LaFleur Minerals Provides Updates
on Exploration at Swanson Gold Deposit and Plans to Restart of
Beacon Gold Mill
VANCOUVER, B.C., Canada -- January
27, 2025 -- InvestorsHub NewsWire -- LaFleur Minerals Inc.
(CSE:
LFLR,
OTCQB: LFLRF) ("LaFleur Minerals" or the
"Company") is pleased to
provide an update on its 2025 exploration and development plans for
its 100%-owned Swanson Gold Deposit ("Swanson") and Beacon Gold Mill
("Beacon") located near
Val-d'Or, Québec in the Abitibi Gold Belt (Figure 1).
SWANSON GOLD
DEPOSIT AND FULLY PERMITTED BEACON GOLD MILL, VAL-D'OR, QUEBEC,
CANADA
The 100% Company owned Swanson Gold Deposit hosts an Indicated
Mineral Resource of 2,113,000 t with an average grade of 1.8 g/t
gold for 123,400 oz of contained gold and Inferred Mineral Resource
Estimate of 872,000 t with an average grade of 2.3 g/t gold for
64,500 oz of contained gold (source:
NI 43-101 technical report with an effective date of September 17,
2024 and filed on the Company's SEDAR+ profile).
Swanson Gold Deposit is located within 50 km of the Company's
Beacon Gold Mill, which is fully permitted and underwent
approximately $20,000,000 in upgrades from 2021-2022 by its
previous owner. The Beacon Mill is currently being evaluated for
processing mineralized material from the Swanson Gold Deposit as
part of a high-level preliminary mining and economic study.
The
Company recently completed a very high-resolution airborne
magnetics and VLF-EM geophysics program over the entire Swanson
Gold Deposit and the final processed results from Novatem Inc. are
currently being interpreted. The airborne geophysics results will
be disclosed once final interpretations are complete. An oriented
soil geochemistry and prospecting program was also completed by IOS
Géosciences (IOS) with final assay results still pending from the
laboratory.
An Induced Polarization (IP) - Resistivity ground geophysics survey
totalling 166 line-km will be completed from January to February
2025 at approximately 200 m line spacings and cover the Swanson,
Bartec, and Jolin deposits, which are all advanced gold targets
with current and historical mineral resources.
OVER $3M IN
FINANCINGS RECENTLY COMPLETED
The Company recently closed a $2,832,000 flow-through (FT)
financing and the first tranche of a non-FT financing with gross
proceeds of $175,019.70 and these funds will be spent on
exploration and drilling programs at its Swanson and Beacon
Deposits. The Company plans to complete the following exploration
and development programs in the coming weeks:
-
Results from the recent very
high-resolution airborne magnetics and VLF-EM geophysics program,
soil geochemistry and prospecting program, and upcoming IP ground
geophysics survey will be used to define multiple drilling targets
along interpreted major structural breaks at Swanson with the goal
to increase mineral resources to well over 1M contained gold
ounces.
-
Up to 10,000 m of diamond
drilling is expected to
commence at Swanson in early to mid-2025 once drill hole targeting
exercises are completed by the Company's technical team and
drilling permits have been obtained from the Québec
government;
-
High-level preliminary mining and
economic study results for Swanson and Beacon are expected in
Q1-2025 from independent mining consultants and will drive the
Company's plans to quickly advance these Deposits to a
Pre-Feasibility Study in 2025 to commence production at Swanson as
soon as possible. The Company is also evaluating other gold
Deposits and mineral resources located within a 50 to 100 km radius
of the Beacon Mill as potential mill feed in addition to the
Swanson and Beacon deposits; and
-
Planning work has commenced to
restart the Beacon Gold Mill, which has been under full care and
maintenance since early 2023 and is currently capable of processing
750 tonnes per day. The Company is working with local mining
services contractor ABF Mines to develop a restart plan, which
includes ongoing maintenance and repairs, potential upgrades to the
mill to increase production, and staffing
considerations.
Paul
Ténière, CEO of LaFleur Minerals commented, "We are excited about our 2025 strategic plans
that include aggressive exploration and drilling programs at the
Swanson and Beacon deposits now that we have completed just over
$3M in recent financings. Our immediate plan is to continue to
increase gold resources through diamond drilling at Swanson,
Bartec, Jolin, and other gold deposits and simultaneously
restarting the Beacon Mill to eventually process mineralized
material from the Swanson Gold Deposit and other deposits in the
Abitibi Gold Belt as soon as possible. 2025 is expected to be a
transformational year for LaFleur Minerals as we embark on an
aggressive path to production. In addition, to expanding our gold
resource at our Swanson Gold Deposit, we are looking to consolidate
other "gold ounces" within vicinity of our fully-permitted Beacon
Gold Mill."
Figure 1: Gold deposits and mines
within a 50 km radius of Beacon Mill including Swanson Gold Deposit
(in red)
Qualified Person
Statement
All scientific and technical information in this news release has
been prepared and approved by Louis Martin, P.Geo., Technical
Advisor to the Company and considered a Qualified Person for the
purposes of NI 43-101.
About LaFleur Minerals
Inc.
LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF) is focused on the
development of district-scale gold Deposits in the Abitibi Gold
Belt near Val-d'Or, Québec. Our mission is to advance mining
Deposits with a laser focus on our resource-stage Swanson Gold
Deposit and the Beacon Gold Mill and Property, which have
significant potential to deliver long-term value. The Swanson Gold
Deposit is over 15,000 hectares (150 km2) in size and
includes several prospects rich in gold and critical metals
previously held by Monarch Mining, Abcourt Mines, and Globex
Mining. LaFleur has recently consolidated a large land package
along a major structural break that hosts the Swanson, Bartec, and
Jolin gold deposits and several other showings which make up the
Swanson Gold Deposit. The Swanson Gold Deposit is easily accessible
by road with a rail line running through the property allowing
direct access to several nearby gold mills, further enhancing its
development potential. Lafleur Minerals' fully-refurbished and
permitted Beacon Gold Mill is capable of processing over 750 tonnes
per day and is being considered for processing mineralized material
at Swanson and for custom milling operations for other nearby gold
Deposits.
ON BEHALF OF LAFLEUR MINERALS INC.
Paul Ténière,
P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E
4N7
Neither the
Canadian Securities Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this news
release.
Cautionary Statement Regarding
"Forward-Looking" Information
This news release includes certain
statements that may be deemed "forward-looking statements".
Forward-looking statements in this news release include, but are
not limited to, statements about the Offering and the Company's
expectations with respect to the foregoing. Factors that could
cause future results to differ materially from those anticipated in
forward-looking statements in this news release include the tax
treatment of the FT Shares. All statements in this new release,
other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "Deposits", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, political and regulatory
risks associated with mining and exploration, risks related to
environmental regulation and liability. the potential for delays in
exploration or development activities or the completion of
feasibility studies, risks and uncertainties relating to the
interpretation of drill results, the geology, grade and continuity
of mineral deposits, risks related to the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses, results of prefeasibility and feasibility
studies, the possibility that future exploration, development or
mining results will not be consistent with the Company's
expectations, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those Deposited in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
