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Monarch Gold Update on McKenzie Break Gold Project

Mining News - Published on Mon, 13 Jan 2020

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Monarch Gold Corporation has reported the assay results for the first four of ten holes drilled during the 2019 diamond drilling program on its wholly owned McKenzie Break gold project, located 25 kilometres north of Val-d'Or, near its Camflo and Beacon mills. The 2019 drilling program, which took place in the fall, initially consisted of seven holes designed to follow up on the positive results from the 2018 program. Three new holes and two hole extensions were subsequently added in the light of the excellent results from holes MK-19-241 and MK-19-242. Monarch Gold CEO Mr Marc Lacoste said "The 2019 results received to date continue to confirm the high expectations we have for McKenzie Break and support our theory that this high-grade lens remains open to the east, west and south and at depth. We are looking forward to seeing the results for the second portion of the program, which tested the potential of the high-grade lens more to the north and at depth, and of the three holes added to test the area around hole MK-19-241. We believe that the results from this program could increase the underground resource at McKenzie Break."

The first portion of the program consisted of four holes drilled in the southern sector of the property to extend the new gold-rich lens intersected at depth by hole MK-18-205 during the 2018 drilling program (20.12 g/t Au over 2.6 metres). Holes MK-19-241, 242, 243 and 244 were collared 50 metres south, east, north and northwest of hole MK-18-205, respectively. MK-19-241 returned significant gold mineralization, including 26.78 g/t Au over 2.1 metres; MK-19-242 intersected 5.51 g/t Au over 4.0 metres, including 14.29 g/t Au over 1.5 metres; MK-19-243, the northernmost hole drilled in the southern sector, returned low assays, with a best result of 0.96 g/t Au over 2.0 metres; and MK-19-244 returned broadly anomalous gold values over three intervals in the target area of 338.0 metres to 381.6 metres down the hole, confirming that the gold system is still present

The significant assays, particularly for holes MK-19-241 and 242, confirmed the continuity of the lens intersected in hole MK-18-205, defining a broad gold-bearing vein that extends along strike and at depth. Given these excellent results, three additional holes were drilled 50 m to the east, west and south of hole MK-19-241, respectively. The assay results for the additional holes are still pending.

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Posted By : Rabi Wangkhem on Mon, 13 Jan 2020
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