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Margaux Resources Ltd.
Summary
| Project: | Bayonne | |
|---|---|---|
| Deposit: | Bayonne | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 10/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-10-2018: Margaux Resources Ltd. announces an Exploration/Drilling Update report for its Bayonne deposit at the Bayonne project. Drilling results incl. 1.40m @ 39.43g/t Au, 131.2g/t Ag, 4.42% Pb, 6.30% Zn from 204.96m. Margaux Resources Ltd. (TSX VENTUR | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Linda Caron (Internal) | |
| ABSTRACT: | Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce that results have been received for the 12 hole (2,628 m) drill program recently completed on the Bayonne gold property, part of the Company’s Sheep Creek Gold District in southern B.C. Based on these results, a drill has been mobilized to the property for follow-up drilling. “Our 2018 drill program showed that the Bayonne property can host lower grade, bulk tonnage style mineralization in addition to discrete high-grade gold veins. We are encouraged with the results to date. The combination of these two styles of mineralization makes this a very strong target,” stated Margaux’s President and CEO, Tyler Rice. The Bayonne property hosts several high-grade, steeply dipping gold-bearing orogenic quartz veins. Historic production from the property (primarily from the period 1936 to 1946) was approximately 82,000 tonnes grading 16.0 g/t Au (gold) and 45.9 g/t Ag (silver), or a total of 42,169 ounces of gold. All historic mining was from the Main and A veins which were the subject of the 2018 drill program. The Main-A vein system has been traced on surface, in underground workings and by drilling, for a strike length of 1,000 m and remains open on strike to the west. The Company’s 2017 drill program confirmed that the Main and A veins, and high-grade gold values, continue at depth below the historic Bayonne mine workings, with results including 1.85 m at 15.31 g/t Au and 1.0 m at 12.7 g/t Au (see Margaux news release November 28, 2017). As shown in the figure below, the 2018 drill program included step-out drilling to follow-up on these areas, as well as exploration drilling in the eastern portion of the vein system, which was untested by any previous drilling. Detailed results from the recent drill program are tabulated below. | |
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