Monarch to implement four-phase work plan to process ore from the Wasamac gold property at the Glencore’s Kidd concentrator
Monarch Gold has signed MOU with Glencore Canada. (Credit: Gerd Altmann from Pixabay)
Canadian firm Monarch Gold has signed a memorandum of understanding (MOU) with Glencore Canada to process ore mined from Wasamac gold property located in the Province of Québec, at Glencore’s Kidd concentrator in Timmins, Ontario.
Under the terms of the MOU, Monarch will implement a four-phase work plan including upgrading study, negotiation and signing of a toll milling agreement, concentrator upgrading work, and performance of the toll milling services.
As part of the first phase, Monarch plans to launch a study on upgrading the concentrator and related infrastructure to ship the ore from the Wasamac property by railway. The ore will be processed and transformed into dore bars.
In the second phase, Monarch and Glencore will sign toll milling agreement, subject to receiving positive results of the upgrading study.
The third phase involves funding by Monarch to upgrade the concentrator and related infrastructure. Work is planned to be completed by the end of July 2023.
Under the fourth phase, subject to completion of concentrator upgrade work, Monarch will ship the ore from its Wasamac property to the concentrator before 31 December 2023, for processing.
Concentrator current processes metal ore to produce copper and zinc concentrates
Located on the property of the Kidd Metallurgical Site (Kidd Met Site), the concentrator currently processes metal ore to produce copper and zinc concentrates.
Fully permitted with water taking and discharge permits, the concentrator has a design rated capacity of 12,500 tonne-per-day. It has rail service via Ontario Northland Railway.
Last year, Monarch Gold divested its Simkar property to O3 Mining. The Simkar property is located 20km east of Val-d’Or and includes two mining concessions and 15 claims covering an area of 5km2.