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Monarch Gold Corp.
Summary
| Project: | Fayolle | |
|---|---|---|
| Deposit: | Fayolle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/10/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-9-2019: Monarch Gold Corp. announces a Resource Estimation report for its Fayolle deposit at the Fayolle project. New mineral resource estimate for project. Montreal, Quebec, Canada, September 10, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corp | |
| Resources: | (Resource, Ind.): 706Kt @ 4.89g/t Au for 111Koz Au contained at Fayolle | |
| CP/QP: | [Resources]: Alain Carrier (InnovExplo Inc.) | |
| ABSTRACT: | Montreal, Quebec, Canada, September 10, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to provide the results of a new mineral resource estimate for its Fayolle gold project, located 35 kilometres north east of Rouyn-Noranda, near its Camflo mill. The estimate was prepared by Alain Carrier, P.Geo., M.Sc., of InnovExplo Inc., a qualified and independent person as defined by National Instrument 43-101. The estimate was prepared using all available information, including new results from the 2012, 2014 and 2019 drilling programs. The effective date of the mineral resource estimate is August 30, 2019. “With this estimate, we now have a combined Measured and Indicated resource of 3.3 million ounces of gold and an Inferred resource of 1.1 million ounces on our six advanced projects, including the Wasamac project with its feasibility study (see press release dated December 3, 2018) and the Croinor Gold project with its prefeasibility study,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “At this point in time, there are no other projects in the Abitibi region that are closer to a production decision.” “As for Fayolle, these results confirm its near-surface high-grade gold resource, which was what we were looking for when we acquired the property. As mentioned before, Fayolle is a perfect fit with our other similarly sized advanced mining projects, namely Beaufor, Croinor Gold, McKenzie Break and Swanson, which are all located near our wholly owned Camflo and Beacon mills (see map). Furthermore, we believe that we’ll be able to increase Fayolle’s gold resource, as the deposit remains open at depth and along strike,” added Mr. Lacoste. | |
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