Acquisition Date

2015 / Feb / 15
2012 / Dec / 07
2011 / Jan / 14*

Terms

0.5% NSR
0.5% NSR
3.9% NSR

Operator

Bonterra Resources Inc.

Moroy and Bachelor are greenstone hosted, structurally controlled alkalic-magmatic gold deposits located 225 km northeast of Val d’Or, Québec. The property contains the Bachelor Lake Mine, a historic underground gold mine that operated during the 1980’s and in 2004 underwent major renovations to the mine and mill infrastructure, including the installation of a carbon-in-pulp process plant.

The Bachelor Lake mine reached commercial production again in 2013 as a long-hole underground operation and the mined ore is processed at the Urban-Barry mill. The mill has a capacity of 800 tpd and has produced more than 210,000 ozs of gold since its commissioning. Gold recoveries have averaged between 96% and 98%. Bonterra plans to expand the Urban-Barry mill to increase its processing capacity to 2,400 tpd in order to accommodate ore from Moroy, Bachelor and Bonterra’s nearby Barry and Gladiator deposits.

The Moroy deposit is sub-parallel and south of the Bachelor deposit, dipping north towards the Bachelor trend. Development and drill programs are underway with more than 65,000 metres of surface and underground drilling completed to date. A Mineral Resource estimate for Moroy was published in June 2021 and contains 651 kt grading 5.7 g/t for 118,000 ounces of gold in the Measured and Indicated category and 570 kt grading 5.4 g/t for 98,000 ounces of gold in the Inferred category, based on a cut-off grade of 2.4 or 3.0 g/t.

Recent Activiy

June 2021

The Preliminary Economic Assessment of the Moroy deposit continues. The PEA contemplates utilizing the existing Bachelor Mill as a central processing facility. The PEA is expected to be complete in Q4 2021. The permitting process for expansion of the Bachelor mill to 2,400 tpd from the current 800 tpd is approximately 75% complete.

December 2020

The bulk sampling program at the Moroy deposit processed 11,093 tonnes of material at an average grade of 3.9 g/t gold. With an average recovery of 94.9%, the bulk sample produced 1,308 ounces of gold.

*amended Sept 18, 2017

 

Bachelor Lake

 

Moroy/Bachelor Royalty Map
Moroy/Bachelor Royalty Map