LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) is preparing to move from exploration and development to final execution of its gold production strategy at its sites in the renowned Abitibi Greenstone Belt of eastern Canada. The company recently released results of a positive Preliminary Economic Assessment (PEA) guiding its robust production plans for the Swanson Gold Deposit.
The Swanson Gold Deposit has an updated indicated and inferred mineral resource estimate of 227,000 ounces of contained gold. With gold’s meteoric rise from around $2,000 per ounce four years ago to the market demand price of around $5,000, the opportunity for LaFleur strengthens once production begins.
LaFleur Minerals is preparing for a restart of production from its sites in the Abitibi greenstone belt, one of the most prolific Archean belts in the world. The company's PEA completed this month for the Swanson Gold Deposit in Québec shows a capital-efficient project with strong economics by leveraging the company’s 100%-owned and refurbished Beacon Gold Mill. At a base case gold price of US $2,750/oz, the PEA forecasts an after-tax IRR of 65%, C$101 million NPV (5%), a 1.8-year payback, and all-in sustaining costs of US $1,569/oz, positioning the company for a robust restart of gold production by year end.
“As we prepare for pre-operational tests and system checks at the Beacon Gold Mill in the coming months, we are transitioning from pure exploration and development to gold production execution,” LaFleur Chief Executive Officer Paul Ténière stated. This transition marks a significant milestone for the company as it aims to become a near-term gold producer.
All scientific and technical information 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. For the latest news and updates relating to LFLRF, visit the company’s newsroom at https://ibn.fm/LFLRF.
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