MONARQUES GOLD CORPORATION (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report its production results and corporate highlights for the second quarter ended December 31, 2018. Amounts are in Canadian dollars unless otherwise indicated.
Production highlights
“These positive results for Monarques in the second quarter reflect a number of factors, including better grades from known stopes at the Beaufor Mine, higher gold prices and the sustained contribution of custom milling activities at Camflo,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “We will continue mining the ore remaining in the known stopes at Beaufor over the next few months, which should allow us to continue producing until April 2019. To reduce costs and in anticipation of the upcoming suspension of production activities at Beaufor, we stopped doing exploration and development work a few months ago and currently have 51 employees at the Beaufor Mine, compared to approximately 130 employees prior to the announcement of the suspension. I would also like to thank our employees for their outstanding performance during the quarter.”
Production statistics
Three months ended December 31, 2018 |
Three months ended December 31, 2017 |
Six months ended December 31, 2018 |
Six months ended December 31, 2017 |
|
Beaufor Mine | ||||
Ore processed (tonnes) | 26,079 | 35,005 | 55,454 | 35,005 |
Gold recovery (%) | 98.50 | 98.68 | 98.26 | 98.68 |
Ounces produced | 4,417 | 5,444 | 8,325 | 5,444 |
Ounces sold | 5,169 | 5,444 | 8,441 | 5,444 |
Corporate highlights
The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, P.Eng., the Corporation’s qualified person under National Instrument 43‑101.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corporation 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 (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as other promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.
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