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Monarch Gold Corp.
Summary
| Project: | Croinor | |
|---|---|---|
| Deposit: | Gold Bug | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-1-2017: Monarch Gold Corp. announces an Exploration/Drilling Update report for its Gold Bug deposit at the Croinor project. Drilling results incl. 25m @ 8.31g/t Au from 29m. Montreal, Quebec, Canada, January 24th , 2017 – MONARQUES GOLD CORPORATION (“M | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Donal Trudel (Internal) | |
| ABSTRACT: | Montreal, Quebec, Canada, January 24th , 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report the results of Hole CR-16-521, which has returned anomalous to economic grades from a shear zone at least 170 metres long vertically on the Croinor Gold property, 70 km east of Val-d’Or, Quebec. The hole was drilled in the Gold Bug area, which lies less than 500 metres from the Croinor Gold deposit. The largest intersection returned 8.41 g/t Au over 25 metres (see plan view), including 36.1 g/t Au over 3 metres and 39.35 g/t Au over 2 metres. The intersection is shallow, from 29 to 54 metres down the hole. The hole also returned other notable intersections, with 0.47 g/t Au over 28 metres (from 82 to 110 metres), 1.13 g/t Au over 15 metres (from 141 to 156 metres) and 1.81 g/t Au over 3.15 metres (from 165.85 to 169 metres). 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 current 10,000-metre program included drilling on the Gold Bug area to follow up on results obtained in 2016 (see news releases dated January 26 and June 8, 2016). Additional results are pending. “The results for Hole CR-16-521 combined with those from the 2015 program significantly enhance the potential of the Gold Bug area and of the Croinor Gold project as a whole,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “These results support our conviction that the Croinor Gold property remains relatively unknown over its vast 150 km2 area and could well contain other ore deposits like the Croinor Gold deposit.” | |
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