- The Croinor Gold technical report shows an estimated Measured and Indicated mineral resource of 903,600 tonnes at an average grade of 6.47 g/t Au for a total of 187,900 ounces of gold, and an estimated Inferred mineral resource of 200,100 tonnes at an average grade of 6.19 g/t Au for a total of 39,800 ounces.
- The mineral resource was calculated at a gold price of
US$1,600 per ounce and an exchange rate of 1.30 USD/CAD. - As a result of the new estimate, Monarch has increased its combined Measured and Indicated resource by 39% to 666,882 ounces and its Inferred resource by 10% to 423,193 ounces of gold, all lying within a 60 km radius of the Corporation’s wholly-owned
Beacon Mill and other existing milling facilities in the area.
The technical and scientific content of this press release has been reviewed and approved by
About Monarch
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FOR MORE INFORMATION: | |
1-888-994-4465 | |
President and Chief Executive Officer | jm.lacoste@monarchmining.com |
Mathieu Séguin | 1-888-994-4465 |
Vice President, Corporate Development | m.seguin@monarchmining.com |
www.monarchmining.com
Table 1: Monarch combined gold resources
Mineral resource estimates | Tonnes (metric) | Grade (g/t Au) | Ounces | |
Measured Resources | 328,500 | 5.7 | 59,900 | |
Indicated Resources | 956,400 | 5.2 | 159,300 | |
Total Measured and Indicated | 1,284,900 | 5.3 | 219,200 | |
Total Inferred | 818,900 | 4.7 | 122,500 | |
Croinor Gold2 | ||||
Measured Resources | 97,700 | 6.24 | 19,600 | |
Indicated Resources | 805,900 | 6.50 | 168,300 | |
Total Measured and Indicated | 903,600 | 6.47 | 187,900 | |
Total Inferred | 200,100 | 6.19 | 39,800 | |
McKenzie Break3 | ||||
In-pit | ||||
Total Indicated | 1,441,377 | 1.80 | 83,305 | |
Total Inferred | 2,243,562 | 1.44 | 104,038 | |
Underground | ||||
Total Indicated | 387,720 | 5.03 | 62,677 | |
Total Inferred | 1,083,503 | 4.21 | 146,555 | |
In-pit | ||||
Total Indicated | 1,864,000 | 1.76 | 105,400 | |
Total Inferred | 29,000 | 2.46 | 2,300 | |
Underground | ||||
Total Indicated | 91,000 | 2.86 | 8,400 | |
Total Inferred | 87,000 | 2.87 | 8,000 | |
TOTAL COMBINED5 Measured and Indicated Resources Inferred Resources | 666,882 423,193 | |||
1 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 2 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 3 Source: NI 43-101 Technical Evaluation Report on the McKenzie Break Property, 4 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 5 Numbers may not add due to rounding. |
Source:
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