The sale of a 0.5% net smelter return royalty on Monarch Gold‘s (TSX: MQR; US-OTC: MRQRF) Pandora property to Agnico Eagle Mines (TSX: AEM; NYSE: AEM) monetizes a non-core asset, and reduces the cost of acquiring the McKenzie Break and Swanson properties by $800,000, the junior says.
The Pandora royalty was part of the assets that Monarch acquired from Richmont Mines in October 2017, along with the McKenzie Break and Swanson properties.
Since drilling at McKenzie Break began in in 2018, Monarch has expanded the deposit and confirmed its high-grade potential.
Assays from the third and last set of drill results from its 13,945-metre drill program (61 holes) last year were released on March 20.
Highlights include …
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