LaFleur Minerals (CSE: LFLR) reported additional drill results from its program on the Swanson Gold project in northwestern Quebec. The stock dropped.
Highlights included hole SW-26-124 at the Bartec target which intersected 6.05 grams of gold per tonne over 8 metres. This is the first modern-day drill hole completed at Bartec since 1987.
At the Jackson target, hole SW-26-111 returned 1.45 grams of gold per tonne over 7.70 metres. Meanwhile Jolin’s results were led by hole SW-26-103 intersecting 1.77 grams of gold per tonne over 6.45 metres.
“At Jackson, we have now intersected gold over a 1,200-metre corridor west-northwest of the historical showing, and at Jolin, several holes returned multiple mineralized intervals,” said Andrew Elinesky, LaFleur’s CEO.
Located in the Abitibi Gold Belt 66 kilometres from Val-d'Or, Quebec, Swanson is a 19,214 hectare project hosting 464 mineral claims and 1 mining lease. The project includes three gold-bearing target zones supported by over 36,000 metres of historical drilling data.
Although some of its holes returned encouraging grades, the results did not demonstrate strong continuity. LaFleur’s stock, which has fallen more than 18% since Sept. 22, dropped an additional 2.86% Monday morning in Toronto.
Next steps
Following these results, Elinesky says Bartec has moved “straight to the top” of the company’s follow-up drilling list.
Marc Ducharme, the company’s vice-president of exploration, added, “We are convinced that the Swanson Gold Project has the potential to host several large-scale, gold deposits.”
According to a March 2026 preliminary economic report, the site has a $101 million (US$70.84 million) net present value (NPV) and an after-tax internal rate of return (IRR) of 65%.
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