LaFleur acquires nearby McKenzie East gold project in Québec
Canadian miner LaFleur Minerals has announced it will acquire the McKenzie East gold project, in Val-d’Or, Québec, from fellow Canadian miner First Atlas Resources Corporation for a consideration of C$30000 and 175000 shares.
The acquisition expands LaFleur’s portfolio in a prominent gold producing region near its existing operations.
The McKenzie East project comprises 46 mineral claims covering about 1 780 ha. The project is contiguous with the McKenzie Break Gold deposit owned by London-listed precious metals producer Fresnillo.
LaFleur plans to undertake systematic, aggressive exploration to define gold resources at McKenzie East, with the objective of advancing potential feed sources for its nearby Beacon Gold Mill.
The company also owns the nearby Swanson gold project, which continues to deliver strong drill results.
LaFleur’s exploration success at Swanson, combined with the addition of the McKenzie East project, reinforces the company’s strategy of systematically expanding its footprint while building gold resources within trucking distance of its wholly-owned Beacon Gold Mill.
“By advancing and consolidating multiple mineralized sources, including Swanson and McKenzie East, LaFleur is positioning itself to establish a scalable, district-focused production platform.
In addition, LaFleur is seeking to acquire other gold resources in the vicinity of the Beacon Gold Mill through merger and acquisition activity and has initiated initial target identification procedures with strategic advisors,” the company says.
This vertically integrated mine-to-mill approach is designed to maximize the value of existing infrastructure, supporting LaFleur’s near-term Beacon Gold Mill restart scenario, while building ounces surrounding the mill to enhance the company’s ability to generate sustainable gold production from the Val-d’Or district, and subsequently upgrade Beacon Gold Mill’s capacity
