Disseminated on behalf of LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) and may include paid advertising.
- LaFleur Minerals is adding another 701 hectares to its gold project holdings in eastern Canada’s prolific Abitibi Greenstone Belt
- The company’s agreement to obtain 100% right, title and interest in 27 mineral claims adjacent to its recently acquired McKenzie East Project adds to the growing size of this project near Val-d’Or, Québec
- The Beacon Gold Mill is expected to resume production in the coming months after a series of refurbishing upgrades, enabling LaFleur to enter the market at a time when gold prices are far above the levels they enjoyed when the mill stopped operations in 2022
- LaFleur’s new property acquisition has a historical gold showing and the company anticipates an aggressive exploration strategy on the 27 claims, which it reports are “currently active and in good standing to June 12, 2027”
Near-term gold producer LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) is continuing to expand its property holdings in the prolific Abitibi Gold Belt of eastern Canada, which is distinguished as the largest gold-producing region in the country.
LaFleur’s acquisition last month of 100% right, title and interest in 27 mineral claims immediately adjacent to the McKenzie East Project acquired by the company in April brings its acreage within the renowned greenbelt to 57,083-plus (approximately 23,101 hectares, or 231 square kilometers), comprising 490 claims between its McKenzie and flagship Swanson gold projects in addition to the new holding.
“This is a strategic addition to our growing land position in the Val-d’Or mining district and McKenzie East Gold Project,” LaFleur’s Vice President of Exploration Marc Ducharme, P.Geo., stated in the company’s news release (https://nnw.fm/NNkUN). “Consolidating prospective, historically explored ground in the heart of the Abitibi Gold Belt in the same belt as our Swanson Gold Project and Beacon Gold Mill is central to our district-scale strategy.”
The 100%-owned Beacon Gold Mill anchoring LaFleur’s strategy for gold production was acquired shortly after it was shuttered by the bankrupt former owner. LaFleur anticipates restarting the mill within the coming months following detailed recommissioning work.
The company plans to use an existing 10,000 to 20,000 metric tonnes of existing stockpiles at Beacon to resume gold pours at the mill, and the addition of potential mineralized material from Swanson once permitting is complete creates growing opportunity for capitalizing on the precious metal’s heady market prices.
Gold has retreated from its record $5,602 price mark in January amid international conflict tensions, but at the end of the second quarter was still hovering above the $4,000 per troy ounce mark — well above the $1,600 an ounce gold commanded in 2022 when the Beacon Gold Mill was last operating, which is the company’s all-in sustaining cost measure.
Goldman Sachs economists predict gold will enjoy a new rally later this year, based on their analysis of “structural and eventually cyclical factors,” Yahoo Finance recently reported (https://nnw.fm/neWwO).
LaFleur expects the Beacon Gold Mill to begin processing mineralized material from Swanson at a rate of 750 metric tons per day (“TPD”), increasing output gradually to 1,250 TPD by the end of the first year of operation (https://nnw.fm/2kGNy).
In the meantime, the new property acquisition has increased the size of its land holdings in the Abitibi and commence aggressive exploration programs to increase resources in the region.
“The Property covers ground that hosts the historical Maruska gold showing within the Pascalis-Tiblemont batholith, and we look forward to compiling the available historical data and conducting aggressive exploration strategies and drilling potential historical targets as we continue to build long-term value for our shareholders,” Ducharme stated.
The Val-d’Or mining camp where the properties are located provides critical labor and supply resources for the Abitibi region, granting LaFleur’s properties strategic access to those resources and helping the company to minimize its costs.
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://nnw.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 Adv
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