Monarch Mining: Restarting a Gold Mine in a Prolific Jurisdiction
Plans to restart the Beaufor Mine in Quebec’s prolific Abitibi Greenstone Belt
Monarch Mining is a fully integrated mining company. They own four advanced projects, namely the Beaufor, Croinor Gold, McKenzie Break and Swanson projects. Further, they are all located near Monarch’s wholly owned and fully permitted Beacon 750 tpd mill. The company owns more than 260 km2 of mining assets in the prolific Abitibi mining camp. This represents a combined portfolio of 588,482 ounces of M&I gold resources, and 329,393 ounces of inferred resources.
Monarch Mining was created following the +$200M successful transaction between Yamana Gold and Monarch Gold announced on November 2, 2020.
“We’re one of the upcoming producers in the Abitibi with a producing mine,” says President and CEO, Jean-Marc Lacoste.
Monarch holds a 100% interest in the Beaufor Mine, which includes two mining leases, a mining concession and 23 mining claims covering an area of 6.91 km². Furthermore, the mine is located at about 20 kilometres northeast of the town of Val-d’Or, in the Abitibi-East township, in the Province of Quebec. Additionally, the Beaufor Mine is an underground mine and will be starting up production this year.
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