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 while generating valuable operational data.
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 mill's capacity to process over 750 tonnes of material per day provides significant operational flexibility for both current and future projects in the region.
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 development projects, particularly in established mining jurisdictions like Quebec's Abitibi region.
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 project timelines compared to more remote mining properties.
The Beacon Gold Mill, fully owned by LaFleur Minerals, represents a strategic asset that could serve multiple purposes beyond processing Swanson's mineralized material. The company is considering using the mill for custom milling operations for other nearby gold projects, potentially creating additional revenue streams while optimizing mill utilization. This approach demonstrates the company's broader strategy of leveraging existing infrastructure to maximize value across its portfolio of assets in the region.
Curated from InvestorBrandNetwork (IBN)
