News
Margaux Resources Confirms High-Grade Gold in Bayonne Main and A Veins, as Part of its 2017 Bayonne Drill Program
Calgary, Alberta – November 28, 2017 - Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce it has received final results from its fall 2017 diamond drill program on the Bayonne gold property, part of the Company’s larger Kootenay Arc project in southern B.C.
Key Highlights
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- Drilling confirmed high-grade gold in Bayonne Main and A veins, below the limit of historic mining, including 15.31 g/t gold over 1.85m and 12.7 g/t gold over 1.0 m
- First ever drilling on Maggie Aikens vein, with results to 18.2 g/t gold over 0.32 m
“Results from our 2017 drilling program and surface exploration continues to prove to us that while there was historic production at Bayonne, the property still has much more to discover and offer, as indicated by our identification of previously underexplored vein systems, significant strike extensions and high-grade gold intercepts, all of which continue to build on the success of our consolidated Kootenay Arc gold-zinc package,” commented Linda Caron, Margaux’s VP of Exploration.
The Bayonne property hosts several high-grade, steeply dipping gold-bearing orogenic quartz veins hosted by granodiorite. Thirteen holes totaling 2,089 m were drilled on the Bayonne property during 2017, to test 3 separate vein targets. Results have been previously released for 10 holes from the 2017 program (see Company news release October 24, 2017 for further detail), results for the remaining 3 holes are included in the table and map below.
With the exception of hole BA17-09, which was lost before reaching the target depth, all of the 2017 drill holes successfully intersected the vein structure that was targeted by drilling. Elevated gold values (greater than 100 ppb gold) were intersected in vein structures in all drill holes, with values exceeding 1 g/t gold listed in the table below.
Tyler Rice, President and CEO for Margaux stated “We are encouraged that we were able to confirm high-grade gold at Bayonne through our 2017 drill program and now have high-grade gold results in all three veins we were looking to intercept on the property.”
| Hole ID | From (m) | To (m) | Length (m) | Au (g/t) | Ag (ppm) | Pb (%) | Zn (%) | |
| Maggie Aikens Vein | ||||||||
| BA17-011 | 35.50 | 36.50 | 1.00 | 1.40 | 0.3 | |||
| BA17-021 | 32.40 | 34.20 | 1.80 | 5.11 | ||||
| including | 32.40 | 33.20 | 0.80 | 6.39 | 4.3 | |||
| and | 33.20 | 34.20 | 1.00 | 4.09 | 2.1 | |||
| BA17-031 | 45.67 | 47.74 | 2.07 | 4.45 | ||||
| including | 45.67 | 46.32 | 0.65 | 5.52 | 0.9 | |||
| and | 47.42 | 47.74 | 0.32 | 18.20 | 10.7 | 0.57 | ||
| BA17-051 | 51.24 | 51.65 | 0.41 | 5.71 | 2.4 | |||
| Main Vein | ||||||||
| BA17-071 | 123.35 | 124.25 | 0.90 | 3.16 | 25.6 | 1.59 | 1.46 | |
| BA17-081 | 157.70 | 159.55 | 1.85 | 15.31 | 42.3 | 1.67 | 1.11 | |
| including | 157.70 | 158.55 | 0.85 | 31.50 | 79.5 | 3.35 | 2.19 | |
| and | 158.55 | 159.55 | 1.00 | 1.54 | 10.7 | |||
| BA17-09A1 | 168.70 | 169.40 | 0.70 | 3.39 | 8.9 | |||
| A Vein | ||||||||
| BA17-09A1 | 337.00 | 337.40 | 0.40 | 1.02 | 1.4 | |||
| BA17-122 | 162.80 | 163.80 | 1.0 | 12.70 | 22.6 | 1.36 | 0.62 | |
1 previously released drill result
2 newly released drill results
Notes
Results reported in this release are composite, weighted average grades returned from continuous drill core samples across the interval. Intervals reported are core intervals. Further drilling is required to understand the relationship between core interval and true width. After logging, intervals marked for sampling were sawn along the core length, with half of the core placed in bags for analysis and the remaining half core piece returned to the box for reference. 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. For samples returning >5 ,000 ppm Zn or >5,000 ppm Pb, samples were subsequently analyzed using peroxide fusion/ICP-MS techniques. Industry best- practice QA/QC procedures were implemented during the drilling program, including the insertion of analytical blanks and standards at regular intervals, as well as systematic duplicate sampling. Core size wa s NQ2 (50.6 mm = 2-inch core diameter).
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 reg ion 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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