QUEBEC CITY, QUEBEC–(Marketwired – Sept. 10, 2015) – MONARQUES GOLD CORP. (“Monarques” or the “Corporation”) (TSX VENTURE:MQR)(FRANKFURT:MR7) is pleased to announce that it conducted two geophysical surveys, in May and July 2015, on its Croinor Gold project, which lies approximately 70 kilometres east of Val-d’Or. Based on the results from the two surveys, they have generated nine exploration targets (see photo).
“These targets give us an indication of the exploration potential of our Croinor Gold property,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “The geophysical surveying work was made possible by SIDEX’s Field-Action 2015 financing program,” he added.
The two surveys were carried out by Abitibi Geophysics using the induced polarization (IP) method, which measures rock resistivity and chargeability. While traditional IP allows a penetration depth of 70 metres, the two techniques used in this case allow for much deeper penetration.
The first survey was a IPower3D type survey, which allows readings to a depth of 700 metres. It covered the portion of the known deposit and the area north of it (western extension of the Bug Lake showing). Six targets were identified outside the deposit, with the same characteristic profile as the deposit.
The second survey was an OreVision type survey, which allows readings to a depth of 300 metres. It targeted the “Bug Lake” and “Trench 2” showings, both located near the Croinor deposit (Bug Lake about 700 metres east-northeast (ENE) and Trench 2 some 100 metres farther along). The survey covered an area of ΓÇïΓÇï800 metres by 1,000 metres and was aimed at establishing the continuity of the showings below the 150-metre level (both to the east and west of the known showings). It identified three targets: one in the western extension of the Bug Lake showing, another near the north hangingwall of the diorite and a third within the Croinor diorite, 1.2 km east of the Croinor shaft. This last target lies 250 metres below surface.
A number of the targets identified will be drilled in the coming weeks during Phase III of the 2015 program.
The geophysical surveys were carried out thanks in part to SIDEX’s “Field Action 2015” program.
The technical and scientific content of this press release has been reviewed and approved by Valère Larouche, the Corporation’s Chief Geologist and its Qualified Person under National Instrument 43-101.
Monarques is a gold exploration company currently focusing its efforts on the development of gold projects along the Cadillac Break, in the Val-d’Or area of Quebec. Monarques currently has nearly 200 km² of property holdings in the Val-d’Or area, including two mining concessions and one mining lease with over $9 million in credits from the Ministère de l’Énergie et des Ressources naturelles.
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.
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