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Monarques Gold Corp. (TSXV:MQR) announced that it has retained BBA to undertake a conceptual study for the transportation of gold-bearing material from the Wasamac deposit to an existing processing plant in the region for custom milling.
Monarques Gold Corp. (TSXV:MQR) announced that it has retained BBA to undertake a conceptual study for the transportation of gold-bearing material from the Wasamac deposit to an existing processing plant in the region for custom milling.
The company says the move has the potential to be a “game changer.”
As quoted in the press release:
Since acquiring the Wasamac Gold project from Richmont Mines, Monarques’ management has been working towards unlocking the tremendous potential value of the project.
Monarques’ management has made it a priority to investigate any and all avenues to make Wasamac economical and profitable at a significantly lower gold price than the scenario that the previous owner was working with. A major breakthrough that Monarques has achieved is the realization that the Wasamac Gold project can be serviced by bulk, railcar transport. As such, Monarques could eliminate the extremely large capital outlay required to build a mill as it could potentially ship the Wasamac ore to any of a number of possible custom milling opportunities in the vicinity of Wasamac .
Jean-Marc Lacoste, president and CEO of Monarques, commented:
We look forward to working with BBA to confirm our belief that the Wasamac Gold project could be profitable at a significantly lower gold price than what was envisioned under the previous owner. This is a potential game-changer for Monarques and its shareholders. Following the update of the Wasamac resource estimate last October, which established a measured and indicated resource of 2,587,900 ounces of gold (see press release), we decided to look into the various possible operating scenarios, including custom milling. This study will allow us to collect data and information for the option of mining the Wasamac deposit using custom milling at one of the processing plants in Quebec and Ontario. This option has the advantage of significantly reducing the initial cost of the project as we would not have to build a mill or a tailings facility.
Click here to read the full Monarques Gold Corp. (TSXV:MQR) press release.