Drilling confirms grades for planned bulk
sampling areas and continues to expand the deposit at depth
and to the west
MONTREAL, Sept. 5, 2018 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques", "Monarques Gold" or
the "Corporation") (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7)
is pleased to report additional assay results from the 2018 diamond
drilling program at its wholly owned Croinor Gold project 50
kilometres east of Val-d'Or,
Québec. The 20,000-metre program started in March 2018 and is focused on the expansion and
infilling of the Croinor Gold deposit. The Phase 2 results are from
a total of 5,327 metres of drilling in 27 holes (see plan view).
Phase 2 drilling is complete, with assays pending, and Phase 3
drilling has started.
The Croinor Gold deposit is hosted in a sheared diorite sill
three kilometres long by 60–120 metres wide, striking 295 degrees
north and dipping 50–65 degrees to the north. The mineralization is
associated with pyrite found within and adjacent to
quartz-tourmaline veins. The goal of Phase 2 was to extend the
Croinor Gold deposit farther west and infill the two areas slated
for underground bulk sampling.
Hole CR-18-606 returned 8.24 g/t Au over 9.0 metres, including
26.38 g/t Au over 2.6 metres. This intersection lies 328 vertical
metres below surface, 54 metres north of and 34 metres below the
mineralized intersection of hole CN-88-133, which was used to
design the deepest stope in the mining plan. Hole CR-18-601,
drilled on the western part of the Croinor Gold deposit, 84 metres
west of the nearest hole (CR-11-401) on the same horizon, returned
5.30 g/t Au over 1.1 metres in an intersection 336 metres below
surface. These results show that the deposit is still open both at
depth and to the west, and that further drilling is warranted.
Hole CR-18-610 returned 5.67 g/t Au over 7.0 metres just below
the 500-foot level drift of the old mine, enlarging a planned stope
on this level.
Infill drilling of two areas slated for bulk sampling returned
18.45 g/t Au over 0.9 metres, 12.00 g/t Au over 1.2 metres and
11.25 g/t Au over 1.0 metres from the area on the 125-foot level
and 12.50 g/t Au over 1.1 metres, 6.34 g/t Au over 1.2 metres and
4.68 g/t Au over 1.2 metres from the area on the 250-foot level, in
addition to other values shown in the table below. These
encouraging numbers confirm and expand the two areas planned for
bulk sampling on two different levels. The area on the
125-foot level is in the western part of the deposit and the area
on the 250-foot level is near the old shaft in the middle of the
deposit.
"Drilling on Croinor Gold continues to generate excellent
results," said Jean-Marc Lacoste,
President and Chief Executive Officer of Monarques. "Like Phase 1,
Phase 2 was a success, striking mineralized zones in 26 of the 27
holes, returning a number of high-grade intersections and enabling
us to confirm the grades and continuity of the gold structures in
the planned bulk samples areas and extend the deposit at depth and
to the west. As we await the final results for Phase 2, we have
commenced Phase 3 drilling, which in addition to definition
drilling on planned stopes in the western sector of the deposit is
focused on other promising exploration targets on the
151 km2 Croinor Gold property.
From what we know of Croinor Gold to date, we believe that its gold
discovery potential remains essentially untapped."
Phase 2 drill results from the Croinor Gold project
|
|
|
|
|
|
Hole
Number
|
Length
|
From
|
To
|
Width*
|
Grade
Au
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
CR-18-592
|
208
|
180.5
|
181.2
|
0.7
|
1.66
|
CR-18-596
|
91
|
56.5
|
58.0
|
1.5
|
9.87
|
Including
|
|
57.5
|
58.0
|
0.5
|
26.70
|
CR-18-598
|
328
|
277.0
|
277.7
|
0.7
|
0.64
|
CR-18-599
|
111
|
56.6
|
57.7
|
1.1
|
7.78
|
CR-18-600
|
82
|
|
Abandoned
hole
|
|
CR-18-601
|
436
|
339.3
|
340.4
|
1.1
|
5.30
|
CR-18-602
|
81
|
51.3
|
52.1
|
0.8
|
0.02
|
CR-18-603
|
342
|
151.8
|
152.8
|
1.0
|
1.40
|
CR-18-604
|
202
|
179.6
|
180.0
|
0.4
|
0.03
|
CR-18-605
|
97
|
57.0
|
58.0
|
1.0
|
4.09
|
CR-18-606**
|
637
|
333.5
|
342.5
|
9.0
|
8.24
|
Including
|
|
333.5
|
336.1
|
2.6
|
26.38
|
|
|
346.7
|
347.3
|
0.6
|
3.95
|
CR-18-607
|
292
|
175.0
|
177.4
|
2.4
|
2.00
|
Including
|
|
175.5
|
176.0
|
0.5
|
3.12
|
CR-18-608
|
193
|
132.2
|
133.2
|
1.0
|
0.41
|
CR-18-609
|
208
|
112.3
|
113.2
|
0.9
|
0.13
|
CR-18-610
|
250
|
177.0
|
178.0
|
1.0
|
7.30
|
|
|
180.0
|
181.0
|
1.0
|
5.36
|
|
|
189.0
|
196.0
|
7.0
|
5.67
|
Including
|
|
189.0
|
192.0
|
3.0
|
7.01
|
|
|
199.0
|
199.8
|
0.8
|
7.58
|
CR-18-611
|
223
|
188.0
|
189.0
|
1.0
|
29.50
|
CR-18-612
|
300
|
99.8
|
100.8
|
1.0
|
35.90
|
CR-18-613
|
142
|
74.5
|
75.5
|
1.0
|
0.66
|
CR-18-614
|
55
|
38.7
|
39.3
|
0.6
|
0.16
|
CR-18-615
|
181
|
38.85
|
40.9
|
2.05
|
9.66
|
Including
|
|
40.0
|
40.9
|
0.9
|
18.45
|
|
|
93.5
|
94.5
|
1.0
|
2.35
|
|
|
112.0
|
113.0
|
1.0
|
7.67
|
|
|
175.0
|
176.35
|
1.35
|
3.41
|
CR-18-616
|
181
|
60.4
|
61.6
|
1.2
|
6.34
|
|
|
66.2
|
67.4
|
1.2
|
4.68
|
CR-18-617
|
130
|
36.8
|
37.6
|
0.8
|
0.46
|
CR-18-618
|
199
|
73.3
|
74.0
|
0.7
|
4.54
|
CR-18-619
|
151
|
28.0
|
29.2
|
1.2
|
12.00
|
|
|
32.8
|
34.8
|
2.0
|
6.60
|
CR-18-620
|
70
|
39.0
|
41.2
|
2.2
|
6.72
|
Including
|
|
39.0
|
40.0
|
1.0
|
11.25
|
CR-18-621
|
85
|
66.5
|
67.6
|
1.1
|
12.50
|
CR-18-622
|
52
|
42.0
|
43.0
|
1.0
|
3.07
|
*
|
The width shown is
the core length. True width is estimated to be 90-95% of the core
length.
|
|
|
**
|
Hole CR-18-586 was
drilled down dip, parallel to the diorite, to test for the presence
of multiple directions of quartz veining. The width shown is the
core length. True width is estimated to be 30-35% of the core
length.
|
Sampling normally consists 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, and samples containing gold grains are assayed
using the metallic sieve method. Monarques uses a comprehensive
QA/QC protocol, including the insertion of standards, blanks and
duplicates.
The technical and scientific content of this press release has
been reviewed and approved by Ronald G.
Leber, P.Geo., the Corporation's qualified person under
National Instrument 43-101.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corporation (TSXV:MQR) is an emerging gold mining
company focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns
close to 300 km² of gold properties (see map), including the
Wasamac deposit (measured and indicated resource of 2.6 million
ounces of gold), the Beaufor Mine, the Croinor Gold (see video),
McKenzie Break and Swanson
advanced projects and the Camflo and Beacon mills, as well as six
promising exploration projects. It also offers custom milling
services out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements
The forward-looking statements in this press release involve
known and unknown risks, uncertainties and other factors that may
cause Monarques' actual results, performance and achievements to be
materially different from the results, performance or achievements
expressed or implied therein. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
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SOURCE Monarques Gold Corporation