QUEBEC – Monarques Gold Corp. of Quebec City is considering its options for processing the ore from its Croinor gold project 70 km east of Val d’Or. Under consideration are custom milling or acquiring the Beacon mill.
The Croinor project has proven and probable reserves of 541,534 tonnes averaging 6.77 g/t Au and containing 117,870 oz of gold. The capital cost (including $15 million in sustaining and working capital) is $42.3 million, to be spent over a construction period of 18 months. Annual gold output would be between 21,259 and 40,540 oz.
The company completed a prefeasibility study in 2014, and says the recent improvement in the gold price increases the possibility of putting it into production. Please see www.MonarquesGold.com/en/Our-Assets/Val-d-Or/Croinor-Gold.