Beaufor is an operating underground gold mine in Val-d’Or, Quebec operated by Monarch. Since 1933, Beaufor produced more than 1.16 Moz at a historical grade of 7.5g/t gold. Production activities had been extended to April 2019 with the goal to increase the high-grade resource via drilling. Beaufor currently has a reserve of 30.6Koz of gold grading 6.83g/t within an M&I resource of 85.4Koz of gold grading 7.67g/t. Monarch Gold is undergoing a data compilation and drilling program to potentially restart production at the mine. Monarch Gold holds a 100% interest in the Beaufor Mine, which includes two mining leases, a mining concession and 23 mining claims covering an area of 5.9 km2. The mine is located at about 20 kilometres northeast of the town of Val-d’Or, in the Abitibi-East township, in the Province of Quebec.
Interest: 1.0% NSR Royalty (The royalty has a 100 Koz exemption with ~75 Koz remaining)
Location: Rouyn-Noranda, Quebec
Project Status: Development
Counterparty: Monarch Gold (TSX:MQR)