Monarch Mining Corp (TSX: GBAR) this morning significantly expanded the size of its McKenzie Break property, adding 19.4 square kilometres of claims to the Val-d’Or property. The property was significantly expanded following the staking of additional claims.
The expansion saw the staking of 36 additional claims to the south of the current property boundaries. In total, the property now covers a total of 70.7 square kilometres, with the recent staking focused on covering the extension of favourable geology and magnetics signatures on the property.
The currently ongoing 14,500 drill program is also now slated to test recent locations on these new claims. The new area is reportedly geologically and geophysically similar to the area where Monarch has already seen success on the property. The property as a whole currently has a resource consisting of 145,982 indicated ounces of gold, as well as 250,593 inferred ounces of gold within both a pit constrained and underground model.
Monarch Mining last traded at $0.88 on the TSX.
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