Monarques Gold Corp. has announced that it is to carry out a total of 50 000 m of drilling in 2018 at the Beaufor mine and the Croinor Gold property in Quebec, Canada.
30 000 m programme at Beaufor
According to Monarques Gold, the programme at the Beaufor mine will consist of 14 000 m of definition drilling and 16 000 m of exploration drilling. The programme is designed to follow up on the strong, high-grade results of the last drilling programme, which returned intersections of 61.48 g/t Au over 3.9 m, 39.05 g/t Au over 1.8 m and 15.44 g/t Au over 3 m from the Zone Q sector, as well as 12.33 g/t Au over 1.6 m and 14.25 g/t Au over 0.5 m from the Zone 1700 sector.
The aim of the new programme is to continue to test the mineralisation in the deposit extensions and at depth in order to increase the Beaufor mine mineral resource. The main drill targets for the programme are in the following sectors: Zone Q, Zone 1700, Zone 173, the western shear and the Beaufor fault at depth. Expectations for these targets are high based on the latest in-house interpretations and compilations.
"We strongly believe that this major investment in Beaufor could allow us to extend the life of the mine and possibly improve its economic profile," said President and CEO of Monarques, Jean-Marc Lacoste. "It is also perfectly aligned with our strategy of supporting the growth and profitability of our Abitibi mining operations."
20 000 m programme on Croinor GoldThe latest drilling programme on Croinor Gold enabled Monarques to increase the size of the deposit, which remains open along strike and at depth. The programme returned numerous intersections with high-grade gold over good widths, such as 13.1 g/t Au over 4.0 m, including 33.7 g/t Au over 1 m, at a vertical depth of 58 m in Hole CR-17-574, and 7.84 g/t Au over 9 m, including 37.8 g/t Au over 1 m and 12.7 g/t Au over 0.8 m, at a vertical depth of 197 m in Hole CR-17-577.
The purpose of the new 20 000 m programme, which will start in March 2018, will be:
- To continue testing the mineralisation at depth and to drill at the east and west ends of the deposit;
- To drill within the Croinor Gold deposit in areas with insufficient data, in order to increase the indicated resource of the zones of the block model; and
- To drill high potential targets in the vicinity of the deposit.
"Our understanding of the Croinor Gold deposit improved substantially last year," Lacoste said. "It is important to note that the results obtained during the last drilling programme continued to demonstrate the predictability of our geological model, which should make this next phase of work easier."
"We are committed to creating value for Monarques," he concluded. "We believe that these investments, combined with the resource calculations for the McKenzie Break and Swanson properties, will advance our mining projects significantly. All in all, 2018 is going to be a very busy year for Monarques."