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Canada
Fayolle Project

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 Location:
25 km NE from Rouyn-Noranda, Quebec, Canada

  Project Contacts:
401 Bay Street, Suite 3200
Toronto
Ontario, Canada
M5H 2Y4
Phone  ...  Subscription required
Fax416-360-4750
EmailEmail
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Processing
  • Smelting
  • Carbon re-activation kiln
  • Centrifugal concentrator
  • Gravity separation
  • Shaker table
  • Filter press plant
  • Agitated tank (VAT) leaching
  • Carbon in leach (CIL)
  • Carbon in pulp (CIP)
  • Merrill–Crowe
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)
Mine Life2024
The permitting process, environmental studies and sampling have commenced on the Fayolle property.
Latest NewsMonarch Gold Announces The Closing of The Sale of The Fayolle Property to IAMGOLD     June 8, 2020


Owners

Source:
CompanyInterestOwnership
IAMGOLD Corp. 100 % Indirect
June 8, 2020 - Monarch Gold Corporation is pleased to announce the closing of the sale of the Fayolle property to IAMGOLD Corporation ("IAMGOLD") (TSX: IMG) (NYSE: IAG) for a total consideration of $11.5 million.

Deposit Type

  • Intrusion related
  • Porphyry
  • Breccia pipe / Stockwork


Summary:

Intrusion-associated disseminated sulphide mineralization is commonly found along the PDMFZ and, as its name implies, is spatially related to porphyritic intrusions. Two areas have a large number of these mineralized zones: the periphery of the Duparquet basin and the Fayolle deposit area. Two subtypes have been identified based on intrusion composition: calc-alkaline and alkaline (Legault et al., 2006). The Fayolle occurrence has been described in the past as a calc-alkaline quartz-feldspar porphyry (QFP) or feldspar-porphyry (FP) intrusion-related disseminated sulphide deposit (Legault et al., 2006). However, the newly geological understanding of the Fayolle deposit differs from this earlier description.

The Fayolle deposit is characterized by the komatiite flows of the Lanaudiere Formation (Goutier, 1997) intruded by a swarm of quartz-feldspar porphyry and/or feldspar porphyry dykes. A post-intrusive brecciation event seems to control gold deposition. The breccia zones mostly affect the ultramafic flows, but also locally contain felsic dyke fragments.

The northern part of the Fayolle Property is underlain primarily by the Lanaudière Formation, which corresponds to the summit of the Kinojevis Group. Basalt is the dominant rock type, and basalt layers are intercalated with felsic and ultramafic rocks. Also observed are ultramafic flows, magnesian basalt, and komatiite characterized by breccia, cumulates and spinifex texture. The east-trending Manneville North Fault bifurcates as it passes through this part of the Property, placing a wedge of the Lac Caste Formation of the Kewagama Group into faulted contact with the Lanaudière Formation along the north and south sides of the fault. The Lac Caste Formation comprises bands of turbiditic sedimentary rocks, consisting of beds of sandstone and mudrock with black siliceous argillic horizons.

The roughly central part of the Fayolle Property is underlain, from north to south, by the Lac Caste Formation of the Kewagama Group and the Malartic Group. The faulted contacts between these formations and with the Lanaudière Formation to the north represent bifurcations of the Manneville South Fault. The Malartic Group is composed of ultramafic flows, andesite and intrusions. The southernmost and westernmost ends of the Property are occupied by the Mont-Brun Formation, which represents a central band of turbiditic sediments within the Kewagama Group. This formation is composed of pale grey sandstone and grey mudrock representing thin beds deposited by turbidity currents. The contact between the MontBrun Formation and the volcanic units of the Malartic Group is marked by the southeasttrending La Pause Fault.

Several gold occurrences are present on the Fayolle Project. They all occur along interfaces marked by strong magnetic contrasts, which are evident on local and regional magnetic maps. The most important known occurrence is the Fayolle gold deposit for which resources have been estimated (refer to Section 14: Mineral Resource Estimates). Other gold occurrences of the Project remain within less than 1 km from the Fayolle deposit.

The Fayolle deposit comprises wide alteration zones that contain brecciated mineralized zones. Gold mineralization is hosted in porphyritic dykes of intermediate composition and in volcanic rocks (Gaudreault and Beauregard, 2009). The main lithology intersected in drill hole is magnetic komatiite. Locally, primary volcanic textures, such as varioles and spinifex, are observed beyond the mineralized zones (Carrier, 2007). Spinifex texture was observed in komatiites, whereas the varioles suggest that mafic volcanic rocks are intercalated with the komatiites. Most examples of varioles from the southwestern Abitibi Subprovince are plagioclase spherulites, which are always found in aphyric tholeiitic basalts inferred to have been superheated during eruption (Arndt and Fowler, 2004). The volcanic rocks of the Fayolle deposit are intruded by dykes ranging from monzonitic to dioritic and/or granodioritic composition. The rocks are generally brecciated with little clast rotation and cemented with ankerite.

Most of the ankerite and quartz-ankerite veins occur in brecciated rocks. Several ankerite and quartz ankerite veins, 0.5 to 2 cm wide, as well as chlorite-filled fractures and gouge with irregular orientations, have been observed within and near the mineralized zones. Vein density increases from 5% to 80% in the mineralized zone, and fuchsite alteration is locally observed.

Mineralization is characterized by disseminated pyrite (generally 1-5%) spatially associated with or contained within veinlets of quartz and/or carbonate minerals. Gold is present in the pyrite or as grains of free gold in quartz veinlets. Pyrite is generally found as pods and fine-grained disseminations along schistosity planes and chloritized fractures which are variably deformed at dyke contacts. Pyrite also occurs as barren cubic grains (up to 12%) in the host rocks, and pyrite content is therefore not a direct indicator of gold mineralization in the Fayolle deposit (Carrier, 2007).


Mining Methods

  • Truck & Shovel / Loader


Summary:

According to InnovExplo, the conventional open pit option is the better way to successfully mine the deposit and extract the most resources while minimizing the economic risk.

Mining will be undertaken by contractors using conventional truck and shovel equipment.

Overburden removal equipment:
- 1 Caterpillar 365 hydraulic excavator
- 4 Caterpillar 735 trucks
- 1 Caterpillar D6 dozer
Production equipment:
- 1 Caterpillar 385 hydraulic excavator
- 4 Caterpillar 770 trucks
- 1 Tamrock DX-800 drill
- 1 Caterpillar D7 dozer


Crushing and Grinding
Flow Sheet: Source

Ore Handling and Crushing
Underground ore is hoisted to surface and hauled by truck to the processing facility located 2.5km from the mine shaft. The ore is discharged at the crusher house. The ore is fed to a single stage jaw crusher (1.07 x 1.22m) by a front-end loader through a grizzly feeder. The ore is conveyed to the mill ore bins using a belt conveyor system. Each bin has a capacity of 2,800dmt.

Grinding and Gravity
Grinding of the Westwood ore is done using a 2,700HP semi-autogenous grinding (SAG) mill in closed circuit with primary hydrocyclones. The overflow of primary hydrocyclones feeds a 1,000-HP ball mill in closed circuit with its secondary hydrocyclones. A portion of the underflow (secondary hydrocyclones) feeds the gravity separation circuit composed of a sweco screen, Knelson concentrator (30’’) and a shaking table. The tail of the gravity circuit returns to the grinding circuit and the gravity gold concentrate goes to the refinery. The targeted grind size is 80% passing 53 microns (270 mesh).


Processing

  • Smelting
  • Carbon re-activation kiln
  • Centrifugal concentrator
  • Gravity separation
  • Shaker table
  • Filter press plant
  • Agitated tank (VAT) leaching
  • Carbon in leach (CIL)
  • Carbon in pulp (CIP)
  • Merrill–Crowe
  • Solvent Extraction & Electrowinning
  • Cyanide (reagent)

Flow Sheet: Subscription required

Summary:

The mineralized material would be transported and processed off-site at IAMGOLD’s Westwood mill. This assumption was established for the purpose of estimating milling and transportation costs. The distance separating the Fayolle Project from Westwood is 40 km.

Leaching and Adsorption
The leaching circuit has 55 hours of retention time at the nominal processing rate of 3,106tpd. Leach residue is sent to cyanide destruction. At the nominal processing rate, retention time for each step of the leach and adsorption process is detailed as follows: primary leach tanks (4.7 hours), carbon-in-leach (CIL) tanks (6.6 hours), secondary leach tanks (31.3 hours) and carbon-in-pulp (CIP) tanks (12.1 hours).

Cyanide Destruction
The tailings are treated with SO2/Air cyanide destruction process. The leaches residues are split between to parallel detox reactors. In normal operation, a part of the process discharge residues is used to feed the paste backfill plant while the ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, % 94
Gold Head Grade, g/t 4.35

Projected Production:

CommodityUnitsLOM
Gold oz 74,813
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio 3.7 *
Daily ore mining rate 1,000 t *
Annual mining capacity 350,000 t *
Waste tonnes, LOM 2,092,148 t *
Ore tonnes mined, LOM 568,941 t *
Total tonnes mined, LOM 3,937,889 t *
* According to 2013 study.

Reserves at August 30, 2019:
Cut-off grades of 0.9 g/t Au (in-pit) and 2.2 g/t Au (underground)

CategoryOreTypeTonnage CommodityGradeContained Metal
Indicated In-Situ (OP) 405,600 t Gold 5.42 g/t 70,630 oz
Indicated In-Situ (UG) 300,800 t Gold 4.17 g/t 40,380 oz
Indicated Total 706,400 t Gold 4.89 g/t 111,010 oz

2013 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 7% $M CAD  ......  Subscription required
After-tax NPV @ 7% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of March 28, 2013:
HME TypeModelQuantityLeased or
Contractor
Dozer ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 26, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Annual Information Form 2015
Preliminary Economic Assessment 2013
Subscription required - Subscription is required.

News:

NewsDate
Monarch Gold Announces The Closing of The Sale of The Fayolle Property to IAMGOLD June 8, 2020
Monarch Gold Sells Fayolle to IAMGOLD for $11.5 Million June 1, 2020
Monarch Gold Intersects 3.33 G/T Au Over 109 Metres (358 Ft) at its Fayolle Gold Project April 30, 2020
Monarch Gold Files a Technical Report for its Fayolle Gold Project October 22, 2019
Monarch Gold Reports Results of New Mineral Resource Estimate for its Fayolle Gold Project September 10, 2019
Monarch Gold Intersects 50.94 g/t Au Over 2.70 Metres and 40.50 g/t Au Over 4.86 Metres at its Newly Acquired Fayolle Project September 5, 2019
Monarch Gold Announces the Closing of the Fayolle Gold Deposit Acquisition August 20, 2019
Monarch Gold Announces the Signature of Binding Letters of Intent for the Acquisition of the Fayolle Gold Deposit June 18, 2019

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