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Monarch Gold Corp.
Summary
| Project: | Croinor | |
|---|---|---|
| Deposit: | Croinor, Gold Bug | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-2-2017: Monarch Gold Corp. announces an Exploration/Drilling Update report for its Croinor, Gold Bug deposit at the Croinor project. Drilling results incl. 25.0m @ 8.41g/t Au from 29.0m. Montreal, Quebec, Canada, February 2nd , 2017 – MONARQUES GOLD COR | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Donal Trudel (Internal) | |
| ABSTRACT: | Montreal, Quebec, Canada, February 2nd , 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report the latest results for the 10,000-metre drilling program carried out in 2016 on its Croinor Gold deposit, 70 km east of Val-d’Or, Quebec. The Corporation is still awaiting the assay results for the last two exploration holes drilled in the Gold Bug area. Hole CR-16-515 returned two mineralized intersections, one grading 6.74 g/t Au over 2.1 metres, including 24.7 g/t Au over 0.5 metres, and the other grading 11.91 g/t Au over 2.8 metres, including 46.6 g/t Au over 0.6 metres. The hole was drilled on Section 490W and intersected the two veins at 133 and 150 vertical metres (see longitudinal), enabling Monarques to increase its Indicated resource and thus achieve the second objective of its Croinor Gold drilling program. The reported lengths are core lengths, as the true lengths cannot be estimated. High grades were cut to 70 g/t Au, the same grade used in the Croinor Gold deposit resource estimate. “The 2016 drilling campaign on the Croinor Gold deposit is ending on a high note,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “The very encouraging recent results for Croinor Gold have led us to pursue our work in 2017 with a new program of 10,000 metres of drilling. The new program is already underway and is also aimed at increasing the Indicated resource of the Croinor Gold deposit. To achieve that objective, we will have another look at the best intersections of the 2016 program and test deeper targets on the most promising sections. In terms of exploration drilling, we will define our strategy once all the assay results are in, but it is worth noting that the latest results on Gold Bug have confirmed the potential of this new area.” | |
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