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Monarch Gold Corp.
Summary
| Project: | Fayolle | |
|---|---|---|
| Deposit: | Fayolle | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 4/30/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-4-2020: Monarch Gold Corp. announces an Exploration/Drilling Update report for its Fayolle deposit at the Fayolle project. Drilling results incl. 109m @ 3.33g/t Au from 29m. Montreal, Quebec, Canada, April 30, 2020 – MONARCH GOLD CORPORATION (“Monarch” | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ronald Leber (Internal) | |
| ABSTRACT: | Montreal, Quebec, Canada, April 30, 2020 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report the assay results from the first of seven geotechnical holes in the 2019-2020 diamond drilling program at its wholly owned Fayolle gold project, located 25 kilometres northeast of Rouyn-Noranda, near Monarch’s Camflo mill. The drilling program started in December 2019 and was completed in mid-January 2020, with a total of 1,166 metres drilled in the seven holes. Eight shallow overburden/rock mechanics holes totalling 133 metres were also drilled in the area. The primary purpose of the drilling program was to collect geotechnical data in preparation for an upcoming feasibility study on the Fayolle deposit. The drill core was logged and assayed as part of the study. Assaying of the drill core from the first hole (FA-19-121) confirmed the presence of the mineralization and the block model grades, returning with 3.33 g/t Au over 109.0 metres. High-grade intervals with visible gold were found along the 109-metre interval, interspersed with almost continuous anomalous gold assays. The lower third of the interval intersected 3.33 g/t Au over 32.9 metres (see Figure 1 and Figure 2) immediately below the current constrained pit shell, which could potentially change the shape of the resource envelope and increase the resource tonnage and ounces of gold. | |
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