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Monarques Gold $ Files a Technical Report for its McKenzie Break #Gold Project M&I resources now stand at over 3.1 million ounces of gold $ $ $ $ $ $IAG $MUX

Posted by AGORACOM-JC at 7:57 AM on Thursday, July 19th, 2018

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  • Monarques Gold combined Measured and Indicated resources now stand at over 3.1 million ounces of gold

MONTREAL, July 19, 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 McKenzie Break gold project. Monarques published a press release on June 14, 2018 (see press release), which summarized the assumptions and key results contained in the technical report. There are no material differences between the assumptions and estimates contained in Monarques’ press release dated June 14, 2018, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarques’ website (see technical report).

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.


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

(g/t Au)
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
Indicated Resources 1,643,000 1.86 98,051
McKenzie Break property5
Pit Constrained
Indicated Resources 939,860 1.59 48,133
Indicated Resources 281,739 5.90 53,448
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
Measured & Indicated Resources 3,151,916
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 15, 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.

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