Disseminated on behalf of LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) and may include paid advertising.
- LaFleur Minerals has published the results of recent diamond core drilling assays, providing infill to eliminate gaps in the previously existing resource model and demonstrate strong gold continuity across the company’s Swanson Gold Deposit and broader, district-scale Swanson Gold Project
- The Swanson Gold Project is located at the eastern edge of the renowned Abitibi Greenstone Belt in Canada, containing 445 mineral claims and one mining lease and spanning more than 18,000 hectares (about 44,500 acres)
- LaFleur is preparing to release a Preliminary Economic Assessment (“PEA”) in the next month, outlining potential economics of the Swanson Gold Project as key source of mineralized feed for nearby Beacon Gold Mill
- The company is also preparing to begin a production restart of its wholly owned 750 tpd Beacon Gold Mill located near the Swanson site, anticipating Swanson will serve as a long-term source of mill feed creating a vertically integrated mine-to-mill model
- Gold struck a price record near $5,600 in late January after seeing a one-year gain of 95.6%, well above the $1,800-$2,000 an ounce level it was trading at when the Beacon Gold Mill’s previous owner ceased operations in 2022
Canadian gold explorer and near-term producer LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) announced drilling assay results that confirm strong gold continuity across its Swanson Deposit footprint, strengthening the excitement over Swanson as a scalable, district-scale gold asset with high-grade potential located in an already high-yielding gold exploration region.
The assay results come from 12 validation drill holes at the gold deposit as well as 28 exploration drill holes on the larger Swanson Gold Project where the gold deposit is located. They form a large part of the 60 drill holes completed during the past year over 16,592 meters on the project, providing “compelling technical information” that will eliminate gaps in the previously existing resource model by connecting established mineralized zones (https://ibn.fm/VDWll).
Gold has repeatedly struck new record price territory in market trading during the past year, briefly nearing $5,600 an ounce in late January with a one-year gain of 95.6% before a bout of volatility that followed dollar-optimism news (https://ibn.fm/nmkK9). The huge rise in precious metal prices as well as the potential for volatility underscore the importance of LaFleur’s wholly owned and recently upgraded Beacon Gold Mill, located proximate to the Swanson site.
The Beacon Gold Mill is nearing production restart with expectations that the Swanson Gold Project will serve as a long-term source of mill feed, but that other explorers in the nearby region may find the possibility of custom milling options attractive as well.
The Beacon Gold Mill is currently capable of processing 750 metric tons per day of ore utilizing its crushing, grinding, flotation, regrind, leaching and Merrill‑Crowe circuits, and the company now is evaluating capacity expansion across two scenarios: at ~1,000 tpd and 3,000-4,000 tpd over the longer term. The Swanson Gold Deposit within the Swanson Gold Project is located at the eastern edge of the renowned Abitibi gold belt in Val d’Or, Quebec, a key mining hub. The Abitibi Belt has enjoyed a reputation as unrivaled in terms of gold production, accounting for more than 300 million ounces historically when current reserves are factored in (https://ibn.fm/SctkZ).
LaFleur’s drilling within the larger Swanson Gold Project but outside the Swanson Gold Deposit shows the potential of additional open-pit gold recovery across the 33-km strike length of the project, which includes 445 mineral claims and one mining lease. The virtue of the intercepts is highlighted by findings of 2.05 g/t Au over 158.25 meters, with narrow high-grade results including 121.0 g/t Au over 1.1 meters.
The results provide a basis for estimating the deposit’s scale, continuity, and economic relevance, and materially strengthens confidence in both the geological model and the project’s development pathway, according to the company’s statement.
The results will serve to strengthen the Preliminary Economic Assessment (“PEA”) expected to be released in the next month.
While diamond drilling continues in the area of the Swanson Deposit, additional regional exploration is focusing on the southeast and east parts of the property, particularly around the Jackson Showing located approximately 6.2 km to the southwest of the Swanson Deposit. The company will be looking to determine if its shallow deposit could represent a viable satellite deposit capable of providing additional feed to the Beacon Gold Mill.
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://ibn.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 Advisor of the company and considered a Qualified Person for the purposes of NI 43-101.
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