The Wasamac property is located approximately 15 km west-southwest of Rouyn-Noranda,
Quebec, Canada, in Beauchastel Township, within the central portion of the Abitibi gold mining
district. The property consists of three mining concessions covering 757.65 ha and eleven mining
claims covering 391.68 ha for a total area of 1,149.33 ha in Beauchastel Township.
The Wasamac property is subject to a Feasibility Study with highlights of:
- Solid output: Annual average gold production of 142,000 ounces over 11 years.
- High return: Pre-tax internal rate of return of 23.6%, net present value of $522 million and payback period of 3.6 years.
- Low production cost: Production cash costs of $720/oz (US$550/oz) and all-in-sustaining costs of $826/oz (US$630/oz).
- CAPEX: Initial capital expenditures of $464 million, including about $230 million for the mill and tailings facility.
- Strategic location: Mine infrastructure to be located on newly acquired land next to the Trans-Canada highway and 200 metres from the railway leading to all the main custom milling facilities.
- Strong exploration potential: Deposit largely underexplored at depth and along strike.
Interest: 1.5% NSR Royalty (Buyback right of 0.5% for C$7.5 million is retained by owner of the property)
Location: Rouyn-Noranda, Quebec
Project Status: Development
Counterparty: Monarch Gold (TSX:MQR)
The Wasamac property contains the following reserves and resources:
Mineral Reserve Statement – December 1, 2018
Mineral Resource Statement – October 20, 2017
- CIM (2014) definitions were followed for Mineral Resources.
- Mineral Resources are inclusive of Mineral Reserves.
- Mineral Resources are estimated at a cut-off grade of 1.0 g/t Au.
- Mineral Resources are estimated using a gold price of US$1,500 per ounce, and exchange rate of US$0.80 = C$1.00.
- A minimum mining width of four metres was used.
- A bulk density of 2.8 g/cm3 was used.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- Numbers may not add due to rounding.
For more information please visit www.monarquesgold.com