MONTREAL, March 27, 2017 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques" or the "Corporation") (TSX-V:
MQR) (FRANKFURT: MR7) is pleased to announce the initial results
from the 2017 drilling program on its Croinor Gold property, 70 km
east of Val-d'Or, Quebec. The
10,000-metre drilling program is designed to further investigate
the most favourable areas tested on Croinor Gold in 2016, pursue
exploration in the Gold Bug area and drill the Croinor Gold deposit
at depth.
Holes CR-17-522 to CR-17-524 have returned high-grade
intersections from Sections 760W and 480W in the west part of the
Croinor Gold deposit, one of the areas tested in 2016.
Hole CR-17-524 intersected a quartz-tourmaline zone on Section
760W in a 4.1-metre long sericitic envelope (3.2 metres true width)
grading 6.69 g/t Au, including two high-grade intersections of 37.0
g/t Au over 0.5 metres and 10.3 g/t Au over 0.7 metres. This zone,
intersected at a vertical depth of 310 metres, confirms the
continuity of the zone intersected by historical hole CR-11-395
(14.69 g/t Au over 2 metres), located 38 metres away down dip.
Hole CR-17-523 confirmed the lateral continuity and dip of the
mineralized structure intersected in Hole CR-16-515 (see press
release dated February 2, 2017),
which returned 11.91 g/t Au over 2.8 metres, including 46.6 g/t Au
over 0.6 metres, on Section 490W. Hole CR-17-523 was drilled on
Section 480W, 10 metres to the east, and intersected 3.04 g/t Au
over 4.8 metres (3.4 metres true width).
The structures remain open at depth in both cases.
The table below shows the results obtained to date, with true
widths indicated were allowed by the quantity of information (see
longitudinal).
|
|
|
|
|
Hole#
|
Area
|
Length
|
True
width**
|
Results
|
|
FROM
|
TO
|
m
|
m
|
Au
g/t
|
|
|
|
CR-17-522
|
63.9
|
67
|
3.1
|
2.5
|
7.57
|
including 12 g/t over
1.1 m
|
CR-17-523
|
145.25
|
147.8
|
2.6
|
1.8
|
1.91
|
|
CR-17-523
|
156.8
|
158.8
|
2.0
|
1.2
|
6.60
|
|
CR-17-523
|
160.4
|
161.3
|
0.9
|
*
|
2.83
|
|
CR-17-523
|
165.5
|
170.25
|
4.8
|
3.4
|
3.04
|
|
CR-17-524
|
285.4
|
286.7
|
1.3
|
*
|
0.86
|
|
CR-17-524
|
309.6
|
313.75
|
4.1
|
3.2
|
6.69
|
Incl. 37 g/t over
0.5m and 10.3 g/t over 0.7m
|
CR-17-524
|
340.1
|
340.6
|
0.5
|
*
|
1.80
|
|
CR-17-524
|
342.8
|
345
|
2.2
|
*
|
0.80
|
|
* Single
or discontinuous veins whose continuity and stike cannot be
properly estimated.
|
|
** True widths are
calculated from cross-sections.
|
|
|
|
|
"The 2017 drilling program is the logical extension of the work
done to date on Croinor Gold, given the positive results of the
2016 program," said Jean-Marc
Lacoste, President and Chief Executive Officer of Monarques.
"The 2016 program ended with the discovery of a 25-metre
intersection grading 8.41 g/t Au on Gold Bug (see press release
dated January 24, 2017). It also
outlined the western part of the Croinor Gold deposit and generated
numerous high grade gold-bearing intersections that confirmed the
continuity of the deposit at depth. The initial results for the
2017 program strengthens our conviction that the Croinor Gold
deposit could contain more economic zones than those already
identified, and we are eagerly awaiting the completion of the
updated prefeasibility study being prepared by InnovExplo."
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 km² of gold exploration
properties (see map) along the Cadillac Break, as well as 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.
(Watch our latest Corporate Video)
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.
SOURCE Monarques Gold Corporation