CALGARY, ALBERTA — (The Newswire – February 21, 2017)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) is pleased to announce that the Company has filed the required applications for multi-year area-based permits for surface diamond drilling, trenching and road building activity on its Jersey-Emerald, Jackpot/Oxide, Sheep Creek and Bayonne properties, located in southeastern British Columbia.
All four properties are historic mine sites, with significant previous disturbance. Where possible, drill holes will be collared within the footprint of the historically disturbed area and the majority of the drilling will be accessible via existing roads. In the eastern part of the Bayonne property, drilling is planned to test a previously undrilled target with no road access. The core produced from the surface drilling will be logged and stored off-site, at Margaux’s core facility on the Jersey-Emerald property. In addition to the surface drilling, mechanical trenches will be dug at the properties to further advance Margaux’s understanding of previously underexplored areas.
“These permit applications allow Margaux to progress with the evaluation of our newly acquired properties as well as continue to evaluate our Jersey-Emerald asset” said Tyler Rice, CEO & President. “It demonstrates the next step we are taking to gain a solid and progressive understanding of our properties, all of which takes us further towards commercialization.”
The proposed work programs are subject to regulatory approval and First Nation engagement. Field work is expected to commence in early May, pending permit approval.
About Margaux Resources Ltd.: Margaux is a publicly traded polymetallic exploration company focused on the exploration and development of previously producing properties in the Kootenay Arc, located in southeastern British Columbia, including the Jackpot/Oxide, Jersey-Emerald, Sheep Creek and Bayonne properties, on which Margaux has options. The Company is directed by a group of highly successful Canadian business executives with proven track records. Margaux trades on the TSX Venture Exchange under the symbol MRL and on the OTCQB under the symbol MARFF.
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