Beaufor mining complex. (Image courtesy of Monarch Gold)
Monarch Mining (TSX: GBAR) has awarded the contract for a new resource estimate at the Beaufor gold mine to BBA. The mine, located 20 km north of Val d’Or, Quebec, produced over 1.1 million oz. of gold and Monarch says it still has strong exploration potential.
Monarch suspended production at Beaufor in June 2019, and the following May, the company sold a 3% net smelter return on production to raise C$5 million and start a 42,500-metre drilling program. The program tested underground high grade intervals and isolated resource blocks, near-surface targets, targets below the current mine workings, and regional exploration targets.
