The 20,000-metre diamond drilling program started in March 2018 and is focused on the expansion of the Croinor Gold deposit. The Phase 1 results are from a total of 4,584 metres of drilling in 16 holes. Drilling is ongoing.
The Croinor Gold deposit is hosted in a sheared diorite sill three kilometres long by 60–120 metres wide, striking 295 degrees north and dipping 50–65 degrees to the north. The mineralization is associated with pyrite found within and adjacent to quartz-tourmaline veins.
The goal of Phase 1 was to extend the western part of the deposit and confirm the continuity of mineralization intersected in Hole CR-17-547.
Monarques president and CEO Jean-Marc Lacoste said: “The drill results on Croinor Gold continue to surpass our expectations, particularly in terms of the deposit’s potential at depth.
“Hole CR-18-586, drilled 50 metres west of Hole CR-17-547, returned a 9.4-metre intersection grading 3.08 g/t Au, including 6.61 g/t Au over 3.1 metres, from a vertical depth of 560 metres, 265 metres below the current resource envelope, indicating that the deposit remains open at depth, with wide, continuous mineralization.
“The other good news is that the deposit appears to extend some 180 metres to the northwest (see longitudinal map). All the holes intersected mineralization, including 18.40 g/t Au over 1.6 metres in Hole CR-18-585 and 16.05 g/t Au over 3.1 metres in Hole CR-18-597. We are excited by this outcome of Phase 1, and eager to see the Phase 2 results.”
Sampling normally consists of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory in Val-d’Or for assaying. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish.
Results exceeding 3.0 g/t are re-assayed using the gravity method, and samples containing gold grains are assayed using the metallic sieve method.
Monarques uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates.
The technical and scientific content of this press release has been reviewed and approved by Ronald G. Leber, P.Geo., the Corporation’s qualified person under National Instrument 43-101.
Source: Company Press Release
