Monarch Mine
Monarch Mine is located in Penhalonga east of Redwing mine. The mine is historically a high tonnage gold deposit extension of the Main Monarch Mine in Mozambique covering 200hectares.
Background
Monarch mine was first opened up by Mr.J.Meikle who drove adits into the hill side as far as the ore body in 1927. In December, 1929 Anglo-American acquired a 45 per cent share in an option to develop and purchase the mine, and in July, 1930 increased their share in the option to develop and purchase the mine and in July, 1930 increased their share in the option to 90 per cent.
From 1929-1949 the mine produced 90 000t of ore yielding 10 g/t Au from which 7.2 g/t was extracted (Sheeran, 1988). The Monarch claims were transferred to Lonrho Mining Company in 1987. In 1997 Lonrho then transferred the claims to Metallon Gold with no records of production. In January 2023 the claims were transferred to Toronto Mines.
Commercials
Forest Ridge, one of the largest heap leach operators in the country sought to partner Toronto on this project. The partnership is based on a production royalty structure for the mining of the banded iron formation, which is being exploited using the heap leach method. The resource is an estimated US$250-300m. Monarch Shares a boundary with Monarch Mine Mozambique, which has an annual production of 2,000 ounces of gold.
- Location: Mutare
- Size: 200 hectares
- Products: Gold
- Output: 1058.22 oz per month
- Resource Value: US$ 300 million
