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Monarques strengthens its position around Wasamac property

Published by , Assistant Editor
Global Mining Review,

Monarques Gold Corp. (Monarques) has consolidated its position around its Wasamac property in Quebec through an exchange of mineral claims with Globex Mining Enterprises Inc. (Globex).

The transaction has enabled Monarques to extend the eastern part of the Wasamac property by 16 additional claims and the western part of the property by an additional claim adjacent to the land acquired last summer, where the proposed mining facilities will be located, as indicated in the feasibility study issued on 3 December 2018 (see the feasibility study). The transaction also extends the Corporation's McKenzie Break property by adding a claim adjacent to that property and includes an agreement to store the old Wasamac drill core on Globex's Francoeur property for a period of two years.

In return, Globex receives 63 Monarques mining claims acquired during the transaction with Richmont Mines.

"This transaction will make the Wasamac project even more attractive to a potential partner," said Jean-Marc Lacoste, President and CEO of Monarques.

"In fact, Wasamac has been attracting considerable interest since the feasibility study was filed."

Finally, the Corporation has received a letter from Quebec's Ministry of Energy and Natural Resources confirming the official status of the three mining concessions on the Wasamac property.

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