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Monarch Mining reports first quarter results

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Global Mining Review,

Monarch Mining Corp. has reported its results today for the first quarter ended 30 September 2021.

“After finalising our various financings in August, Monarch’s activities were back up to full speed and all our teams are now working on advancing our mining projects, mainly Beaufor and McKenzie Break,” said Jean-Marc Lacoste, President and CEO of Monarch. “During the quarter, we continued to prepare the Beaufor Mine and the Beacon Mill to resume operations by June 2022. We are also very actively exploring at the Beaufor Mine with four underground drills in operation, with the ongoing objective of increasing our gold resource. The latest results from our 42 500-m programme show that the mine remains open at depth and has excellent high-grade exploration potential.

“At McKenzie Break, the latest results from the expanded 20 000-m programme show a nice discovery 1 km south of the deposit, suggesting there may be a significant gold-bearing structure linking the deposit to this new discovery, and we are planning more drilling in 2021 – 2022 to test that assumption,” Lacoste continued. “Regardless,” he added, “the McKenzie Break deposit continues to show excellent exploration potential to the south, east and at depth. Those exploration results, along with the eventual restart of Beaufor and Beacon, should enable Monarch to create sustainable value for our shareholders.”

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