Monarques Intersects Multiple Gold Veins at Depth on Croinor Gold
QUEBEC CITY, QUEBEC--(Marketwired - Apr 20, 2015) - Monarques Gold Corp. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) (FRANKFURT:MR7) is pleased to report the results of the winter drilling program on its Croinor Gold project, approximately 70 kilometres east of Val-d'Or.
Phase 1 of the 2015 drilling program announced on February 9 was completed on March 17, with 12 holes drilled for a total of 3,984 metres of drilling. The full results for eight of the holes were reported previously, on March 26, 2015, and April 10, 2015. The results of the remaining four holes have now been compiled.
Many significant values were intersected at 670 metres and 680 metres west of the center of the deposit, especially in Hole CR-15-426, where three separate gold zones were identified (from 203 to 207, 214-217 and 231 to 233). Hole CR-15-427 was drilled about 18 metres from CR-15-426 and also intersected the 3 zones (222.3 to 225.3, 228.3 to 229.5 and 246.8 to 247.8). Phase II and Phase III planning work is proceeding as anticipated, with the aim of starting Phase II in early May.
"We are very satisfied with the outcome of Phase 1 of the program," said Jean-Marc Lacoste, President and CEO of Monarques. "The extensions of the Croinor deposit are indeed there along strike and at depth. Our new major 96-metre zone (see section) is by far the biggest breakthrough of this program to date. We are looking forward to Phase II of the program, which will start in a few weeks."
Table of all the Phase I results:
| Hole # | Section | Dip | From (m) | To (m) | Length (m)** | Au (g/t) | |
| CR-15-420B* | 0-E | -72° | 291.5 | 295.5 | 4.0 | 6.73 | VG |
| CR-15-421* | 0-E | -69° | 272 | 275 | 3.0 | 16.01 | |
| Including | 272 | 273 | 1.0 | 34.64 | VG | ||
| and | 274 | 275 | 1.0 | 12.87 | VG | ||
| CR-15-431* | 0-E | -61° | 279.8 | 283.8 | 4.0 | 15.12 | VG |
| Including | 279.8 | 280.8 | 1.0 | 44.18 | |||
| and | 282.8 | 283.8 | 1.0 | 15.74 | |||
| CR-15-430* | 30-E | -78° | 318.4 | 320.6 | 2.2 | 0.60 | |
| CR-15-422 | 70-E | -76° | No significant values | N | |||
| CR-15-423* | 750-W | -70° | 300 | 301 | 1.0 | 1.00 | |
| 326 | 327 | 1.0 | 0.92 | ||||
| CR-15-424* | 750-W | -70° | 248.8 | 249.8 | 1.0 | 4.26 | |
| CR-15-425* | 690-W | -68° | 277 | 278 | 1.0 | 2.05 | |
| CR-15-428* | 680-W | -68° | 179 | 181 | 3.0 | 9.31 | |
| 203 | 204 | 1.0 | 6.70 | ||||
| 211 | 212 | 1.0 | 4.19 | ||||
| 215 | 218 | 3.0 | 2.06 | ||||
| 224 | 225 | 1.0 | 7.36 | N | |||
| CR-15-426 | 670-W | -73° | 182 | 184 | 2.0 | 1.75 | |
| 200 | 202 | 2.0 | 1.53 | ||||
| 203 | 207 | 4.0 | 3.98 | N | |||
| Including | 203 | 204 | 1.0 | 8.18 | VG | ||
| 214 | 217 | 3.0 | 6.76 | N | |||
| 231 | 233 | 2.0 | 5.78 | N | |||
| CR-15-427 | 670-W | -73° | 222.3 | 225.3 | 3.0 | 1.82 | N |
| 228.3 | 229.5 | 1.2 | 3.34 | ||||
| 246.8 | 247.8 | 1.0 | 8.57 | N | |||
| CR-15-429* | 640-W | -68° | 291.1 | 293.3 | 2.2 | 4.12 | |
| 295.1 | 298.3 | 3.2 | 3.13 | ||||
| 335.4 | 337.3 | 1.9 | 0.70 | ||||
| VG= | Visible Gold | ||||||
| N = | New results | ||||||
| * | Results reported in the press releases dated 26 March and 10 April 2015 | ||||||
| ** | The holes were drilled to intersect the veins as perpendicularly as possible so as to approximate their true widths. | ||||||
| True widths are estimated at about 90% of the intersected widths shown. | |||||||
The drillhole parameters can be found at the following link.
Sampling normally consisted of sawing the core into two equal halves along its main axis and shipping one of the halves to Techni-Lab S.G.B. Abitibi Inc. 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. Samples containing gold grains are assayed using the metallic sieve method at the Techni-Lab laboratory in Ste-Germaine-Boulé. Monarques has established a full QA/QC protocol, including the insertion of standards, blanks and duplicates.
The technical content of this press release has been reviewed by Valère Larouche, the Corporation's Chief Geologist and its Qualified Person under Regulation 43-101.
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 million in credits from the Ministère de l'Énergie et des Ressources naturelles.
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contact
Jean-Marc Lacoste
President and CEO
1-888-994-4465 x 201
jm.lacoste@monarquesgold.com
www.monarquesgold.com