News
Margaux Resources Announces Significant Expansion of its Kootenay Arc Project Holdings, Plus High-Grade Gold Grab Sample Results from Sheep Creek and Bayonne
CALGARY, ALBERTA -- (December 13, 2017)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce that it has acquired additional claims to expand the Company’s Kootenay Arc project holdings in southeastern British Columbia. In addition, the Company has received high-grade gold grab sample results from the Sheep Creek and Bayonne properties.
Key Highlights
-
- 1,670 hectares of newly acquired mineral claims; orogenic gold mineralization favourable area
- High-grade gold sample at Sheep Creek including up to 15.5 g/t Au
- 13.0 g/t Au grab sample returned from Bayonne
- New vein discovered at Bayonne
The new acquisitions include 13 mineral claims, totalling 1,670 hectares (an 8% increase in Margaux’s mineral claims holdings), which were attained from a third party for staking costs. The claims are contiguous to the Company’s Sheep Creek, Ore Hill and Jersey properties, as shown on the below map. Margaux Resources’ Kootenay Arc project now includes over 24,500 hectares of mineral tenure.
“2017 is proving to be an exceptional year for exploration on the Company’s Kootenay Arc Project. This year’s efforts have produced significant results and contributed greatly to the identification and delineation of the mineralizing systems,” stated Linda Caron, Vice President of Exploration for Margaux Resources. “The newly acquired claims encompass the extension of the favourable geological setting that hosts the orogenic gold mineralization revealed to date, are highly prospective for additional discoveries and are a further step in the consolidation of a dominant land package.”
Additionally, Margaux has received rock sample results from its fall 2017 work program, as listed in the table below. At Sheep Creek, sampling confirmed high grade gold values from the Motherlode and Bluestone veins, including grab sample values of up to 15.5 g/t Au. And at Bayonne, the sampling returned values of up to 13.0 g/t Au, which represents a newly discovered vein, located 150 m east of the eastern-most point on the Bayonne Main vein.
| Property | Target | Au (g/t) | Ag (ppm) |
| Sheep Creek | Bluestone | 8.51 | 8.6 |
| Sheep Creek | Bluestone | 7.59 | 0.9 |
| Sheep Creek | Motherlode | 9.23 | 1.8 |
| Sheep Creek | Motherlode | 15.50 | 1.7 |
| Bayonne | North Ridge | 13.00 | 22.2 |
Finally, Margaux is excited to announce that the fall 2017 work program is in its last phase of drilling. The Company is currently drilling at its Sheep Creek gold property, with results expected early in 2018.
Tyler Rice, Margaux’s President and CEO stated “We’re pleased with the on-going progress of the drilling on our Sheep Creek gold property and eagerly look forward to the assay results in the new year. The surface grab samples continue to impress us with their high-grade nature and provide multiple drilling targets for 2018.”
Notes
Results reported in this release are grab sample results collected from surface outcrops or from the dumps of historic workings. Grab samples are intended to show the presence or absence of mineralization and are not expected to be representative of average grade. Samples were shipped to ActLabs´ Kamloops, B.C. laboratory for preparation and analysis. Actlabs is an independent laboratory, recognized with expertise in analytical geochemistry and certified with ISO 9001:2008, ISO 17025, CAN-P-1579 certification. At the lab, samples were crushed so that 80% passes through a 10 mesh (2 mm) screen, then a 250 g split of the crushed sample was pulverized to 95% passing 105 microns. All samples were analysed for gold by FA/AA finish on a 30 g sample of pulverized material, and for a multi-element suite by ICP-MS following aqua regia digestion of a 0.5 g sample. For samples returning > 5 g/t Au by FA/AA methods, gold was assayed by FA/gravimetric methods on a 30 g sample. Industry best-practise QA/QC procedures were implemented during the sampling program, including the insertion of analytical blanks and standards at regular intervals.
Qualified Person
Linda Caron, M.Sc., P.Eng, Margaux’s Vice President of Exploration, is the Company’s Qualified Person as defined by NI 43-101 who has reviewed and approved the technical information contained within this press release.
About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The Company is directed by a group of highly successful Canadian business executives and has a fast- growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the 2nd largest tungsten mine in North America.
Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux´s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux´s exploration plans and work commitments, the potential of mineral resources and potential for recovery thereof, as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
Neither the 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.
CONTACT INFORMATION
Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590
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