Flagship Croinor Gold Mine Has Great Potential To Become A Producer
Company Is Well Financed, Including $9 Million In Credits From Quebec Government
Highlights of The Main Transaction
- Monarques will acquire all of Richmont's mining assets, properties and claims in Quebec.
- Monarques will become the owner and operator of the Beaufor mine and the Camflo mill.
- Monarques to retain Richmont's highly experienced Quebec-based site teams.
- Richmont will hold a 19.9% interest in the Corporation, inclusive of a $2.0 million investment by Richmont.
Why Monarques Gold?
- Flagship Croinor Gold Mine Has Great Potential To Become A Producer
- Company Is Well Financed, Including $9 Million In Credits From Quebec Government
- 23.20 G/T AU Over 0.4 M and 15.85 G/T AU Over 1 M
- Hole CR-17-532 intersected 6.96 g/t Au over 15 metres (Read Release)
- Including 17.1 g/t Au over 5.9 metres
- Recently acquired 750 ton-per-day Beacon mill
- Major Shareholders include: Rob McEwen and Nemaska Lithium
Croinor Gold Property
Flagship project at the prefeasibility stage
- 100% interest in the Croinor Gold property, a gold mine project that is currently at the prefeasibility stage
- Property consists of one mining lease and two non-contiguous blocks of claims for a total of 335 claims over a 151 km² area. A 1.5% NSR is applicable on the mining lease and only 44 claims.
- Drilling program will test a diorite-hosted gold-bearing zone that returned grades of up to 38.7 g/t Au over 3.8 metres in historical drilling (see release)
- Four drill holes of the program (Figure 1) confirmed the presence of multiple gold zones in the western extension of "Diorite A", with results including: 11.30 g/t Au over 0.7 metres in Hole CR-17-03; 15.85 g/t Au over 1.0 metres in Hole CR-17-04; 14.85 g/t Au over 0.7 metres in Hole CR-17-05; and 23.20 g/t Au over 0.4 metres in Hole CR-07-06
Simkar Gold Property
NI 43-101 Gold Resource 20 km from Val-d’Or
- 100% interest in the Simkar Gold property
- located 20 kilometres east of Val-d’Or, in the heart of the Abitibi Greenstone Belt.
- Comprised of two mining concessions and 15 claims covering an area of 5 km², and is subject to a 1.5% NSR.
- NI 43-101 (click here)
The Simkar Gold property is the result of a merger of the Simkar and Texsol properties. The transaction was announced by way of press release on June 26, 2014.
Regcourt Gold Property - Val d'Or
- 100% interest in the Regcourt Gold property
- Property is located at the eastern end of the Val-d’Or gold mining camp, some 30 km east of Val-d’Or, and is easily accessible via Route 117.
- Consists of 94 claims covering an area of 38 km2 near the centre of the western border of Vauquelin Township
- Property is subject to a 1.5% and 2.5 % NSR.
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