Canadian Mining Journal

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GOLD: Monarques updates Wasamac resources containing 2.5M+ oz



A longitudinal section with classified resource blocks of the Wasamac gold project. (Image: Monarques Gold)

QUEBEC – Monarques Gold Corp. of Montreal has updated the resources at its Wasamac gold project, acquired in September 2017 from Richmont Mines, 14 km southwest of Rouyn-Noranda. Monarques is counting 2.59 million oz. in measured and indicated resources plus 293,900 oz. in the inferred resource.

By resource category the deposit contains 3.99 measured tonnes at 2.52 g/t gold, 25.87 million indicated tonnes at 2.72 g/t, and 4.16 million inferred tonnes at 2.20 g/t gold. A cut-off grade of 1.0 g/t gold and a gold price of US$1,500/oz. were used in the calculations.

Monarques president and CEO Jean-Marc Lacoste said the numbers are important as they represent the ability to move most of the inferred material into the indicated category.

Drilling so far shows the Main zone is open to the east and at depth. Zones 2 and 3 are also open at depth. Further exploration is planned.

More detailed information about the Wasamac project is available at www.MonarquesGold.com.