Tillkännagivande • Nov 17
Monarch Mining Corporation Announces Executive Changes Monarch Mining Corporation announced that Investissement Québec has filed an application with the Superior Court of Quebec under the Companies' Creditors Arrangement Act to place the Corporation under the protection of the CCAA. The Court has issued an initial order under the CCAA in relation to the Corporation. PricewaterhouseCoopers Inc. has been appointed as the monitor to oversee the activities of the Corporation during the CCAA process. Mmes. Laurie Gaborit, Guylaine Daigle, and Messrs. Michel Bouchard and Benoit Desormeaux have resigned from their positions as directors with immediate effect as of November 15, 2023. Mr. Jean-Marc Lacoste will continue to serve as a director and collaborate with IQ and the Monitor in the implementation of the Court approved process to solicit investment and sale proposals in respect of the Corporation. Tillkännagivande • Oct 14
Monarch Mining Corporation, Annual General Meeting, Dec 21, 2023 Monarch Mining Corporation, Annual General Meeting, Dec 21, 2023. Tillkännagivande • Sep 29
Monarch Mining Corporation Reports Impairment Charges for the Fourth Quarter Ended June 30, 2023 Monarch Mining Corporation reported impairment charges for the fourth quarter ended June 30, 2023. For the quarter, the company reported impairment of property, plant and equipment was CAD 15,000,000 against CAD 13,000,000. Impairment of mining property and exploration and evaluation assets was CAD 8,958,087. Tillkännagivande • Jul 29
Probe Gold Inc. (TSX:PRB) acquired Croinor Gold Property in Val-d’Or, Quebec, Canada from Monarch Mining Corporation for CAD 4.5 million. Probe Gold Inc. (TSX:PRB) entered into a definitive agreement to acquire Croinor Gold Property in Val-d’Or, Quebec, Canada from Monarch Mining Corporation for CAD 4.5 million on July 12, 2023. Pursuant to the Agreement, the Company will acquire a 100% interest in the Property for aggregate consideration of $4.5 million, payable at the closing of the acquisition in a combination of cash and common shares of the Company, as follows: (i) Probe will issue to Monarch that number of common shares of the Company that is equal to $2.5 million based on a 10-day volume weighted average price (VWAP) of Probe’s common shares on the Toronto Stock Exchange; and (ii) Probe will pay Monarch $2 million in cash. In addition, Probe will assume any reclamation liabilities associated with the past-producing Croinor mine. The transaction is subject to receipt of all necessary regulatory and other approvals, including that of the Toronto Stock Exchange, and the satisfaction of other customary closing conditions. The closing of the transaction is expected to close in the coming weeks.
Probe Gold Inc. (TSX:PRB) completed the acquisition of Croinor Gold Property in Val-d’Or, Quebec, Canada from Monarch Mining Corporation on July 28, 2023. Tillkännagivande • Jul 14
Probe Gold Inc. (TSX:PRB) entered into a definitive agreement to acquire Croinor Gold Property in Val-d’Or, Quebec, Canada for CAD 4.5 million. Probe Gold Inc. (TSX:PRB) entered into a definitive agreement to acquire Croinor Gold Property in Val-d’Or, Quebec, Canada for CAD 4.5 million on July 13, 2023. Pursuant to the Agreement, the Company will acquire a 100% interest in the Property for aggregate consideration of $4.5 million, payable at the closing of the acquisition in a combination of cash and common shares of the Company, as follows: (i) Probe will issue to Monarch that number of common shares of the Company that is equal to $2.5 million based on a 10-day volume weighted average price (VWAP) of Probe’s common shares on the Toronto Stock Exchange; and (ii) Probe will pay Monarch $2 million in cash. In addition, Probe will assume any reclamation liabilities associated with the past-producing Croinor mine. The transaction is subject to receipt of all necessary regulatory and other approvals, including that of the Toronto Stock Exchange, and the satisfaction of other customary closing conditions. The closing of the transaction is expected to close in the coming weeks. Tillkännagivande • Jul 13
Monarch Mining Corporation Expands Size of Mckenzie Break to 1,100 M by 700 M with Latest Drilling Results Monarch Mining Corporation reported additional results from the 2022 drilling program on its wholly-owned McKenzie Break gold project, located 25 kilometres north of the Corporation’s wholly owned Beacon mill. The 2022 drilling program on the McKenzie Break property totaled 16,104 metres in 53 holes. Today, Monarch is reporting the results from the remaining 16 holes totalling 5,950 metres. Some assays are still pending for one of the holes (MK-22-362). The drilling program was aimed at expanding the size of the 2021 mineral resource estimate (“2021 MRE”), including the current pit shell in the up-dip direction (to the west and south), and the underground resource to the east and north. The mineralized envelope has increased and now measures 1,100 metres by 700 metres and has been tested down to a maximum vertical depth of 400 metres. Recent results have defined broad zones of mineralization, including 1.26 g/t Au over 23.6 m, followed by another zone 47 m down the hole with 1.41 g/t Au over 17.3 m (MK-22-349). This drill hole is located approximately 35 metres beyond the southeast limit of the pit shell defined in the 2021 MRE. Notable high-grade mineralization was recently identified between two of the larger mineral resource blocks that were defined in the 2021 MRE. This included 10.12 g/t Au over 1.73 m and 11.91 g/t Au over 1.84 m, both hosted in hole MK-22-350. These intersections confirm the high-grade nature of the gold mineralization in this area. The most northeasterly holes of the program continue to show encouragement and that the mineralization continues and is very much open in the downdip direction. Better intersections currently being reported included 5.90 g/t Au over 2.12 m (MK-22-361), 2.63 g/t Au over 1.87 m (MK-22-364) and 12.40 g/t Au over 1.52 m (MK-22-377). Drilling results to expand the pit shell up dip and to the west were positive and included 5.29 g/t Au over 1.63 m and 9.19 g/t Au over 0.66 m (MK-22-379) in the northwest part of the pit shell. The results of the southwest pit shell expansion were also positive with 2.50 g/t Au over 3.0 m (MK-22-340) and 1.09 g/t Au over 5.75 m (MK-22-341). Intersections in both of these areas show a strong probability that the pit shell can be expanded updip to the west. Several holes were drilled within the limits of the proposed pit shell in order to fill in the larger gaps between the previous drill holes. Best intersections included 12.7 g/t Au over 0.91 m, 7.61 g/t Au over 2.71 m and 11.2 g/t Au over 1.27 m (all within MK-22-368) and 3.67 g/t Au over 2.45 m and 2.78 g/t Au over 5.29 m in hole MK-22-369. Since the publication of the 2021 MRE by Geologica and GoldMinds, Monarch drilled a total of 41,465 m in 121 drill holes. The holes are relatively shallow and were primarily drilled at the outer edge of the proposed pit shell limits and in the area of the underground mineral resource blocks. This drilling has confirmed that the pit shell and underground mineral resource can be expanded beyond the limits defined in the 2021 MRE. Tillkännagivande • May 25
Monarch Continues to Intersect Broad Zones of Mineralization on Swanson, with 0.65 G/T Au over 193.4 M (634.5 Ft) Including 7.55 G/T Au over 4.05 M (13.3 Ft) MONARCH MINING CORPORATION reported the results of the last six holes from the 2021-22 drilling program, which totalled 11,194 metres in 31 holes, on its wholly-owned Swanson gold project, located 50 kilometres north of the Corporation's wholly owned Beacon mill. The drilling program was aimed at expanding the 2021 mineral resource estimate. The mineralized envelope currently measures 300 metres by 150 metres and has been tested down to a vertical depth of 430 metres and remains open to the east and at depth. The most significant intersection was in hole SW-22-029, with 0.65 g/t Au over an impressive 193.4 m, including several higher grade sections of 4.80 g/t Au over 1.55 m, 7.55 g/t Au over 4.05 m, 2.17 g/t Au over 4.90 m, 3.11 g/t Au over 4.7 m and 2.80 g/t Au over 2.05 m. This wide corridor of mineralization was intersected within and below the proposed pit shell and extends to a vertical depth of 230 m below surface. Drill hole SW-22-030 identified a near-surface exposure of the footwall zone with an intersection of 1.19 g/t Au over 6.0 m. This intersection is located outside and to the southeast of the proposed pit shell. Hole SW-22-031, located 75 m to the northeast of the deposit and current wireframes, intersected 4.26 g/t Au over 0.55 m, confirming that the mineralization is still open to the east. Additional anomalous intersections below the pit shell were also encountered in hole SW-22-005ext, which returned assays of 2.23 g/t Au over 1.1 m and 9.85 g/t Au over 1.3 m. Since the publication of the 2021 MRE by InnovExplo, Monarch has drilled a total of 11,194 m in 31 drill holes. The holes are relatively shallow and were primarily drilled at the outer edge of the proposed pit shell limits and at depth in the area of the underground mineral resource blocks. The results from this drilling program has confirmed that the pit shell and underground mineral resource can be expanded beyond the limits defined in the 2021 MRE. Drilling and Quality Control: Drill results are obtained by sawing the drill core into equal halves along its main axis and shipping one of the halves to ALS Canada in Val-d'Or, Quebec, for assaying. The samples are crushed, pulverized and assayed by fire assay, with an atomic absorption finish. Samples exceeding 3 g/t Au are re-assayed using the gravity method and samples containing visible gold are assayed using the metallic screen method. Monarch uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates. The technical and scientific content of this press release has been reviewed and approved by Louis Martin, P.Geo., the Corporation's qualified person under National Instrument 43-101. Tillkännagivande • May 11
Monarch Mining Corporation Reports Gold Assays from 13 Drill Holes of its 2022 MRE Monarch Mining Corporation reported additional results from the 2022 drilling program on its wholly- owned McKenzie Break gold project, located 25 kilometres north of the Corporation's wholly owned Beacon mill. The 2022 drilling program on the McKenzie Break property totaled 16,104 metres in 53 holes. Monarch is reporting the results from an additional 13 holes totaling 4,523 metres. Assays are pending for the remaining 17 holes of this drill program. The drilling program was aimed at expanding the size of the 2021 mineral resource estimate (2021 MRE), including the current pit shell in the up-dip direction (to the west and south), and the underground resource to the east and north. The mineralized envelope currently measures 1,100 metres by 600 metres and has been tested down to a vertical depth of 400 metres. The most significant intersection was found in hole MK-22-348, which returned 1.77 g/t Au over 31.0 m, including higher grade sections of 2.83 g/t Au over 15.6 m and 8.42 g/t Au over 3.0 m along the southeast limit of the current proposed pit shell. Drill hole MK-22-363, located at the northeast limit of the deposit, intersected 1.54 g/t Au over 14.91 m, including a high grade intercept of 9.09 g/t Au over 1.48 m. This hole confirms that gold mineralization remains open to the northeast. Drill hole MK- 22-342 intersected 1.33 g/t Au over 9.35 m from 8.0 m to 17.35 m down the hole, confirming the near-surface gold mineralization continuing to the south. The drill hole is located 70 metres south of the pit shell limit and demonstrates the potential to extend the pit shell to the south and southwest. Drill hole MK-22 -367 intersected 8.54 g/T Au over 1.40 m and 8.99 g/t Au over 1.,0 m. Since the publication of the 2021 MRE by Geologica and GoldMinds, Monarch drilled a total of 41,465 m in 121 drill holes. The holes are relatively shallow and were primarily drilled at the outer edge of the proposed pit shell limits and in the area of the underground mineral resource blocks. This drilling has confirmedthat the pit shell and underground mineral resource can be expanded beyond the limits defined in the 2021 MRE. Tillkännagivande • Feb 14
Monarch Mining Corporation announced that it has received CAD 4.119932 million in funding from Alamos Gold Inc. and other investors On February 13, 2023, Monarch Mining Corporation closed the transaction. The company has issued 700,000 common shares for gross proceeds of CAD 45,500 in its final tranche. The company has received gross proceeds of CAD 4,119,932 in the transaction. The transaction included participation from Director of the company for 400,000 shares for gross proceeds of CAD 26,000. All securities issued pursuant to the second tranche are subject to a restricted period of four months and a day, ending on June 11, 2023.