Since the Prospectors and Developers Association of Canada conference wrapped up in early March, Monarch Gold (TSX: MQR; US-OTC: MRQRF) has fielded calls from three mining companies about possible joint-ventures to further explore its Croinor gold project, 55 km east of Val-d’Or in Quebec.
The project has a fully permitted past-producing mine that is open at depth and the junior has already found new zones of mineralization to the northeast of the main deposit on the 151-sq.-km property.
“We hold all of it and are seeking partnerships because it’s too vast for us,” Jean-Marc Lacoste, Monarch Gold’s president and CEO, says. “We have had three serious enquiries — two majors and a mid-tier. They knocked on our door because of the potential of the Croinor deposit.”
Currently, the deposit contains 236,000 oz. gold in the measured and indicated category (804,600 tonnes grading 9.12 grams gold per tonne) and 38,400 oz. gold in the inferred category (160,800 tonnes averaging 7.42 grams gold), but the known resource has been chased down only to a depth of 350 to 400 metres, Lacoste says, and is open at depth.
Continue reading at The Northern Miner.