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New Listing: Monumental Gold Corp (TSXV:MGLD)

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Monumental Gold is focused on the acquisition, exploration and development of mineral resource properties.

Additional Information:

Company: Monumental Gold Corp
Website: http://www.Monumental.gold
Stock Symbol: TSXV: MGLD
Date Published: May 10, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Monumental Gold Corp is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “MGLD”, following its initial public offering.

The company raised gross proceeds of $1,150,000 from the placement of 5,750,000 shares, including an over-allotment of 750,000 shares, priced at $0.20.

Clarus Securities acted as agent for the offering.

Monumental Gold is focused on the acquisition, exploration and development of mineral resource properties.

It has an option to acquire a 100% interest and title to the Weyman Property located about 77 kilometres northeast of the town of Princeton, British Columbia.

The main Weyman property area covers part of the southeastern margin of the Wild Horse batholith, a currently under-explored arc-related intrusion; thus, the primary mineral exploration target in the property area is a porphyry copper-molybdenum-gold deposit.

Three examples of copper-molybdenum-gold porphyry deposits in the southern Quesnel terrane are the Highland Valley deposits west of Logan Lake, the Copper Mountain deposits south of Princeton and the New Afton Mine near Kamloops.

The 2,969-hectare Weyman property is accessible by road from the southwest and north, with a high-voltage power transmission line crosses the southeastern part of the property.

The main Weyman property area is under-explored.

Based on historic work done on the property, the current airborne magnetic survey carried out by Monumental Gold in 2020, and the geologic setting of the property, the NI 43-101 Technical Report filed on Sedar recommends that further work be carried out for the potential discovery of a porphyry copper-moly-gold deposit.

In order to exercise its option Monumental Gold is required to make cash payments totalling $105,000, issue 200,000 shares and incur a minimum of $300,000 in exploration expenditures on the property over 24 months.

The shares are trading at $0.38.

For more information, please visit the company’s website www.Monumental.gold, contact Todd Macdonald, CEO, at 604-313-8368 or email todd@monumental.gold.

I’m Megan Edwards for Investmentpitch Media