Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Monarques Gold Corp. of Montreal saw visible gold in 12 of the first 41 holes drilled to date at its McKenzie Break deposit 35 km north of Val d’Or. One of those holes returned a bonanza of 265.00 g/t gold over 0.6 metre.
The second set of results, while not that high, still qualify for the “high grade” category:
Monarques purchased the McKenzie Break property from Agnico Eagle in December 2017. The pre-feasibility study of January 2018 included indicated pit resources of 939,960 tonnes at 1.59 g/t gold for 48,133 oz. and indicated underground resources of 281,739 tonnes at 5.90 g/t gold for 53,448 oz. (No inferred resource was mentioned.)
This article first appeared in the Canadian Mining Journal.
