LaFleur Minerals Advances Swanson Gold Project with Bulk Sample Initiative
TL;DR
LaFleur Minerals starts permitting process for 100,000-tonne bulk sample extraction from Swanson Gold Deposit, aiming for mill restart and gold production by 2025.
LaFleur Minerals plans to extract mineralized material from Swanson Gold Deposit, process it at Beacon Gold Mill for potential future production evaluation.
LaFleur Minerals' mining projects in Quebec aim to generate cash flow, advance exploration, and deliver long-term value through sustainable resource development.
LaFleur Minerals consolidates land package for Swanson Gold Project, offering potential for gold production and custom milling operations, enhancing development prospects.
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LaFleur Minerals has commenced the permitting process for a significant exploration initiative at its Swanson Gold Project in Quebec's Abitibi Gold Belt. The company plans to extract a 100,000-tonne surface bulk sample from the deposit, which currently hosts an indicated resource of 123,400 ounces of gold and an inferred resource of 64,500 ounces of gold. This substantial sampling effort represents a critical advancement phase for the project, moving beyond preliminary exploration toward potential production readiness.
The mineralized material will be processed at LaFleur's fully permitted Beacon Gold Mill, located 50 kilometers from the Swanson Gold Deposit. This strategic approach allows the company to generate potential near-term cash flow while simultaneously advancing its exploration efforts. The proximity of the mill to the deposit creates operational efficiencies and reduces transportation costs, enhancing the project's economic viability. The Beacon Gold Mill, fully owned by LaFleur Minerals, is capable of processing over 750 tonnes of material per day.
LaFleur Minerals aims to restart the mill and initiate gold production by the end of 2025. Processing the bulk sample will provide critical data to support a comprehensive scoping study evaluating the project's future production potential. The company is considering using the mill not only for processing Swanson's mineralized material but also potentially for custom milling operations for other nearby gold projects, which could create additional revenue streams and optimize mill utilization.
The Swanson Gold Project spans over 16,000 hectares and includes several gold and critical metal prospects previously owned by Monarch Mining, Abcourt Mines, and Globex Mining. The property's accessibility by road and proximity to a rail line enhances its development potential, offering direct access to nearby gold mills. This infrastructure advantage positions the project favorably within the established mining jurisdiction of Quebec's Abitibi region, known for its rich gold mining history and supportive regulatory environment for mineral development.
Curated from InvestorBrandNetwork (IBN)
