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Monarques Gold $MQR.ca Intersects 43.25 g/t Au over 2.1 Metres and 25.92 g/t Au over 3.4 Metres on its Croinor Gold Project $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 8:59 AM on Thursday, October 4th, 2018

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  • CR-18-636 returned 43.25 g/t Au over 2.1 metres, including 88.60 g/t Au over 1.0 metre in the 125-foot level bulk sample area, and Hole CR-18-647 returned 25.92 g/t Au over 3.4 metres in the 250-foot level bulk sample area.
  • Both these holes have increased the volume of ore planned to be mined. New wireframes for each area are being completed by an external consultant.
  • Continuous strong results warrant an additional 8,300 metres of drilling

MONTREAL, Oct. 4, 2018  – MONARQUES GOLD CORPORATION (“Monarquews” or the “Corporation”) (TSXV: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report additional assay results from the 2018 diamond drilling program at its wholly owned Croinor Gold project 50 kilometres east of Val-d’Or, Québec. The initial 20,000-metre program started in March 2018 and focused on the expansion and infilling of the Croinor Gold deposit. The program was completed in early September with a total of 19,935 metres of core drilled in 89 holes. Drilling continued with one rig on the property and a second drill was added on September 17 to drill an additional 8,300 metres before the winter freeze.

The Phase 3 results are from a total of 6,790 metres of drilling in 36 holes (see longitudinal view). Assays have been received for 77 of the 89 holes drilled and logged (see table below and press releases dated July 10, 2018 and September 5, 2018).

The first 25 holes in the table below are from the two areas targeted for bulk sampling, on the 125-foot level and the 250-foot level of the old mine workings. These holes are infill and contour drill holes for the two zones, with a grid spacing of 10 metres by 10 metres, considering historical holes and holes drilled previously by Monarques. Hole CR-18-636 returned 43.25 g/t Au over 2.1 metres, including 88.60 g/t Au over 1.0 metre in the 125-foot level bulk sample area, and Hole CR-18-647 returned 25.92 g/t Au over 3.4 metres in the 250-foot level bulk sample area. Both these holes have increased the volume of ore planned to be mined. New wireframes for each area are being completed by an external consultant.

Near-mine exploration drilling has consistently returned positive results, with 8 of the 11 holes returning economic assays. Hole CR-18-653, drilled 41 metres up plunge from the nearest planned stope, returned 22.00 g/t Au over 1.1 metres, indicating that the gold system is still open to the west. Hole CR-18-649 is a down dip hole drilled into the host diorite to test the deposit at depth and returned 9.59 g/t Au over 1.0 metre, indicating that the deposit is still open at depth.

“We continue to be impressed by these high-grade results on Croinor Gold, which prompted us to drill an additional 8,300 metres,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “The success of our 2018 drilling program also shows that we have a better understanding of the deposit. This supplementary 8,300-metre drilling program is designed to pass between the planned stopes, where there are no drill results, to increase the tonnage in the Croinor Gold deposit before mining starts, and to drill around the periphery of the deposit to follow up on positive assay results to extend the resource to the west, where it is still open. As I have said before, we believe that the Croinor Gold discovery potential remains essentially untapped.”

Phase 3 drill results from the Croinor Gold project

 

* The width shown is the core length. True width is estimated to be 90-95% of the core length.

** 125=125 Foot Level Bulk Sample; 250=250 Foot Level Bulk Sample; NME=Near Mine Exploration.

*** Holes CR-18-648 and CR-18-649 were drilled down dip, parallel to the diorite, to test for the presence of multiple directions of quartz veining. The width shown is the core length. True width is estimated to be 30-35% of the core length.

 

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.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as five promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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.

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SOURCE Monarques Gold Corporation

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Monarques Gold $MQR.ca Presents the Initial Parameters for the Feasibility Study on its Wasamac #Gold Project $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 9:11 AM on Tuesday, September 25th, 2018

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  • Presented the initial parameters today for the feasibility study to be carried out on its Wasamac gold property by BBA
  • The study, to be completed in December 2018, will include assessment, design, engineering and costing for the mine, the processing plant, the tailings management facility and all the related services and infrastructure required to develop and mine the Wasamac deposit

MONTREAL, Sept. 25, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) presented the initial parameters today for the feasibility study to be carried out on its Wasamac gold property by BBA. The study, to be completed in December 2018, will include assessment, design, engineering and costing for the mine, the processing plant, the tailings management facility and all the related services and infrastructure required to develop and mine the Wasamac deposit.

Monarques is taking a different approach to the project than Wasamac’s previous owner. The Corporation will harness the latest technology and use a top-down rather than a bottom-up mining method in its attempt to put the Wasamac deposit into production at the best possible cost. Furthermore, the Corporation is opting for twin ramps and the use of the Rail-Veyor system underground to haul the mineralized material close to the railway, which will eliminate the hefty capital expenditures associated with building a shaft. The Rail-Veyor system is a promising new technology currently in use at Agnico Eagle’s Goldex project in Val-d’Or (see the Goldex Rail-Veyor system).

The study also assumes a production rate of 6,000 tonnes per day. In addition, the land acquired for the mill and tailings facility provides major advantages as it lies alongside the Ontario Northland railway track, on the other side of the Trans-Canada Highway, farther away from the local communities.

“We are working hard to make Wasamac a success, both economically and for the local communities,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “We want this project to fulfill the economic and environmental criteria and meet the local communities’ requirements, and we are confident that with BBA’s help, we can achieve that goal. We are also keeping open the option of custom milling the ore at one of the sites identified by BBA’s previous study (see map of potential sites).”

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person under National Instrument 43-101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV:MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as five promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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.

Table 1 – Best drilling results on Wasamac

 

Hole Number Length
(metres)		 From
(metres)		 To
(metres)		 True
Width
(metres)		 Au Cut
Grade(1)
(g/t)		 Ag Cut
Grade(1)
(g/t)		 Zone Vertical
Depth of
Intersection
(metres)
WS-11-61 705 544.00 627.00 65.66 2.16 – Main 578
WS-11-65 849 738.00 792.90 46.60 3.45 – Main 713
WS-11-66A 174 507.20 590.00 68.42 2.66 – Main 534
WS-11-72 610 502.00 541.75 31.40 7.28 – Main 513
WS-282-01 616 483.00 563.53 69.47 2.97 – Main 506
WS-282-02 615 476.85 540.00 52.80 6.40 0.85 Main 488
WS-282-03 591 450.20 535.00 71.76 2.83 0.31 Main 470
WS-289-01 597 493.20 567.30 56.70 3.70 – Main 526
WS-292-01 618 537.50 581.00 34.94 4.61 1.19 Main 549
WS-302-02 678 570.00 611.80 29.89 3.70 – Main 590
WS-11-107 531 497.00 502.17 4.01 6.11 – 1 469
WS-11-123 826 703.20 748.00 37.14 2.45 – 1 675
WS-11-74A 870 786.95 826.00 32.88 2.17 – 2 752
WS-390-01 618 526.70 543.70 11.77 3.43 – 2 529
WS-392-02 391 310.00 319.00 7.01 3.80 7.34 2 303
WS-393-01 558 492.60 505.00 9.45 3.37 4.42 2 487
WS-403-03 447 383.80 392.30 7.20 7.12 – 2 355
WS-404-02 480 398.25 411.80 11.11 5.16 0.73 2 384
WS-406-01 406 331.40 346.40 12.11 3.56 – 2 322
WS-11-95 608 550.20 565.80 12.17 4.52 – 3 550
WS-11-100 676 597.80 615.30 12.87 3.63 – 3 600
WS-11-113A 486 431.55 443.00 11.26 2.96 – 3 316
WS-458-02 441 327.35 338.00 7.81 5.19 0.53 3 310
WS-480-01 679 578.00 585.00 5.22 7.09 2.00 4 550
(1) High values are cut at 35 g/t

 

 

Table 2 – Monarques Gold Measured and Indicated Resource

 

Tonnes

(metric)

Grade
(g/t Au)		 Ounces
Wasamac property1
Measured Resources 3.99 M 2.52 323,300
Indicated Resources 25.87 M 2.72 2,264,500
Total 29.86 M 2.70 2,587,900
Croinor Gold mine2
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total 804,600 9.12 236,000
Swanson property3
Indicated Resources (pit constrained) 1,694,000 1.80 98,100
Indicated Resources (underground) 58,100 3.17 5,900
Total 1,752,100 1.85 104,100
McKenzie Break property4
Indicated Resources (pit constrained) 939,860 1.59 48,133
Indicated Resources (underground) 281,739 5.90 53,448
Total 1,221,599 2.58 101,581
Beaufor Mine5
Measured Resources 74,400 6.71 16,100
Indicated Resources 271,700 7.93 69,300
Total 346,200 7.67 85,400
Simkar Gold property6
Measured Resources 33,570 4.71 5,079
Indicated Resources 208,470 5.66 37,905
Total 242,040 5.52 42,984
TOTAL COMBINED
Measured and Indicated Resources 3,157,865

 

1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe Postle Associates Inc.
2  Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)
3 Source: NI 43‐101 Technical Report on the Swanson Project, June 20, 2018, Christine Beausoleil, P.Geo., and
Alain Carrier, P.Geo., M.Sc., of InnovExplo Inc.
4 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc. and Christian D’Amours, P.Geo., of GeoPointCom Inc.
5 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.
6 Source: MRB et Associés (January 2015)

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Monarques Gold $MQR.ca Starts Diamond Drilling Program on its McKenzie Break Property $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 10:35 AM on Tuesday, September 18th, 2018

  • Goal is to increase the 165,608-ounce pit-constrained/underground gold resource
  • Announced the start of a new 8,350-metre diamond drilling program on its wholly-owned McKenzie Break gold property
    • located 25 kilometres north of Val-d’Or, near Monarques’ Camflo and Beacon mills.
    • Drilling started on September 13 with one drill, and a second drill will be added as the work progresses

MONTREAL, Sept. 18, 2018 – MONARQUES GOLD CORPORATION (“Monarques”, “Monarques Gold” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce the start of a new 8,350-metre diamond drilling program on its wholly-owned McKenzie Break gold property, located 25 kilometres north of Val-d’Or, near Monarques’ Camflo and Beacon mills. Drilling started on September 13 with one drill, and a second drill will be added as the work progresses.

McKenzie Break is a high-grade, multiple-narrow-vein gold deposit hosted in the dioritic Pascalis batholith and underlain by porphyritic diorite and mafic and felsic volcanic rocks. On June 14, 2018, the Corporation reported an NI 43-101 pit-constrained resource of 48,133 ounces in the Indicated category and 14,897 ounces in the Inferred category on the property, as well as an underground resource of 53,448 ounces in the Indicated category and 49,130 ounces in the Inferred category, for a total of 165,608 ounces of gold (see press release dated June 14, 2018).

Historical drilling on the property totals 258 holes and 37,750 metres of core, most of which targeted the Green and Orange zones. The average length of the holes was only 150 metres. The current 39-hole drilling program will consist of holes 150 to 350 metres long to test the property’s potential at depth below the known lenses and on the periphery of the Green and Orange zones (see projected drilling map). The peripheral holes represent infill drilling in areas where information is missing, and could lead to an increase in the size of the planned open pit.

“The McKenzie Break property has great exploration potential,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “It has the advantages of being high grade at depth and easily accessible, as the average overburden thickness is only 5 metres, meaning that we could put the project into production relatively quickly. The program is aimed at increasing the property’s pit-constrained resource and exploring its potential at depth.”

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.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV:MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as five promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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.

View original content to download multimedia:http://www.prnewswire.com/news-releases/monarques-gold-starts-diamond-drilling-program-on-its-mckenzie-break-property-300714587.html

SOURCE Monarques Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2018/18/c2592.html

Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist – Communications Specialist, 1-888-994-4465, [email protected], www.monarquesgold.comCopyright CNW Group 2018

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Monarques Gold $MQR.ca Sells its Interest in the Chimo Property to Chalice Gold Mines $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 8:29 AM on Monday, September 10th, 2018

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  • Announced that it has sold its 30% interest in the Chimo property to Chalice Gold Mines Limited (ASX:CHN; TSX:CXN) in consideration of 3 million fully-paid ordinary Chalice shares and a net smelter return (“NSR”) royalty of 0.5-1.5% (0.5% on the claims with pre-existing royalties and 1.5% on all other claims)
  • Chalice is entitled to buy back 0.5% of the NSR royalty from Monarques for $1.0 million at any time

MONTREAL, Sept. 10, 2018 - MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has sold its 30% interest in the Chimo property to Chalice Gold Mines Limited (“Chalice”) (ASX:CHN; TSX:CXN) in consideration of 3 million fully-paid ordinary Chalice shares and a net smelter return (“NSR”) royalty of 0.5-1.5% (0.5% on the claims with pre-existing royalties and 1.5% on all other claims). Chalice is entitled to buy back 0.5% of the NSR royalty from Monarques for $1.0 million at any time.

Previously, Chalice exercised an option in March 2018 to earn a 70% interest in the property under an option and farm-in agreement that called for it to incur $3.1 million in exploration expenditures, make option payments totalling $200,000 and grant Monarques a 1% NSR royalty on certain claims.

“This is a good deal for both companies, as it allows Chalice to consolidate its position in its highly prospective East Cadillac Gold Project and Monarques to keep an interest in this mining play while continuing to focus on its core assets, namely the Wasamac gold project,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV:MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as five promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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.

View original content with multimedia:http://www.prnewswire.com/news-releases/monarques-gold-sells-its-interest-in-the-chimo-property-to-chalice-gold-mines-300709098.html

SOURCE Monarques Gold Corporation

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Monarques Gold $MQR.ca Intersects 8.24 g/t #Gold Over 9 Metres Including 26.38 g/t Au Over 2.6 Metres on its Croinor #Gold Project $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 8:50 AM on Wednesday, September 5th, 2018

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  • Hole CR-18-606 returned 8.24 g/t Au over 9.0 metres, including 26.38 g/t Au over 2.6 metres
  • This intersection lies 328 vertical metres below surface, 54 metres north of and 34 metres below the mineralized intersection of hole CN-88-133, which was used to design the deepest stope in the mining plan

Drilling confirms grades for planned bulk sampling areas and continues to expand the deposit at depth and to the west

MONTREAL, Sept. 5, 2018 – MONARQUES GOLD CORPORATION (“Monarques”, “Monarques Gold” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report additional assay results from the 2018 diamond drilling program at its wholly owned Croinor Gold project 50 kilometres east of Val-d’Or, Québec. The 20,000-metre program started in March 2018 and is focused on the expansion and infilling of the Croinor Gold deposit. The Phase 2 results are from a total of 5,327 metres of drilling in 27 holes (see plan view). Phase 2 drilling is complete, with assays pending, and Phase 3 drilling has started.

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 2 was to extend the Croinor Gold deposit farther west and infill the two areas slated for underground bulk sampling.

Hole CR-18-606 returned 8.24 g/t Au over 9.0 metres, including 26.38 g/t Au over 2.6 metres. This intersection lies 328 vertical metres below surface, 54 metres north of and 34 metres below the mineralized intersection of hole CN-88-133, which was used to design the deepest stope in the mining plan. Hole CR-18-601, drilled on the western part of the Croinor Gold deposit, 84 metres west of the nearest hole (CR-11-401) on the same horizon, returned 5.30 g/t Au over 1.1 metres in an intersection 336 metres below surface. These results show that the deposit is still open both at depth and to the west, and that further drilling is warranted.

Hole CR-18-610 returned 5.67 g/t Au over 7.0 metres just below the 500-foot level drift of the old mine, enlarging a planned stope on this level.

Infill drilling of two areas slated for bulk sampling returned 18.45 g/t Au over 0.9 metres, 12.00 g/t Au over 1.2 metres and 11.25 g/t Au over 1.0 metres from the area on the 125-foot level and 12.50 g/t Au over 1.1 metres, 6.34 g/t Au over 1.2 metres and 4.68 g/t Au over 1.2 metres from the area on the 250-foot level, in addition to other values shown in the table below. These encouraging numbers confirm and expand the two areas planned for bulk sampling on two different levels.  The area on the 125-foot level is in the western part of the deposit and the area on the 250-foot level is near the old shaft in the middle of the deposit.

“Drilling on Croinor Gold continues to generate excellent results,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Like Phase 1, Phase 2 was a success, striking mineralized zones in 26 of the 27 holes, returning a number of high-grade intersections and enabling us to confirm the grades and continuity of the gold structures in the planned bulk samples areas and extend the deposit at depth and to the west. As we await the final results for Phase 2, we have commenced Phase 3 drilling, which in addition to definition drilling on planned stopes in the western sector of the deposit is focused on other promising exploration targets on the 151 km2  Croinor Gold property. From what we know of Croinor Gold to date, we believe that its gold discovery potential remains essentially untapped.”

Phase 2 drill results from the Croinor Gold project

Hole Number Length From To Width* Grade Au
(m) (m) (m) (m) (g/t)
CR-18-592 208 180.5 181.2 0.7 1.66
CR-18-596 91 56.5 58.0 1.5 9.87
Including 57.5 58.0 0.5 26.70
CR-18-598 328 277.0 277.7 0.7 0.64
CR-18-599 111 56.6 57.7 1.1 7.78
CR-18-600 82 Abandoned hole
CR-18-601 436 339.3 340.4 1.1 5.30
CR-18-602 81 51.3 52.1 0.8 0.02
CR-18-603 342 151.8 152.8 1.0 1.40
CR-18-604 202 179.6 180.0 0.4 0.03
CR-18-605 97 57.0 58.0 1.0 4.09
CR-18-606** 637 333.5 342.5 9.0 8.24
Including 333.5 336.1 2.6 26.38
346.7 347.3 0.6 3.95
CR-18-607 292 175.0 177.4 2.4 2.00
Including 175.5 176.0 0.5 3.12
CR-18-608 193 132.2 133.2 1.0 0.41
CR-18-609 208 112.3 113.2 0.9 0.13
CR-18-610 250 177.0 178.0 1.0 7.30
180.0 181.0 1.0 5.36
189.0 196.0 7.0 5.67
Including 189.0 192.0 3.0 7.01
199.0 199.8 0.8 7.58
CR-18-611 223 188.0 189.0 1.0 29.50
CR-18-612 300 99.8 100.8 1.0 35.90
CR-18-613 142 74.5 75.5 1.0 0.66
CR-18-614 55 38.7 39.3 0.6 0.16
CR-18-615 181 38.85 40.9 2.05 9.66
Including 40.0 40.9 0.9 18.45
93.5 94.5 1.0 2.35
112.0 113.0 1.0 7.67
175.0 176.35 1.35 3.41
CR-18-616 181 60.4 61.6 1.2 6.34
66.2 67.4 1.2 4.68
CR-18-617 130 36.8 37.6 0.8 0.46
CR-18-618 199 73.3 74.0 0.7 4.54
CR-18-619 151 28.0 29.2 1.2 12.00
32.8 34.8 2.0 6.60
CR-18-620 70 39.0 41.2 2.2 6.72
Including 39.0 40.0 1.0 11.25
CR-18-621 85 66.5 67.6 1.1 12.50
CR-18-622 52 42.0 43.0 1.0 3.07
* The width shown is the core length. True width is estimated to be 90-95% of the core length.
** Hole CR-18-586 was drilled down dip, parallel to the diorite, to test for the presence of multiple directions of quartz veining. The width shown is the core length. True width is estimated to be 30-35% of the core length.

 

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.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV:MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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.

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Monarques Gold $MQR.ca Provides an Update on its Production Activities $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 6:09 PM on Thursday, August 30th, 2018

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  • Production activities at the Beaufor Mine will be temporarily suspended as of December 14, 2018, and the mine will be placed on care and maintenance.
  • The Corporation will continue its exploration activities at the Beaufor Mine in order to increase its gold resource over the longer term, given the many high-grade results obtained since the end of 2017.
  • Camflo’s custom milling operations, which reported another consecutive increase in revenues in the fourth quarter of more than 31%, will not be affected.
  • The Corporation will focus its efforts on developing and completing the feasibility study of its core asset, the Wasamac gold deposit, which contains measured and indicated resources of 2,587,900 ounces of gold (see Table 1 at the end of this release).
  • The Corporation has acquired land adjacent to the Wasamac project, with more than 1 km strategically located along the Trans-Canada Highway and the Ontario Northland Railway.
  • Monarques Gold has sold its 2% net smelter return royalty in the East Amphi property to Canadian Malartic GP for $250,000.

MONTREAL, Aug. 30, 2018 - MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) announced today that production activities at the Beaufor Mine will be temporarily suspended as of December 14, 2018. The suspension is primarily due to the low grades of the ore mined at Beaufor in recent quarters, combined with the persistent weakness in the price of gold and difficulties recruiting qualified manpower in the region. As a result, the mine’s workforce will be cut to around ten employees who will be assigned to care and maintenance of the mine and its facilities.

“This decision was necessary for the future of the Corporation,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “With the persistent weakness in the gold price and lower-than-expected grades, operations at the Beaufor Mine have been challenging in the last two quarters, a situation that had to be corrected at all costs. Over the coming quarters, we will be looking for ways to improve the mining grade while pursuing our exploration activities, which have generated very promising results. Our goal is to restart the Beaufor Mine as soon as we are able to ensure that our operations will be profitable.”

“We will also step up our efforts to develop Monarques’ main asset, the Wasamac gold deposit, which, by using the latest technology, has the potential to become a mine. We will soon issue an update on the status of the Wasamac feasibility study, where we are seeing some very encouraging developments. In terms of operations, it is important to underscore that our custom milling operations at the Camflo mill are growing every quarter and are expected to continue contributing positively to our results,” Mr. Lacoste added.

Exploration program and strategy at the Beaufor Mine

The new exploration strategy at the Beaufor Mine will aim to grow the high-grade gold resource over a longer-term horizon, in order to ensure greater operating profitability.

The many factors leading the Corporation to continue exploring at Beaufor, which has produced more than 1.1 million ounces over its lifetime, include the multiple high-grade results obtained since the end of 2017 and the fact that the mine still has excellent exploration potential along strike and at depth.

Along these lines, the Corporation has obtained new results from its 2018 drilling program. The results are for a total of 3,220 metres of drilling in 14 exploration holes. Nine of the holes intersected mineralization, including hole 18-150-68A, which returned 10.38 g/t Au over 7.65 metres, including 100.50 g/t Au over 0.50 metres in the QF1 vein. The QF veins generated other significant results, including 84.80 g/t Au over 1.65 metres, 59.45 g/t Au over 0.50 metres, 58.30 g/t Au over 0.50 metres, 32.51 g/t Au over 1.2 metres and 26.50 g/t Au over 0.50 metres. The drill results are summarized in Table 2 at the end of this release.

Acquisition of strategic land adjacent to the Wasamac project

On August 24, 2018, Monarques acquired a property next to the Wasamac project to serve as the site of the project’s mining facilities. Located further away from the local community, the property has the added strategic advantage of including a stretch of more than 1 kilometre along the Trans-Canada Highway and the Ontario Northland Railway, easing transportation logistics for the mined material.

Sale of the East Amphi property royalty to Canadian Malartic GP

On August 21, 2018, the Corporation sold its 2% net smelter return royalty on the East Amphi property to Canadian Malartic GP for the sum of $250,000. The royalty was among the assets acquired from Richmont Mines but did not fit into the Corporation’s development plans.

Quality control and qualified person

Sampling normally consists of sawing the core into two equal halves along its main axis and shipping one of the halves to Val-d’Or for assaying at the ALS Geochemistry laboratory, which is fully accredited under ISO 17025. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 10.0 g/t are re-assayed using the gravity method. Certified standards and blanks are inserted into the sampling stream for quality control purposes.

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, P.Eng., the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV:MQR) is a mining company focused on pursuing growth through its large portfolio of high-quality gold projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor Mine, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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.

Table 1 – Monarques Gold Measured and Indicated Resource

Tonnes
(metric) 		Grade
(g/t Au)		 Ounces
Wasamac property1
Measured Resources 3.99 M 2.52 323,300
Indicated Resources 25.87 M 2.72 2,264,500
Total 29.86 M 2.70 2,587,900
Croinor Gold mine2
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total 804,600 9.12 236,000
Swanson property3
Indicated Resources (pit constrained) 1,694,000 1.80 98,100
Indicated Resources (underground) 58,100 3.17 5,900
Total 1,752,100 1.85 104,100
McKenzie Break property4
Indicated Resources (pit constrained) 939,860 1.59 48,133
Indicated Resources (underground) 281,739 5.90 53,448
Total 1,221,599 2.58 101,581
Beaufor Mine5
Measured Resources 74,400 6.71 16,100
Indicated Resources 271,700 7.93 69,300
Total 346,200 7.67 85,400
Simkar Gold property6
Measured Resources 33,570 4.71 5,079
Indicated Resources 208,470 5.66 37,905
Total 242,040 5.52 42,984
TOTAL COMBINED
Measured and Indicated Resources 3,157,865
1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe Postle Associates Inc.
2 Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)
3 Source: NI 43‐101 Technical Report on the Swanson Project, June 20, 2018, Christine Beausoleil, P.Geo., and Alain Carrier, P.Geo., M.Sc., of InnovExplo Inc.
4 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc. and Christian D’Amours, P.Geo., of GeoPointCom Inc.
5 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.
6 Source: MRB et Associés (January 2015)

 

Table 2 – Summary of exploration drilling results at the Beaufor Mine

Project Hole From
(m)		 To
(m)		 Length
(m)		 Grade
(g/t Au)		 Zone/Vein
QH Veins

Zone Q

QF Veins

(East sector)

 18-150-67a 296.70 297.20 0.50 8.76 N
372.60 373.10 0.50 25.55 QH
409.25 410.90 1.65 84.80 QF
incl. 409.75 410.40 0.65 209.00
466.85 467.35 0.50 20.93 QF
472.80 473.35 0.55 11.83 QF1
495.80 496.30 0.50 26.50 QF
18-150-68a 375.15 375.95 0.80 61.75 QH
391.05 391.80 0.75 7.67 QH
403.50 405.00 1.50 11.86 QH2
408.15 408.65 0.50 10.44 QH
483.60 484.10 0.50 59.45 QF
498.15 505.80 7.65 10.38 QF1
incl. 498.15 498.65 0.50 17.03
incl. 501.35 501.85 0.50 22.98
incl. 505.30 505.80 0.50 100.50
518.85 520.60 1.75 6.25 QF
QF Veins

(Centre sector)

 18-137-40 19.40 20.00 0.60 5.30 QF
23.00 23.50 0.50 58.30 QF
24.60 25.15 0.55 3.80 QF
27.80 28.80 1.00 2.95 QF
143.90 144.40 0.50 2.63 QF
167.45 167.95 0.50 2.13 QF
18-137-41 21.40 21.90 0.50 2.40 QF
39.40 39.90 0.50 8.90 QF
63.40 63.90 0.50 19.58 QF
253.85 254.50 0.65 11.58 QF
18-137-42 – QF1
18-136-84 12.00 14.00 2.00 5.96 QF
23.90 25.10 1.20 32.51 QF
incl. 23.90 24.40 0.50 70.65
QF Veins

(West sector)

 18-117-46 – QF1
18-117-47 58.25 60.00 1.75 2.22 QF1
incl. 59.50 60.00 0.50 5.52
18-117-48 – QF1
18-117-49 – QF1
18-117-50 – QF1
18-117-51 54.85 56.05 1.20 6.73 QF1
incl. 54.85 55.45 0.60 10.85
173 18-173-18 304.20 305.20 1.00 7.25 F
incl. 304.20 304.70 0.50 13.18
18-173-19 281.00 281.50 0.50 3.62 Between D-F
282.00 283.00 1.00 9.59 Between D-F
309.30 309.80 0.50 10.43 Between D-F
364.60 365.10 0.50 2.11 F
443.80 444.30 0.50 3.97 –
QH: True width corresponds to approximately 85% of the core length.
QF/QF1: True width corresponds to approximately 60-95% of the core length.
173: True width corresponds to approximately 75% of the core length.

 

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CLIENT FEATURE: Monarques Gold $MQR.ca A PRODUCER With $10M In Quarterly Revenues $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 2:31 PM on Tuesday, August 28th, 2018

Why Monarques Gold?

Q4 Highlights (June 30th)

  • Monarques produced 4,695 ounces of gold in its fourth quarter
  • Recorded revenues of $10.0 million in the fourth quarter, from the sale of 4,589 ounces of gold at an average price of $1,609 per ounce (US $1,246), combined with revenue from custom milling, which was up 31% for the quarter.
  • Reported an initial set of results for its 2018 drilling program at the Beaufor Mine. The results were for nine holes totalling 2,047 metres of drilling on the QF1 and 1700 projects (see press release dated July 17, 2018).

FULL DISCLOSURE: Monarques Gold Corp. is an advertising client of AGORA Internet Relations Corp.

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CLIENT FEATURE: Monarques #Gold $MQR.ca A PRODUCER With $10M In Quarterly Revenues $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 2:20 PM on Monday, August 20th, 2018

 

 

MQR: TSX-V

Why Monarques Gold?

  • A gold producer with the Beaufor Mine (gold production of 19,562 ounces in 2016; source Richmont 2016 annual report) located in one of the best mining jurisdictions in Canada.
  • A large portfolio of mining assets, including the Beaufor Mine, two mills (Camflo and Beacon), two advanced projects (Wasamac and Croinor Gold) and eight exploration projects covering more than 240 km2 in the Abitibi region.
  • Upside potential and leverage to the gold price with the Wasamac project.
  • NI 43-101 proven and probable reserves of 162,790 ounces of gold, measured and indicated resources of 1.76 million ounces and inferred resources of 1.67 million ounces
  • Over 150 highly experienced, qualified employees will join the Monarques team.
  • Strong financial position, with cash of $18.2 million

Q4 Highlights (June 30th)

  • Monarques produced 4,695 ounces of gold in its fourth quarter
  • Recorded revenues of $10.0 million in the fourth quarter, from the sale of 4,589 ounces of gold at an average price of $1,609 per ounce (US $1,246), combined with revenue from custom milling, which was up 31% for the quarter.
  • Reported an initial set of results for its 2018 drilling program at the Beaufor Mine. The results were for nine holes totalling 2,047 metres of drilling on the QF1 and 1700 projects (see press release dated July 17, 2018).

FULL DISCLOSURE: Monarques Gold Corp. is an advertising client of AGORA Internet Relations Corp.

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Monarques Gold $MQR.ca Produces 4,695 Ounces of #Gold and Generates $10 million in Revenue in its Fourth Quarter $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 9:09 AM on Thursday, August 16th, 2018

Monarquesgold hub large

  • Strong growth in revenue from custom milling operations, which rose more than 31%.
  • Feasibility study ongoing for the Wasamac gold deposit (measured and indicated resources of 2,587,900 ounces of gold), based on proven Rail-Veyor material transport technology.
  • Results of resource estimates for the McKenzie Break and Swanson deposits bring Monarques’ total combined measured and indicated resource to more than 3.15 million ounces of gold (see Table 1 at the end of this release).

MONTREAL, Aug. 16, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT: MR7) is pleased to report its production results and other highlights for the fourth quarter ended June 30, 2018. Amounts are in Canadian dollars unless otherwise indicated.

Production highlights

  • Monarques produced 4,695 ounces of gold in its fourth quarter, down 5% from 4,932 ounces the previous quarter.
  • The Corporation recorded revenues of $10.0 million in the fourth quarter, from the sale of 4,589 ounces of gold at an average price of $1,609 per ounce (US $1,246), combined with revenue from custom milling, which was up 31% for the quarter.
  • Monarques reported an initial set of results for its 2018 drilling program at the Beaufor Mine. The results were for nine holes totalling 2,047 metres of drilling on the QF1 and 1700 projects (see press release dated July 17, 2018).

“The highlights of the quarter were the strong growth in our custom milling operations and the start of our feasibility study on the Wasamac deposit,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Our custom milling operations at the Camflo mill grew significantly, enabling us to offset some of the decline in production at the Beaufor Mine and generate fourth quarter revenues of $10 million. We expect to maintain the production rate at Camflo in the coming quarters.”

“We also started several projects during the quarter, including the Wasamac feasibility study, which is based on the proven Rail-Veyor system, a material transport technology that has led to dramatically lower operating costs at other major mines. Given the current gold market, we will obviously be boosting our efforts to assess the options and technologies that allow us to advance the world-class Wasamac project and put the deposit into production at the lowest possible cost.”

Production statistics

Quarter ended
June 30, 2018		 Nine months ended
June 30, 2018
Beaufor Mine

(since being acquired from Richmont Mines on October 2, 2017)
Ore processed (tonnes) 30,523 98,394
Gold recovery (%) 98.70 98.76
Ounces produced 4,695 15,071
Ounces sold 4,589 14,856

 

Corporate highlights

  • On May 31, 2018, the Corporation announced that it had retained BBA to conduct a feasibility study on its Wasamac gold project. The study will cover the assessment, design, engineering and costing of the mine, mill, tailings management facility and all related services and infrastructure needed to develop and mine the Wasamac deposit. The new feasibility study will be based on an upgraded measured and indicated resource of 2,587,900 ounces of gold (see press release).
  • On June 14, 2018, the Corporation reported the results of a mineral resource estimate for its McKenzie Break gold project 35 km north of Val-d’Or, Québec (see press release).
  • On June 20, 2018, Monarques reported the results of a mineral resource estimate for its Swanson gold project 65 kilometres north of the Beacon mill (see press release).
  • On July 10, 2018, Monarques reported new assay results from the 2018 diamond drill program at its wholly owned Croinor Gold project 50 kilometres east of Val-d’Or, Québec. The 20,000-metre diamond drilling program, which started in March 2018, is focused on the expansion of the Croinor Gold deposit. The Phase 1 results were from a total of 4,584 metres of drilling in 16 holes (see press release).
  • On August 14, 2018, Monarques announced that it has repaid the US $4 million senior secured gold loan borrowed from Auramet International LLC (see press release).
  • As at June 30, 2018, the Company had more than $15 million in cash.

Current project timelines

The following is a summary of the Corporation’s key projects, as well as their timelines:

  • Drilling programs at the Beaufor Mine and at Croinor Gold. Some results are expected soon.
  • BBA feasibility study on the Wasamac deposit. The results are expected in December 2018.

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, P.Eng., the Corporation’s qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

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.

Table 1 – Monarques Gold Measured and Indicated Resources

Tonnes
(metric)		 Grade
(g/t Au)		 Ounces
Wasamac property1
Measured Resources 3.99 million 2.52 323,300
Indicated Resources 25.87 million 2.72 2,264,500
Total Measured & Indicated Resources 29.86 million 2.70 2,587,900
Beaufor Mine2
Measured Resources 74,400 6.71 16,100
Indicated Resources 271,700 7.93 69,300
Total Measured & Indicated Resources 346,200 7.67 85,400
Croinor Gold Mine3
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total Measured & Indicated Resources 804,600 9.12 236,000
Swanson property4
Pit Constrained
Indicated Resources 1,694,000 1.80 98,100
Underground
Indicated Resources 58,100 3.17 5,900
Total Indicated Resources 1,752,100 1.85 104,100
McKenzie Break property5
Pit Constrained
Indicated Resources 939,860 1.59 48,133
Underground
Indicated Resources 281,739 5.90 53,448
Total Indicated Resources 1,221,599 2.58 101,581
Simkar Gold property6
Measured Resources 33,570 4.71 5,079
Indicated Resources 208,470 5.66 37,905
Total Measured & Indicated Resources 242,040 5.52 42,984
TOTAL
Measured & Indicated Resources 3,157,865
1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe Postle Associates Inc.
2 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.
3 Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)

4 Source: NI 43-101 Technical Report on the Swanson Project, June 20, 2018, Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc.

5 Source: NI 43-101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc., and Christian D’Amours, P.Geo., of GeoPointCom Inc.

6 Source: MRB et Associés (January 2015)

 

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SOURCE Monarques Gold Corporation

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Monarques Gold $MQR.ca Files a Technical Report for Its Swanson #Gold Project $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX

Posted by AGORACOM-JC at 9:26 AM on Friday, August 3rd, 2018

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  • Final technical report shows an increase of 6,049 ounces in the Indicated category and 183 ounces in the Inferred category, which totals 1,752,100 tonnes at 1.85 g/t Au for 104,100 ounces of gold in the Indicated category and 74,000 tonnes at 2.96 g/t Au for 7,100 ounces in the Inferred category.
  • Monarques Gold combined Measured and Indicated resources now stand at over 3.15 million ounces of gold (see table 1 at the end of press release).

MONTREAL, Aug. 3, 2018 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has filed on SEDAR a National Instrument 43-101 technical report for its Swanson gold project. Monarques published a press release on June 20, 2018 (see press release). Following the process of writing the technical report and validation, the following changes were made to the resource table (see Table 1): an increase of 6,049 ounces in the Indicated category and 183 ounces in the Inferred category. The report is also available on Monarques’ website (see technical report).

Table 1 – Swanson Maiden Mineral Resource Estimate for a combined open pit and underground scenario at a cut-off of 0.8 g/t Au (in pit) and 2.7 g/t Au (underground)

Area Indicated Resources Inferred Resources
Tonnes (t) Grade Au
(g/t)		 Ounces Au Tonnes (t) Grade Au
(g/t)		 Ounces Au
In-Pit 1,694,000 1.80 98,100 17,400 2.53 1,400
Underground 58,100 3.17 5,900 56,600 3.10 5,600
TOTAL 1,752,100 1.85 104,100 74,000 2.96 7,100
Notes to Accompany Mineral Resource Table:
(1) These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
(2) The mineral resource estimate follows 2014 CIM definitions and guidelines for mineral resources.
(3) Results are presented in situ and undiluted and considered to have reasonable prospects for economic extraction.
(4) The estimation encompasses four zones with a minimum true thickness of 2.5 m using the grade of the adjacent material when assayed or a value of zero when not assayed.
(5) High-grade capping of 30 g/t Au (4 g/t Au for the dilution envelope) was applied to assay grades prior to compositing grade for interpolation using an Ordinary Kriging interpolation method based on 1.5 m composite and block size of 3 m x 3 m x 3 m, with bulk density values applied by lithology (g/cm3): I2 = 2.78; I4O, V3, V4 = 2.90, and OVB = 1.5.
(6) The estimate is reported for potential scenario combining open pit and underground at cut-off grades of 0.8 g/t Au (open pit) and 2.7 g/t Au (underground). The cut-off grades were calculated using a gold price of USD1,296/oz, a CAD:USD exchange rate of 1.28, and the following parameters (CAD): (a) Open pit scenario: mining cost $4.94/t; processing cost $27.00/t; G&A $4.00/t, pit slope of 50° during Whittle optimization; (b) Underground scenario (CAD): mining cost $90.00/t; processing cost $27.00/t; G&A $10.00/t. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rate, mining cost, etc.)
(7) The number of metric tons was rounded to the nearest hundred and the metal contents are presented in troy ounces (tonne x grade / 31.10348).
(8) InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue not reported in this Technical Report that could materially affect the mineral resource estimate.

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation’s qualified person and by Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc., all of whom are qualified persons as defined by NI 43-101..

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

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.

Table 1 – Monarques Gold Measured and Indicated Resources

Tonnes
(metric)		 Grade
(g/t Au)		 Ounces
Wasamac property1
Measured Resources 3.99 million 2.52 323,300
Indicated Resources 25.87 million 2.72 2,264,500
Total Measured & Indicated Resources 29.86 million 2.70 2,587,900
Beaufor Mine2
Measured Resources 74,400 6.71 16,100
Indicated Resources 271,700 7.93 69,300
Total Measured & Indicated Resources 346,200 7.67 85,400
Croinor Gold Mine3
Measured Resources 80,100 8.44 21,700
Indicated Resources 724,500 9.20 214,300
Total Measured & Indicated Resources 804,600 9.12 236,000
Swanson property4
Pit Constrained
Indicated Resources 1,694,000 1.80 98,100
Underground
Indicated Resources 58,100 3.17 5,900
Total Indicated Resources 1,752,100 1.85 104,100
McKenzie Break property5
Pit Constrained
Indicated Resources 939,860 1.59 48,133
Underground
Indicated Resources 281,739 5.90 53,448
Total Indicated Resources 1,221,599 2.58 101,581
Simkar Gold property6
Measured Resources 33,570 4.71 5,079
Indicated Resources 208,470 5.66 37,905
Total Measured & Indicated Resources 242,040 5.52 42,984
TOTAL
Measured & Indicated Resources 3,157,865
1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe Postle Associates Inc.
2 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine as at September 30, 2017, Val-d’Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.
3 Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)

4 Source: NI 43‐101 Technical Report on the Swanson Project, June 20, 2018, Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc.

5 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc., and Christian D’Amours, P.Geo., of GeoPointCom Inc.

6 Source: MRB et Associés (January 2015)

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