Monarch Mining grows McKenzie Break gold resources
Core samples from Monarch Gold's McKenzie Break gold project in Quebec. Photo Credit: Monarch Gold.
After completing a Plan of Arrangement with
Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY) in January,
Monarch Mining (TSX: GBAR) is now working to advance spin-out assets within the new company. Monarch has released an updated resource estimate for the McKenzie Break property in Quebec, 25 km north of Val-d’Or.
Pit-constrained indicated resources at the site total 1.4 million tonnes grading 1.8 grams gold per tonne for a total of 83,305 gold oz. with an additional 2.2 million pit-constrained inferred tonnes at 1.44 grams gold per tonne for a further 104,038 gold ounces. The underground inventory includes 387,720 indicated tonnes grading 5.03 grams gold that contains 62,677 oz. of gold and 1.1 million inferred tonnes at 4.21 grams gold for an additional 146,555 gold ounces.