The Swanson property is an advanced exploration property located approximately 12 kilometers northeast of Barraute, Québec along the northern part of the Abitibi Greenstone. Swanson was previously owned by Agnico Eagle Mines Limited until it was sold to Monarch Gold Corporation in December 2017 and ultimately spun out into Monarch Mining Corporation.
(“Monarch”) in January 2021, which is now the sole owner and operator. Swanson is proximal to Monarch’s Beaufor mine and McKenzie Break property located just north of both assets.
In August 2022, Monarch completed its drill program at Swanson for a total of 11,277 meters within 31 holes. The deepest, most easterly down-plunge hole intersected 7.83 g/t Au over 8.82 meters over multiple gold-bearing zones within a wide mineralized corridor that has been traced to a vertical depth of 430 meters. Drilling throughout 2022 supported Monarch’s ability to extend mineralization beyond the current MRE and provides additional comfort to Gold Royalty’s coverage over the property.