Gold-focused
Monarques Gold Corp. (
TSX: V.MQR,
Stock Forum) will be testing new technology that it hopes will “revolutionize” the underground mining of narrow ore bodies at shallow angles.
The Shallow-Angle Mining System (S.A.M.S.) technology, which has been trademarked by a Val-d’Or, Quebec company called Minrail, allows miners to extract ore from sloping surfaces of between 10 and 45 degrees with more precision than traditional methods.
Using an overhead double rail system, the technology also aims to replace current so-called “manual methods,” now considered obsolete, counter-productive and often dangerous by current standards.
Monarques would be deploying S.A.M.S. technology at its flagship Croinor gold project in Quebec, which it is hoping to put into production at an initial rate of 25,000 ounces annually.
For more details on S.A.M.S., please click on the link:
https://minrail.ca/en/
The company is hoping that since the project is fully permitted, with a pre-feasibility already completed, it can be fast-tracked to the production stage.
Croinor is part of a basket of properties that Monarques was able to acquire in late 2012, when it raised $3.5 million, just before the downturn in junior mining markets. The company says it also has $9.4 million in credits available from the Quebec Ministry of Energy and Natural Resources.
“What sets us apart is having an advanced stage project that is ready to go into production,’’ Monarques President and CEO Jean-Marc Lacoste
told Stockhouse recently during a Q& A interview.
In keeping with that goal, the company recently launched a definition drilling program at Croinor as a follow up to the pre-feasibility study.
“The main goal of the drilling is to increase the resource in the known zones, but we will also drill a number of geophysical and geological anomalies, including a number that have never been tested at depth and along the property’s lateral extensions,’’ Lacoste said in a February 10, 2015 press release.
Another goal is to establish sufficient resources to raise the production target to at least 30,000 ounces annually, the company has said.
The company has said it hopes to achieve substantial economies of scale during the mine development and operation phase through the use of the S.A.M.S. technology.
This is because the S.A.M.S. technology could deliver a reduction in the underground infrastructure required for excavations at an angle of between 40% to 60%.
Other promised benefits include:
Quicker access to ore, thus providing a higher project net present value.
An ability to achieve a thorough clean-up of the bench prior to production drilling.
S.A.M.S. is fully hydraulic, with a drilling capacity of up to 115 metres (diameter) and 25 metres in depth.
It can be operated with a wireless remote control, allows for horizontal and vertical parallel fan drilling, and makes stope backfilling possible in shallow angle stopes.
It helps mining companies achieve cost wise mine design, increased profitability, and increased investor confidence.
Monarques shares were unchanged Monday at 8 cents, leaving a market cap of $6.4 million, based on 79.9 million shares outstanding. The 52-week range is 14 cents and 8 cents.
FULL DISCLOSURE: Monarques Gold is a client of Stockhouse Publishing.