Monarch Gold (TSX: MQR) reported on Wednesday total assets of C$ 76,097,411 for the second quarter ended December 31, 2019.
The Canadian company said that undertook several strategic initiatives since the end of 2019 to develop the major mining projects in the mining camp in Quebec, including Wasamac, Beaufor, Croinor Gold, Fayolle and McKenzie Break, which represent combined resources of more than 3.5 million ounces of gold.
“In terms of exploration potential, results to date for McKenzie Break suggest that the property has excellent high-grade gold potential, and we have only just started to investigate its potential at depth. Based on the internal data collected since we started exploration, we consider that McKenzie Break could become a high-quality gold deposit,” said Jean-Marc Lacoste, president and chief executive officer of Monarch.