiary, Regal Sud Kivu S.A.R.L ("Regal") to earn up to 90% joint venture interest in the Matala Gold Project ("Matala Project" or "Matala"). Afrimines and Regal are both incorporated and operated in the Democratic Republic of Congo ("DRC"), where Regal holds a 100% interest in the Matala.


The Matala Project comprises 14 exploration permits covering 1,970 square kilometers in the South Kivu Province, DRC. It is situated within the Kibaran gold belt which hosts Banro Corporation's Twangiza and Namoya deposits, both of which are already in production. Significant anomalies have been identified at the Ngoy and Matala Prospects of Matala by previous exploration. A resource estimate on the Ngoy Prospect of the Matala Project has been prepared by CSA Global Pty Ltd. reporting an inferred resource estimate of 2 million tonnes at 3.3g/t Au for 213,400 ounces of gold using a 0.5g/t Au cut-off grade from the Kadutu and Nyamikundu deposits.


President and CEO Robert Baldock commented "this move is in line with the Company's growth and diversification strategy of building a pipeline of operating projects in different regions to have several operational cash flow and profit generating areas to diversify risk. Monument has been studying opportunities in the DRC since late 2014 and notes that several significant listed mining operators have successfully developed and operated substantial gold producing projects in the DRC in recent years. Through their announcements, a number of multi-million ounce deposits have been discovered and accumulated into their substantial gold inventories".