Monarques Gold Corporation

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Monarques Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada.

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Monarques Gold Corporation

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Monarques Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large......

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8020 Admin

32 minutes ago

8020 Admin posted a press release Monarch Gold Acquires a Property with Exploration Potential Immediately West of its Wasamac Gold Deposit in MONARQUES GOLD CORPORATION



  • The new mining property consists of 24 claims located immediately west of the Wasamac deposit, which hosts a measured and indicated resource of 2.6 million ounces of gold (see table of gold resources).



  • The fault hosting the Wasamac deposit appears to extend onto the property, which has not been the subject of work in the area.



  • Monarch plans to carry out preliminary work to test the gold potential of the new property.



MONTREAL, Nov. 27, 2019 /PRNewswire/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce that it has acquired a mining property from Gwen Resources Ltd ("Gwen"), a private company. The property consists of 24 claims covering approximately 5 km2 and is located immediately west of the Wasamac property. The Wasamac property is wholly owned by Monarch and lies 15 km west of Rouyn-Noranda, in the Abitibi-Témiscamingue region of Quebec.


"The purpose of this transaction was primarily to secure the location of Wasamac's future mining infrastructure, for which we have just started the mining permit application process," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "When we had a closer look at the new property, however, we realized that it might have interesting exploration potential. In fact, the fault that hosts the Wasamac deposit seems to extend onto the property, which has not been the subject of work in this area. In addition, the main envelope of the Wasamac deposit lies about 500 metres from the property boundary, which makes the property even more interesting. We plan to conduct a preliminary exploration program to better assess its gold potential."


As consideration for this acquisition, Monarch issued 1 million common shares of its share capital to Gwen and will pay Gwen a total of $150,000 in cash, consisting of $75,000 on closing of the transaction and $75,000 six months after closing. Gwen will also be entitled to a 2.5% net smelter return (NSR) on the property. Monarch may buy back a 1.25% NSR for $2 million in cash. All common shares issued to Gwen are subject to a four month and one day hold period and, in addition, 500,000 of such shares are escrowed for a period of one year.


The transaction is subject to regulatory approval.


The technical and scientific content of this press release has been reviewed and approved by Louis Martin, P. Geo., the Corporation's qualified person under National Instrument 43-101.


ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns nearly 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.


www.monarquesgold.com


View original content to download multimedia:http://www.prnewswire.com/news-releases/monarch-gold-acquires-a-property-with-exploration-potential-immediately-west-of-its-wasamac-gold-deposit-300966187.html


SOURCE Monarch Gold Corporation

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8020 Admin

7 days ago

8020 Admin posted a press release Monarch Gold Files a Project Notice for Its Wasamac Gold Project with Quebec's Ministry of the Environment and the Fight Against Climate Change in MONARQUES GOLD CORPORATION



  • The Corporation is launching the Environmental Impact Assessment and Review (EIAR) process with the goal of putting its Wasamac gold deposit into production.



  • In December 2018, Monarch completed a positive feasibility study on Wasamac (based on a gold price of US$1,300 per ounce) with the following results:



    • Estimated average annual production of 142,000 ounces of gold over 11 years



    • Pre-tax net present value (NPV) of $522 million



    • Pre-tax internal rate of return (IRR) of 23.6%



    • Cash production cost of US$550 per ounce.





  • The proposed project will be based on the Mining 4.0 concept that combines new technologies and respect for the environment, in particular through the Rail-Veyor® electrically powered, remote-controlled underground haulage system.



  • Wasamac is a large-scale gold project that could potentially create several hundred high-quality jobs in the Abitibi region, Quebec.



  • Wasamac was selected as a pilot project by the Government of Quebec to be supported throughout the permitting process by the interdepartmental table announced by Minister Julien on November 19, 2019. The objective is to set up a mining project support service, harmonize processes between the various ministries to avoid duplication and thus accelerate the processing of authorizations required to start a mining project that respects best environmental practices.



MONTREAL, QC / ACCESSWIRE / November 20, 2019 / MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX:MQR) (OTC PINK:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has filed a project notice today with Quebec's Ministry of the Environment and the Fight Against Climate Change (MELCC) for its wholly-owned Wasamac gold project, located 15 km west of Rouyn-Noranda in the Abitibi-Témiscamingue region of Quebec. The project notice is the first step in the mining permit application process, which generally takes 18 to 24 months.


"Today marks a significant milestone in Monarch's history with the launch of the permitting process for production at the Wasamac property," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "Several factors led us to this decision, including the positive feasibility study conducted in December 2018, the strong gold market and the favourable financing and partnership climate for this type of project. In addition, Wasamac is expected to create more than 400 jobs during the construction stage and some 300 jobs once the mine goes into production. Monarch also intends to make Wasamac a Mining 4.0 project, combining new technologies and respect for the environment. The proposed project will feature new production technologies such as the Rail-Veyor® electrically powered, remote-controlled underground haulage system and will include an almost entirely electric fleet of production and development equipment. Our projections indicate that the use of electricity and automation will allow us to produce at a lower cost and minimize our environmental footprint."


Wasamac: A project in step with local communities


A Quebec-based company with a seasoned management team and a board of directors experienced in the development of large-scale mining projects such as Wasamac, Monarch is proactive when it comes to relations with host communities. "We listen to their requests and concerns and act accordingly," said Mr. Lacoste. "The transparency of the process is a priority for us."


Early in the EIAR process, prior to the filing of the project notice, the Corporation initiated consultations with certain stakeholders, including local residents living near the Wasamac project. These preliminary meetings allowed the main concerns associated with the project to be identified. The stakeholders targeted are listed in the project notice, and other stakeholders will be invited to similar information meetings and consultations as the process unfolds.


"In short, we are very proud to be launching this process to bring a major new Quebec gold mine into production," added Mr. Lacoste. "We are convinced that Wasamac could generate positive benefits for the various groups, communities and stakeholders that will be involved in this promising project managed here, by local people, for local people."


Summary of the project notice and preliminary timeline


Monarch prepared the project notice to present the preliminary background and important descriptive information for the Wasamac gold project. Broadly speaking, the Wasamac project consists of:



  • Operation of an underground mine producing 6,000 tonnes per day on average, with an expected mine life of 11 years;

  • Construction of underground ore haulage infrastructure;

  • Construction of a mineral processing plant;

  • Preparation of waste rock, tailings and overburden storage areas; and

  • Establishment of related infrastructure (power supply, telecommunications, heating, ventilation, water treatment, etc.).


The December 2018 feasibility study by BBA (see feasibility study) indicates that the Wasamac deposit hosts a measured and indicated mineral resource of 29.86 million tonnes at an average grade of 2.70 g/t Au, for a total of 2.6 million ounces of gold, and proven and probable mineral reserves of 21.46 million tonnes at an average grade of 2.56 g/t Au, for a total of 1.8 million ounces of gold, with the deposit remaining open along strike and at depth.


The project notice will be available online on the environmental assessment register within 15 days of receipt of the MELCC guidelines specifying the requirements for the environmental impact assessment. The public will also be able to consult the register to find project-related documents as the evaluation process unfolds.


Based on the project notice filed by the Corporation and the guidelines from the ministry, individuals, groups and municipalities will have a 30-day public consultation period during which they may submit their comments to the Minister on the issues that should be addressed in the impact assessment. The Minister will forward the relevant comments on issues that merit consideration in the project's impact assessment to the Corporation and publish them in the environmental assessment register.


Monarch will issue press releases with updates on the permit application process at each stage in the process.


The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation's qualified person under National Instrument 43-101.


ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns nearly 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.


- 30 -


FOR MORE INFORMATION:


Jean-Marc Lacoste 1-888-994-4465
President and Chief Executive Officer jm.lacoste@monarquesgold.com


Mathieu Séguin 1-888-994-4465
Vice President, Corporate Development m.seguin@monarquesgold.com


Elisabeth Tremblay 1-888-994-4465
Senior Geologist - Communications Specialist e.tremblay@monarquesgold.com


www.monarquesgold.com



SOURCE: Monarch Gold Corp.

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8020 Admin

16 days ago

8020 Admin posted a press release Monarch Gold Reports Its Results for the First Quarter of Fiscal 2020 in MONARQUES GOLD CORPORATION

MONTREAL, QC / ACCESSWIRE / November 11, 2019 / MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX:MQR) (OTC PINK:MRQRF) (FRANKFURT:MR7) reported its results today for the first quarter ended September 30, 2019. Amounts are in Canadian dollars unless otherwise indicated.


Highlights



  • First quarter revenues of $3.1 million from the sale of gold in inventory as at June 30, 2019, combined with the sale of a portion of the ounces recovered from the Camflo mill cleaning.

  • First quarter net earnings of $1.2 million or $0.005 per share, diluted, compared to a net loss of $1.9 million or $0.008 per share, diluted, last year.

  • Cash and cash equivalents of $6.5 million and investments with a fair value of $2.1 million as at September 30, 2019.

  • Production activities temporarily suspended at the Beaufor mine on June 27, 2019, and at the Camflo mill on July 10, 2019.

  • On August 19, 2019, the Corporation completed the acquisition of a 100% interest in the Fayolle property from Hecla Québec Inc. and Typhoon Exploration Inc.

  • On September 3, 2019, the Corporation announced the results of a new mineral resource estimate for its Monique property. The new estimate shows a pit constrained Inferred resource of 307,000 ounces and an underground Inferred resource of 354,400 ounces, for a total of 661,400 ounces of gold. Probe Metals Inc. can earn a 60% interest in the Monique property by spending an aggregate of $2,000,000 on exploration before January 2021.

  • On September 10, 2019, the Corporation announced the results of a new mineral resource estimate for its Fayolle gold project. The new estimate shows a pit-constrained Indicated resource of 405,600 tonnes at an average grade of 5.42 g/t Au for a total of 70,630 ounces of gold, and an underground Indicated resource of 300,800 tonnes at an average grade of 4.17 g/t Au for a total of 40,380 ounces.

  • Discussions with potential mining and financial partners for the Wasamac, Croinor Gold and Beaufor advanced gold projects are ongoing.

  • With the increase in the resources of the Fayolle and Monique properties, Monarch's combined measured and indicated resources now stands at 3.3 million ounces of gold with an inferred resource of 1.1 million ounces (see table of combined gold resources).


"During the quarter, we continued to focus on identifying mining and financial partners for our Wasamac, Croinor Gold and Beaufor gold projects," said Jean-Marc Lacoste, President and CEO of Monarch. "Because they are fairly advanced, those projects are attracting considerable interest in the current gold market environment. In addition, any future production from Croinor Gold and Beaufor could easily be processed at the Camflo and Beacon mills, which is a significant advantage for both those projects. We also continued to develop our Fayolle and McKenzie Break projects, with positive results reported for the Fayolle resource calculation and a new drilling program initiated on McKenzie Break. We expect to report the first drill results from McKenzie Break in the coming weeks."


"In terms of our operations, we have temporarily suspended production activities at the Beaufor mine and the Camflo mill and are continuing to clean the Camflo mill to recover the gold that has been locked up in the circuits and equipment for several years. The clean-up, which started in the first quarter and is expected to finish in the second quarter, will further strengthen our financial position. It will also allow us to upgrade the equipment at the Camflo plant when needed in the future."


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=MQR%3ACA&qmodStoryID=7564247458342484 

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8020 Admin

29 days ago

8020 Admin posted a press release Monarch Gold Appoints Laurie Gaborit as a Director of the Corporation and Announces a Stock Option Grant in MONARQUES GOLD CORPORATION


The appointment is aimed at strengthening the Board's expertise and the Corporation's ties with the national and international financial community

MONTREAL, Oct. 29, 2019 /CNW Telbec/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce the appointment of Laurie Gaborit as a director of the Corporation.



Laurie Gaborit has over 20 years of investor relations and corporate communications experience in the mining industry. She recently held the position of Vice President, Investor Relations, at Detour Gold Corporation. As a key member of Detour Gold's management team, she participated in the company's initial public offering in 2007 and its transformation from exploration company to intermediate gold producer within a seven-year period, during which time Detour Gold's market capitalization increased from $120 million to over $3 billion. Prior to joining Detour Gold, she provided strategic investor relations and corporate communications services to a number of junior mining companies. Previously, she was Vice President, Investor Relations and Corporate Secretary for High River Gold Mines and Manager, Investor Relations for Rio Narcea Gold Mines. Ms. Gaborit started her career as a geologist for Aur Resources, Cambior, and Romarco Minerals. She holds a Bachelor of Science in geology (Hons.) and is a member of the Canadian Investor Relations Institute (CIRI) Board. In 2019, she was the recipient of the CIRI Belle Mulligan Award for Leadership in Investor Relations.



"I would like to welcome Ms. Gaborit to Monarch's board of directors on the board's behalf," said Michel Bouchard, Chairman of Monarch's board of directors. "We are proud and delighted to have someone of her calibre, with strong mining industry experience in investor relations and corporate governance. In addition to her skills, her in-depth knowledge of the financial markets will be of great value to the board as Monarch pursues the development of its gold projects in Quebec."


Monarch also announces that on October 28, 2019, the Board of Directors granted a total of 2,845,000 stock options (individually, an "Option", and collectively, the "Options") to directors, officers, employees and consultants of the Corporation. These Options were granted in accordance with the terms and conditions of the Corporation's current stock option plan.


The Options vest in four equal tranches. Each Option entitles the holder to purchase one common share of the Corporation at a price of $0.25 per common share for a period of five years from October 28, 2019.


The maximum number of Options that may be issued is 26,112,111 representing 10% of the number of shares outstanding. Subsequent to the grant, a total of 11,557,500 Options will be outstanding, representing 4.4% of the number of shares outstanding.


ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.


www.monarquesgold.com


View original content to download multimedia:http://www.prnewswire.com/news-releases/monarch-gold-appoints-laurie-gaborit-as-a-director-of-the-corporation-and-announces-a-stock-option-grant-300946736.html


SOURCE Monarch Gold Corporation


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/29/c4178.html



Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, jm.lacoste@monarquesgold.com ; Mathieu Séguin, Vice President, Corporate Development, 1-888-994-4465, m.seguin@monarquesgold.com ; Elisabeth Tremblay, Senior Geologist - Communications Specialist, 1-888-994-4465, e.tremblay@monarquesgold.com 

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8020 Admin

1 month ago

8020 Admin posted a press release Monarch Gold Files a Technical Report for its Fayolle Gold Project in MONARQUES GOLD CORPORATION







  • The technical report shows a pit-constrained Indicated resource of 405,600 tonnes at an average grade of 5.42 g/t Au for a total of 70,630 ounces of gold, and an underground Indicated resource of 300,800 tonnes at an average grade of 4.17 g/t Au for a total of 40,380 ounces.



  • The resource was calculated at a US$1,300 gold price with an exchange rate of 1.33 US$/CA$ per troy ounce.



  • Monarch has a combined Measured and Indicated resource of 3.3 million ounces of gold and an Inferred resource of 1.1 million ounces (see table at the end of the press release).



MONTREAL, Oct. 22, 2019 /CNW Telbec/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) announces that it has filed on SEDAR a National Instrument 43-101 technical report for its Fayolle gold project. Monarch published a press release on September 10, 2019 (see press release), which summarized the assumptions and key results contained in the technical report. There are no material differences between the assumptions and estimates contained in Monarch's press release dated September 10, 2019, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarch's website (see technical report).



The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation's qualified person under National Instrument 43-101.



ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor mine, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as other promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.



Read more here: https://quotemedia.com/portal/quote/?qm_symbol=MQR%3ACA&qmodStoryID=6025438125733306 

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Monarques Gold Corporation

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Monarques Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada.

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Monarques Gold Corporation

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Monarques Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large......

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8020 Admin

32 minutes ago

8020 Admin posted a press release Monarch Gold Acquires a Property with Exploration Potential Immediately West of its Wasamac Gold Deposit in MONARQUES GOLD CORPORATION



  • The new mining property consists of 24 claims located immediately west of the Wasamac deposit, which hosts a measured and indicated resource of 2.6 million ounces of gold (see table of gold resources).



  • The fault hosting the Wasamac deposit appears to extend onto the property, which has not been the subject of work in the area.



  • Monarch plans to carry out preliminary work to test the gold potential of the new property.



MONTREAL, Nov. 27, 2019 /PRNewswire/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce that it has acquired a mining property from Gwen Resources Ltd ("Gwen"), a private company. The property consists of 24 claims covering approximately 5 km2 and is located immediately west of the Wasamac property. The Wasamac property is wholly owned by Monarch and lies 15 km west of Rouyn-Noranda, in the Abitibi-Témiscamingue region of Quebec.


"The purpose of this transaction was primarily to secure the location of Wasamac's future mining infrastructure, for which we have just started the mining permit application process," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "When we had a closer look at the new property, however, we realized that it might have interesting exploration potential. In fact, the fault that hosts the Wasamac deposit seems to extend onto the property, which has not been the subject of work in this area. In addition, the main envelope of the Wasamac deposit lies about 500 metres from the property boundary, which makes the property even more interesting. We plan to conduct a preliminary exploration program to better assess its gold potential."


As consideration for this acquisition, Monarch issued 1 million common shares of its share capital to Gwen and will pay Gwen a total of $150,000 in cash, consisting of $75,000 on closing of the transaction and $75,000 six months after closing. Gwen will also be entitled to a 2.5% net smelter return (NSR) on the property. Monarch may buy back a 1.25% NSR for $2 million in cash. All common shares issued to Gwen are subject to a four month and one day hold period and, in addition, 500,000 of such shares are escrowed for a period of one year.


The transaction is subject to regulatory approval.


The technical and scientific content of this press release has been reviewed and approved by Louis Martin, P. Geo., the Corporation's qualified person under National Instrument 43-101.


ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns nearly 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.


www.monarquesgold.com


View original content to download multimedia:http://www.prnewswire.com/news-releases/monarch-gold-acquires-a-property-with-exploration-potential-immediately-west-of-its-wasamac-gold-deposit-300966187.html


SOURCE Monarch Gold Corporation

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8020 Admin

7 days ago

8020 Admin posted a press release Monarch Gold Files a Project Notice for Its Wasamac Gold Project with Quebec's Ministry of the Environment and the Fight Against Climate Change in MONARQUES GOLD CORPORATION



  • The Corporation is launching the Environmental Impact Assessment and Review (EIAR) process with the goal of putting its Wasamac gold deposit into production.



  • In December 2018, Monarch completed a positive feasibility study on Wasamac (based on a gold price of US$1,300 per ounce) with the following results:



    • Estimated average annual production of 142,000 ounces of gold over 11 years



    • Pre-tax net present value (NPV) of $522 million



    • Pre-tax internal rate of return (IRR) of 23.6%



    • Cash production cost of US$550 per ounce.





  • The proposed project will be based on the Mining 4.0 concept that combines new technologies and respect for the environment, in particular through the Rail-Veyor® electrically powered, remote-controlled underground haulage system.



  • Wasamac is a large-scale gold project that could potentially create several hundred high-quality jobs in the Abitibi region, Quebec.



  • Wasamac was selected as a pilot project by the Government of Quebec to be supported throughout the permitting process by the interdepartmental table announced by Minister Julien on November 19, 2019. The objective is to set up a mining project support service, harmonize processes between the various ministries to avoid duplication and thus accelerate the processing of authorizations required to start a mining project that respects best environmental practices.



MONTREAL, QC / ACCESSWIRE / November 20, 2019 / MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX:MQR) (OTC PINK:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has filed a project notice today with Quebec's Ministry of the Environment and the Fight Against Climate Change (MELCC) for its wholly-owned Wasamac gold project, located 15 km west of Rouyn-Noranda in the Abitibi-Témiscamingue region of Quebec. The project notice is the first step in the mining permit application process, which generally takes 18 to 24 months.


"Today marks a significant milestone in Monarch's history with the launch of the permitting process for production at the Wasamac property," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "Several factors led us to this decision, including the positive feasibility study conducted in December 2018, the strong gold market and the favourable financing and partnership climate for this type of project. In addition, Wasamac is expected to create more than 400 jobs during the construction stage and some 300 jobs once the mine goes into production. Monarch also intends to make Wasamac a Mining 4.0 project, combining new technologies and respect for the environment. The proposed project will feature new production technologies such as the Rail-Veyor® electrically powered, remote-controlled underground haulage system and will include an almost entirely electric fleet of production and development equipment. Our projections indicate that the use of electricity and automation will allow us to produce at a lower cost and minimize our environmental footprint."


Wasamac: A project in step with local communities


A Quebec-based company with a seasoned management team and a board of directors experienced in the development of large-scale mining projects such as Wasamac, Monarch is proactive when it comes to relations with host communities. "We listen to their requests and concerns and act accordingly," said Mr. Lacoste. "The transparency of the process is a priority for us."


Early in the EIAR process, prior to the filing of the project notice, the Corporation initiated consultations with certain stakeholders, including local residents living near the Wasamac project. These preliminary meetings allowed the main concerns associated with the project to be identified. The stakeholders targeted are listed in the project notice, and other stakeholders will be invited to similar information meetings and consultations as the process unfolds.


"In short, we are very proud to be launching this process to bring a major new Quebec gold mine into production," added Mr. Lacoste. "We are convinced that Wasamac could generate positive benefits for the various groups, communities and stakeholders that will be involved in this promising project managed here, by local people, for local people."


Summary of the project notice and preliminary timeline


Monarch prepared the project notice to present the preliminary background and important descriptive information for the Wasamac gold project. Broadly speaking, the Wasamac project consists of:



  • Operation of an underground mine producing 6,000 tonnes per day on average, with an expected mine life of 11 years;

  • Construction of underground ore haulage infrastructure;

  • Construction of a mineral processing plant;

  • Preparation of waste rock, tailings and overburden storage areas; and

  • Establishment of related infrastructure (power supply, telecommunications, heating, ventilation, water treatment, etc.).


The December 2018 feasibility study by BBA (see feasibility study) indicates that the Wasamac deposit hosts a measured and indicated mineral resource of 29.86 million tonnes at an average grade of 2.70 g/t Au, for a total of 2.6 million ounces of gold, and proven and probable mineral reserves of 21.46 million tonnes at an average grade of 2.56 g/t Au, for a total of 1.8 million ounces of gold, with the deposit remaining open along strike and at depth.


The project notice will be available online on the environmental assessment register within 15 days of receipt of the MELCC guidelines specifying the requirements for the environmental impact assessment. The public will also be able to consult the register to find project-related documents as the evaluation process unfolds.


Based on the project notice filed by the Corporation and the guidelines from the ministry, individuals, groups and municipalities will have a 30-day public consultation period during which they may submit their comments to the Minister on the issues that should be addressed in the impact assessment. The Minister will forward the relevant comments on issues that merit consideration in the project's impact assessment to the Corporation and publish them in the environmental assessment register.


Monarch will issue press releases with updates on the permit application process at each stage in the process.


The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation's qualified person under National Instrument 43-101.


ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns nearly 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.


- 30 -


FOR MORE INFORMATION:


Jean-Marc Lacoste 1-888-994-4465
President and Chief Executive Officer jm.lacoste@monarquesgold.com


Mathieu Séguin 1-888-994-4465
Vice President, Corporate Development m.seguin@monarquesgold.com


Elisabeth Tremblay 1-888-994-4465
Senior Geologist - Communications Specialist e.tremblay@monarquesgold.com


www.monarquesgold.com



SOURCE: Monarch Gold Corp.

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8020 Admin

16 days ago

8020 Admin posted a press release Monarch Gold Reports Its Results for the First Quarter of Fiscal 2020 in MONARQUES GOLD CORPORATION

MONTREAL, QC / ACCESSWIRE / November 11, 2019 / MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX:MQR) (OTC PINK:MRQRF) (FRANKFURT:MR7) reported its results today for the first quarter ended September 30, 2019. Amounts are in Canadian dollars unless otherwise indicated.


Highlights



  • First quarter revenues of $3.1 million from the sale of gold in inventory as at June 30, 2019, combined with the sale of a portion of the ounces recovered from the Camflo mill cleaning.

  • First quarter net earnings of $1.2 million or $0.005 per share, diluted, compared to a net loss of $1.9 million or $0.008 per share, diluted, last year.

  • Cash and cash equivalents of $6.5 million and investments with a fair value of $2.1 million as at September 30, 2019.

  • Production activities temporarily suspended at the Beaufor mine on June 27, 2019, and at the Camflo mill on July 10, 2019.

  • On August 19, 2019, the Corporation completed the acquisition of a 100% interest in the Fayolle property from Hecla Québec Inc. and Typhoon Exploration Inc.

  • On September 3, 2019, the Corporation announced the results of a new mineral resource estimate for its Monique property. The new estimate shows a pit constrained Inferred resource of 307,000 ounces and an underground Inferred resource of 354,400 ounces, for a total of 661,400 ounces of gold. Probe Metals Inc. can earn a 60% interest in the Monique property by spending an aggregate of $2,000,000 on exploration before January 2021.

  • On September 10, 2019, the Corporation announced the results of a new mineral resource estimate for its Fayolle gold project. The new estimate shows a pit-constrained Indicated resource of 405,600 tonnes at an average grade of 5.42 g/t Au for a total of 70,630 ounces of gold, and an underground Indicated resource of 300,800 tonnes at an average grade of 4.17 g/t Au for a total of 40,380 ounces.

  • Discussions with potential mining and financial partners for the Wasamac, Croinor Gold and Beaufor advanced gold projects are ongoing.

  • With the increase in the resources of the Fayolle and Monique properties, Monarch's combined measured and indicated resources now stands at 3.3 million ounces of gold with an inferred resource of 1.1 million ounces (see table of combined gold resources).


"During the quarter, we continued to focus on identifying mining and financial partners for our Wasamac, Croinor Gold and Beaufor gold projects," said Jean-Marc Lacoste, President and CEO of Monarch. "Because they are fairly advanced, those projects are attracting considerable interest in the current gold market environment. In addition, any future production from Croinor Gold and Beaufor could easily be processed at the Camflo and Beacon mills, which is a significant advantage for both those projects. We also continued to develop our Fayolle and McKenzie Break projects, with positive results reported for the Fayolle resource calculation and a new drilling program initiated on McKenzie Break. We expect to report the first drill results from McKenzie Break in the coming weeks."


"In terms of our operations, we have temporarily suspended production activities at the Beaufor mine and the Camflo mill and are continuing to clean the Camflo mill to recover the gold that has been locked up in the circuits and equipment for several years. The clean-up, which started in the first quarter and is expected to finish in the second quarter, will further strengthen our financial position. It will also allow us to upgrade the equipment at the Camflo plant when needed in the future."


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=MQR%3ACA&qmodStoryID=7564247458342484 

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8020 Admin

29 days ago

8020 Admin posted a press release Monarch Gold Appoints Laurie Gaborit as a Director of the Corporation and Announces a Stock Option Grant in MONARQUES GOLD CORPORATION


The appointment is aimed at strengthening the Board's expertise and the Corporation's ties with the national and international financial community

MONTREAL, Oct. 29, 2019 /CNW Telbec/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce the appointment of Laurie Gaborit as a director of the Corporation.



Laurie Gaborit has over 20 years of investor relations and corporate communications experience in the mining industry. She recently held the position of Vice President, Investor Relations, at Detour Gold Corporation. As a key member of Detour Gold's management team, she participated in the company's initial public offering in 2007 and its transformation from exploration company to intermediate gold producer within a seven-year period, during which time Detour Gold's market capitalization increased from $120 million to over $3 billion. Prior to joining Detour Gold, she provided strategic investor relations and corporate communications services to a number of junior mining companies. Previously, she was Vice President, Investor Relations and Corporate Secretary for High River Gold Mines and Manager, Investor Relations for Rio Narcea Gold Mines. Ms. Gaborit started her career as a geologist for Aur Resources, Cambior, and Romarco Minerals. She holds a Bachelor of Science in geology (Hons.) and is a member of the Canadian Investor Relations Institute (CIRI) Board. In 2019, she was the recipient of the CIRI Belle Mulligan Award for Leadership in Investor Relations.



"I would like to welcome Ms. Gaborit to Monarch's board of directors on the board's behalf," said Michel Bouchard, Chairman of Monarch's board of directors. "We are proud and delighted to have someone of her calibre, with strong mining industry experience in investor relations and corporate governance. In addition to her skills, her in-depth knowledge of the financial markets will be of great value to the board as Monarch pursues the development of its gold projects in Quebec."


Monarch also announces that on October 28, 2019, the Board of Directors granted a total of 2,845,000 stock options (individually, an "Option", and collectively, the "Options") to directors, officers, employees and consultants of the Corporation. These Options were granted in accordance with the terms and conditions of the Corporation's current stock option plan.


The Options vest in four equal tranches. Each Option entitles the holder to purchase one common share of the Corporation at a price of $0.25 per common share for a period of five years from October 28, 2019.


The maximum number of Options that may be issued is 26,112,111 representing 10% of the number of shares outstanding. Subsequent to the grant, a total of 11,557,500 Options will be outstanding, representing 4.4% of the number of shares outstanding.


ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.


www.monarquesgold.com


View original content to download multimedia:http://www.prnewswire.com/news-releases/monarch-gold-appoints-laurie-gaborit-as-a-director-of-the-corporation-and-announces-a-stock-option-grant-300946736.html


SOURCE Monarch Gold Corporation


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/29/c4178.html



Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, jm.lacoste@monarquesgold.com ; Mathieu Séguin, Vice President, Corporate Development, 1-888-994-4465, m.seguin@monarquesgold.com ; Elisabeth Tremblay, Senior Geologist - Communications Specialist, 1-888-994-4465, e.tremblay@monarquesgold.com 

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8020 Admin

1 month ago

8020 Admin posted a press release Monarch Gold Files a Technical Report for its Fayolle Gold Project in MONARQUES GOLD CORPORATION







  • The technical report shows a pit-constrained Indicated resource of 405,600 tonnes at an average grade of 5.42 g/t Au for a total of 70,630 ounces of gold, and an underground Indicated resource of 300,800 tonnes at an average grade of 4.17 g/t Au for a total of 40,380 ounces.



  • The resource was calculated at a US$1,300 gold price with an exchange rate of 1.33 US$/CA$ per troy ounce.



  • Monarch has a combined Measured and Indicated resource of 3.3 million ounces of gold and an Inferred resource of 1.1 million ounces (see table at the end of the press release).



MONTREAL, Oct. 22, 2019 /CNW Telbec/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) announces that it has filed on SEDAR a National Instrument 43-101 technical report for its Fayolle gold project. Monarch published a press release on September 10, 2019 (see press release), which summarized the assumptions and key results contained in the technical report. There are no material differences between the assumptions and estimates contained in Monarch's press release dated September 10, 2019, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarch's website (see technical report).



The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation's qualified person under National Instrument 43-101.



ABOUT MONARCH GOLD CORPORATION


Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor mine, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as other promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.


Forward-Looking Statements


The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.



Read more here: https://quotemedia.com/portal/quote/?qm_symbol=MQR%3ACA&qmodStoryID=6025438125733306 

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