The Camflo mill will process the ore from the Fenelon Gold property
MONTREAL, Nov. 14, 2017 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX.V:MQR)(OTCMKTS:MRQRF)(FRANKFURT:MR7) is pleased to announce that it has entered into a custom milling contract with Wallbridge Mining Company Limited ("Wallbridge") (TSX:WM, FWB:WC7) to process 35,000 tonnes of ore from the Fenelon Gold property, located 75 km west-northwest of Matagami, Quebec, at Monarques' Camflo mill.
"This second contract signed in recent weeks is a testament to the processing expertise of our team at the Camflo mill," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "Our goal is to have the Camflo mill running at full capacity, and we are pursuing our efforts to negotiate other custom milling agreements in order to achieve that goal. As reported previously, we recently received a certificate of authorization allowing us to increase the production capacity of the Camflo mill from 1,200 to 1,600 tonnes per day."
Wallbridge is currently awaiting permits to begin mining a 35,000-tonne underground bulk sample from its Fenelon property starting late fall and expects to deliver ore in the second quarter of 2018. Recent drilling results from the Fenelon Gold property to follow up on high-grade results have been quite successful so far this year to expand their resource.
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 Corp (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 more than 240 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,200 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.
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.
SOURCE Monarques Gold Corporation
For further information: 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.com