The Beaufor mine, in Val-d'Or
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.