Disseminated on behalf of LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) and may include paid advertising.
- LaFleur Minerals is a Canadian near-term gold producer focused on restarting operations at its Beacon Gold Mill and Mine, and its nearby Swanson Gold Project, all located at the eastern edge of the renowned Abitibi gold belt in Val d’Or, Quebec
- LaFleur recently completed oversubscribed placements to inject more than $7.8 million into its operations , paving the way for restarting production at their own mill, using an existing stockpile of gold ore at the site for a trial processing run
- LaFleur can also provide custom milling as a secondary revenue stream, handling processing orders from regional operators, in addition to its own gold exploration project and source of mineralized material
- The Beacon Gold Mill is capable of processing 750 metric tons per day of ore, is fully permitted to process up to 1.8 million metric tons of tailings, and is in a state of readiness pending the restart
The recent closing of a non-brokered hard-dollar private placement funding drive, a Listed Issuer Financing Exemption (“LIFE”) offering and a tax flow-through eligible offering have put gold explorer and near-term producer LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) in position to begin creating value in accordance with production plans for its wholly owned mill. LaFleur Minerals is a well-positioned gold play in a Tier 1 jurisdiction, headed for gold production restart and revenue generation, with a rare combination of district-scale exploration and processing infrastructure.
LaFleur Minerals injected combined gross proceeds of more than $7.8 million into its operations through the three funding mechanisms (https://ibn.fm/B0qKe), announced as the company prepares to commission and restart gold production operations at the Beacon Gold Mine and Mill located in the renowned Abitibi Gold Belt (https://ibn.fm/OqYJZ), Canada’s largest gold producing region.
The Beacon Gold Mill is located on Route 117 in Val d’Or, Quebec, about 60 km south of LaFleur’s Swanson Gold Project. The mill is a previously operated, newly upgraded facility, currently capable of processing 750 metric tons per day of ore with its crushing, grinding, flotation, regrind, leaching and Merrill‑Crowe circuits.
The strategic infusion of capital from the three recent funding mechanisms will be used to commission and restart gold production at the Beacon Gold Mill and Mine, beginning with the trial processing of 10,000 to 20,000 metric tons of existing mineralized stockpiles that are found on-site early this year. The company’s nearby Swanson Gold Project will also benefit from the capital infusion as LaFleur begins to focus on new exploration at the district-scale 18,304-hectare (45,230-acre) site, and advances work including bulk sampling and the finalization of an upcoming Preliminary Economic Assessment (“PEA”) and preparing to supply mineralized material for processing at Beacon.
The Beacon Gold Mill will be available to process gold ore from the Swanson project, and LaFleur has stated it can take advantage of its opportunity to create an additional source of revenue in custom processing of ore from other mining companies operating nearby in the Abitibi belt, although it will still focus on its own operations. Major operators such as Agnico Eagle, Eldorado Gold and Probe Gold/Fresnillo are located near LaFleur. Since 1901, the prolific gold belt has produced over 100 mines and 170 million ounces of the precious metal (https://ibn.fm/ZjF8x) and remains flush with nearby deposits that lack processing infrastructure to monetize their ore.
A Preliminary Economic Assessment (“PEA”) for Swanson is expected to be completed within the month, led by ERM, providing a robust mining model for these vertically integrated operations. It has the benefit of drawing on data from historical drilling at the site as well as new twin-hole drilling and infill to update the resource.
“Because Swanson is so advanced and sitting on an existing mining lease, we can get that into production fairly quickly compared to maybe other deposits in the region,” LaFleur CEO Paul Ténière said during an October interview with Crux Investor (https://ibn.fm/CzXj3).
For more information, visit the company’s website at LaFleurMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to LFLRF are available in the company’s newsroom at https://ibn.fm/LFLRF
Qualified Person Statement:
All scientific and technical information contained in this article has been reviewed and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the company and considered a Qualified Person for the purposes of NI 43-101.
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