{"id":1121712,"date":"2019-06-18T18:11:34","date_gmt":"2019-06-18T18:11:34","guid":{"rendered":"https:\/\/www.mining.com\/?p=994054"},"modified":"2019-06-18T18:11:34","modified_gmt":"2019-06-18T18:11:34","slug":"monarch-gold-to-buy-fayolle-property-from-hecla-jv","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1121712","title":{"rendered":"Monarch Gold to buy Fayolle property from Hecla JV"},"content":{"rendered":"

Monarch Gold Corp. (TSX: MQR) today announced the signing<\/a> of a letter of intent to acquire the Fayolle property from Hecla Quebec Inc., formerly known as Aurizon Mines Ltd. and now a subsidiary of Hecla Mining Company (NYSE: HL), and its partner Typhoon Exploration Inc. (TSXV: TYP). Hecla currently owns the Casa Berardi underground mine in western Quebec, one of the top gold mines<\/a> in Canada.<\/p>\n

The Fayolle property covers 1,373 hectares of land comprising 39 mineral claims in Aiguebelle and Cl\u00e9ricy townships, Quebec, approximately 35 km northeast of Rouyn-Noranda. It encompasses multiple gold showings including the Fayolle deposit that was discovered in 1958.<\/p>\n

According to a mineral resource estimate<\/a> provided by Typhoon in 2012, the Fayolle deposit contains indicated resources of 548,500 tonnes grading 5.75 g\/t gold, for a total of 101,326 ounces of gold.<\/p>\n

As part of the transaction, Monarch will issue 12 million shares at C$0.25 each (total value of C$3 million) to Hecla to acquire Hecla’s 50% interest in the property. For the remaining 50% interest, Monarch will pay C$1.15 million as well as issue 3.4 million shares at C$0.25 each (total value of C$850,000) – for total proceeds of $2 million – to Typhoon.<\/p>\n

The potential acquisition of Fayolle property will add to Monarch’s existing portfolio of four advanced-stage gold projects and five other exploration-stage projects in the province of Quebec.<\/p>\n","protected":false},"excerpt":{"rendered":"

Monarch Gold Corp. (TSX: MQR) today announced the signing of a letter of intent to acquire the Fayolle property from Hecla Quebec […]<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1121712"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1121712"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1121712\/revisions"}],"predecessor-version":[{"id":1121767,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1121712\/revisions\/1121767"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1121712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1121712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1121712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}