TSX:FNV 117.86 +1.10 +0.94%
Volume 739,207
July 19, 2019
NYSE:FNV 90.22 +0.64 +0.71%
Volume 728,243
July 19, 2019
Gold 1,425.47 -20.78 -1.44%
Volume
July 19, 2019
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Franco-Nevada

Monument Bay (Au)

LOCATION: Manitoba, Canada
OPERATOR: Yamana Gold Inc.
ROYALTY: NSR: 2-3%

In June 2015, Yamana acquired Mega Precious Metals Inc. and the Monument Bay property, which is located in Manitoba, approximately 570 km northeast of Winnipeg. Monument Bay consists of 136 contiguous claims and hosts a Measured and Indicated Mineral Resource base of 1.787 million ounces of gold in 36.6 Mt @ 1.52 g/t. Franco-Nevada holds a 2% NSR royalty on the first 1.0 million ounces produced and a 3% NSR on any additional production. In 2018 16,270 meters of drilling were completed on the Monument Bay project. In addition, during the period a new geological interpretation of the deposit was formed and is expected to be the basis for an updated block model and Mineral Resource estimate. Groundwork is continuing and generating prospects for follow-up testing in 2019. On September 13, 2018, Yamana signed an Exploration Agreement with Red Sucker Lake First Nations in relation to the Monument Bay exploration site.