Beaufor Mine Produced 19,562 ounces of gold
Located in one of the best mining jurisdictions in Canada
Why Monarques Gold?
- A gold producer with the Beaufor Mine (gold production of 19,562 ounces in 2016; source Richmont 2016 annual report) located in one of the best mining jurisdictions in Canada.
- A large portfolio of mining assets, including the Beaufor Mine, two mills (Camflo and Beacon), two advanced projects (Wasamac and Croinor Gold) and eight exploration projects covering more than 240 km2 in the Abitibi region.
- Upside potential and leverage to the gold price with the Wasamac project.
- NI 43-101 proven and probable reserves of 162,790 ounces of gold, measured and indicated resources of 1.76 million ounces and inferred resources of 1.67 million ounces (see table below).
- Over 150 highly experienced, qualified employees will join the Monarques team.
- A strong financial position, with over $12 million in cash and cash equivalents.
Q2 2018 Production Highlights
- Monarques produced 5,444 ounces of gold in Q2 2018, a 62% increase over the 3,380 ounces produced in the prior quarter by the previous owner, and a 16% increase over the quarterly average of 4,715 ounces produced during the prior nine-month period.
- The Corporation recorded revenue of $10.3 million in the second quarter based on an average gold price of $1,612 per ounce (US $1,268) and 5,444 ounces sold combined with toll milling activities.
- The Corporation reported strong results from its drilling program at the Beaufor mine, including 61.48 g/t Au over 3.9 metres (see press release dated January 11, 2018), which confirms the strong exploration potential in the area east of Zone Q.
- Poured its first gold bar from the Beaufor mine ore since acquiring the mine on October 2, 2017.
- The gold bar weighs 756 ounces (23.5 kg)
- “Today Monarques marks a major milestone in its history as it joins the coveted status of gold producers,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques.
- Announced custom milling contract with Eldorado Gold Corporation
- To process ore from the Lamaque gold mine, located east of Val-d’Or, Quebec
- Contract provides for the Corporation to process some 50,000 to 55,000 tonnes of ore from the Lamaque mine ore at the Camflo mill until December 31, 2017
Croinor Gold Property
At 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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