- Monarch reports both high-grade and widespread gold assays in a fifth set of results from its 2021-2022
Swanson drilling program. - Hole SW-22-025 intersected an impressive 11.07 g/t Au over 7.40 m within a much wider zone of 1.76 g/t Au over 101.85 m.
- Other notable results include 27.8 g/t Au over 0.60 m, 14.75 g/t Au over 0.5 m and 3.47 g/t Au over 7.3 m, all within a wider intersection of 0.63 g/t Au over 151.7 m in hole SW-22-024.
- The
Swanson deposit is currently tested to a vertical depth of 430 m and remains open at depth. - The
Swanson drilling program was completed onAugust 29, 2022 ; additional results are pending.
The 2021-2022 program is the first drilling done on the property since Monarch Gold acquired it from Agnico-Eagle Mines in 2017. Earlier results of the program, which included 27.79 g/t Au over 10.18 m, 0.92 g/t Au over 225.0 m, 18.18 g/t Au over 13.5 m and 7.83 g/t Au over 8.82 m were reported in press releases dated
The most recently received assay results are for three holes, including those farthest to the northeast (SW-22-024) and north (SW-22-025), which were drilled to test the down-plunge extension to the northeast (see Figure 1, Figure 2 and Figure 3).
Holes SW-22-024 and SW-22-025, located 100 m apart on the surface, intersected multiple gold-bearing zones within a very wide mineralized corridor that has been traced to a vertical depth of 430 m. The highest-grade interval returned by the reported holes within the corridor included a segment grading 11.07 g/t Au over 7.40 m. The mineralized corridor has been defined by diamond drilling and extends down plunge to the northeast.
Cross sectional view of hole SW-22-025
The mineralization is hosted in altered and brecciated basalts interlayered with a syenite intrusion and is bordered on a larger scale by ultramafic rocks in the hangingwall and footwall. The mineralization remains open to the east and down plunge to the northeast. The 2021-2022 program was completed on
“We continue to establish the continuity of the mineralized corridor at depth,” said
Drill results are obtained by sawing the drill core into equal halves along its main axis and shipping one of the halves to ALS Canada in Val-d’Or,
About the
Monarch holds a 100% interest in the
The
The table below shows the combined resources for the
Table 1: Combined resources by category for the
Area (cut-off grade) | Indicated resource | Inferred resource | ||||
Tonnes (t) | Grade (g/t) | Ounces (Au) | Tonnes (t) | Grade (g/t) | Ounces (Au) | |
In-pit (0.75 g/t Au) | 1,864,000 | 1.76 | 105,400 | 29,000 | 2.46 | 2,300 |
Underground (2.40 g/t Au) | 91,000 | 2.86 | 8,400 | 87,000 | 2.87 | 8,000 |
TOTAL | 1,945,000 | 1.82 | 113,800 | 116,000 | 2.76 | 10,300 |
The technical and scientific content of this press release has been reviewed and approved by Louis Martin,
About Monarch
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.
FOR MORE INFORMATION:
1-888-994-4465 | |
President and Chief Executive Officer | jm.lacoste@monarchmining.com |
Mathieu Séguin | 1-888-994-4465 |
Vice President, Corporate Development | m.seguin@monarchmining.com |
www.monarchmining.com | |
Table 2:
Hole | From (m) | To (m) | Width (m)* | Au (g/t) |
SW-22-024 | 276.60 | 428.30 | 151.70 | 0.63 |
Incl. | 276.60 | 278.00 | 1.40 | 2.10 |
And | 283.00 | 285.00 | 2.00 | 7.02 |
And | 301.00 | 303.30 | 2.30 | 3.80 |
And | 327.50 | 328.50 | 1.00 | 3.36 |
And | 335.00 | 336.00 | 1.00 | 3.72 |
And | 388.00 | 395.30 | 7.30 | 3.47 |
And | 394.70 | 395.30 | 0.60 | 27.80 |
And | 427.80 | 428.30 | 0.50 | 14.75 |
SW-22-024 | 495.80 | 496.80 | 1.00 | 2.39 |
SW-22-025 | 300.15 | 402.00 | 101.85 | 1.76 |
Incl. | 300.15 | 301.90 | 1.75 | 7.40 |
And | 312.00 | 314.40 | 2.40 | 2.87 |
And | 323.40 | 324.15 | 0.75 | 3.75 |
And | 327.00 | 328.00 | 1.00 | 3.08 |
And | 347.60 | 348.90 | 1.30 | 7.51 |
And | 357.50 | 360.00 | 2.50 | 4.61 |
And | 367.60 | 375.00 | 7.40 | 11.07 |
And | 389.45 | 390.00 | 0.55 | 9.96 |
And | 399.55 | 401.05 | 1.50 | 4.79 |
SW-22-026 | 257 | 257.5 | 0.50 | 1.40 |
SW-22-026 | 394 | 395 | 1.00 | 3.30 |
*The width shown is the core length. True width is estimated to be between 60% and 70% of core length.
Table 3:
Hole | UTM_E (m) | UTM_N (m) | Azimut (°) | Dip (°) | Length (m) |
SW-22-024 | 310870 | 5381330 | 178 | -60 | 552 |
SW-22-025 | 310778 | 5381380 | 178 | -60 | 558 |
SW-22-026 | 310700 | 5381350 | 178 | -60 | 525 |
Table 4: Monarch combined gold resources
Mineral resource estimates | Tonnes (metric) | Grade (g/t Au) | Ounces | |
Measured Resources | 328,500 | 5.7 | 59,900 | |
Indicated Resources | 956,400 | 5.2 | 159,300 | |
Total Measured and Indicated | 1,284,900 | 5.3 | 219,200 | |
Total Inferred | 818,900 | 4.7 | 122,500 | |
Croinor Gold2 | ||||
Measured Resources | 97,700 | 6.24 | 19,600 | |
Indicated Resources | 805,900 | 6.50 | 168,300 | |
Total Measured and Indicated | 903,600 | 6.47 | 187,900 | |
Total Inferred | 200,100 | 6.19 | 39,800 | |
McKenzie Break3 | ||||
In-pit | ||||
Total Indicated | 1,441,377 | 1.80 | 83,305 | |
Total Inferred | 2,243,562 | 1.44 | 104,038 | |
Underground | ||||
Total Indicated | 387,720 | 5.03 | 62,677 | |
Total Inferred | 1,083,503 | 4.21 | 146,555 | |
In-pit | ||||
Total Indicated | 1,864,000 | 1.76 | 105,400 | |
Total Inferred | 29,000 | 2.46 | 2,300 | |
Underground | ||||
Total Indicated | 91,000 | 2.86 | 8,400 | |
Total Inferred | 87,000 | 2.87 | 8,000 | |
TOTAL COMBINED5 Measured and Indicated Resources Inferred Resources | 666,882 423,193 | |||
1 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 2 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 3 Source: NI 43-101 Technical Evaluation Report on the McKenzie Break Property, 4 Source: NI 43-101 Technical Report and Mineral Resource Estimate for the 5 Numbers may not add due to rounding. |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d089086e-1668-45b6-875c-5c9ba1f6b39f
Monarch Mining Corporation
Swanson Gold Project : Cross sectional view of hole SW-22-025
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