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Monarch Gold Corp.
Summary
| Project: | Croinor | |
|---|---|---|
| Deposit: | Croinor | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2018: Monarch Gold Corp. announces an Exploration/Drilling Update report for its Croinor deposit at the Croinor project. Drilling results incl. 9m @ 8.24g/t Au from 333.5m. Montreal, Quebec, Canada, September 5, 2018 – MONARQUES GOLD CORPORATION (“Mon | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ronald Leber (Internal) | |
| ABSTRACT: | Montreal, Quebec, Canada, September 5, 2018 – MONARQUES GOLD CORPORATION (“Monarques”, “Monarques Gold” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report additional assay results from the 2018 diamond drilling program at its wholly owned Croinor Gold project 50 kilometres east of Val-d’Or, Québec. The 20,000-metre program started in March 2018 and is focused on the expansion and infilling of the Croinor Gold deposit. The Phase 2 results are from a total of 5,327 metres of drilling in 27 holes (see plan view). Phase 2 drilling is complete, with assays pending, and Phase 3 drilling has started. The Croinor Gold deposit is hosted in a sheared diorite sill three kilometres long by 60–120 metres wide, striking 295 degrees north and dipping 50–65 degrees to the north. The mineralization is associated with pyrite found within and adjacent to quartz-tourmaline veins. The goal of Phase 2 was to extend the Croinor Gold deposit farther west and infill the two areas slated for underground bulk sampling. Hole CR-18-606 returned 8.24 g/t Au over 9.0 metres, including 26.38 g/t Au over 2.6 metres. This intersection lies 328 vertical metres below surface, 54 metres north of and 34 metres below the mineralized intersection of hole CN-88-133, which was used to design the deepest stope in the mining plan. Hole CR-18-601, drilled on the western part of the Croinor Gold deposit, 84 metres west of the nearest hole (CR-11-401) on the same horizon, returned 5.30 g/t Au over 1.1 metres in an intersection 336 metres below surface. These results show that the deposit is still open both at depth and to the west, and that further drilling is warranted. Hole CR-18-610 returned 5.67 g/t Au over 7.0 metres just below the 500-foot level drift of the old mine, enlarging a planned stope on this level. Infill drilling of two areas slated for bulk sampling returned 18.45 g/t Au over 0.9 metres, 12.00 g/t Au over 1.2 metres and 11.25 g/t Au over 1.0 metres from the area on the 125-foot level and 12.50 g/t Au over 1.1 metres, 6.34 g/t Au over 1.2 metres and 4.68 g/t Au over 1.2 metres from the area on the 250-foot level, in addition to other values shown in the table below. These encouraging numbers confirm and expand the two areas planned for bulk sampling on two different levels. The area on the 125-foot level is in the western part of the deposit and the area on the 250-foot level is near the old shaft in the middle of the deposit. | |
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