- Monarch Mining Corporation (GBAR) released additional results from a 2021-2022 underground drilling program at its Beaufor Mine gold project, east of Val-d’Or, Québec
- The recently received results are from the W and 140 zones in the upper level of the Beaufor mine, and include 37.59 g/t Au over 2.5 metres, 29.79 g/t Au over 2.45 metres, 21.7 g/t Au over 2.87 metres, 10.09 g/t Au over 3.6 metres, 418.0 g/t Au over 0.63 of a metre and 67.1 g/t Au over 1.1 metre
- Additional holes are now being drilled to allow the two zones to be converted into reserves and included in a future mine plan. Monarch has five drill rigs underground
- Monarch Mining Corporation (GBAR) is trading steady at C$0.38 at 11:10 am ET
Monarch Mining (GBAR) has released additional results from a 2021-2022 underground drilling program at its Beaufor Mine gold project.
The project is located east of Val-d’Or, Québec.
The recently received results are from the W and 140 zones in the upper level of the Beaufor mine, and include 37.59 g/t Au over 2.5 metres, 29.79 g/t Au over 2.45 metres, 21.7 g/t Au over 2.87 metres, 10.09 g/t Au over 3.6 metres, 418.0 g/t Au over 0.63 of a metre and 67.1 g/t Au over 1.1 metre.
The results indicate the potential extension at depth of both zones, which are part of Monarch’s near-term mining plan using the existing ramp access.
Monarch’s President and CEO, Jean-Marc Lacoste stated that this program continues to generate strong drill results.
“In particular, these latest results confirm the high-grade nature and potential depth extension of the W and 140 zones, which are currently defined near surface and are part of our plan for near-term mining using the existing ramp. We will definitely focus our additional drilling on extending these zones at depth.”
Additional holes are now being drilled to allow the two zones to be converted into reserves and included in a future mine plan. Monarch has five drill rigs underground.
Monarch Mining Corporation is a fully integrated mining company that owns four projects, including the Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years and hopes to do more.
Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned 750 tpd Beacon Mill.
Monarch owns 29,504 hectares of mining assets in the prolific Abitibi mining camp that host a combined measured and indicated gold resource of 478,982 ounces and a combined inferred resource of 383,393 ounces.
Monarch Mining Corporation (GBAR) is trading steady at C$0.38 at 11:10 am ET.
