- LaFleur Minerals is ramping up expectations for its gold exploration and processing operation in Quebec, working to restart its wholly-owned mill while completing an assessment of hole-drilling work across its 18,304-hectare (45,230-acre) project
- The company’s Swanson Gold Deposit site is part of the Abitibi Greenstone Belt, which is a globally renowned gold district
- LaFleur anticipates its Beacon Gold Mill will deliver near-term revenues from processing custom raw ore projects for neighboring gold claims, while also being available for production of its own gold product once exploration gets fully under way
- The company has drilled 24 holes to date on its gold deposit project and has reported enthusiasm for initial near-surface assays that demonstrate strong potential for expanding shallow, open-pit mineral resources at the site
- In addition, LaFleur Minerals has announced listing on Tradegate, bolstering its international visibility and exposure to European markets
Gold exploration and development company LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) expects to wrap up a comprehensive Preliminary Economic Assessment (“PEA”) for its drilling project in the Abitibi Greenstone Belt of Quebec, Canada by the end of October, moving its gold exploration forward even as the company prepares to restart production at its gold mill operation for near-term revenues.
LaFleur Minerals has drilled 24 holes to date on its approximately 18,304-hectare (45,230-acre) site. Six of the holes have been assayed, exhibiting high-grade, near-surface intercepts that show the strong potential to expand shallow, open-pit mineral resources at the Swanson Gold Project.
High-grade, near-surface assays of 7.47 g/t gold (Au) over 1.35 meters, 7.68 g/t gold (Au) over 1.0 meter, and 17.80 g/t gold (Au) over 1.0 meter suggest the potential for growth at Swanson and the exponential exploration upside of this district-scale project. The most recent of the three findings included anomalous molybdenum (Mo) and copper (Cu), which represents a significant and different style of mineralization than that observed at the Swanson Gold Deposit, located 3 km to the northeast, and opens up a new target type for exploration, according to the company.
“With multiple mineralized zones intersected across both targets, we are building confidence in the scale and continuity of the gold system at Swanson,” LaFleur Minerals CEO Paul Ténière stated in a news release dated Sept. 24 (https://ibn.fm/G36rB). “These assay results represent important step-outs at Swanson, extending known mineralization significantly along strike in both directions.”
Additional holes are currently being logged, sampled, and submitted to the laboratory for assay testing. The company will report on them as the assay results become available.
The Beacon Gold Mill, located 60 km from the exploration site and 20 minutes’ drive from the town of Val-d’Or, is the company’s more immediate source for driving anticipated cash flow, however.
“LaFleur Minerals is blessed to have the fully updated and permitted Beacon Gold Mill, tailings storage facility (‘TSF’), and nearby Swanson Gold Deposit with an open-pit constrained mineral resource estimate,” Board Chairman Kal Malhi stated. “This puts LaFleur Minerals in a unique category of a full-fledged near-term gold producer in the prolific Abitibi Gold District.”
The mill, capable of processing more than 750 metric tons of raw ore per day, will be marketed as able to accept custom milling work for other nearby gold projects once permitting is completed. The mill had received more than $20 million in equipment and other upgrades from a former owner before its acquisition by LaFleur, and the company has been raising capital for its plans to provide an estimated $3 million to $5 million in restart upgrades that will get the mill in motion.
The mill will also be able to accept mineralized material in-house from its Swanson Gold Deposit, and the PEA will ascertain the full mining and economic viability of restarting gold production at the mill with that material.
LaFleur is also completing various strategic marketing and investor relations agreements with independent contractors and agencies to increase the company’s exposure to a wider audience. The company’s common shares are cross-listed on the Canadian Securities Exchange (“CSE”) and the Frankfurt Stock Exchange (“FSE”). LaFleur has recently listed on the Tradegate Exchange, enhancing visibility and accessibility to European and international investors, during an exciting and pivotal time in its exploration and development activities, as LaFleur Minerals transitions from explorer to fully-integrated gold producer at its flagship Beacon Gold Mill located in the prolific Abitibi Gold Belt.
And finally, LaFleur Minerals has announced listing on Tradegate, bolstering its international visibility and exposure to European markets. As the Company continues to expand its presence throughout new markets, Tradegate provides LaFleur Minerals with a unique opportunity to connect with a diverse, international and growing pool of investors, further solidifying its commitment to transparency, accessibility, and long-term growth.
The Tradegate Exchange, operated by Tradegate AG, is one of Europe’s most liquid venues for equities and exchange-traded products. As a market specialist, Tradegate manages over 10,000 German and international stocks and exchange-traded products (“ETPs”), largely targeted to the retail investor. Tradegate is known for its efficient trading platform, which can improve liquidity for listed stocks, facilitates fast, transparent and direct execution of securities orders, providing access to a larger pool of international investors and thereby enhancing their market presence and potential for wider access to investment capital (https://ibn.fm/V5dcJ).
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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