Continuous strong results warrant an
additional 8,300 metres of drilling
MONTREAL, Oct. 4, 2018 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques" 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 initial 20,000-metre
program started in March 2018 and
focused on the expansion and infilling of the Croinor Gold deposit.
The program was completed in early September with a total of 19,935
metres of core drilled in 89 holes. Drilling continued with one rig
on the property and a second drill was added on September 17 to drill an additional 8,300 metres
before the winter freeze.
The Phase 3 results are from a total of 6,790 metres of drilling
in 36 holes (see longitudinal view). Assays have been received for
77 of the 89 holes drilled and logged (see table below and press
releases dated July 10, 2018 and
September 5, 2018).
The first 25 holes in the table below are from the two areas
targeted for bulk sampling, on the 125-foot level and the 250-foot
level of the old mine workings. These holes are infill and contour
drill holes for the two zones, with a grid spacing of 10 metres by
10 metres, considering historical holes and holes drilled
previously by Monarques. Hole CR-18-636 returned 43.25 g/t Au over
2.1 metres, including 88.60 g/t Au over 1.0 metre in the 125-foot
level bulk sample area, and Hole CR-18-647 returned 25.92 g/t Au
over 3.4 metres in the 250-foot level bulk sample area. Both these
holes have increased the volume of ore planned to be mined. New
wireframes for each area are being completed by an external
consultant.
Near-mine exploration drilling has consistently returned
positive results, with 8 of the 11 holes returning economic assays.
Hole CR-18-653, drilled 41 metres up plunge from the nearest
planned stope, returned 22.00 g/t Au over 1.1 metres, indicating
that the gold system is still open to the west. Hole CR-18-649 is a
down dip hole drilled into the host diorite to test the deposit at
depth and returned 9.59 g/t Au over 1.0 metre, indicating that the
deposit is still open at depth.
"We continue to be impressed by these high-grade results on
Croinor Gold, which prompted us to drill an additional 8,300
metres," said Jean-Marc Lacoste,
President and Chief Executive Officer of Monarques. "The success of
our 2018 drilling program also shows that we have a better
understanding of the deposit. This supplementary 8,300-metre
drilling program is designed to pass between the planned stopes,
where there are no drill results, to increase the tonnage in the
Croinor Gold deposit before mining starts, and to drill around the
periphery of the deposit to follow up on positive assay results to
extend the resource to the west, where it is still open. As I have
said before, we believe that the Croinor Gold discovery potential
remains essentially untapped."
Phase 3 drill results from the Croinor Gold project
Hole
|
Length
|
From
|
To
|
Width*
|
Grade
|
Area
|
Number
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t
Au)
|
Targeted**
|
CR-18-623
|
46
|
42.8
|
43.3
|
0.5
|
0.06
|
125
|
CR-18-624
|
219
|
64.6
|
66.0
|
1.4
|
2.87
|
250
|
CR-18-625
|
130
|
94.2
|
95.1
|
0.9
|
0.68
|
125
|
CR-18-626
|
40
|
21.8
|
22.9
|
1.1
|
0.42
|
125
|
CR-18-627
|
136
|
93.7
|
94.9
|
1.2
|
5.86
|
125
|
CR-18-628
|
85
|
77.5
|
78.4
|
0.9
|
0.74
|
250
|
CR-18-629
|
121
|
25.0
|
26.0
|
1.0
|
2.26
|
125
|
CR-18-630
|
91
|
71.1
|
72.3
|
1.2
|
6.38
|
250
|
CR-18-631
|
187
|
66.5
|
67.2
|
0.7
|
7.11
|
250
|
|
|
72.7
|
74.7
|
2.0
|
5.91
|
|
CR-18-632
|
151
|
26.8
|
27.8
|
1.0
|
4.27
|
125
|
CR-18-633
|
103
|
77.0
|
78.0
|
1.0
|
23.20
|
250
|
CR-18-634
|
193
|
131.8
|
132.2
|
0.5
|
2.13
|
125
|
CR-18-635
|
226
|
76.5
|
77.5
|
1.0
|
1.80
|
250
|
CR-18-636
|
46
|
34.0
|
36.1
|
2.1
|
43.25
|
125
|
Including
|
|
34.0
|
35.0
|
1.0
|
88.60
|
|
CR-18-637
|
163
|
24.9
|
28.2
|
3.3
|
5.42
|
125
|
Including
|
|
27.0
|
28.2
|
1.2
|
11.20
|
|
CR-18-638
|
154
|
104.0
|
109.0
|
5.0
|
11.20
|
125
|
Including
|
|
104.0
|
105.1
|
1.1
|
21.60
|
|
Including
|
|
108.1
|
109.0
|
0.9
|
35.20
|
|
CR-18-639
|
85
|
69.2
|
70.2
|
1.0
|
8.69
|
250
|
|
|
75.2
|
77.3
|
2.1
|
4.83
|
|
Including
|
|
75.2
|
76.2
|
1.0
|
7.48
|
|
CR-18-640
|
85
|
72.7
|
76.0
|
3.3
|
4.40
|
250
|
CR-18-641
|
172
|
103.0
|
104.3
|
1.3
|
7.35
|
125
|
CR-18-642
|
40
|
32.8
|
34.0
|
1.2
|
0.21
|
250
|
CR-18-643
|
70
|
30.2
|
31.4
|
1.2
|
0.64
|
250
|
CR-18-644
|
76
|
60.6
|
61.8
|
1.2
|
5.39
|
250
|
CR-18-645
|
222
|
68.0
|
70.0
|
2.0
|
4.55
|
250
|
CR-18-646
|
82
|
53.5
|
54.8
|
1.3
|
1.34
|
250
|
CR-18-647
|
199
|
61.5
|
64.9
|
3.4
|
25.92
|
250
|
CR-18-648***
|
760
|
155.9
|
159.7
|
3.8
|
4.62
|
NME
|
CR-18-649***
|
751
|
528.2
|
531.5
|
3.3
|
3.96
|
NME
|
Including
|
|
529.4
|
530.4
|
1.0
|
9.59
|
|
CR-18-650
|
250
|
126.1
|
127.0
|
0.9
|
17.35
|
NME
|
|
|
199.0
|
201
|
2.0
|
7.41
|
|
CR-18-651
|
241
|
189.3
|
193.2
|
3.9
|
4.39
|
NME
|
Including
|
|
190.3
|
191.3
|
1.0
|
8.23
|
|
|
|
200.3
|
203.4
|
3.1
|
9.86
|
|
Including
|
|
202.2
|
203.4
|
1.2
|
21.10
|
|
CR-18-652
|
271
|
182.1
|
183.3
|
1.2
|
12.20
|
NME
|
|
|
198.6
|
199.6
|
1.0
|
5.67
|
|
CR-18-653
|
262
|
193.1
|
194.2
|
1.1
|
22.00
|
NME
|
|
|
204.4
|
205.3
|
0.9
|
4.45
|
|
CR-18-654
|
202
|
112.0
|
114.4
|
2.4
|
1.19
|
NME
|
CR-18-655
|
250
|
170.3
|
171.1
|
0.8
|
3.13
|
NME
|
CR-18-656
|
202
|
140.7
|
141.8
|
1.1
|
5.23
|
NME
|
|
|
177.2
|
181.6
|
4.4
|
7.45
|
|
Including
|
|
177.2
|
178.3
|
1.1
|
17.70
|
|
CR-18-657
|
220
|
130.8
|
132.5
|
1.7
|
7.93
|
NME
|
CR-18-658
|
259
|
116.3
|
117.2
|
0.9
|
1.20
|
NME
|
* The width shown is
the core length. True width is estimated to be 90-95% of the core
length.
|
** 125=125 Foot Level
Bulk Sample; 250=250 Foot Level Bulk Sample; NME=Near Mine
Exploration.
|
*** Holes CR-18-648
and CR-18-649 were 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 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