The following is a summary of the work done to date at the
- Rehabilitation of 900 metres of rail track including four new switches on level 20 to allow for a sustained maximum haulage rate between the Q zone and the shaft.
- Rehabilitation of the main ramp from level 20 to the Q zone on level 132, which is needed for development and production to resume.
- Recommissioning of four R1300 LHD loaders, three 30-tonne trucks, including the AD30, and two 15-tonne trucks.
- Dismantling of the surface ventilation system at the Pascalis shaft and reassembly near the old Beaufor #4 shaft to improve the ventilation system in the Q, W and 350 zones.
- Installation of a 25-kV electrical system to power the future development of the W zone and the new ventilation system.
- Rehabilitation of the surface ore bins to make them safer.
At the Beacon mill, major work has been undertaken since the mill was last commissioned in 2014:
- The administrative offices, drying rooms, warehouses and electrical room have been renovated.
- The electrical distribution system and mill’s internal piping have been replaced.
- The main crusher has been dismantled to allow for a complete overhaul.
- The pumping system has been improved.
- The mill’s internal conveyor system has been inspected, with major repairs made to the main conveyor under the grizzly and the outside rock breaker.
“This work is part of our estimated budget of approximately
“In terms of exploration at the
The technical and scientific content of this press release has been reviewed and approved by
About Monarch
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION: | |
1-888-994-4465 | |
President and Chief Executive Officer | jm.lacoste@monarchmining.com |
Mathieu Séguin | 1-888-994-4465 |
Vice President, Corporate Development | m.seguin@monarchmining.com |
1-888-994-4465 | |
Senior Geologist – Communications Specialist | e.tremblay@monarchmining.com |
www.monarchmining.com
Table 1: Monarch combined gold resources
Mineral Resource Estimates | Tonnes (metric) | Grade (g/t Au) | Ounces |
Measured Resources | 328,500 | 5.7 | 59,900 |
Indicated Resources | 956,400 | 5.2 | 159,300 |
Total Measured and Indicated | 1,284,900 | 5.3 | 219,200 |
Total Inferred | 818,900 | 4.7 | 122,500 |
McKenzie Break2 | |||
In-pit | |||
Total Indicated | 1,441,377 | 1.80 | 83,305 |
Total Inferred | 2,243,562 | 1.44 | 104,038 |
Underground | |||
Total Indicated | 387,720 | 5.03 | 62,677 |
Total Inferred | 1,083,503 | 4.21 | 146,555 |
In-pit | |||
Total Indicated | 1,864,000 | 1.76 | 105,400 |
Total Inferred | 29,000 | 2.46 | 2,300 |
Underground | |||
Total Indicated | 91,000 | 2.86 | 8,400 |
Total Inferred | 87,000 | 2.87 | 8,000 |
TOTAL COMBINED4 Measured and Indicated Resources Inferred Resources | 478,982 383,393 | ||
1 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 2 Source: NI 43-101 Technical Evaluation Report on the McKenzie Break Property, 3 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 4 Numbers may not add due to rounding. |
Historical Mineral Resource Estimate | Tonnes (metric) | Grade (g/t Au) | Ounces |
Croinor Gold1,2 | |||
Measured Resources | 80,100 | 8.44 | 21,700 |
Indicated Resources | 724,500 | 9.20 | 214,300 |
Total Measured and Indicated | 804,600 | 9.12 | 236,000 |
Total Inferred | 160,800 | 7.42 | 38,400 |
1 Source: Monarch Gold prefeasibility study ( 2 Numbers may not add due to rounding. |
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9c5dac1-f2bd-47c4-9248-53166b0460af
https://www.globenewswire.com/NewsRoom/AttachmentNg/d2e28baa-a982-497d-8261-94371f7cb657
https://www.globenewswire.com/NewsRoom/AttachmentNg/caf50c9d-0482-4b3a-b348-36ed63a30744
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9d6699f-a720-4bb1-a20f-70d39469e545
Monarch Mining : Photos of Beaufor and Beacon preparation work
Rehabilitation of 900 metres of rail track
Monarch Mining : Photos of Beaufor and Beacon preparation work
Recommissioning of loaders and trucks
Monarch Mining : Photos of Beaufor and Beacon preparation work
Dismantling surface ventilation system at the Pascalis shaft
Monarch Mining : Photos of Beaufor and Beacon preparation work
Beacon mill filter drum inspection
2021 GlobeNewswire, Inc., source