The Corporation intersects 16.5 g/t Au over 1.1 metres at a depth of nearly 300 m on Section 50 East
MONTREAL, Nov. 9, 2016 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report new results from the current 10,000 metre drilling program on its Croinor Gold project 70 km east of Val-d'Or, Quebec.
Hole CR-16-489 intersected several gold veins at a depth of 265 m to 320 m, confirming the presence of two previously defined gold structures (see Section 50 East). The first interpreted vein returned an intersection of 8.58 g/t Au over 2.2 metres, including 16.5 g/t Au over 1.1 metres. Above that, the hole also returned grades of 4.0 g/t Au over 1.0 m and 1.2 g/t Au over 1.0 m. The second gold structure was confirmed by an intersection of 1.4 g/t Au over 0.9 m. All lengths represent the length of the drill core.
"We are on track to achieving one of our objectives for this program, which was to increase the Inferred resource while confirming the presence of an economic zone at depth on Croinor Gold," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "Two drills will continue to work on the program in November. We still have some deep holes to drill before we tackle our second objective of confirming the grade and extending the gold-bearing zones of the Indicated resource, which was defined by the November 2014 resource estimate and prefeasibility study."
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 Techni-Lab S.G.B. Abitibi Inc. 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 Techni-Lab laboratory in Ste-Germaine-Boulé. 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 196 km² of gold exploration properties (see map) along the Cadillac Break, including its main asset, the Croinor Gold mine, which has a 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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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
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For further information: Jean-Marc Lacoste, President and CEO, 1-888-994-4465 x 201, firstname.lastname@example.org, www.monarquesgold.com; Adam Buchanan, Corporate Development, 1-604-401-2539, email@example.com, www.monarquesgold.com