LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) has announced the start of a fully funded, 5,000-metre diamond drilling campaign at its Swanson Gold Project in Quebec, a move that underscores the company's commitment to advancing its gold exploration efforts. This initiative comes after the company secured all necessary drilling permits, including Forestry Intervention and Authorization to Intervene, ensuring compliance with environmental and regulatory standards.
The drilling program is set to explore priority targets within the Swanson Gold Deposit and other promising zones such as Bartec, Jolin, and Marimac. These areas have been identified through comprehensive geological and geophysical studies, including magnetic surveys, induced polarization (IP), and soil geochemistry analysis. For more details on the geological work, visit https://ibn.fm/KGilj.
In a related development, an independent valuation has estimated the replacement cost of the Beacon Gold Mill at over C$71.5 million, with rehabilitation and commissioning costs pegged at approximately C$4.1 million. This valuation presents a cost-effective pathway for LaFleur Minerals to achieve near-term production, leveraging existing infrastructure to minimize capital expenditures.
Furthermore, the company has expanded its land package to over 18,300 hectares, enhancing its district-scale potential in the Abitibi region, a area renowned for its rich gold deposits. This expansion, coupled with the ongoing drilling campaign and the Beacon Gold Mill's valuation, positions LaFleur Minerals as a promising near-term gold producer in Canada.
The implications of these developments are significant for investors and the mining industry at large. The initiation of diamond drilling at the Swanson Project not only advances LaFleur Minerals' exploration agenda but also contributes to the broader understanding of Quebec's gold potential. Meanwhile, the Beacon Gold Mill's valuation highlights the strategic advantage of rehabilitating existing mills over constructing new ones, offering a blueprint for cost-efficient production in the mining sector.
