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Monarch Gold Corp.
Summary
| Project: | Croinor | |
|---|---|---|
| Deposit: | Croinor | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2019: Monarch Gold Corp. announces an Exploration/Drilling Update report for its Croinor deposit at the Croinor project. Drilling results incl. 2.0m @ 74.23g/t Au from 163.4m. Montreal, Quebec, Canada, January 15, 2019 – MONARQUES GOLD CORPORATION (“ | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ronald Leber (Internal) | |
| ABSTRACT: | Montreal, Quebec, Canada, January 15, 2019 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSXV: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report additional positive assay results from the 2018 diamond drill program at its wholly owned Croinor Gold project 50 kilometres east of Val-d’Or, Québec. The initial 20,000-metre program started in March 2018 and focused on the expansion and infilling of the Croinor Gold deposit. The program was completed in early September with a total of 19,935 metres of core drilled in 89 holes. This last phase of the initial program shows the results from a total of 3,514 metres of drilling in 13 holes (see longitudinals: figure 1, figure 2 and figure 3). Assays have been received for all 89 holes (see table below and press releases dated July 10, 2018, September 5, 2018 and October 4, 2018, for a compilation of the drilling program results). The results obtained from the initial program warranted additional drilling on Croinor Gold. Drilling continued with one rig on the property and a second drill was added on September 17, allowing Monarques to drill an additional 6,645 metres before the winter freeze. The results of the additional drilling will be released soon. Hole CR-18-659 returned a very impressive 74.23 g/t Au over 2.0 metres, including 139.50 g/t Au over 1.0 metre. This intersection is just below the historic 500-foot level drift, 150 metres below surface, and is 30 metres east and 30 metres down dip from two planned stopes, with no other holes between the stopes and this hole. This hole has the potential to connect the two stopes and could substantially increase the tonnage and grade of the resource at the 500-foot level. Like Hole CR-18-659, Hole CR-18-660 is also an infill hole drilled between two planned stopes that are 60 metres apart. Hole CR-18-660 returned values of 7.77 g/t Au over 2.1 metres, including 11.05 g/t Au over 1.1 metres. This hole also connects the two stopes, increasing the grade and tonnage in this part of the mine. This intersection is 80 metres below the surface and is just below the 250-foot level of the old workings. | |
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