1,750-metre program aimed at drilling high potential targets
MONTREAL, Feb. 15, 2019 /CNW/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce the resumption of diamond drilling at its wholly owned Croinor Gold property, 50 kilometres east of Val-d'Or, Québec. Before being suspended due to the winter freeze, the 2018 diamond drill program enabled Monarch to extend the limits of the deposit, returning numerous intersections with high grade gold values over good widths, such as 18.40 g/t Au over 1.6 metres, 8.24 g/t Au over 9.0 metres, 43.25 g/t Au over 2.1 metres, 74.23 g/t Au over 2.0 metres and 17.26 g/t Au over 1.95 metres (see press releases dated July 10, 2018, September 5, 2018, October 4, 2018, January 15, 2019 and February 4, 2019 for a compilation of the 2018 drill results). The deposit remains open along strike and at depth.
The purpose of the 1,750-metre drilling program that will start in February 2019 is:
To finish the 2018 drilling program.
To drill high potential targets on the Croinor Gold property.
"Exploration to date on Croinor Gold has demonstrated the strong potential for increasing the size of the Croinor Gold deposit and finding new zones on the property," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "This greenfield drilling program on high potential targets is further proof of Monarch Gold's confidence in finding more gold on its 151 km2 property."
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 MONARCH GOLD CORPORATION
Monarch Gold Corporation (TSX: 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 other 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 Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX accepts responsibility for the adequacy or accuracy of this press release.)
SOURCE Monarch Gold Corporation
For further information: Jean-Marc Lacoste, 1-888-994-4465, President and Chief Executive Officer, [email protected]; Mathieu Séguin, 1-888-994-4465, Vice President, Corporate Development, [email protected]; Elisabeth Tremblay, 1-888-994-4465, Senior Geologist - Communications Specialist, [email protected], www.monarquesgold.com