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Monarques Gold Corp. (TSXV:MQR) announced results from the first four holes completed as part of a winter drill program at its Croinor gold project. Phase I of the program was finished on March 17, and 12 holes in total were drilled.
Monarques Gold Corp. (TSXV:MQR) announced results from the first four holes completed as part of a winter drill program at its Croinor gold project. Phase I of the program was finished on March 17, and 12 holes in total were drilled.
As quoted in the press release:
Hole CR-15-421 was drilled in the centre of the deposit to test the results of Hole CN-89-135, which intersected 23.98 g/t over 2.76 metres core length (CL). This hole intersected the zone as planned, about 13 m from the Hole CN-89-135 intersection. Two of the quartz veins seen in the intersection contained visible gold: one had six gold grains (between 272.15m and 273m) and the other contained 10 grains of visible gold (between 274.22m and 275m). The average grade obtained was 16.01 g/t over 3 metres CL, including 34.64 g/t over 1 metre. The hole was drilled to intersect the veins as close to perpendicular as possible to approximate their true width. Based on these results, two additional holes were planned and drilled on either side of these two holes, 23 metres away vertically, in order to extend the zone. The results are expected shortly.
Three holes were drilled at the west end of the mining lease (Sections 690-O and 750-O) with the goal of demonstrating the continuity of the target zones. The best result in this area was 9.31 g/t over 3 metres, in Hole CR-15-428.
Jean-Marc Lacoste, president and CEO of Monarques, commented:
The initial results are very encouraging and confirm our understanding of the deposit, as well as the potential for increasing the indicated and inferred resources this year. Monarques has sufficient funding to do nearly 13,000 metres of drilling this year, and these initial results support our strategic drill plan for the project. Obviously, the fact that we intercepted a good 3-m zone containing visible gold, but more importantly confirming a historical hole (CN-89-135) with equally interesting grades and widths, tends to make us very optimistic about the rest of the program, and we are looking forward to the next assay results.
About Monarques:
Monarques is a gold exploration company currently focusing its efforts on the development of gold projects along the Cadillac Break, in the Val-d’Or area of Quebec. Monarques currently has nearly 200 km² of property holdings in the Val-d’Or area, including two mining concessions and one mining lease with over $9.4 million in credits from the Ministère de l’Énergie et des Ressources naturelles.
Click here to read the full Monarques Gold Corp. (TSXV:MQR) press release.Â
