LaFleur Minerals (CSE: LFLR) has published a mineral resource estimate for its recently acquired Swanson Project, found in the Abitibi Greenstone Belt of Quebec. The project, acquired from the now-defunct Monarch Mining Corp, had a historical resource that previously could not be relied upon.
Highlights of the mineral resource estimate include:
- 123,400 indicated ounces of gold at an average grade of 1.8 g/t
- 64,500 inferred ounces of gold at an average grade of 2.3 g/t
The revised estimate includes drilling conducted at the property from 2021 and 2022, resulting in a substantial 8% increase to the indicated resource, and a 626% increase to the inferred resource. The resource is based on 242 surface drill holes tolling 36,271 metres, and covers an area measuring 475 metres long by 425 metres wide and 500 metres deep.
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Following the completion of the mineral resource estimate, LaFleur has indicated that it intends to proceed with a recommended phase one exploration program. The program will see LaFleur conduct a high resolution magnetic-VLF-EM geophysical survey, a soil sampling program, as well as prospecting and geological mapping. Drilling is currently plated for late 2024 and early 2025 as well.
“Swanson benefits from being an advanced exploration and resource stage project with a large property position hosting numerous significant gold showings. The substantial increase in the total number of gold ounces from the limited recent drilling demonstrates the significant growth potential of the deposit and of the Swanson Gold Project in general,” commented Paul Teniere, CEO of LaFleur.
LaFleur Minerals last traded at $0.335 on the CSE.
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