Canadian Mining Journal

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GOLD: Beaufor mine pours first gold under new owner Monarques



QUEBEC – Monarques Gold Corp. of Montreal has poured the first gold bar at the Beaufor mine 27 km northeast of Val d’Or since it acquired the property from Richmont Mines earlier this month. The event vaults Monarques into the ranks of gold miners.

Monarques has poured the first gold bar from a mine that it owns – Beaufor – in the Camflo mill. (Image: Monarques Gold)

“Since acquiring the assets of Richmont Mines in Quebec, we have worked hard to optimize the Beaufor mine’s performance, including signing custom milling contracts so that the Camflo mill may operate at full capacity. Our main goal for the Beaufor mine is to restore the mine’s profitability and extend its life,” said Monarques president and CEO Jean-Marc Lacoste.

The Beaufor mine has proven and probable reserves of 203,500 tonnes grading 6.86 g/t gold, measured and indicated resources of 353,000 tonnes grading 7.37 g/t, and inferred resources of 36,000 tonnes at  6.44 g/t gold. The mine produced 19,562 oz. of gold in 2016.

Monarques also owns the advanced Croinor and Wasamac projects, the Camflo and Beacon mills, and six exploration projects in Quebec. Please see www.MonarquesGold.com.