Lafleur to begin drilling program at Swanson deposit

Executive Summary

• Lafleur Minerals Inc. has launched a 10-hole confirmation drilling program at its Swanson gold deposit to validate historical results and support a Preliminary Economic Assessment (PEA) for the restart of its Beacon gold mill.
• The Beacon mill, a 750 tonnes-per-day facility, is in the final stages of recommissioning following a $20-million modernization in 2022, with approximately 10,000 to 20,000 tonnes of mineralized stockpiles ready for initial trial runs.
• The company aims to complete the PEA as soon as assay results from the twinned holes are received in the coming weeks, positioning itself to transition rapidly from development to production.

Key Details

• Drilling Program: A 10-hole twinned-drilling campaign is underway at the Swanson gold deposit to validate historical results, improve geological model confidence, and supply core for ore-sorting and metallurgical testwork.
• Historical Context: Historical drilling at Swanson totals over 36,000 metres across 242 holes. Notable historical intervals include:
  • 69.3 metres at 3.03 grams per tonne Au (SW-03-07)
  • 51.0 metres at 3.46 g/t Au (BAR31-84)
• PEA Status: Environmental Resources Management (ERM) is completing the PEA for the Beacon mill restart. The new drilling data will feed directly into an updated mineral resource estimate.
• Beacon Mill Status:
  • Capacity: 750 tonnes per day.
  • Status: Fully permitted and undergoing final stages of recommissioning.
  • Recent Investment: Underwent a major $20-million modernization in 2022.
  • Upgrades: Includes mechanical/electrical upgrades and installation of a new gravity concentrator circuit.
  • Stockpiles: 10,000 to 20,000 tonnes of mineralized material are on-site for initial trial runs.
  • Staffing: Recruitment is underway for mill management, maintenance, and plant operators.
• Strategic Positioning: The company highlights the proximity of the Swanson deposit to the Beacon mill within the Abitibi greenstone belt, noting record gold prices above $4,000 per ounce as a key economic driver.

Notable Quotes

• "Advancing the Beacon gold mill to restart gold production with gold prices at record levels above $4,000 per ounce offers amazing economic potential," said Lafleur Minerals chief executive officer Paul Teniere.
• "We are well under way to completing a comprehensive PEA for the restart of the Beacon gold mill and at the suggestion of ERM, we are nearing completion of twinning historical holes that form the basis of the mineral resource at our Swanson gold deposit, with the intention to supply mineralized material from Swanson to the Beacon gold mill. We aim to have the PEA completed as soon as assay results on the twinned holes are received in the coming weeks."