MONARQUES GOLD CORPORATION (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report its production results and highlights for the second quarter ended December 31, 2017. All amounts are in Canadian dollars unless otherwise indicated.
Q2 2018 Production Highlights
“We exceeded our target for the quarter by producing more gold than anticipated,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Our toll milling activities were also strong. With the addition of Eldorado Gold (TSX:ELD; NYSE:EGO) and Nottaway Resources, the Camflo mill operated at 72% capacity during the last quarter, and based on the contracts signed for 2018 with Nottaway and Wallbridge Mining, among others, we expect to continue to increase mill productivity in the next quarter. On the exploration side, our recent drilling program at Beaufor was a success, and we plan to continue drilling to increase the mine’s gold resource.”
Q2 2018 Production Statistics
|Production statistics||Q2 2018|
|Beaufor mine statistics|
|Ore processed (tonnes)||35,005|
|Gold recovery (%)||98.68|
Q2 2018 Corporate Highlights
“2018 will be another milestone year for Monarques, as we will pursue our growth strategy with the goals of improving our financial performance, increasing our gold resources and continuously enhancing the value of Monarques for our shareholders,” concluded M. Lacoste.
The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person under National Instrument 43‑101.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corp is an emerging gold producer 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 Beaufor Mine, the Croinor Gold Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.
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