Monarch Gold Corporation has announced new exploration drilling results from Probe Metals Inc. ("Probe") 2019 drill program on the Monique property (the "Property") located near , said a news release on August 27, 2019.
Results from eighteen (18) drill holes, totaling 5,357 metres, were received and indicated new discoveries south and southwest of the A and B gold zones. Probe is now preparing for the 2020 drill program to follow-up on the recent discoveries. Probe may earn a 60% interest in the Property by spending an aggregate ofon exploration before , said the release.
"We are very pleased that one of our projects is being developed with the help of Probe's expertise, and we are delighted with the solid progress made on the Monique property, notably the discovery of a new 500-metre-long gold zone and wide intersections with strong grades," said, President and Chief Executive Officer of Monarch.
"From what we have seen from recent exploration results, we believe that the Monique property and Probe's adjoining Val-d'Or East project could become an interesting area play."
Best assay results from south of the A and B gold zones were from hole MO-19-16 at 184 metres depth (down hole), which returned 5.9 g/t Au over 11.5 metres within a larger interval grading 1.9 g/t Au over 49.5 metres.
Hole MO-19-18 also returned encouraging results at 158 metres depth (down hole) grading 7.6 g/t Au over 10.0 metres. These 2 holes are locatedsouth of the A and B gold zones and intersected a new gold structure (Zone M) along with ten other holes, which all returned significant results between the surface and 230 metres depth (see Table 1).
The new structure is trending roughly parallel to the A and B zones, in an east-west direction, and dips steeply to the north. Mineralization in the area is characterized by 1% to 10% quartz, carbonate and tourmaline veins and veinlets, 1% to 3% pyrite and trace chalcopyrite associated with the veins, with visible gold frequently noted in grey translucent quartz tension veins. Disseminated coarse cubic pyrite is also observed in altered wallrock of the quartz-tourmaline veins.