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Monarch aims to restart Beaufor in next 8 to 14 months

29th January 2021

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Gold miner Monarch Mining is continuing to advance exploration at the Beaufor mine, in Val-d’Or, Quebec, with the goal of growing the resource and restarting production in a timeframe that takes advantage of the favourable gold market.

The latest resource estimate for Beaufor confirms that there is still significant mineralisation in the mine, CEO Jean-Marc Lacoste said on Thursday.

It is the company’s goal to restart the mine in the next 8 to 14 months, he added.

The 2020 mineral resource estimate area covers a strike length of about 1.5 km by a width of 900 m, down to vertical depth of 1 200 m below the surface. The estimate indicates that measured resources of 121 000 t at 5.62 g/t for 21 900 oz and indicated resources of 310 100 at 7.10 g/t for 70 800 oz.

Inferred resources are 134 600 t at 6.96 g/t for 30 100 oz.

Commercial production at Beaufor began in the early 1930s and over the years it has produced more than 1.1-million ounces.

Edited by Creamer Media Reporter

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