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#Gold demand to be positive in second half of 2018, says WGC report $AMK.ca $EXS.ca $MQR.ca $HPQ.ca $GZD.ca $GGX.ca $GR.ca

Posted by AGORACOM-JC at 2:56 PM on Wednesday, July 25th, 2018

  • Gold demand is likely to be healthy in the second half of 2018 on positive global economic growth, trade wars and its impact on currency and rising inflation, the World Gold Council (WGC) said in a report.
  • Gold price rose by more than 4 per cent in the first few months of the year, only to finish in June down by the same amount and this downward trend continued during July as gold dropped almost an additional percentage point, WGC said in its mid-year outlook 2018 today.

While gold’s volatility spiked in February and April, it has been moving in a relatively low range since, it added.

WGC said the gold’s performance has been mainly driven by factors including a strengthening US dollar, higher investor threshold for headline risk and soft gold demand.

“At the same time, gold’s price momentum and investor positioning in derivatives markets has accelerated its descent. We, however, believe that there may be reasons to be more optimistic during the second half of the year,” it said.

According to the council, macroeconomic trends like positive but uneven global economic growth, trade wars and their impact on currency and rising inflation and an inverted yield curve will support gold in the second half of 2018.

In India, the second half of the year is usually positive for gold as the harvest and wedding seasons during the autumn provide seasonal support for the market.

The economic policies rolled out by the government to draw the informal, cash-based economy into the formal sector, according to the report, are starting to translate into stronger economic growth.

Source: https://www.business-standard.com/article/economy-policy/gold-demand-to-be-positive-in-second-half-of-2018-says-wgc-report-118071901188_1.html

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Monarques Gold $MQR.ca Files a Technical Report for its McKenzie Break #Gold Project M&I resources now stand at over 3.1 million ounces of gold $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 7:57 AM on Thursday, July 19th, 2018

Monarquesgold hub large

  • Monarques Gold combined Measured and Indicated resources now stand at over 3.1 million ounces of gold

MONTREAL, July 19, 2018 - MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has filed on SEDAR a National Instrument 43-101 technical report for its McKenzie Break gold project. Monarques published a press release on June 14, 2018 (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 Monarques’ press release dated June 14, 2018, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarques’ 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 MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

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

Table 1 – Monarques Gold Measured and Indicated Resources

Tonnes
(metric)		 Grade
(g/t Au)		 Ounces
Wasamac property1
Measured Resources 3.99 million 2.52 323,300
Indicated Resources 25.87 million 2.72 2,264,500
Total Measured & Indicated Resources 29.86 million 2.70 2,587,900
Beaufor Mine2
Measured Resources 74,400 6.71 16,100
Indicated Resources 271,700 7.93 69,300
Total Measured & Indicated Resources 346,200 7.67 85,400
Croinor Gold Mine3
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total Measured & Indicated Resources 804,600 9.12 236,000
Swanson property4
Indicated Resources 1,643,000 1.86 98,051
McKenzie Break property5
Pit Constrained
Indicated Resources 939,860 1.59 48,133
Underground
Indicated Resources 281,739 5.90 53,448
Simkar Gold property6
Measured Resources 33,570 4.71 5,079
Indicated Resources 208,470 5.66 37,905
Total Measured & Indicated Resources 242,040 5.52 42,984
TOTAL
Measured & Indicated Resources 3,151,916
1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe Postle Associates Inc.
2 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.
3  Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)

4 Source: NI 43‐101 Technical Report on the Swanson Project, June 15, 2018, Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc.

5 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc., and Christian D’Amours, P.Geo., of GeoPointCom Inc.

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Monarques Gold $MQR.ca Intersects 20.62 g/t #Gold Over 3.95 Metres at the Beaufor Mine, Including 111 g/t Au Over 0.70 Metres $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 9:19 AM on Tuesday, July 17th, 2018

Monarquesgold hub large

  • Reported first set of results from 30,000-metre 2018 drilling program at the Beaufor Mine
  • All four intersected QF1 structure, including Hole 18-124-92, which intersected 20.62 g/t Au over 3.95 metres, including 111.00 g/t Au over 0.70 metres

Exploration drilling continues to indicate strong gold potential at the Beaufor Mine

MONTREAL, July 17, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report the first set of results from its 30,000-metre 2018 drilling program at the Beaufor Mine. The current results are from nine exploration holes totalling 2,047 metres of drilling on the QF1 and 1700 projects (see composite schematic section).

QF1 project
The QF1 veins lie some 70 metres from the lower contact of Zone Q, the main zone currently in production at the Beaufor Mine. The current program aims to test the continuity of this structure over an extension of about 500 metres in the West, Central and East sectors, outside the known resource.

Four holes totalling 711 metres were drilled in the West sector. All four intersected the QF1 structure, including Hole 18-124-92, which intersected 20.62 g/t Au over 3.95 metres, including 111.00 g/t Au over 0.70 metres. This zone consists of two quartz-tourmaline veins 176 cm and 24 cm thick, containing 1% and 15% pyrite, respectively, within a chloritized, silicified, albitized granodiorite.

“The results of this first round of drilling in 2018 shows strong gold potential in the Zone Q footwall,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “This strengthens our sense that the mineral resource can be increased in this area. The next round of drilling, which is now underway, will test the three sectors of the QF1 structure, namely the West, Central and East.”

1700 project
Five holes were drilled in the 1700 project area for a total of 1,336 metres. All the holes intersected veins/veinlets and mineralization north of a major shear striking approximately 80°N.

The best results were obtained in holes 18-173-13 and 18-173-15, which returned grades of 12.05 g/t Au over 0.50 metres and 5.10 g/t Au over 3.05 metres. The mineralized intersections consist of quartz-tourmaline veinlets containing trace to 5% pyrite.

These holes confirm the vertical and lateral extension of a mineralized lens containing several veins and veinlets near the north contact of a shear, a structure that appears to be similar to the West Shear, known to be the main conductor for the gold at the Beaufor Mine. The western extension of the shear and the mineralized lenses is still not well understood.

Quality control and qualified person
Sampling normally consists of sawing the core into two equal halves along its main axis and shipping one of the halves to Val-d’Or for assaying at the ALS Geochemistry laboratory, which is fully accredited under ISO 17025. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 10.0 g/t are re-assayed using the gravity method. Certified standards and blanks are inserted into the sampling stream for quality control purposes.

The technical and scientific content of this press release has been reviewed and approved by Élise Bourgault, P.Geo., the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

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

Table 1:  Summary of Beaufor Mine exploration drill results

Project Hole From
(m)		 To

(m)

 Core length

(m)

 Grade
(g/t Au)		 Zone/Vein
QF1

(West sector)

 18-124-92 112.20 116.15 3.95 20.62 QF1
Including 112.20 112.90 0.70 111.00
18-124-93 25.35 25.85 0.50 33.35 –
86.50 88.10 1.60 1.40 QF1
18-124-94 10.20 10.70 0.50 5.91 –
69.05 69.85 0.80 3.54 QF1
18-124-95 13.15 14.00 0.85 3.13 –
56.80 58.25 1.45 5.39 QF1
Including 56.80 57.55 0.75 8.95
1700 18-173-11 – – – – 1700
18-173-13 61.20 62.30 1.10 1.10 –
150.70 151.20 0.50 2.52 1700
154.60 155.10 0.50 12.05 1700
18-173-14 – – – – 1700
18-173-15 33.20 33.70 0.50 2.78 –
169.85 172.90 3.05 5.10 1700
177.20 183.70 6.50 2.10 1700
Including 182.65 183.70 1.05 6.80
18-173-16 25.65 26.15 0.50 1.42 –
229.70 230.20 0.50 3.00 1700
235.85 236.45 0.60 2.10 1700
QF1 : True width corresponds to 65-90% of core length.
1700: True width corresponds to 40-70% of core length.

 

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Monarques Gold $MQR.ca Intersects 18.40 g/t Au Over 1.6 Metres and 16.05 g/t Au Over 3.1 Metres on its Croinor #Gold Project $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 8:59 AM on Tuesday, July 10th, 2018

  • Hole CR-18-586, drilled 50 metres west of Hole CR-17-547, returned a 9.4-metre intersection grading 3.08 g/t Au, including 6.61 g/t Au over 3.1 metres,
    • from a vertical depth of 560 metres, 265 metres below the current resource envelope, indicating that the deposit remains open at depth, with wide, continuous mineralization

Drilling extends deposit by some 180 metres horizontally to the northwest and down to 560 metres, 265 metres below the current resource envelope

MONTREAL, July 10, 2018 – MONARQUES GOLD CORPORATION (“Monarques”, “Monarques Gold” or the “Corporation”) (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report new assay results from the 2018 diamond drill program at its wholly owned Croinor Gold project 50 kilometres east of Val-d’Or, Québec. The 20,000-metre diamond drilling program started in March 2018 and is focused on the expansion of the Croinor Gold deposit. The Phase 1 results are from a total of 4,584 metres of drilling in 16 holes (see plan view). Drilling is ongoing.

The Croinor Gold deposit is hosted in a sheared diorite sill three kilometres long by 60–120 metres wide, striking 295 degrees north and dipping 50–65 degrees to the north. The mineralization is associated with pyrite found within and adjacent to quartz-tourmaline veins. The goal of Phase 1 was to extend the western part of the deposit and confirm the continuity of mineralization intersected in Hole CR-17-547 (see press release dated August 31, 2017).

“The drill results on Croinor Gold continue to surpass our expectations, particularly in terms of the deposit’s potential at depth,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Hole CR-18-586, drilled 50 metres west of Hole CR-17-547, returned a 9.4-metre intersection grading 3.08 g/t Au, including 6.61 g/t Au over 3.1 metres, from a vertical depth of 560 metres, 265 metres below the current resource envelope, indicating that the deposit remains open at depth, with wide, continuous mineralization. The other good news is that the deposit appears to extend some 180 metres to the northwest (see longitudinal map). All the holes intersected mineralization, including 18.40 g/t Au over 1.6 metres in Hole CR-18-585 and 16.05 g/t Au over 3.1 metres in Hole CR-18-597. We are excited by this outcome of Phase 1, and eager to see the Phase 2 results.”

Winter 2018: Phase 1 drill results from the Croinor Gold project

Hole Number Hole Length From To Width * Grade Au
(m) (m) (m) (m) (g/t)
CR-18-582 295 185.2 186.2 1.0 5.59
CR-18-583 400 312.3 316.8 4.5 3.88
327.0 328.0 1.0 5.14
CR-18-584 388 350.0 352.0 2.0 4.27
CR-18-585 307 267.8 269.8 2.0 3.96
291.0 292.6 1.6 18.40
CR-18-586 ** 712 161.5 165.7 4.2 2.53
169.8 173.2 3.2 6.54
204.4 205.4 1.0 7.24
258.0 259.7 1.7 4.45
330.3 331.3 1.0 3.25
498.0 500.0 2.0 6.91
629.6 639.0 9.4 3.08
Including 631.0 634.1 3.1 6.61
CR-18-587 277 142.6 143.6 1.0 7.69
CR-18-588 241 196.0 197.7 1.7 4.00
207.2 208.4 1.2 9.27
CR-18-589 235 224.2 225.5 1.3 1.17
CR-18-590 316 240.8 242.6 1.8 4.44
CR-18-591 268 222.0 223.9 1.9 3.15
229.0 230.0 1.0 22.90
CR-18-592 208 Waiting for assays
CR-18-593 192 152.8 155.0 2.2 3.31
181.7 182.8 1.1 7.89
CR-18-594 160 91.7 92.7 1.0 5.85
137.0 138.0 1.0 5.46
CR-18-595 163 124.9 126.0 1.1 7.75
151.8 152.8 1.0 9.73
CR-18-596 91 Waiting for assays
CR-18-597 331 269.5 272.6 3.1 16.05
* The width shown is the core length. True width is estimated to be 90-95% of the core length.
** Hole CR-18-586 was drilled down dip, parallel to the diorite, to test for the presence of multiple directions of quartz veining. The width shown is the core length. True width is estimated to be 30-35% of the core length.

 

Sampling normally consists of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory in Val-d’Or for assaying. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 3.0 g/t are re-assayed using the gravity method, and samples containing gold grains are assayed using the metallic sieve method. Monarques uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates.

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

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

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

View original content with multimedia:http://www.prnewswire.com/news-releases/monarques-gold-intersects-18-40-gt-au-over-1-6-metres-and-16-05-gt-au-over-3-1-metres-on-its-croinor-gold-project-300678391.html

SOURCE Monarques Gold Corporation

View original content with multimedia: http://www.newswire.ca/en/releases/archive/July2018/10/c1228.html

Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist – Communications Specialist, 1-888-994-4465, [email protected], www.monarquesgold.comCopyright CNW Group 2018

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FEATURE: Monarques Gold $MQR.ca Estimates Pit-Constrained Resource on its Swanson #Gold Project $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 11:21 AM on Wednesday, July 4th, 2018

MQR: TSX-V

  • Pit-constrained Indicated resource of 90,319 ounces and Inferred resource of 941 ounces, and an underground Indicated resource of 7,732 ounces and Inferred resource of 5,975 ounces
  • Advantageous location of the Swanson deposit, some 100 metres from a railway track, provides easy access to the Beacon mill
  • Company holds a mining lease on the Swanson property, enabling it to put the deposit into production more rapidly
  • Continues to increase its combined Measured and Indicated resources to more than 3.1 million ounces of gold
Indicated Resource Inferred Resource
Zone Tonnage Grade
(g/t Au)		 Ounces Tonnage Grade
(g/t Au)		 Ounces
Pit-constrained 1,568,000 1.79 90,319 12,000 2.44 941
Underground 75,000 3.21 7,732 60,000 3.10 5,975
Total 1,643,000 1.86 98,051 72,000 2.99 6,917

FULL DISCLOSURE: Monarques Gold Corp. is an advertising client of AGORA Internet Relations Corp.

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The 3 Biggest Trends That Will Drive #Gold In The Next 30 Years $AMK.ca $EXS.ca $MQR.ca $GR.ca $GGX.ca $HPQ.ca $GZD.ca

Posted by AGORACOM-JC at 11:45 AM on Thursday, June 21st, 2018

Olivier Garret , Contributor Opinions expressed by Forbes Contributors are their own.

  • The World Gold Council recently released an insightful report titled, Gold 2048: The Next 30 Years for Gold.
  • Report looks at overarching demographic, technological, economic, political, and social trends around the world and their implications for the gold market.

The World Gold Council recently released an insightful report titled, Gold 2048: The Next 30 Years for Gold. This report looks at overarching demographic, technological, economic, political, and social trends around the world and their implications for the gold market.

The report has brought together top gold industry experts as well as world-renowned authors and economists who discuss the underlying macro forces that will drive gold in the next 30 years.

This is an eye-opening yet lengthy read that I highly recommend to all investors (find it here). To give you a glimpse of what’s inside the report, this short overview presents the highlights and takeaways from an investment perspective.

Trend #1: The Rise of the Middle Class in Emerging Markets

According to the report, in the next 30 years, demographics will play an increasingly important role in shaping the global economy.

The big story of the next quarter-century will be the rising middle class in emerging markets, particularly in China and India. Recent reports estimated that, over the next 17 years, 170 million Asians will enter the middle class every year.

India, the largest consumer of gold, is set to become the fastest-growing economy in the coming decades. If it manages to pull off its ambitious political and economic reforms, its middle class might soar from 19% to 73% of total population.

“Not only will the Indian middle class become a driving force within the Indian economy, but its aggregate purchasing power will result in the creation of one of the largest markets in the world,” says the report.

China’s middle class, too, is rapidly expanding. But unlike India, the Chinese are facing major demographic headwinds. Key among them is an aging population, which might curb economic growth despite the gains from the expanding middle class.

Takeaway for gold investors:

India and China are the biggest consumers of gold worldwide. As their middle class and aggregate purchasing power grow, gold demand is expected to soar.

Trend #2: A Shift in Gold Demand and Supply Dynamics

Jewelry and investment-grade bullion are not the only drivers of gold demand. Gold has wide industrial applications as well. Practically every piece of electronics has a little gold used as highly conductive and corrosion-resistant material. Unknown to many, gold is even effectively used in medicine.

Here’s a quick rundown of technological trends from the report that will spur industrial gold demand:

  • The adoption of the Internet of Things (IOT) will lead to an explosion of electronics (and gold) used in all consumer durable goods.
  • A shift to hybrid and electric vehicles demand far more high-end electronic components that use gold.
  • Gold compounds show promise in clinical testing and even drugs as a new class of antibiotic.
  • A booming solar panel industry will demand more gold as a core catalyst component.

There are many more gold applications, but industrial applications make up only a small part of aggregate gold demand. Investment demand has a much more profound impact on the gold price.

The experts who contributed to the report predict that the growing popularity of gold-backed ETFs as well as advancements in fintech will be some of the biggest drivers of gold demand in the coming years. The convenience and cost-effectiveness that technology brings will make gold attractive to more investors, including Millennials.

Meanwhile, gold supply is under major constraints due to rising operating costs, scant gold discoveries, and low gold prices.

The report sums up the current situation in gold supply:

We expect new mine supply to decline over the next 30 years, hit by rising costs. Metals Focus estimates that, even today, new gold mines need a price of about US$1,500/oz, and with costs having increased at a compound annual rate of 10% over the past 15 years, additional ESG costs are likely to mean that even higher gold prices will be required in the future.

Takeaway for gold investors:

Due to operating constraints, gold miners will struggle to keep up with the growing gold demand. This, in turn, will put upward pressure on gold prices in the long run.

Trend #3: A Volatile Future

The investment landscape itself will radically change in the next 30 years. A combination of demographic, technological, and macroeconomic trends is creating structural changes in the global economy that will have profound implications for investors.

  • Working-age populations are shrinking in the developed world. Labor scarcity will put a strain on economic growth and equity returns. A rise in wages due to constrained labor supply is likely to mark the end of the low inflation era.
  • The rise of automation and AI—displacing increasingly more workers—will elevate political and social tensions and bring more volatility to the markets. We might also expect Western politics to become more redistributive, which will put a greater financial burden on investors via rising taxes.
  • The impact of demographics will have a profound effect on the dynamics of global powers. The Western world will be increasingly burdened by aging populations, scarce labor, and stagnant economic growth. Conversely, India and China are set to reach their golden demographic spot in the coming decades. Since demographics have a direct effect on economic growth, we are likely to witness an unprecedented shift of economic power from West to East. As a result, geopolitical tensions will rise.
  • The widespread adoption of big data and artificial intelligence in investing will increase automated trading in liquid markets. Automation and fast data dissemination will make investment preferences more correlated, so true diversification will be hard to achieve.

Takeaway for gold investors:

The next 30 years are going to be highly unstable, both politically and financially. As history shows, gold performs best in volatile times—and is the best, time-tested hedge against any crisis.

Source: https://www.forbes.com/sites/oliviergarret/2018/06/20/the-3-biggest-trends-that-will-drive-gold-in-the-next-30-years/#26437bbc29bb

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Monarques Gold $MQR.ca Estimates Pit-Constrained Resource on its Swanson Gold Project $MUX.ca $SII.ca

Posted by AGORACOM-JC at 8:56 AM on Wednesday, June 20th, 2018

Emerging gold producer in Abitibi (CNW Group/Monarques Gold Corporation)

  • The Swanson maiden mineral resource estimate for a combined pit-constrained and underground scenario is as follows:
    • A pit-constrained Indicated resource of 90,319 ounces and Inferred resource of 941 ounces, and an underground Indicated resource of 7,732 ounces and Inferred resource of 5,975 ounces.
  • The advantageous location of the Swanson deposit, some 100 metres from a railway track, provides easy access to the Beacon mill.
  • The Corporation holds a mining lease on the Swanson property, enabling it to put the deposit into production more rapidly.
  • Monarques Gold continues to increase its combined Measured and Indicated resources to more than 3.1 million ounces of gold (see table 3 at the end of press release).

MONTREAL, June 20, 2018 /CNW/ – MONARQUES GOLD CORPORATION (“Monarques”, “Monarques Gold” or the “Corporation”) (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report the results of a mineral resource estimate for its Swanson gold project, 65 kilometres north from its wholly-owned Beacon mill and 12 kilometres northeast of Barraute, Quebec. The CN railway line crosses the property, some 100 metres north of the Swanson deposit. Monarques acquired a 100% interest in the Swanson and McKenzie Break properties from Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (see press release dated December 21, 2017). The resource estimate was prepared by Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc., of InnovExplo Inc., both qualified and independent persons as defined by NI 43-101. The effective date of the estimate is June 15, 2018.

“The great advantage of the Swanson project is that the railway track is directly on the property, which allows easy access to both our mills,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Much like for the McKenzie Break project, we are very pleased to have a pit-constrained resource for the Swanson project (see figure), as this could also mean additional feed for the Beacon mill.  In addition, Monarques holds a mining lease on the Swanson property, which could allow us to put the deposit into production more quickly. Our new strategy of targeting pit-constrained resources from our McKenzie Break and Swanson properties, together with the reopening of our Beacon Mill at the end of the year, could be a winning solution for all three projects.”

The 2018 maiden mineral resource estimate was prepared using Leapfrog GEO and GEOVIA GEMS software. Leapfrog was used for 3D modelling of the four mineralized zones while GEMS was used for grade estimation and block modelling. Statistical studies were done using Snowden Supervisor and Microsoft Excel software. The estimate was performed using 3D block modelling with the Ordinary Kriging interpolation method.

The diamond drilling database contains the results of 146 surface and 63 underground drill holes provided by Monarques. Basic univariate statistics were performed on datasets of individual raw gold assays for each zone and for the dilution envelope. The capping (30 g/t Au) was applied on raw assays before compositing at 1.5 m.

The estimate is reported for a potential scenario combining pit-constrained and underground resources at a cut-off grade of 0.8 g/t Au (pit constrained) and 2.7 g/t Au (underground). The cut-off grades were calculated using a gold price of USD1,296/oz, a CAD:USD exchange rate of 1.28 and the following parameters: (a) pit-constrained scenario: mining cost CAD4.94/t, processing cost CAD27.00/t, General and administrative CAD4.00/t, pit slope of 50 degrees used during Whittle optimization; (b) underground scenario: mining cost CAD90.00/t, processing cost CAD27.00/t, General and administrative CAD10.00/t.

The Swanson project mineral resource estimate for a potential scenario combining pit-constrained and underground resources at cut-off grades of 0.8 g/t Au (pit-constrained) and 2.7 g/t Au (underground) is summarized in the following table 1, whereas table 2 shows the sensitivity analysis of the Swanson maiden mineral resource estimate for the pit-constrained scenario.

Table 1 – Swanson Maiden Mineral Resource Estimate for a combined pit-constrained and underground scenario at a cut-off grade of 0.8 g/t Au (in pit) and 2.7 g/t Au (underground)

Indicated Resource

Inferred Resource

Zone

Tonnage

Grade
(g/t Au)

Ounces

Tonnage

Grade
(g/t Au)

Ounces

Pit-constrained  

1,568,000

1.79

90,319

12,000

2.44

941

Underground  

75,000

3.21

7,732

60,000

3.10

5,975

Total

1,643,000

1.86

98,051

72,000

2.99

6,917

 

Notes to the mineral resource table:

•

These mineral resources are not mineral reserves, as they do not have demonstrated economic viability.

•

The 2014 CIM definitions and guidelines for mineral resources have been followed.

•

Results are presented in situ and undiluted and considered to have reasonable prospects for economic extraction.

•

The estimation encompasses four zones with a minimum true thickness of 2.5 m using the grade of the adjacent material when assayed, or a value of zero when not assayed.

•

A high-grade capping of 30 g/t Au (4 g/t Au for the dilution envelope) was applied to assay grades prior to compositing grade for interpolation using an Ordinary Kriging interpolation method, based on 1.5 m composite for block size of 3 m x 3 m x 3 m.

•

Bulk density values were applied on the following lithological basis (g/cm3): I2 = 2.78; I4O, V3, V4 = 2.90, and OVB = 1.5.

•

The number of metric tons was rounded to the nearest thousand and the metal contents are presented in troy ounces (tonne x grade / 31.10348).

•

InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue not reported in this Technical Report that could materially affect the mineral resource estimate.

 

Table 2 – Sensitivity analysis of the Swanson Maiden Mineral Resource Estimate for the pit-constrained scenario

Indicated Resource

Inferred Resource

Cut off

Au (g/t)

Tonnes

Ounces

Cut off

Au (g/t)

Tonnes

Ounces

0.6

1.65

1,798,000

95,499

0.6

2.22

14,000

997

0.7

1.72

1,685,000

93,157

0.7

2.28

13,000

952

0.8

1.79

1,568,000

90,319

0.8

2.44

12,000

941

0.9

1.87

1,453,000

87,173

0.9

2.56

11,000

907

1

1.94

1,338,000

83,651

1

2.66

10,000

856

 

The NI 43-101 technical report will be delivered and filed on SEDAR within the next 45 days.

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person and by Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc., all of whom are qualified persons as defined by NI 43-101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

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

Table 3 – Monarques Gold Measured and Indicated Resources

Tonnes
(metric)

Grade
(g/t Au)

Ounces

Wasamac property1

Measured Resources

3.99 million

2.52

323,300

Indicated Resources

25.87 million

2.72

2,264,500

Total Measured & Indicated Resources

29.86 million

2.70

2,587,900

Beaufor Mine2

Measured Resources

74,400

6.71

16,100

Indicated Resources

271,700

7.93

69,300

Total Measured & Indicated Resources

346,200

7.67

85,400

Croinor Gold Mine3

Measured Resources

80,100

8.44

21,700

Indicated Resources

724,500

9.20

214,300

Total Measured & Indicated Resources

804,600

9.12

236,000

Swanson property4

Indicated Resources

1,643,000

1.86

98,051

McKenzie Break property5

Pit Constrained

Indicated Resources

939,860

1.59

48,133

Underground

Indicated Resources

281,739

5.90

53,448

Simkar Gold property6

Measured Resources

33,570

4.71

5,079

Indicated Resources

208,470

5.66

37,905

Total Measured & Indicated Resources

242,040

5.52

42,984

TOTAL

Measured & Indicated Resources

3,151,916

1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc.,

P.Geo., October 25, 2017, Roscoe Postle Associates Inc.

2 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine

as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.

3  Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)

4 Source: NI 43‐101 Technical Report on the Swanson Project, June 15, 2018, Christine Beausoleil, P.Geo. and

Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc.

5 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard,

P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc., and Christian D’Amours, P.Geo., of
GeoPointCom Inc.

6 Source: MRB et Associés (January 2015)

 

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Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist – Communications Specialist, 1-888-994-4465, [email protected], www.monarquesgold.comCopyright CNW Group 2018

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Monarques Gold $MQR.ca Confirms Pit Constrained Resource on its Mckenzie Break #Gold Project $MUX.ca $SII.ca

Posted by AGORACOM-JC at 9:48 AM on Thursday, June 14th, 2018

  • The mineral resource estimate for McKenzie Break was prepared for two scenarios:
    • Scenario 1: A pit constrained Indicated resource of 48,133 ounces and Inferred resource of 14,897 ounces, and an underground Indicated resource of 53,448 ounces and Inferred resource of 49,130 ounces, for a total of 165,608 ounces of gold.
    • Scenario 2: An underground Indicated resource of 85,059 ounces and Inferred resource of 58,373 ounces, for a total of 143,432 ounces of gold.
  • Monarques Gold now has a combined measured and indicated resource of more than 3 million ounces of gold (see table at the end of press release).

MONTREAL, June 14, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report the results of a mineral resource estimate for its McKenzie Break gold project 35 km north of Val-d’Or, Québec. Monarques can acquire a 100% interest in the property from Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) over a four-year period (see press release dated December 21, 2017). The report was prepared by Alain-Jean Beauregard (P.Geo.) and Daniel Gaudreault (Eng.) of Geologica Groupe-Conseil Inc., and Christian D’Amours (P.Geo.) of GeoPointCom Inc., qualified persons as defined by NI 43-101. The estimate was prepared by GeoPointCom Inc. and is dated April 17, 2018.

Following a careful and detailed review of the old holes logs, and thanks to the 3D compilation of the drilling data, it was possible to identify about 11 new mineralized structures. These mineralized zones are located near, above and below the 12 Green and Orange zones and associated known sub-zones. With approximately 23 associated gold structures, it is now possible to consider the possibility of a pit-constrained operation as presented in Scenario 1.

“The results of this resource estimate are better than we anticipated, mainly due to the pit constrained potential,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “The pit constrained resource is easily accessible as the average overburden thickness is only 5 metres wide, meaning that we could put the McKenzie Break project into production relatively quickly. With our Beacon Mill less than 20 km away scheduled to restart in the last quarter of 2018, we could potentially use this resource as additional feed for the mill. We think this could be a cost-effective strategy for this project, and we will now work on increasing the potential of the pit constrained resource.”

The McKenzie Break property is located in an area with existing infrastructure and several mills. It has surface and underground infrastructure, including a ramp down to a depth of 80 metres below surface. The main Green and Orange zones were drilled on a tight grid to define the resource. The mineralization consists of multiple, narrow and at times anastomosing high-grade veins. Assay results can be erratic due to the nugget effect of the gold.

The database contains conventional analytical gold assay results for 258 surface diamond drill holes, as well as coded lithology from the drill core logs (except for the Series WD04 and WD05 holes). This represents 39,611 m of core for a total of 14,758 m assayed core. The database does not include results for QA/QC samples. At least one of the mineralized zones or the potential pit mineralized material covered by the estimate was intersected in 244 of the holes. This represents 3,411 intersections (including 1,817 in the mineralized zone) for 56,141 composites (including 5,488 in the mineralized zone).

The report covers two scenarios. The first scenario has two elements: a proposed pit constrained operation for the near-surface mineralized material and an underground operation for the remaining zones deep underground. The second scenario contemplates an underground operation only.

Scenario 1: Pit Constrained and Underground Resource
Zone Category Cut off Au (g/t) Tonnes Ounces Category Cut off Au (g/t) Tonnes Ounces
Pit Constrained Indicated 0 0.69 2,536,066 56,193 Inferred 0 0.16 4,241,555 21,922
Pit Constrained   Indicated 0.52 1.59 939,860 48,133 Inferred 0.52 1.52 304,677 14,897
Pit Constrained Indicated 0.6 1.70 854,780 46,610 Inferred 0.6 1.59 284,595 14,535
Pit Constrained Indicated 0.7 1.83 756,710 44,558 Inferred 0.7 1.66 264,512 14,123
Pit Constrained Indicated 0.8 1.97 672,586 42,530 Inferred 0.8 1.75 242,006 13,584
Pit Constrained Indicated 0.9 2.10 602,890 40,623 Inferred 0.9 1.82 222,616 13,054
Pit Constrained Indicated 1 2.25 530,026 38,402 Inferred 1 1.88 209,458 12,648
Zone Category Cut off Au (g/t) Tonnes Ounces Category Cut off Au (g/t) Tonnes Ounces
Underground Indicated 0 0.81 9,102,243 237,466 Inferred 0 0.72 8,837,871 203,293
Underground Indicated 2.5 4.50 524,116 75,892 Inferred 2.5 4.39 501,419 70,718
Underground   Indicated 3.5 5.90 281,739 53,448 Inferred 3.5 5.66 270,103 49,130
Underground Indicated 4.5 6.95 183,683 41,040 Inferred 4.5 6.29 197,824 39,991
Underground Indicated 5.5 8.46 103,072 28,025 Inferred 5.5 6.95 125,917 28,144
Underground Indicated 6.5 9.19 79,934 23,624 Inferred 6.5 8.02 61,829 15,933

 

Scenario 2: Underground Resource (excluding Constrained Pit Resources)
Zone Category Cut off Au (g/t) Tonnes Ounces Category Cut off Au (g/t) Tonnes Ounces
Underground Indicated 0 0.92 9,793,562 291,102 Inferred 0 0.75 9,055,338 217,194
Underground Indicated 2.5 4.87 721,866 112,987 Inferred 2.5 4.50 560,260 80,975
Underground   Indicated 3.5 6.27 422,166 85,059 Inferred 3.5 5.70 318,459 58,373
Underground Indicated 4.5 7.34 289,319 68,283 Inferred 4.5 6.42 225,735 46,574
Underground Indicated 5.5 8.63 185,861 51,590 Inferred 5.5 7.17 143,558 33,099
Underground Indicated 6.5 9.40 144,849 43,779 Inferred 6.5 8.31 74,930 20,023

 

Notes:

  1. CIM definitions for mineral resources were used.
  2. Mineral resources were estimated at a cut-off grade of 0.52 g/t Au for the pit constrained resource and at a cut-off grade of 3.50 g/t Au for the underground resource.
  3. Mineral resources were estimated using a 3-year average gold price of US $1,234.82 per ounce on the London market and an exchange rate of US $0.78 = C $1.00.
  4. A minimum mining width of 2 metres was used.
  5. A bulk density of 2.77 g/cm³ was used.
  6. Numbers may not add due to rounding.

The NI 43-101 technical report will be delivered and filed on SEDAR within the next 45 days.

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, by Alain-Jean Beauregard, P. Geo., of Geologica Groupe-Conseil Inc. and Christian D’Amours, P. Geo., of GeoPointCom Inc., all of whom are qualified persons as defined by NI 43-101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

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

Monarques Gold Measured and Indicated Resources

Tonnes
(metric)		 Grade
(g/t Au)		 Ounces
Wasamac property1
Measured Resources 3.99 million 2.52 323,300
Indicated Resources 25.87 million 2.72 2,264,500
Total Measured & Indicated Resources 29.86 million 2.70 2,587,900
Beaufor Mine2
Measured Resources 74,400 6.71 16,100
Indicated Resources 271,700 7.93 69,300
Total Measured & Indicated Resources 346,200 7.67 85,400
Croinor Gold Mine3
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total Measured & Indicated Resources 804,600 9.12 236,000
McKenzie Break property4
Pit Constrained
Indicated Resources 939,860 1.59 48,133
Underground
Indicated Resources 281,739 5.90 53,448
Simkar Gold property5
Measured Resources 33,570 4.71 5,079
Indicated Resources 208,470 5.66 37,905
Total Measured & Indicated Resources 242,040 5.52 42,984
TOTAL
Measured & Indicated Resources 3,053,865
1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc.,
P.Geo., October 25, 2017, Roscoe Postle Associates Inc.
2 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine
as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.
3  Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)

4 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo.,
and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc., and Christian D’Amours, P.Geo., of GeoPointCom Inc.

5 Source: MRB et Associés (January 2015)

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Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist – Communications Specialist, 1-888-994-4465, [email protected], www.monarquesgold.comCopyright CNW Group 2018

 

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Monarques $MQR.ca Undertakes a Feasibility Study for its Wasamac #Gold Project $MUX.ca $SII.ca

Posted by AGORACOM-JC at 8:50 AM on Thursday, May 31st, 2018

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  • The BBA study for the custom milling option was positive and identified several processing plants able to provide the service.
  • Based on those results, the Corporation has retained BBA to conduct a feasibility study whose base scenario includes a mill and tailings facility near Wasamac, which will also allow to better assess the custom milling option.
  • The goal is to maximize the value of the Wasamac deposit, which contains a measured and indicated resource of 2,587,900 ounces of gold, and to bring it into production at the lowest possible cost.

MONTREAL, May 31, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has retained BBA to conduct a feasibility study for its Wasamac gold project. The study will cover the assessment, design, engineering and costing of the mine, mill, tailings management facility and all related services and infrastructure needed to develop and mine the Wasamac deposit. This new feasibility study will be based on an upgraded measured and indicated resource of 2,587,900 ounces of gold (see press release of October 26, 2017).

Monarques management’s priority is to examine every possible way of making Wasamac profitable at a gold price significantly lower than the scenario contemplated by the previous owner. The feasibility study will therefore consider the option of hauling the mineralized material underground to the vicinity of the rail line using the Rail-Veyor transport system, a promising technology currently in use at Agnico Eagle’s Goldex operation in Val-d’Or (see a Goldex Rail-Veyor system), which would eliminate the significant capital expenditures required to sink a shaft.

“The results of the updated Wasamac resource estimate were very positive and compare favourably with other similar deposits currently in production,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “We have therefore decided to proceed to the next stage with this feasibility study, which will include a base scenario of a mill and tailings facility near Wasamac and several options for hopefully improving mine profitability, including custom milling at one of the sites identified in the BBA study (see map of potential sites). We will then decide on the best strategy for Monarques. With a measured and indicated resource of 2,587,900 ounces of gold, the Wasamac gold project is the crown jewel of our transaction with Richmont Mines, and we are committed to putting it into production at the best possible cost, which could be a game-changer for Monarques in the long term.”

The Corporation expects to receive the results of the feasibility study by the end of 2018.

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

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

ABOUT BBA

BBA is a Canada-wide consulting engineering firm that offers multidisciplinary consulting services in engineering, project management and environment. Thanks to its cutting-edge expertise in the energy, mining and metals, biofuels, and oil and gas sectors, BBA is now recognized for the excellence of its services, from pre-study to onsite commissioning support and detailed engineering.

The firm relies on a team of over 750 professionals from its 11 offices across Canada to carry out local, national and international mandates, thereby helping its industrial clients implement the most reliable, profitable and eco-friendly solutions.

Forward-Looking Statements

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

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Monarques Gold $MQR.ca Announces its Third Quarter Results with Revenues of $9.8 million $MUX.ca $SII.ca

Posted by AGORACOM-JC at 8:25 AM on Friday, May 25th, 2018

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  • Revenues of $9.8 million, a 4.6% decrease compared to the second quarter due to a planned shutdown for maintenance work at Camflo and the breakdown of equipment at Beaufor
  • Normal production resumed in April 2018
  • 17% increase in revenue from custom milling activities
  • Monarques initiated several promising projects during the quarter

/PRNewswire/ – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report its results for the third quarter ended March 31, 2018. Amounts are in Canadian dollars unless otherwise indicated.

Highlights

Beaufor Mine

  • Production of 4,932 ounces in the third quarter, down 9% from 5,444 ounces the previous quarter due mainly to a planned shutdown for maintenance at the Camflo mill and to the breakdown of ore haulage equipment at the Beaufor Mine. The equipment was repaired and production resumed at the same pace as in the previous quarter.
  • A new ore haulage truck will be added on the Zone Q ramp towards the end of June. A Caterpillar AD-30 truck (see truck photo) will be lowered underground and reassembled at the Zone Q garage to increase haulage capacity in this area of the mine. This addition will strengthen Monarques’ truck fleet and avoid situations like the one that occurred in the quarter ended March 31.
  • Average selling price of $1,624 (US $1,284) per ounce sold ($1,602 or US $1,263 since the acquisition on October 2, 2017).
  • Production cash cost of $1,642 (US $1,298) per ounce sold ($1,490 or US $1,175 since the acquisition on October 2, 2017).
  • All-in sustaining cost of $1,782 (US $1,409) per ounce sold ($1,616 or US $1,274 since the acquisition on October 2, 2017) for Beaufor/Camflo.

Financial results

  • Revenues of $9.8 million in the third quarter from the sale of 4,823 ounces of gold combined with revenue from custom milling, which was up 17% for the quarter.
  • Net loss of $2.2 million or $0.010 per share, diluted, compared to a net loss of $0.7 million or $0.005 per share, diluted, last year.
  • Strong financial position, with cash of $18.1 million.

“Although our results for the quarter were below our expectations, they are the result of temporary issues that have been solved since,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Our production activities have been back to normal since April, and we foresee continued growth in our custom milling operations.”

“Furthermore, we are continuing to make progress on our other advanced projects, including Wasamac, Croinor Gold, McKenzie Break and Swanson, which are undergoing exploration work and technical studies, and for which we should have news in the coming weeks. We also expect to restart the Beacon plant at the end of 2018, which will enable us to increase our total production capacity to 2,350 tonnes per day. We are committed to continued growth in the production, resources and profitability ends of our business, and look forward to sharing the progress of our initiatives with our shareholders,” Mr. Lacoste added.

Summary of financial results

(in dollars, except per share data) Quarter ended

March 31

 Nine months ended

March 31
2018 2017 2018 2017
Revenues 9,820,111 – 20,118,035 –
Gross margin (186,549) – 1,269,938 –
Net loss (2,162,588) (696,081) (1,994,751) (1,709,904)
Loss per share, basic and diluted (0.010) (0.005) (0.010) (0.013)
Cash flows used in operating activities (3,366,968) (622,739) (1,772,217) (1,602,903)
EBITDA(1) (1,552,407) (583,581) (1,414,822) (1,375,889)
(1)      Non-IFRS measure. See under “Non-IFRS measures” at the end of this press release, and in the Corporation’s financial statements and management discussion and analysis for the reconciliation of this non-IFRS measure.
 (in dollars) March 31

2018

 June 30

2017
Cash and cash equivalents 18,092,189 7,356,155
Total assets 74,532,735 26,657,724

 

Key operating statistics

Quarter ended

March 31

 Nine months ended

March 31
2018 2017 2018 2017
Ounces of gold sold 4,823 – 10,267 –
Ounces of gold produced 4,932 – 10,376 –
Grade 4.72 – 4.81 –
Recovery 98.91 – 98.78 –
Key data per ounce of gold (CA $)
Average market price 1,680 – 1,641 –
Average selling price(1) 1,624 – 1,602 –
Production cash cost(2) 1,642 – 1,490 –
All-in sustaining cost 1,782 – 1,616 –
Average exchange rate (CA $/US $) 1.2648 – 1.2682 –
Key data per ounce of gold (US $)
Average market price 1,329 – 1,294 –
Average selling price(1) 1,284 – 1,263 –
Production cash cost(2) 1,298 – 1,175 –
All-in sustaining cost 1,409 – 1,274 –
(1)          The average selling prices for the three and nine month periods of 2018 should be $41 and $32 higher, respectively, if gold deliveries (861 ounces for the quarter and 1,722 ounces for the nine-month period) to Auramet in connection with deferred revenues over the periods had been recognized at the market price on the date the agreement was entered into on October 2, 2017, instead of at the recorded price, representing the amounts received from future gold production divided by the ounces to be delivered.
(2)     Production cash cost is a non-IFRS measure of financial performance without a standard meaning under IFRS. It may therefore not be comparable to a similar measure presented by another company. See “Non-IFRS measures” in the Corporation’s management discussion and analysis for the three month period ended March 31, 2018.

 

Corporate highlights

  • On February 8, 2018, Monarques announced a positive updated prefeasibility study for the Croinor Gold deposit (see press release).
  • On February 13, 2018, the Corporation announced that it was undertaking an NI 43-101 gold resource estimate for its McKenzie Break and Swanson properties. The Corporation has retained the services of Géologica of Val-d’Or for the McKenzie Break property and InnovExplo Inc. for the Swanson property (see press release).
  • On February 22, 2018, the Corporation announced that it will drill a total of 50,000 metres in 2018 at the Beaufor Mine and on the Croinor Gold property (see press release).
  • On March 12, 2018, the Corporation announced that it has closed a non-brokered private placement of units with the Government of Québec, through the Capital Mines Hydrocarbures fund managed by Ressources Québec, pursuant to which the Corporation had issued 12,820,513 units priced at $0.39 per unit for total gross proceeds of $5,000,000 (see press release).
  • On March 27, 2018, the Corporation reported new results that marked the end of its 2017 drilling program at the Beaufor Mine. The results were from a total of 7,157 metres of drilling in 52 holes, including 5 exploration holes (2,651 metres) and 47 definition drill holes (4,506 metres). The holes were drilled in multiple areas of the mine, including zones Q, QH2 and 32 and the 350H, 1700 and Granodiorite East projects (see press release).
  • On March 28, 2018, the Corporation announced that it had filed an NI 43-101-compliant technical report for its Croinor project on SEDAR (see press release).
  • On April 5, 2018, the Corporation announced that it had retained BBA to conduct a conceptual study for the transportation of gold-bearing material from the Wasamac deposit to an existing processing plant with an authorized tailings management facility in the region for custom milling (see press release).
  • On May 17, 2018, the Corporation announced that it had decided to start up its Beacon mill in Val-d’Or, located on Route 117, within 500 metres of the railway line and less than 10 km from the Beaufor Mine. The Corporation has allocated a budget of $1.5 million to upgrade the facility, and expects to commission the 750 tonne-per-day plant in the last quarter of 2018 (see press release).

Projects under way

  • Monarques’ goal for the coming quarters is still to increase the profitability of the Beaufor Mine, mainly by reducing production costs and improving grade through the use of a more selective mining method. The production cost cuts will also be achieved through higher productivity at the Camflo plant with the increase in custom milling activities.
  • The Corporation has also decided to restart the Beacon mill, as it foresees growing demand for custom milling services. It expects to be able to commission its 750 tonne-per-day plant in the last quarter of 2018.
  • Monarques is pursuing its programs of 30,000 metres of drilling on the Beaufor Mine and 20,000 metres of drilling on the Croinor Gold deposit, and will release the first set of results as soon as they become available.
  • The Corporation also started 43-101 resource estimates for its McKenzie Break and Swanson gold projects, with the results expected in June.
  • Finally, the Company is considering several options for the development of the Wasamac gold deposit, including custom milling and use of the rail network (less than 500 metres from the Wasamac site).

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

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Non-IFRS measures

Throughout this document, the Corporation has provided measures prepared in accordance with IFRS, as well as certain non-IFRS financial performance measures. Since non-IFRS performance measures do not have a standard meaning prescribed by IFRS, they may not be comparable to similar measures presented by other companies. The Corporation provides these non-IFRS financial performance measures because some investors may use them to measure our financial performance. As a result, they are intended to provide additional information, and should not be considered in isolation or as a replacement for performance measures prepared in accordance with IFRS. These non-IFRS measures of financial performance have been reconciled with the IFRS measures presented in the management discussion and analysis (see “Selected Quarterly Financial Information” for a description and reconciliation of these non-IFRS measures).

Forward-Looking Statements

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

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