Canada NewsWire
MONTREAL, Oct. 10, 2017
Monarques' Camflo mill pours its first gold bar from the Lamaque mine ore
MONTREAL, Oct. 10, 2017 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to announce the signature of a custom milling contract with Eldorado Gold Corporation ("Eldorado") (TSX: ELD; NYSE: EGO) to process ore from the Lamaque gold mine, located east of Val-d'Or, Quebec. The contract provides for the Corporation to process some 50,000 to 55,000 tonnes of ore from the Lamaque mine ore at the Camflo mill until December 31, 2017. The contract can be extended by mutual agreement of both parties.
This is very good news for Monarques and our team at the Camflo mill," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "This contract will enable the Camflo mill to operate at 90% of its 1,200 tonne-per-day capacity, and will effectively reduce the operating costs for the Beaufor mine over the coming months. We have also received a certificate of authorization from Quebec's ministry of sustainable development, environment and climate change to increase the operating capacity of the Camflo mill to 1,600 tonnes per day, allowing us to offer custom milling services to other prospective clients."
The technical and scientific content of this press release has been reviewed and approved by Marc-Andr Lavergne, Eng., the Corporation's qualified person under National Instrument 43101.