Margaux Resources Commences 4,500m Drill Program Across Three Properties within the Company’s Expansive Kootenay Arc Zinc-Lead-Gold Project
CALGARY, ALBERTA — (The Newswire – August 15, 2017)
Margaux Resources Ltd. (TSX VENTURE: MRL, OTCQB: MARFF) (“Margaux” or the “Company”) is pleased to announce that a diamond drill rig is being mobilized as part of a Phase II, 4,500 m, NQ2-sized drill program on the company’s Kootenay Arc property in southeastern British Columbia. Initial drilling (approximately 1,500 m) will target zinc-lead mineralization on the Jackpot property. Following this, approximately 1,500 m each will be drilled to test gold targets on the Company’s Bayonne (subject to permit approval) and Sheep Creek properties.
“We are understandably excited to begin our first diamond drilling programs on the Jackpot, Bayonne and Sheep Creek properties since we acquired these claims in late 2016 and early 2017. The technical and surface program, that has been in progress over the last 6 months, has increased and solidified our understanding of the properties and we are confident that drilling will demonstrate the upside potential, for both zinc and gold, on the Company’s Kootenay Arc project.” said Tyler Rice, President and CEO of Margaux.
The Company has also contracted Eagle Mapping Ltd. to fly LiDAR and high-resolution ortho imagery over the Jackpot, Bayonne and Sheep Creek properties, to assist in exploration efforts and to provide accurate topographic control for diamond drilling.
In addition, Mr. Ryan Bignucolo will be stepping back from Vice-President of Business Development to Manager of Business Development for Margaux.
Linda Caron, P.Eng, Margaux’s Vice President of Exploration, a Qualified Person as defined by National Instrument 43-101, 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 second 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 receipt of required regulatory and other approvals, 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