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Monarch Gold Corp.
Summary
| Project: | Croinor | |
|---|---|---|
| Deposit: | Croinor | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/6/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 6-10-2016: Monarch Gold Corp. announces an Exploration/Drilling Update report for its Croinor deposit at the Croinor project. Drilling results incl. 4m @ 5.90g/t Au from 190m. Montreal, Quebec, Canada, October 6 th , 2016 – MONARQUES GOLD CORPORATION (“Mo | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Donald Trudel (Internal) | |
| ABSTRACT: | Montreal, Quebec, Canada, October 6 th , 2016 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report initial results from the 10,000-metre drilling program currently underway at its Croinor Gold project, 70 kilometres east of Val-d’Or, Quebec. The main goal of the program, which started on September 9, 2016, is to increase the inferred resource by drilling the main Croinor Gold deposit and high potential exploration targets. To date, four holes have been drilled in the area of the Croinor Gold deposit. Hole CR 16-484 intersected a gold structure grading 5.90 g/t Au over 4 metres, including 18.4 g/t Au over 1 metre (true width cannot be determined on the basis of current information). The structure was identified at a depth of 190 metres, more than 50 metres deeper than the last developed level (Level 500) on Section 530 West (see Section 530W). The other drill results are still pending. “This initial result is very promising and makes us optimistic about the possibilities for increasing the resource of the Croinor Gold deposit at depth, especially given that this is a high-grade gold structure,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “There are a number of other results still to come, including for the holes drilled on Gold Bug. We are confident that this program will confirm the growing potential of the Croinor Gold project.” Two drills have been assigned to the drilling program, which will be ongoing throughout the month of October. One of the drills will be dedicated to increasing the Inferred resource and testing the grade of some of the zones of the Indicated resource, while the other will test exploration targets in and around the Gold Bug stripped area, as well as the diorite hosting the Croinor Gold deposit, to the south of the deposit. | |
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