The Beaufor mine and Beacon mill have produced over 1.1 million oz. of gold since it first opened in the 1930s. Monarch acquired a 100% interest in both assets between 2016 and 2017, with a view of rebooting the gold-producing operation.
Mining has already restarted at the Beaufor mine, with 23,914 tonnes of ore averaging 4.76 g/t gold stockpiled to date. During the production for the month of July, the Beacon mill (750 t/d capacity) achieved a record day of 765 tonnes of ore and ore recovery ranged from 96.3% to 98.7%. The data is still preliminary at this stage of the milling process, given its pre-commissioning started only two months ago.
“The next step will be to gradually increase the production rate of the Beacon mill to reach commercial production, a goal we expect to achieve in the coming months. This will ultimately allow us to recoup our investment and fund the development of our other promising exploration projects,…
