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Monarch Gold to assess Wasamac silver potential

Published by
Global Mining Review,

Monarch Gold Corp. has announced that it will undertake an internal review of its Wasamac project in Quebec, Canada, with a view to creating value by including the silver content associated with the current gold mineralisation, in light of the recent significant strengthening of the silver market.

“Silver prices are up 44% in the last year and have more than doubled since mid-March of this year,” said Jean-Marc Lacoste, President and CEO of Monarch. “Although several high-grade silver intersections were identified in previous drilling on the Wasamac property, analysis of the silver potential was limited. Given the current strong precious metals market and rising silver prices, we believe that a thorough review of Wasamac’s silver potential is fully warranted and could add value to the property.”

The 2018 Wasamac feasibility report stated that metallurgical testwork and drill core assays had shown that all mineralised zones at Wasamac contain variable amounts of silver, but that no credit for silver had been considered in the economic analysis as silver had not been estimated in the mineral resources or incorporated in the mine plan.

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Gold mining news Silver mining news Canadian mining news