MONTREAL, Oct. 19, 2016 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report that it has staked 52 new mining claims covering an additional 30 km2 at Croinor Gold (see new Map).
The claims were staked following the receipt of assay results for geochemistry samples collected at the boundaries of the Croinor Gold property in September and the discovery of new gold-bearing structures during stripping in the summer of 2016.
"Croinor Gold now totals 335 mining claims covering an area of more than 150 km2," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "This staking greatly increases the property's exploration potential, which has more than eight surface gold showings that have not yet been fully explored."
Two drills continue with the drilling program at Croinor Gold, with one dedicated to increasing the Inferred resource and testing the grade of some of the zones of the Indicated resource, and the other testing exploration targets in and around the Gold Bug stripped area, as well as the diorite hosting the Croinor Gold deposit, to the south of the deposit. Drill results are pending.
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.
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 of becoming 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.
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
Image with caption: "To be the leading explorer and developer of gold properties in the Val D&Or / Abitibi Camp (CNW Group/Monarques Gold Corporation) (CNW Group/Monarques Gold Corporation)". Image available at: http://photos.newswire.ca/images/download/20161019_C4816_PHOTO_EN_798887.jpg
For further information: Jean-Marc Lacoste, President and CEO, 1-888-994-4465 x 201, [email protected], www.monarquesgold.com; Adam Buchanan, Corporate Development, 1-604-401-2539, [email protected], www.monarquesgold.com; Katherine Fedorowicz, VP, Marketing & Investor Relations, Red Cloud Klondike Strike Inc., 1-877-919-5979, [email protected], www.RedCloudKS.com