VANCOUVER, B.C. – January 27, 2025
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 Beacon Gold Mill
Key Highlights
- The Swanson Gold Deposit hosts:
- Indicated Mineral Resource:
- 2,113,000 t with an average grade of 1.8 g/t gold, containing 123,400 oz of gold.
- Inferred Mineral Resource Estimate:
- 872,000 t with an average grade of 2.3 g/t gold, containing 64,500 oz of gold.
- (Source: NI 43-101 technical report, effective September 17, 2024, filed on the Company’s SEDAR+ profile).
- Indicated Mineral Resource:
- The deposit is located within 50 km of the Company’s Beacon Gold Mill, which:
- Is fully permitted.
- Underwent approximately $20,000,000 in upgrades during 2021–2022 by its previous owner.
- Is being evaluated for processing mineralized material from Swanson as part of a high-level preliminary mining and economic study.
Recent Exploration Activities
- High-resolution airborne magnetics and VLF-EM geophysics program:
- Completed over the entire Swanson Gold Deposit, with results from Novatem Inc. currently being interpreted.
- Final results will be disclosed once interpretation is complete.
- Oriented soil geochemistry and prospecting program:
- Conducted by IOS Géosciences (IOS), with final assay results pending.
- Induced Polarization (IP) – Resistivity Ground Geophysics Survey:
- A total of 166 line-km will be surveyed between January and February 2025 at 200 m line spacings.
- This will cover the Swanson, Bartec, and Jolin deposits, all of which are 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.
- The first tranche of a non-FT financing with gross proceeds of $175,019.70.
These funds will support exploration and drilling programs at the Swanson and Beacon deposits.
Planned Exploration and Development
- Drill Target Definition:
- Results from recent geophysics and soil programs will define multiple drilling targets along interpreted major structural breaks at Swanson.
- The goal is to increase mineral resources to well over 1 million contained gold ounces.
- Diamond Drilling Program:
- Up to 10,000 m of drilling is expected to commence in early to mid-2025, once targeting exercises are complete and drilling permits are obtained from the Québec government.
- Preliminary Mining and Economic Studies:
- High-level study results for Swanson and Beacon are expected in Q1-2025.
- These will guide plans for advancing the deposits to a Pre-Feasibility Study (PFS) in 2025 and commencing production at Swanson.
- Beacon Mill Restart:
- Planning has begun to restart the Beacon Gold Mill, which has been under care and maintenance since early 2023.
- The mill is capable of processing 750 tonnes per day, and the Company is working with ABF Mines to develop a restart plan, including:
- Maintenance and repairs.
- Potential upgrades to increase production.
- Staffing considerations.
CEO Comment
Paul Ténière, CEO of LaFleur Minerals, stated:
“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 while simultaneously restarting the Beacon Mill to process mineralized material. 2025 is expected to be a transformational year for LaFleur Minerals as we advance towards production.”
Figure 1: Gold Deposits and Mines
Gold deposits and mines within a 50 km radius of the Beacon Mill, including the 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 a Qualified Person as defined by 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.
Key Projects
- Swanson Gold Deposit:
- Over 15,000 hectares (150 km²) in size.
- Rich in gold and critical metals.
- Previously held by Monarch Mining, Abcourt Mines, and Globex Mining.
- Beacon Gold Mill:
- Fully permitted and capable of processing 750 tonnes per day.
- Being evaluated for custom milling and processing mineralized material from nearby gold projects.
The Swanson Gold Deposit is accessible by road, with a rail line running through the property, enabling direct access to nearby gold mills.
Contact Information
Paul Ténière, P.Geo.
Chief Executive Officer
Email: info@lafleurminerals.com
Address:
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains forward-looking statements, which are not historical facts. Such statements include but are not limited to the following:
- Expectations about financing, exploration, and production timelines.
- Potential increases in mineral resources and operational plans.
Key Risks
Factors that could cause actual results to differ materially include:
- Market conditions.
- Availability of capital and financing.
- Political, regulatory, and environmental risks.
Forward-looking statements are based on the Company’s management’s beliefs, estimates, and opinions on the date they are made. The Company assumes no obligation to update these statements unless required by applicable securities laws.
