Monarch preparing to restart Beaufor mine, Beacon mill
Toronto-listed Monarch Mining is preparing to begin the restart of operations at the Beaufor mine and Beacon mill in the coming weeks, in preparation for the start of mining next year.
Rehabilitation work at the two sites is being carried out by 30 employees and more than 120 regular and part-time contractor personnel, the company said in an update on Wednesday.
Monarch has a budget of about C$12.5-million to bring the mine and mill back into operation.
CEO Jean-Marc Lacoste said that Monarch would be able to extract gold from two sources - the shaft and the ramp - instead of just one, which would increase the mine’s capacity.
The Beaufor mine was closed in 2019 and the nearby 750 t/d Beacon mill has been on care and maintenance since 2016. The mill is fully permitted to process up to 1.8-million tonnes of tailings, representing some nine years of ore processing at full capacity.
In terms of exploration at the Beaufor mine, Monarch has four underground drills currently operating on site and the 42 500-m drilling programme is about 85% complete.
“We are extremely pleased with the results obtained to date and are looking forward to seeing what the next drill results will show,” said Lacoste.
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