- Write by:
-
Friday, July 29, 2022 - 13:49:00
-
455 Visit
-
Print
Mining News Pro - Monarch Mining has produced its first gold bar from the Beaufor mine and Beacon mill located east of Val-d’Or, Que., achieving what the company considers to be its most significant milestone since listing in January 2021.
“Over the past 18 months, we have successfully restarted the Beaufor mine and refurbished the Beacon mill with a new production and exploration strategy, while dealing with the many challenges caused by the pandemic and recent geopolitical and economic events,” Jean-Marc Lacoste, president and CEO of Monarch, commented.
The Beaufor mine and Beacon mill have produced over 1.1 million oz. of gold since it first opened in the 1930s. Monarch acquired a 100% interest in both assets between 2016 and 2017, with a view of rebooting the gold-producing operation.
Mining has already restarted at the Beaufor mine, with 23,914 tonnes of ore averaging 4.76 g/t gold stockpiled to date. During the production for the month of July, the Beacon mill (750 t/d capacity) achieved a record day of 765 tonnes of ore and ore recovery ranged from 96.3% to 98.7%. The data is still preliminary at this stage of the milling process, given its pre-commissioning started only two months ago.
“The next step will be to gradually increase the production rate of the Beacon mill to reach commercial production, a goal we expect to achieve in the coming months. This will ultimately allow us to recoup our investment and fund the development of our other promising exploration projects, including McKenzie Break, Swanson and Croinor Gold, which continue to show excellent results,” Lacoste added.
The above-mentioned projects are all located near the Beacon mill. Monarch owns 295 km2 of mining assets in the Abitibi mining camp that host a combined measured and indicated gold resource of 478,982 oz. and a combined inferred resource of 383,393 oz.
Short Link:
https://www.miningnews.ir/En/News/621841
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
No comments have been posted yet ...