Monarch Mining Releases Updated Resource Estimate For McKenzie Break

Monarch Mining (TSX: GBAR) this morning released an update mineral resource estimate for its McKenzie Break property, located north of Val-d’Or Quebec. The updated estimate has reportedly seen a 44% increase in indicated gold resources, and close to a 300% increase in inferred gold resources.

The updated resource estimate is a result of drilling that took place on the property from 2018 through to 2020, following the acquisition from Agnico Eagle Mines in 2017. A total of 75 drill holes were conducted in that time with a total drill length of 20,037 metre that has now been included in the property’s resource estimate.

The new resource estimate, on a combined basis for constrained pit and underground models, now consists of 145,982 ounces of gold on an indicated basis at an average grade of 2.48 g/t, as well as 250,983 ounces of gold on an inferred basis at an average grade of 2.34 g/t gold. Additional drilling is expected to further increase and expand the current estimate.

The company has indicated that it will continue to develop the property through additional drill programs, however further details were not provided.

Monarch Mining last traded at $1.16 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned above. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Gold Prices Surge to Six-Month High, First-Ever Monthly Close Above $2,000

In a remarkable turn of events, the price of gold has surged to a six-month...

Friday, December 1, 2023, 10:31:00 AM

Why Trump and Musk Are Stirring Up Fort Knox Gold Drama

It may have something to do with the debt ceiling....
Monday, February 24, 2025, 04:28:00 PM

Amex Exploration Intersects 17.89 G/t Gold Over 8.40 Metres At Perron

Amex Exploration (TSXV: AMX) this morning reported a number of drill results from its ongoing...

Thursday, March 11, 2021, 07:44:29 AM

Lundin To Halt Candelaria Operations Temporarily, Pulls Guidance Following Second Union Strike

Lundin Mining (TSX: LUN) has seen mediation talks break down with a union representing 550...

Monday, October 19, 2020, 08:36:45 AM

Falcon Gold Begins Drilling At Central Canada Project

Falcon Gold Corp (TSXV: FG) has commenced the 2020 drill program at its Central Canada...

Tuesday, April 14, 2020, 08:43:39 AM