- 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.
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 | ||||||
| Indicated Resources | 1,643,000 | 1.86 | 98,051 | |||
| McKenzie Break property5 | ||||||
| Pit Constrained | ||||||
| Indicated Resources | 939,860 | 1.59 | 48,133 | |||
| Underground | ||||||
| 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 | |||
| TOTAL | ||||||
| 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. |
| 3Â Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)
4 Source: NI 43â€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 43â€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. |
Tags: #mining, #smallcapstocks, $TSXV, CSE, gold