The Next Orogenic Gold Opportunity In BC
This Margaux Resources profile is part of a paid investor education campaign.*
Margaux Resources (TSXV:MRL) is a gold exploration company focused on a pair of projects in British Columbia, the Cassiar gold project and the Sheep Creek gold district. Both Cassiar and Sheep Creek are orogenic gold projects similar to those found in the Barkerville district of British Columbia. With 22 mines in operation across British Columbia, mining has become essential to the province’s economy, contributing C$9 billion to the provincial economy.
The Cassiar gold project is a road-accessible property in northern British Columbia featuring 60,000 hectares of mineral claims, all of which are in good standing. Historical work has been conducted on both the Taurus bulk-tonnage target and the Table Mountain area. Imperial Metal’s (TSX:III) Red Chris mine, which produced 71.9 million pounds of copper, 36,471 ounces of gold and 133,879 ounces silver in 2019, is located 170 kilometers to the south while Coeur Mining’s Silvertip mine is only 80 kilometers to the northwest.
The Sheep Creek gold district is located in southeastern British Columbia in an orogenic gold district home to historical production of almost 800,000 ounces at an average grade of 14.4 g/t gold. Margaux Resources has consolidated a number of claims in the area, allowing for systematic and modern exploration of the 10-kilometer belt.
Margaux Resources’ Company Highlights
- Owns two highly-prospective orogenic gold properties located in British Columbia, the Cassiar Gold project and the Sheek Creek District
- Cassiar gold project is a 60,000-hectare orogenic gold property with Barkerville-style mineralization
- Taurus target hosts a historical inferred resource of 32.4 Mt at 1.0 g/t gold with a cut-off grade of 0.5 g/t gold.
- Past-production at Cassiar returned over 100,000 ounces of placer gold between 1874 and 1895
- Sheep Creek gold district is home to historical production of 785,000 ounces of gold at an average of 14.4 g/t gold
Margaux Resources’ Cassiar Gold Project
The Cassiar Gold project is a 60,000-hectare land package 100 percent owned by Margaux Resources. In 2019 the company entered into an agreement with Wildsky Resources Ltd. (TSXV:WSK) to acquire the full interest in the property by making staged payments over an 18-month period. Mineralization on the property is analogous to Barkerville-style gold mineralization, speaking to the potential of the property as an orogenic gold district.
The Cassiar project is comprised of two main assets: Taurus, a bulk-tonnage target, and Table Mountain, which features high-grades veins with significant potential. Past-producing underground mines at Cassiar previously targeted the high-grade gold in quartz veins, with over 100,000 ounces of placer gold produced between 1874 and 1895 at Cassiar. The project is road-accessible with grid power available along Highway 37 which bisects the property.
In 2019 Margaux Resources conducted an exploration program on the property, including rock and chip sampling of both documented and previously unknown prospects. Samples were also taken from historic drill cores. A total of 373 rock samples were collected from prospects across the property, returning multi-ounce assay results at Taurus and Lucky. The majority of high-grade samples taken from the property were found in mineralized quartz veins with pyrite. The Taurus target also hosts a historical inferred resource of 32.4 Mt at 1.0 g/t gold with a cut-off grade of 0.5 g/t gold.
“With an existing million-ounce resource base and demonstrated exploration potential across the property, we see numerous opportunities for potential resource growth at Cassiar through extension and exploration,” stated CEO and president Tyler Rice. “This optionality will be a key driver in evolving this district-scale project.”
Moving forward, the exploration team at Margaux Resources intends to continue compiling data in order to develop more high-quality drill targets for the 2020 season. “Margaux has the benefit of decades of accumulated geological data, across a large contiguous property with a demonstrated production history,” said Kaesy Gladwin, Margaux VP Exploration. “We will leverage this asset to refine deposit models and develop targets that we can use to advance the Cassiar project through diamond drilling in 2020.”
Table Mountain is host to a number of high-grade veins that have produced over 350,000 ounces of gold since 1980. Past production at Table Mountain has returned gold ranging anywhere from 20.55 g/t gold at the Eileen-Michelle-Lily vein to 3.42 g/t gold at the Rory vein.
A historical resource estimate was conducted at Table Mountain in 2010, revealing 21,471 indicated tonnes at 18.02 g/t gold (uncut) for 13,650 gold ounces uncut and 65,757 inferred tonnes at 24.30 g/t gold (uncut) for 56,360 gold ounces uncut. The historical estimate was conducted by the previous operator, Pearson and Bakker, and has not yet been verified by Margaux Resources.
Over the next two years, Margaux Resources intends to follow a four-part exploration strategy by compiling additional data for exploration, generating new targets, building strong relationships with the local community and processing tailings to generate cashflow. Moving forward, the company intends to establish a second resource report and validate the initial assay grade for tailings of 1.0 g/t gold.
Margaux Resources’ Sheep Creek gold district
The Sheep Creek gold district is an orogenic gold region that historically produced 785,000 ounces of gold at an average grade of 14.4 g/t gold. In 2017 Margaux Resources consolidated the claims in the Sheep Creek district to enable systematic and modern exploration of the entire property. The veining at Sheep Creek has been shown to be analogous to the mineralization in the Barkerville area, however, the Sheep Creek district remains predominantly under-explored since mining activities stopped in the early 1950s.
Margaux has identified and prioritized a number of drill targets on the Sheep Creek property for bulk-tonnage and high-grade vein work. The company has secured permits to drill for these high-priority targets. Margaux Resources has spent over C$2 million exploring the Sheep Creek property to this point, including the drilling of 34 holes across the property. The company continues to compile historical data while combining it with new 3D models of the geology to improve exploration success.
Margaux Resources’ Management Team
Marco Roque – CEO
- Co-founder of Reyna Silver, a silver exploration company with a portfolio of Mexican silver assets, built around two assets that formed part of MAG Silver’s original IPO
- Mr. Roque is also a co-founder and director of Arabian Shield Resources, a private mining company engaged in the acquisition, exploration, and development of mining assets in the Arabian-Nubian Shield and surrounding regions of the Middle-East.
- A CFA charter holder, earned an MBA from Hong Kong University of Science and Technology and London Business School, a Masters in Finance from Nova School of Business and Economics in Lisbon as well as an undergraduate Management degree from the same school.
Tyler Rice – President & Director
- Over ten years experience in public and private sectors
- Exposure to a wide spectrum of industries including mining, healthcare, real estate and oil & gas, in Canada and overseas
- Chartered Professional Accountant
- Commercial and strong leadership skills with a passion for socially & environmentally responsible exploration
- Specialization in accounting and corporate structuring, community relations, negotiations
Jim Letwin – Chairman & Director
- MBA, Institute of Corporate Directors ICD.D
- Over five years experience in the mining sector
- Specialization in corporate strategy, marketing
Don Nguyen – CFO
Mr. Nguyen is a Chartered Professional Accountant and has been providing financial controller services to private and public companies in the junior mining space.
Ryan Bignucolo – Business Development
- Over 27 years in the mining sector; founder of Northern Haul Contracting construction services
- Business Development Consultant to IAMGOLD since 2011
- Specialization in attracting investors, building global HNWI strategic investors
Christopher Stewart – Director
- Over 25 years as a Mining Engineer & Turnaround Specialist: Kirkland Lake, Liberty Mines & Lake Shore Gold
- President and COO McEwen Mining CAD$800 million market cap
- Previously President & CEO/Treasury Metals, VP Operations/Kirkland Lake Gold, VP Operations/Lakeshore Gold
- Track record for successful new mine advancement and development and optimization of existing mines in Canada and abroad
- Specializing in operational details and efficiency
*Disclaimer: This profile is sponsored by Margaux Resources (TSXV:MRL). This profile provides information which was sourced by the Investing News Network (INN) and approved by Margaux Resources, in order to help investors learn more about the company. Margaux Resources is a client of INN. The company’s campaign fees pay for INN to create and update this profile.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Margaux Resources and seek advice from a qualified investment advisor.