All Penny Stocks.com News: Monarques Adding to Gold Property Position in Val d'Or
Mississauga, ON -- (SBWire) -- 12/17/2013 --AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Monarques Adding to Gold Property Position in Val d’Or.”
Companies mentioned in this article include Metanor Resources (TSX-Venture:MTO) and Monarques Resources Inc. (TSX-Venture:MQR).
Being a perimeter of the prolific Abitibi Gold Belt has made Val d’Or, Quebec a hotbed of mining activity for about a century. After all, the Abitibi Gold Belt is part of the prolific Abitibi Greenstone Belt that has been the home to more than 100 mines producing in excess of 170 million ounces of gold. Greenstone belts are known to host economical deposits of gold (and other minerals) and Abitibi is one of the largest greenstone belts in the world. The name Val d’Or itself, which is French for “Valley of Gold,” is about enough to send miners by the dozens to the region. It’s not just a playground for majors, several junior miners are showcasing the gold in their property, including Metanor Resources (TSX-Venture:MTO) announcing last week that it had a record gold pour of 1,079 ounces in the prior week from its Bachelor Mine in Val d’Or.
Monarques Resources Inc. (TSX-Venture:MQR) has aggressively built quite a large land position in Val d’Or. The list of acquisitions this year has been extensive, but most recently, in September, the Quebec City-based company acquired a 50 percent interest in the Simkar gold property from Eloro Resources. Subsequent to the acquisition, the two companies formed a joint venture to manage and explore the 4-km² property in the heart of the Abitibi Greenstone Belt.
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