Monarques Resources Announces the Discovery of a Lithium Pegmatite With 1.96% Li2O on 12.0 m on its Lemare Property
QUEBEC CITY, QUEBEC -- (Marketwire) -- 12/11/12 -- Monarques Resources Inc. ("Monarques" or the "Corporation") (TSX VENTURE: MQR) is pleased to announce sampling results obtained during the 2012 exploration campaign on its 100% owned Lemare property, located in the Nemaska region on James Bay territory, Quebec.
Exploration work carried out during summer 2012 has allowed to identify a granite pegmatite dyke (GRAAB showing) containing a considerable amount of spodumene. Six trenches completed in October 2012 have uncovered spodumene pegmatite. The dyke has an apparent thickness of 5 to 14 meters and has been followed for close to 200 meters in length on the surface. Its depth has not been tested yet, but it is outcropping on a steep slope for 5 to 6 meters.
A total of 43 samples have been gathered on 62 meters of channels. Among these samples, 11 show a Li2O content superior to 2%. Results of the channel sampling campaign are shown in the table below.
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Channel Grade % Li2O Length (meters)
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LEM(Li)-12-R1 1.61% 9.5 m
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Including 2.00% 6.0 m
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LEM(Li)-12-R2 1.96% 12.0 m
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Including 2.68% 6.0 m
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LEM(Li)-12-R3 1.74% 10.5 m
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LEM(Li)-12-R4 2.12% 4.8 m
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LEM(Li)-12-R5 1.18% 14.2 m
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Including 1.58% 10.1 m
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LEM(Li)-12-R6 0.42% 10.5 m
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Including 1.12% 3.0 m
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Lemare property is located on the Lac des Montagnes Formation, a volcano-sedimentary belt dating from the Archean, which also hosts the Whabouchi lithium deposit that is 100% owned by Nemaska Lithium Inc. The pegmatite recently discovered by Monarques presents a composition and contents similar to the latter and is located approximately 30km to the east.
"The results of these channel samples operations are promising. They confirm the presence of a spodumene pegmatite similar to the one of the Whabouchi deposit", said Jean-Marc Lacoste, President and CEO of Monarques. "This pegmatitic body definitely deserves more exploration work and Monarques is looking for partners for the continuation of exploration on this showing", added the President.
The technical sections of this press release were prepared by Jonathan Lalancette, Eng., employee for Monarques and qualified person as defined in National Instrument 43-101.
All rock samples were sent for preparation and analysis to the ALS Chemex laboratory in Val-d'Or, Quebec. This laboratory is accredited ISO/IEC 17025: 2005 by the Standards Council of Canada (SCC). All soil samples were sent for preparation and analysis to the Actlabs laboratory in Ancaster, Ontario. This laboratory is accredited ISO/IEC 17025: 2005 by the Standards Council of Canada (SCC). Monarques Resources Inc. applies a rigorous quality control protocol over all of its operations, including the insertion of certified analytical standards, duplicates and blanks and statistical follow-up of the results.
About Monarques
Monarques Resources Inc. (TSX VENTURE: MQR) is a mineral exploration company that is exploring for base metals, precious metals including the platinum group elements (PGE) and industrial minerals including rare earth elements (REE) in the Lower James Bay Region of Quebec.
A detailed map of properties is available on the Corporation web site at http://www.monarquesresources.com/en/Our-Assets
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.
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 release.
Contacts:
Jean-Marc Lacoste
President and CEO
418 614-0627
jm.lacoste@monarquesresources.com
www.monarquesresources.com