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 step in validating the project's economic potential and advancing it toward production.
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 provides significant logistical advantages and cost efficiencies that enhance the project's overall viability.
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 timing aligns with favorable market conditions for gold and positions the company to capitalize on growing demand for precious metals.
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 reduces development costs and accelerates the timeline to production compared to more remote projects.
The Beacon Gold Mill, fully owned by LaFleur Minerals, is capable of processing over 750 tonnes of material per day. 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. This dual-use strategy could provide additional revenue streams and establish LaFleur as a regional processing hub, creating synergies that benefit multiple mining operations in the area.
Curated from InvestorBrandNetwork (IBN)
