Category: Silver / Gold

Monarques Gold Corporation ( MQR )

Published: 19 January 2017
Written by Editor
Drill Results   Up on News   TSXV  

Monarques Gold intersects 12.71 g/t Au over 9.9 metres (33 feet) on Croinor Gold

2017-01-19 09:41 ET - News Release - One of the best economic intersections of the current program
 
MONTREAL, Jan. 19, 2017 - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to provide an update on the 10,000-metre drilling program on its Croinor Gold project, 70 km east of Val-d'Or, Quebec. The program focused mainly on the Croinor Gold deposit, but also included some exploration drilling in the Gold Bug sector. All the drilling is now complete, with some results still pending on Croinor Gold. Furthermore, five holes drilled on Gold Bug are currently being logged and will be assayed in the coming weeks.
The program on Croinor Gold had two objectives: 1) to increase the Inferred resource, and 2) to increase the Indicated resource and check grade reproducibility (see longitudinal map). Hole CR-16-512 was designed to achieve the second objective. It returned 12.71 g/t Au over 9.9 metres (33 feet), confirming the high grades obtained in historical holes CN-89-135 (24.30 g/t Au over 2.7 metres) and CR-15-431 (15.12 g/t Au over 4.0 metres). The mineralization consists of multiple quartz-tourmaline veins within a shear zone, with visible gold. Visible gold was also reported in historical drilling. Lengths are expressed as measured along the core axis. True thickness has not been determined, and high grades are cut to 70 g/t.
 
"The results for Hole CR-16-512 once again attest to the presence of high-grade economic intersections at Croinor Gold, and confirm the reproducibility of the high grades obtained from historical drilling," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "The program has also shown that the Croinor Gold gold system remains open in depth, and it will therefore be thoroughly tested at depth during our next program. In short, this program has allowed us to improve our understanding of the controls on mineralization, as well as the structural elements influencing deposit morphology. Together, these elements will enable us to develop a better mining plan for the upcoming update of our prefeasibility study."
The table below shows all the results for the 2016 drilling program on Croinor Gold: 
  
   Hole #         Area      LengthGrade    Comments                               
             From     To     m   g/t Au                                                                      
 CR-16-481                        NSV                                                                        
 CR-16-482                        NSV                                                                        
 CR-16-483                        NSV                                                                        
 CR-16-484  189.00  193.00  4.0   5.90     5.90 g/t over 4.0 m incl. 18.4 g/t over 1.0 m             
 CR-16-484  213.00  214.00  1.0   0.38                                                                       
 CR-16-486  205.00  206.50  1.5   5.10                                                                       
 CR-16-486  209.00  210.00  1.0   1.33                                                                       
 CR-16-486  215.90  216.80  0.9   0.76                                                                       
 CR-16-486  218.90  219.90  1.0   0.95                                                                       
 CR-16-486  220.70  221.50  0.8   0.68                                                                       
 CR-16-487  263.80  265.30  1.5   4.51                                                                       
 CR-16-487  265.90  266.40  0.5   0.68                                                                       
 CR-16-487  268.60  269.40  0.8   2.31                                                                       
 CR-16-487  306.80  307.30  0.5   0.30                                                                       
 CR-16-487  313.90  314.90  1.0   0.90                                                                       
 CR-16-487  317.50  318.30  0.8   0.71                                                                       
 CR-16-487  282.20  283.20  1.0   1.72                                                                       
 CR-16-489  269.10  270.60  1.5   4.00                                                                       
 CR-16-489  272.60  273.60  1.0   1.16                                                                       
 CR-16-489  278.50  279.00  0.5   0.53                                                                       
 CR-16-489  286.50  288.70  2.2   8.58     8.58 g/t over 2.2 m incl. 16.5 g/t over 1.1 m             
 CR-16-489  331.10  332.00  0.9   1.41                                                                       
 CR-16-489  332.00  333.00  1.0   0.63                                                                       
 CR-16-489  333.00  334.10  1.1   0.30                                                                       
 CR-16-493  258.50  259.50  1.0   0.39                                                                       
 CR-16-493  261.50  262.40  0.9   0.81                                                                       
 CR-16-493  282.40  283.00  0.6   0.59                                                                       
 CR-16-493  284.00  284.80  0.8   0.97                                                                       
 CR-16-493  312.50  313.40  0.9   1.98                                                                       
 CR-16-493  313.40  314.40  1.0   0.53                                                                       
 CR-16-497  165.60  166.60  1.0   3.13                                                                       
 CR-16-497  231.00  232.00  1.0   0.53                                                                       
 CR-16-497  232.50  233.00  0.5   2.90                                                                       
 CR-16-498  451.50  452.50  1.0   0.35                                                                       
 CR-16-500  293.00  294.00  1.0   0.88                                                                       
 CR-16-500  297.00  298.00  1.0   2.68                                                                       
 CR-16-500  306.00  306.50  0.5   1.23                                                                       
 CR-16-500  309.90  314.00  4.1   2.41                                                                       
 CR-16-500  343.00  344.00  1.0   1.08                                                                       
 CR-16-500  359.90  360.80  0.9   0.57                                                                       
 CR-16-500  390.50  391.30  0.8   0.47                                                                       
 CR-16-500  391.30  392.00  0.7   0.48                                                                       
 CR-16-500  396.50  397.50  1.0   0.85                                                                       
 CR-16-502  99.00   100.00  1.0   1.43                                                                       
 CR-16-504                        NSV                                                                        
 CR-16-505  255.00  255.60  0.6   0.66                                                                       
 CR-16-505  288.50  290.80  2.3  23.27     23.27 g/t over 2.3 m incl. 58.6 g/t over 0.9 m            
 CR-16-505  293.10  293.60  0.5   1.63                                                                       
 CR-16-506  230.60  231.50  0.9   3.26                                                                       
 CR-16-506  233.50  234.00  0.5   0.34                                                                       
 CR-16-506  236.00  239.20  3.2   3.95     3.95 g/t over 3.2 m incl. 15.7 g/t over 0.7 m             
 CR-16-506  247.80  248.30  0.5   0.36                                                                       
 CR-16-508  180.00  180.80  0.8   0.87                                                                       
 CR-16-508  212.50  213.50  1.0   0.74                                                                       
 CR-16-508  219.80  220.60  0.8   5.62                                                                       
 CR-16-509  289.10  291.30  2.2   2.98                                                                       
 CR-16-509  383.80  384.80  1.0   2.66                                                                       
 CR-16-510  231.00  232.50  1.5   8.74                                                                       
 CR-16-511                  0.0   NSV                                                                        
 CR-16-512  35.40   37.20   1.8   4.44                                                                       
 CR-16-512  67.60   68.40   0.8   0.48                                                                       
 CR-16-512  153.80  154.80  1.0   0.42                                                                       
 CR-16-512  155.80  156.90  1.1   0.55                                                                       
 CR-16-512  156.90  157.60  0.7   0.92                                                                       
 CR-16-512  256.20  257.30  1.1   0.87                                                                       
 CR-16-512  262.00  271.90  9.9  12.71     12.71 g/t over 9.9 m incl. 43.3 g/t over 1.0 m 
                                           and 43.9 g/t over 1.0 m
 CR-16-512  278.30  279.10  0.8   5.70
                                                                      
NSV : Non Significant Value
High cut-off grade: 70 g/t

 

The technical and scientific content of this press release has been reviewed and approved by Donald Trudel, P.Geo., B.Sc., the Corporation's Qualified Person under National Instrument 43-101.

Sampling normally consisted of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory in Val-d'Or for assaying. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 3.0 g/t are re-assayed using the gravity method. Samples containing gold grains are assayed using the metallic sieve method at the ALS Minerals laboratory in Val-d'Or. Monarques has established a full QA/QC protocol, including the insertion of standards, blanks and duplicates.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold is a growing junior gold company focused on becoming the leading explorer and developer of gold properties in the Val-d'Or/Abitibi gold camp in Quebec, Canada. The Corporation currently has approximately 200 km Superscript 2 of gold exploration properties (see map) along the Cadillac Break; plus its main asset, the Croinor Gold mine, which has great potential to become a producing mine. Monarques Gold is well financed and has close to $9 million in credits from Quebec's Ministry of Energy and Natural Resources.

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