One of the best economic intersections of the current program
MONTREAL, Jan. 19, 2017 /PRNewswire/ - 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 Length Grade 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 km² 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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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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