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Margaux Resources Ltd.
Summary
| Project: | Cassiar | |
|---|---|---|
| Deposit: | Taurus | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/13/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-11-2019: Margaux Resources Ltd. announces a Resource Estimation report for its Taurus deposit at the Cassiar project. Amended report - initial mineral resource estimate for project. The author prepared this report at the request of Margaux Resources Lt | |
| Resources: | (Resource, Inf.): 21.83Mt @ 1.43g/t Au | |
| CP/QP: | [Resources]: Scott Zelligan (Independent) | |
| ABSTRACT: | The author prepared this report at the request of Margaux Resources Ltd. (“Margaux”), a junior exploration company focused on gold exploration within British Columbia. The company recently entered into an agreement with Wildsky Resources Inc. (“Wildsky”) to acquire the Cassiar Gold Property (the “Property”) in northern British Columbia. The purpose of this report is to assess the merits of the Property and to provide a mineral resource that conforms to National Instrument 43- 101 specifications to satisfy TSX-V conditions for approval of the transaction. The Property is located in northern British Columbia, approximately 75 km south of the BC/Yukon border. The Property is located within the traditional territory of the Kaska First Nation. It covers approximately 56,000 hectares and comprises 222 mineral claims, 2 placer claims, and 18 crown granted mineral claims. The Property contains numerous orogenic (and corresponding placer) gold prospects, historical occurrences, and previously mined deposits. The Property straddles Highway 37 and entirely encompasses the unincorporated settlement of Jade City. The permanent camp facilities for the Project are located on company-owned private land at Jade City and are connected to the local power grid. The Property has good road access via historic mine and exploration roads to most of the prospective gold areas. All claims and property assets are 100% owned by Cassiar Gold Corp., a wholly owned subsidiary of Wildsky Resources Inc. Margaux Resources Ltd. holds an option from Wildsky to earn a 100% interest in the Property and its assets, in exchange for staged share payments of 58,200,000 common shares over an 18-month period. Except for 10 claims on which an underlying 2.5% NST exists, the agreement is not subject to any royalty interest. | |
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