- LaFleur Minerals acquired the fully permitted and refurbished Beacon Gold Mill at a steep discount after Monarch Mining’s bankruptcy, offering a critical near-term processing solution in Quebec’s Tier-1 Abitibi Gold Belt, where demand for milling services is rising with the high price of gold.
- LaFleur also owns the Swanson Gold Project, located just 50 km from the Beacon Mill, to be developed for the company’s own mining prospects.
- The company is already attracting interest from potential development funders for advanced milling and gold project plans, with LaFleur targeting near-term revenue through custom milling and its own gold project production.
LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF), a Canadian near-term gold producer, is uniquely positioned to offer critical gold milling services, with a practical advantage rarely found in today’s mining sector: a ready-to-go, fully permitted gold mill sitting in a high-demand Tier-1 gold mining district. The company’s Beacon Gold Mill, located in Val-d’Or, Quebec, an active mining hub in the Abitibi Gold Belt, was acquired out of bankruptcy for just C$1 million (US$ 0.73 million). Monarch Mining, the former owner, had invested over C$20 million upgrading the mill. LaFleur now controls this asset, which could otherwise take 3–5 years in permitting and at least US$80–100 million to build from scratch.
What makes this acquisition especially timely is the current surge in gold prices, now trading at nearly double the level at the time of LaFleur’s mill purchase. Gold mining companies in the region are eager to process their large bulk samples and ore quickly, and the Beacon Mill stands out as the area’s best asset to meet this need.
LaFleur’s recent land consolidation strategy has also expanded its own gold footprint in the Abitibi. The company now controls over 166 km2 (41,000 acres) of prospective ground through acquisitions from Monarch Mining, Abcourt Mines, and Globex Mining. The focus remains on gold, although some holdings contain other critical metals.
With some additional upgrades, LaFleur can begin processing for its own Swanson Gold Project, located just 50 km from the Beacon Mill. The company is already in discussions with interested financing partners and expects to generate revenue from processing large bulk samples from Swanson and other local gold deposits by late 2025 to early 2026 and from future custom milling or toll milling agreements with mining companies in the Abitibi.
The Swanson Gold Project, where the company holds 100% ownership, carries a 2024 mineral resource estimate identifying 123,400 ounces of gold in the Indicated category and another 64,500 ounces in Inferred. Some of that resource lies on an existing mining lease, which is quicker to mine than on a standard mining claim, thus enabling LaFleur to begin pulling mineralized material sooner.
A minimum 5,000-metre drill program is underway at Swanson and surrounding targets. The goal is to grow the current 187,900-ounce resource toward 1 million ounces, which would help justify expanded milling capacity.
The company expects to begin processing mineralized material from Swanson by late 2025 and projects annual gold production between 15,000 and 20,000 ounces by early 2026. Once in full production, that number could rise above 30,000 ounces.
As a regional custom milling center, the Beacon Mill is currently capable of processing 750 tonnes per day, with a potential to scale up to 1,800 tpd or higher with expansion.
Québec’s mining-friendly policies, flow-through share incentives, and abundant infrastructure, add to the appeal. The province ranked fifth globally in the Fraser Institute’s 2023 mining jurisdiction index. With gold prices near all-time highs, a functioning gold mill in a high-demand field, and a growing gold deposit in the immediate vicinity, the company is remarkably well-placed to bridge the gap between exploration and production.
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
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