Monument started its current Buffalo Reef exploration program in 2010 with an initial $0.8 million budget for 5,700 meters of drilling in 33 holes. As of December 2012 a total of 13,516 meters in 178 holes have been drilled:
2010-October 2011: 947 meters in 8 holes
Oct 2011-June 2012: 3,172 meters in 17 holes
July 2012-Dec 2012: 9,397 meters in 153 holes
The first 8 drill holes (MBRDD001 to MBRDD008) totaling 947 meters were drilled for metallurgy testing and were completed by October 2011. Drilling since October 2011 focused on exploration and resource definition adjacent to and along strike from the known North, Central and South resources, including the area between Buffalo Reef South and the Selinsing pit.
The FY2013 Buffalo Reef drilling, budgeted at US$4.44 million, not including assays and labor, commenced July 1, 2012 and includes 5,171m reverse circulation (RC) drilling and 10,825m diamond drilling. As of December 31, 2012, 50 diamond drill holes (MBRDD025 to MBRDD073) totaling 4,785.9m and 93 RC drill holes (MBRRC167 to MBRRC259) totaling 4,611m have been completed. From January 1, 2013 to March 31, 2013 a total of 26 drill holes totaling 3225.8m have been completed at Buffalo Reef (sampling and/or assays for these drill holes are in progress). Drilling continues at Selinsing and Buffalo Reef.