Monarques Gold Corp has presented the initial parameters today for the feasibility study to be carried out on its Wasamac gold property by BBA. The study, to be completed in December 2018, will include assessment, design, engineering and costing for the mine, the processing plant, the tailings management facility and all the related services and infrastructure required to develop and mine the Wasamac deposit.
•The feasibility study will indicate that the Wasamac deposit will be mined using a top-down rather than a bottom-up sequence
•The initial parameters include a planned production rate of 6,000 t/d, access to the deposit via twin ramps and the use of the Rail-Veyor transport system
•The project includes many large intersections that were drilled by Richmont Mines in 2011-2012 and that were part of the resource estimate done in October 2017 (see NI 43-101 report from Roscoe Postle Associates)
•The goal of the study is to put the Wasamac gold deposit into production at the lowest possible cost.
Monarques is taking a different approach to the project than Wasamac’s previous owner. It will harness the latest technology and use a top-down rather than a bottom-up mining method in its attempt to put the Wasamac deposit into production at the best possible cost. Furthermore, it is opting for twin ramps and the use of the Rail-Veyor system underground to haul the mineralized material close to the railway, which will eliminate the hefty capital expenditures associated with building a shaft. The Rail-Veyor system is a promising new technology currently in use at Agnico Eagle’s Goldex project in Val-d’Or.
The study also assumes a production rate of 6,000 t/d. In addition, the land acquired for the mill and tailings facility provides major advantages as it lies alongside the Ontario Northland railway track, on the other side of the Trans-Canada Highway, farther away from the local communities.
“We are working hard to make Wasamac a success, both economically and for the local communities,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “We want this project to fulfil the economic and environmental criteria and meet the local communities’ requirements, and we are confident that with BBA’s help, we can achieve that goal. We are also keeping open the option of custom milling the ore at one of the sites identified by BBA’s previous study.”
Monarques 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 close to 300 km² of gold properties, including the Wasamac deposit (M&I Resource of 2.6 Moz of gold), the Beaufor mine, the Croinor Gold, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as five promising exploration projects. It also offers custom milling services out of its 1,600 t/d Camflo mill.
