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LaFleur Minerals Advances Towards Gold Production in Quebec's Abitibi Region
LaFleur Minerals Inc., a Canadian exploration and development company, is making significant strides in its quest to become a near-term gold producer in Quebec's prolific Abitibi Gold Belt. The company's strategy revolves around advancing the Swanson Gold Project and restarting the Beacon Gold Mill.
The Swanson Gold Project, spanning approximately 16,600 hectares, is home to significant gold resources. With a resource estimate of approximately 123,400 ounces of gold in the indicated category and 64,500 ounces inferred, the project aligns with CIM and NI 43-101 standards. Exploration and diamond drilling programs are underway, fully permitted, and funded to further delineate resources and advance the deposit toward production.
The Beacon Gold Mill, located about 50 kilometers from the Swanson deposit, is a critical asset for LaFleur Minerals. Fully refurbished and permitted, the mill can process over 750 tonnes per day, with potential capacity expansion. The mill's strategic location along existing rail and road infrastructure makes it ideal for processing ore from Swanson and other nearby gold deposits, as well as for providing custom milling services to other regional projects, enhancing operational flexibility.
LaFleur Minerals has consolidated a large land package around the Swanson, Bartec, and Jolin gold deposits and other showings, making up the Swanson Gold Project. The company's strategic positioning, combining the Swanson deposit's scale and the Beacon Mill's processing capacity, aims to establish LaFleur Minerals as a near-term gold producer in the Abitibi Gold Belt.
The company benefits from an advanced-stage exploration project with extensive historical drilling (over 950 holes) and limited need for new infrastructure. The Beacon Mill's refurbishment requires approximately C$4.1 million for commissioning, much lower than the C$71.5 million replacement cost, indicating a cost-efficient path to production readiness.
With gold prices surging, LaFleur Minerals may look at producing not just from its own property, but also from others in the region. The Beacon Gold Mill, which was previously upgraded with a $20 million investment by Monarch, is well-positioned to capitalise on this opportunity.
LaFleur Minerals has a mining lease at Swanson, allowing for faster production. The company is positioning itself to transition into production soon, leveraging existing infrastructure and significant exploration investment (around $5 million) to capitalise on current favourable gold prices exceeding US$3,365 per ounce.
[1] LaFleur Minerals Inc. (CSE: LFLR, OTC: LFLRF, OTCQB: LFLRF). (2022, June 27). LaFleur Minerals Inc.'s Near-Term Gold Production Strategy in Quebec's Abitibi Region. BusinessWire. Retrieved June 28, 2022, from https://www.businesswire.com/news/home/20220627005007/en/Lafleur-Minerals-Inc%E2%80%99s-Near-Term-Gold-Production-Strategy-in-Quebec%E2%80%99s-Abitibi-Region
[2] MiningNewsWire. (2022, June 27). LaFleur Minerals Advancing Swanson Gold Project in Quebec's Abitibi Region. MiningNewsWire. Retrieved June 28, 2022, from https://miningnewswire.com/la-fleur-minerals-advancing-swanson-gold-project-in-quebecs-abitibi-region/
[3] MiningNewsWire. (2022, June 27). LaFleur Minerals Inc.'s Near-Term Gold Production Strategy in Quebec's Abitibi Region. MiningNewsWire. Retrieved June 28, 2022, from https://miningnewswire.com/lafleur-minerals-incs-near-term-gold-production-strategy-in-quebecs-abitibi-region/
[4] Stockhouse. (2022, June 27). LaFleur Minerals Inc.'s Near-Term Gold Production Strategy in Quebec's Abitibi Region. Stockhouse. Retrieved June 28, 2022, from https://www.stockhouse.com/news/press-releases/2022/06/27/lafleur-minerals-incs-near-term-gold-production-strategy-in-quebecs-abitibi-region
- LaFleur Minerals' strategy, centered on the Swanson Gold Project, involves advancing in the critical metals sector by exploring and drilling, aiming to secure financing and integrate technology for production.
- With the Beacon Gold Mill's processing capacity and strategic location, LaFleur Minerals can explore opportunities in the industry, potentially providing milling services to other regional projects, thereby increasing operational flexibility.
