- The feasibility study will indicate that the Wasamac deposit
will be mined using a top-down rather than a bottom-up
sequence.
- The initial parameters include a planned production rate of
6,000 tonnes per day, access to the deposit via twin ramps and the
use of the Rail-Veyor transport system.
- The project includes many large intersections that were drilled
by Richmont Mines in 2011-2012 and that were part of the resource
estimate done in October 2017 (see NI
43-101 report from Roscoe Postle Associates Inc.), including the
following (see Table 1 for best results):
-
- 6.40 g/t Au over a true width of 52.80 metres
- 7.28 g/t Au over a true width of 31.40 metres
- 4.61 g/t Au over a true width of 34.94 metres
- 2.83 g/t Au over a true width of 71.76 metres
- The goal of the study is to put the Wasamac gold deposit into
production at the lowest possible cost.
MONTREAL, Sept. 25, 2018 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques" or the "Corporation") (TSXV:MQR)
(OTCMKTS:MRQRF) (FRANKFURT:MR7) presented the initial parameters
today for the feasibility study to be carried out on its Wasamac
gold property by BBA. The study, to be completed in December 2018, will include assessment, design,
engineering and costing for the mine, the processing plant, the
tailings management facility and all the related services and
infrastructure required to develop and mine the Wasamac
deposit.
Monarques is taking a different approach to the project than
Wasamac's previous owner. The Corporation will harness the latest
technology and use a top-down rather than a bottom-up mining method
in its attempt to put the Wasamac deposit into production at the
best possible cost. Furthermore, the Corporation is opting for twin
ramps and the use of the Rail-Veyor system underground to haul the
mineralized material close to the railway, which will eliminate the
hefty capital expenditures associated with building a shaft. The
Rail-Veyor system is a promising new technology currently in use at
Agnico Eagle's Goldex project in Val-d'Or (see the Goldex Rail-Veyor
system).
The study also assumes a production rate of 6,000 tonnes per
day. In addition, the land acquired for the mill and tailings
facility provides major advantages as it lies alongside the Ontario
Northland railway track, on the other side of the Trans-Canada
Highway, farther away from the local communities.
"We are working hard to make Wasamac a success, both
economically and for the local communities," said Jean-Marc Lacoste, President and Chief Executive
Officer of Monarques. "We want this project to fulfill the economic
and environmental criteria and meet the local communities'
requirements, and we are confident that with BBA's help, we can
achieve that goal. We are also keeping open the option of custom
milling the ore at one of the sites identified by BBA's previous
study (see map of potential sites)."
The technical and scientific content of this press release has
been reviewed and approved by Marc-André Lavergne, Eng., the
Corporation's qualified person under National Instrument
43-101.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corporation (TSXV:MQR) is an emerging gold mining
company focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns
close to 300 km² of gold properties (see map), including the
Wasamac deposit (measured and indicated resource of 2.6 million
ounces of gold), the Beaufor Mine, the Croinor Gold (see video),
McKenzie Break and Swanson
advanced projects and the Camflo and Beacon mills, as well as five
promising exploration projects. It also offers custom milling
services out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements
The forward-looking statements in this press release involve
known and unknown risks, uncertainties and other factors that may
cause Monarques' actual results, performance and achievements to be
materially different from the results, performance or achievements
expressed or implied therein. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
Table 1 – Best drilling results on Wasamac
Hole
Number
|
Length
(metres)
|
From
(metres)
|
To
(metres)
|
True
Width
(metres)
|
Au Cut
Grade(1) (g/t)
|
Ag Cut
Grade(1) (g/t)
|
Zone
|
Vertical
Depth of
Intersection
(metres)
|
WS-11-61
|
705
|
544.00
|
627.00
|
65.66
|
2.16
|
-
|
Main
|
578
|
WS-11-65
|
849
|
738.00
|
792.90
|
46.60
|
3.45
|
-
|
Main
|
713
|
WS-11-66A
|
174
|
507.20
|
590.00
|
68.42
|
2.66
|
-
|
Main
|
534
|
WS-11-72
|
610
|
502.00
|
541.75
|
31.40
|
7.28
|
-
|
Main
|
513
|
WS-282-01
|
616
|
483.00
|
563.53
|
69.47
|
2.97
|
-
|
Main
|
506
|
WS-282-02
|
615
|
476.85
|
540.00
|
52.80
|
6.40
|
0.85
|
Main
|
488
|
WS-282-03
|
591
|
450.20
|
535.00
|
71.76
|
2.83
|
0.31
|
Main
|
470
|
WS-289-01
|
597
|
493.20
|
567.30
|
56.70
|
3.70
|
-
|
Main
|
526
|
WS-292-01
|
618
|
537.50
|
581.00
|
34.94
|
4.61
|
1.19
|
Main
|
549
|
WS-302-02
|
678
|
570.00
|
611.80
|
29.89
|
3.70
|
-
|
Main
|
590
|
WS-11-107
|
531
|
497.00
|
502.17
|
4.01
|
6.11
|
-
|
1
|
469
|
WS-11-123
|
826
|
703.20
|
748.00
|
37.14
|
2.45
|
-
|
1
|
675
|
WS-11-74A
|
870
|
786.95
|
826.00
|
32.88
|
2.17
|
-
|
2
|
752
|
WS-390-01
|
618
|
526.70
|
543.70
|
11.77
|
3.43
|
-
|
2
|
529
|
WS-392-02
|
391
|
310.00
|
319.00
|
7.01
|
3.80
|
7.34
|
2
|
303
|
WS-393-01
|
558
|
492.60
|
505.00
|
9.45
|
3.37
|
4.42
|
2
|
487
|
WS-403-03
|
447
|
383.80
|
392.30
|
7.20
|
7.12
|
-
|
2
|
355
|
WS-404-02
|
480
|
398.25
|
411.80
|
11.11
|
5.16
|
0.73
|
2
|
384
|
WS-406-01
|
406
|
331.40
|
346.40
|
12.11
|
3.56
|
-
|
2
|
322
|
WS-11-95
|
608
|
550.20
|
565.80
|
12.17
|
4.52
|
-
|
3
|
550
|
WS-11-100
|
676
|
597.80
|
615.30
|
12.87
|
3.63
|
-
|
3
|
600
|
WS-11-113A
|
486
|
431.55
|
443.00
|
11.26
|
2.96
|
-
|
3
|
316
|
WS-458-02
|
441
|
327.35
|
338.00
|
7.81
|
5.19
|
0.53
|
3
|
310
|
WS-480-01
|
679
|
578.00
|
585.00
|
5.22
|
7.09
|
2.00
|
4
|
550
|
(1) High values are
cut at 35 g/t
|
Table 2 – Monarques Gold Measured and Indicated
Resource
|
Tonnes
(metric)
|
Grade
(g/t Au)
|
Ounces
|
Wasamac
property1
|
|
|
|
Measured
Resources
|
3.99 M
|
2.52
|
323,300
|
Indicated
Resources
|
25.87 M
|
2.72
|
2,264,500
|
Total
|
29.86 M
|
2.70
|
2,587,900
|
Croinor Gold
mine2
|
|
|
|
Measured
Resources
|
80,100
|
8.44
|
21,700
|
Indicated
Resources
|
724,500
|
9.20
|
214,300
|
Total
|
804,600
|
9.12
|
236,000
|
Swanson
property3
|
|
|
|
Indicated Resources
(pit constrained)
|
1,694,000
|
1.80
|
98,100
|
Indicated Resources
(underground)
|
58,100
|
3.17
|
5,900
|
Total
|
1,752,100
|
1.85
|
104,100
|
McKenzie Break
property4
|
|
|
|
Indicated Resources
(pit constrained)
|
939,860
|
1.59
|
48,133
|
Indicated Resources
(underground)
|
281,739
|
5.90
|
53,448
|
Total
|
1,221,599
|
2.58
|
101,581
|
Beaufor
Mine5
|
|
|
|
Measured
Resources
|
74,400
|
6.71
|
16,100
|
Indicated
Resources
|
271,700
|
7.93
|
69,300
|
Total
|
346,200
|
7.67
|
85,400
|
Simkar Gold
property6
|
|
|
|
Measured
Resources
|
33,570
|
4.71
|
5,079
|
Indicated
Resources
|
208,470
|
5.66
|
37,905
|
Total
|
242,040
|
5.52
|
42,984
|
TOTAL
COMBINED
|
|
|
|
Measured and
Indicated Resources
|
|
|
3,157,865
|
1 Source:
Technical Report on the Wasamac Project, Rouyn-Noranda, Québec,
Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe
Postle Associates Inc.
|
2
Source: Monarques prefeasibility study (January 19, 2018) and
resource estimate (January 8, 2016)
|
3 Source:
NI 43‐101 Technical Report on the Swanson Project, June 20, 2018,
Christine Beausoleil, P.Geo., and
Alain Carrier, P.Geo., M.Sc., of InnovExplo Inc.
|
4 Source:
NI 43‐101 Technical Report on the McKenzie Break Project, April 17,
2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng.,
of Geologica Groupe-Conseil Inc. and Christian D'Amours, P.Geo., of
GeoPointCom Inc.
|
5 Source:
NI-43-101 Technical Report on the Mineral Resource and Mineral
Reserve Estimates of the Beaufor Mine as at September 30, 2017,
Val-d'Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy,
Eng.
|
6 Source:
MRB et Associés (January 2015)
|
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SOURCE Monarques Gold Corporation