CALGARY, ALBERTA — (The Newswire – August 22, 2017)
Margaux Resources Ltd. (TSX VENTURE: MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce rock sample results from ongoing work on the Company’s Sheep Creek property, part of Margaux’ Kootenay Arc project in southern British Columbia. A highlight of the sampling is the identification of high grade gold-silver-lead-zinc mineralization, including samples showing 36.4 g/t Au, 1,021 g/t Ag, 33.68% Pb and 13.62% Zn at the Kat showing.
“It is extremely exciting that in our first season we have identified a new high grade vein on the Sheep Creek property that after over 100 years of work in the camp, has not been drilled or previously reported” commented Tyler Rice, President and CEO of Margaux. “Additional ground work is being performed to prepare for a fall drill program that will test the Kat vein and other targets on the property, aiming to further our understanding of these newly identified results.”
The below table shows results received from Company-collected rock samples on the Sheep Creek property, as well as results from character-type rock samples collected by consulting geologist, Bob Lane as part of the independent NI 43-101 report being prepared on the Sheep Creek property.
|8557||Kat||36.40||58.9||2,640||> 5,000||12.00||> 5,000||6.02|
|8566||Kat||12.80||66.3||194||> 5,000||8.57||> 5,000||5.03|
|8559 (1)||Kat||2.14||62.9||683||> 5,000||1.09||> 5,000||2.41|
|8556||Kat||1.20||32.1||9||> 5,000||1.13||> 5,000||0.96|
|3761||Gold Belt 3050||2.20||17.6||18||905||545|
A short historic exploration adit and shaft occur at this site, located in the western part of the Sheep Creek property. There is no past-production from this occurrence, nor any modern exploration work and it is a high priority for follow-up.
(1) 1 metre chip sample
Sheep Creek samples reported in this release were primarily grab samples collected from outcrop or from the dumps of historic workings. Sample weight averaged approximately 2.5 kg. Grab samples are designed to show the presence or absence of mineralization, and results are not necessarily indicative of average grade. QA/QC procedures were implemented in the sampling program and included company-inserted blanks and standards of known gold and lead-zinc grade.
Samples reported in this release include company-collected samples (85xx series) and as well as independent samples (37xx series). Company-collected samples were shipped to ActLabs’ Kamloops, B.C. laboratory (ISO 9001:2008, ISO 17025, CAN-P-1579 certification) for preparation and analysis. Samples were crushed at the lab to 80% passing 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. Lead and zinc assays were done for all samples returning > 5000 ppm Pb or Zn.
Independent samples were shipped to MS Analytical in Langley, B.C. (ISO 19001, ISO/IEC 17025 certification) for preparation and analysis. Samples were crushed at the lab to 70% passing a 10 mesh (2 mm) screen, then a 250 g split of the crushed sample was pulverized to 85% passing 75 microns. All samples were analysed for a multi-element suite by ICP-AES/MS following multi-acid digestion of a 0.2 g split of pulverized material (method IMS-230). Gold analyses were by method FAS-111 (FA/AA finish on a 30 g sample of pulverized material). Samples returning > 10 ppm Au by method FAS-111, were analyzed by method FAS-413 (lead collection fire assay fusion with gravimetric finish). For samples returning >100 ppm Ag by IMS-230, overlimit analyses were by FAS-413. Zinc and lead assays (code ICF-6Zn, ICF-6Pb – 4 acid ICP-AES) were done for all samples returning > 10000 ppm Zn or > 10000 ppm Pb by IMS-230. Overlimit Pb assays were done (code STI-8Pb) were done on samples returning >20% Pb by ICF-6Pb (classical volumetric titration).
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 supervised the sampling program and 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.
Margaux Resources Ltd.
President, CEO and a Director