Precious Metals

Monarques Gold Corporation (TSXV:MQR) reported new results from its 30,000-metre 2018 drilling program at the Beaufor Mine. The current results are from nine exploration holes totalling 2,047 metres of drilling on the QF1 and 1700 projects.

Monarques Gold Corporation (TSXV:MQR) reported new results from its 30,000-metre 2018 drilling program at the Beaufor Mine. The current results are from nine exploration holes totalling 2,047 metres of drilling on the QF1 and 1700 projects.

As quoted in the press release:

QF1 project

The QF1 veins lie some 70 metres from the lower contact of Zone Q, the main zone currently in production at the Beaufor Mine. The current program aims to test the continuity of this structure over an extension of about 500 metres in the West, Central and East sectors, outside the known resource.

Four holes totalling 711 metres were drilled in the West sector. All four intersected the QF1 structure, including hole 18-124-92, which intersected 20.62 grams per tonne gold over 3.95 metres, including 111.00 grams per tonne gold over 0.70 metres. This zone consists of two quartz-tourmaline veins 176 centimetres and 24 centimetres thick, containing 1 percent and 15 percent pyrite, respectively, within a chloritized, silicified, albitized granodiorite.

1700 project

Five holes were drilled in the 1700 project area for a total of 1,336 metres. All the holes intersected veins/veinlets and mineralization north of a major shear striking approximately 80° north.

The best results were obtained in holes 18-173-13 and 18-173-15, which returned grades of 12.05 grams per tonne gold over 0.50 metres and 5.10 grams per tonne gold over 3.05 metres. The mineralized intersections consist of quartz-tourmaline veinlets containing trace to 5 percent pyrite.

These holes confirm the vertical and lateral extension of a mineralized lens containing several veins and veinlets near the north contact of a shear, a structure that appears to be similar to the West Shear, known to be the main conductor for the gold at the Beaufor Mine. The western extension of the shear and the mineralized lenses is still not well understood.

Jean-Marc Lacoste, president and CEO, commented:

The results of this first round of drilling in 2018 shows strong gold potential in the Zone Q footwall. This strengthens our sense that the mineral resource can be increased in this area. The next round of drilling, which is now underway, will test the three sectors of the QF1 structure, namely the West, Central and East.

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