Montreal-based Monarch Mining is set to produce first gold at the recommissioned Beaufor mine in Quebec this month.
"We have continued to lay the groundwork for recommissioning, which we completed in the third quarter at the Beaufor mine," chief executive Jean-Marc Lacoste said.
The company has mined and set aside 24,000 tonnes of ore for production at the Beacon mill, Lacoste said.
"That will mark the beginning of a new era for the Beaufor mine, with a new operating strategy to boost production capacity above the mine's historical production level while ensuring profitability," he said.
Measured resources at the Beaufor mine are 328,5000 tonnes at 5.7 g/t of gold for 59,900 ounces of gold, while indicated resources amount to 956,400 at 5.2 g/t of gold for 159,300 ounces.
The mine, located near gold mining region Val d'Or, was placed on care and maintenance in June 2019.
Monarch has been conducting extensive exploration drilling at the property, including at high-grade intersections near the existing underground infrastructure. All the targets are accessible above the mine's lowest development level.
Monarch updated its streaming agreement with Metalla Royalty & Streaming in February. Metalla will have a 1% net smelter return royalty on Beaufor's gold production, effective upon production.
