Monarques Gold intersects 12.71 g/t Au over 9.9 metres (33 feet) on Croinor Gold

One of the best economic intersections of the current program

MONTREAL, Jan. 19, 2017 /CNW/ - 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.

(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

For further information: Jean-Marc Lacoste, President and CEO, 1-888-994-4465 x 201, jm.lacoste@monarquesgold.com, www.monarquesgold.com; Adam Buchanan, Director, Corporate Development, 1-604-401-2539, a.buchanan@monarquesgold.com, www.monarquesgold.com


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