Toronto-listed Monarch Mining has been working relentlessly to restart the Beaufor mine and Beacon mill and is pleased to see its efforts coming to fruition, president and CEO Jean-Marc Lacoste said on Tuesday, reporting that it has begun processing ore.
After investing C$20-million in refurbishing the Beacon mill, in Val’d-Or, Quebec, Monarch began processing waste rock and fine-tuning the mill six weeks ago. It has also been mining ore at Beaufor over the last few months, with 30 549 t, averaging 4.75 g/t gold, currently stockpiled.
Monarch started feeding the mill with ore this week and said it would pour its first gold bar in July.
“We have a great team and I’m really proud of what we have been able to accomplish thus far. We are convinced that our new mining and exploration strategies will enable us to make the Beaufor mine a success once again and create new, good-quality jobs and sustainable employment in the region in the process,” said Lacoste.
Once the mine and mill were fully operational, the company would focus on generating cash flow for its exploration activities and increasing the Beaufor resource, which remained open on several levels of the mine.