LaFleur Minerals (CSE: LFLR) (OTCQB: LFLRF) has announced new drill results from its Swanson Gold Project in the Abitibi Greenstone Belt of Quebec, Canada, that significantly expand the known mineralization zones and point toward a district-scale gold discovery. The company reported intercepts including 1.18 g/t Au over 255.04 meters in hole SW-25-080, 1.65 g/t Au over 136.01 meters in SW-25-081, and 2.29 g/t Au over 68.30 meters in SW-25-079. These results confirm that the Swanson mineralized system remains robust and laterally continuous well beyond the limits defined in the company’s March 2025 mineral resource estimate (MRE).
In March, LaFleur announced a 30% increase in indicated mineral resources from its 2024 MRE, establishing a new MRE of 2.96 million tonnes at 1.69 g/t Au for 160,300 ounces of contained gold, plus an inferred resource of 1.08 million tonnes. The new drill holes targeted down-dip continuity over a 120-metre strike length at vertical depths of approximately 300 to 450 metres, successfully extending the resource envelope and demonstrating the deposit's potential for further growth.
The company owns the nearby Beacon Gold Mill and is preparing to resume operations later this quarter. Initial production will be sourced from on-site stockpiles and mineralized material from Swanson, with a plan to scale from 750 metric tons per day (TPD) to 1,250 TPD by 2027, and eventually toward 3,000 or 4,000 TPD. This expansion is supported by financing and offtake terms from Trafigura, a global commodity trading firm.
Located near Val d’Or, Quebec, the Swanson and Beacon properties sit within the prolific Abitibi Greenstone Belt, an established mining region with access to skilled labor and infrastructure. The district-scale potential of the Swanson discovery could have significant implications for LaFleur's near-term production profile and for the broader Abitibi region, which has historically hosted major gold deposits.
For investors, the expansion of the Swanson resource and the imminent restart of the Beacon Mill suggest that LaFleur is on a path to becoming a mid-tier gold producer. The company's ability to scale production from 750 TPD to over 3,000 TPD within a few years could substantially increase cash flow and shareholder value. Additionally, the ongoing exploration success indicates that the Swanson deposit may host much larger gold resources than currently estimated, which would further enhance the project's economics.
The qualified person for the technical information in this article is Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the company, as per NI 43-101 standards. The latest news and updates relating to LFLRF are available in the company’s newsroom at https://ibn.fm/LFLRF.
