Goal is to increase the 165,608-ounce
pit-constrained/underground gold resource
MONTREAL, Sept. 18, 2018 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques", "Monarques Gold" or
the "Corporation") (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7)
is pleased to announce the start of a new 8,350-metre diamond
drilling program on its wholly-owned McKenzie Break gold property,
located 25 kilometres north of Val-d'Or, near Monarques' Camflo and Beacon
mills. Drilling started on September
13 with one drill, and a second drill will be added as the
work progresses.
McKenzie Break is a high-grade, multiple-narrow-vein gold
deposit hosted in the dioritic Pascalis batholith and underlain by
porphyritic diorite and mafic and felsic volcanic rocks. On
June 14, 2018, the Corporation
reported an NI 43-101 pit-constrained resource of 48,133 ounces in
the Indicated category and 14,897 ounces in the Inferred category
on the property, as well as an underground resource of 53,448
ounces in the Indicated category and 49,130 ounces in the Inferred
category, for a total of 165,608 ounces of gold (see press release
dated June 14, 2018).
Historical drilling on the property totals 258 holes and 37,750
metres of core, most of which targeted the Green and Orange zones.
The average length of the holes was only 150 metres. The current
39-hole drilling program will consist of holes 150 to 350 metres
long to test the property's potential at depth below the known
lenses and on the periphery of the Green and Orange zones (see
projected drilling map). The peripheral holes represent infill
drilling in areas where information is missing, and could lead to
an increase in the size of the planned open pit.
"The McKenzie Break property has great exploration potential,"
said Jean-Marc Lacoste, President
and Chief Executive Officer of Monarques. "It has the advantages of
being high grade at depth and easily accessible, as the average
overburden thickness is only 5 metres, meaning that we could put
the project into production relatively quickly. The program is
aimed at increasing the property's pit-constrained resource and
exploring its potential at depth."
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 five
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