Calgary, Alberta — October 25, 2017 – Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (“Margaux” or the “Company”) has received initial results from drilling showing broad intervals of zinc mineralization on the Jackpot zinc property, part of the Company’s Kootenay Arc project in southern B.C.
- Broad Near-surface zinc mineralization intersected in drilling from two target zones;
- 61.1 m grading 1.01% zinc (Lerwick Zone);
- 49.2 m grading 1.04% zinc (Main Zone); and
- Results from only two holes received to date.
Nine holes, totaling 1,397 m, were drilled in the Jackpot 2017 drill program. Drilling was within a 500 x 1,000 m area; to test the Jackpot Main, Lerwick and Jackpot East zones. To date, results have been received for 2 holes only (JP17-02 and JP17-05). Broad intervals of zinc mineralization were intersected in both holes, including 61.1 m grading 1.01% Zn at the Main Zone and 49.2 m grading 1.04% Zn at the Lerwick Zone, as highlighted below and on the attached map.
Tyler Rice, President and CEO for Margaux stated “The initial drill results showing such broad mineralization from our Jackpot property are game-changing. We are eagerly awaiting the results from the balance of the 2017 drill program.”
Previous exploration on the Jackpot property targeted high-grade zinc mineralization, with only selective sampling completed. Margaux’s 2017 drill program suggests that, in addition to the known high-grade potential, the property has potential for a large tonnage, low-grade, near-surface zinc resource. The low-grade, bulk tonnage potential of the property has not been previously assessed.
In this part of the Jackpot property, surface chip sampling completed during the Company’s 2017 summer work program returned results including 3.4 m @ 13.35% Zn, 2 m @ 15.58% Zn and 2 m @ 8.22% Zn from the Main Zone, plus 2 m @ 5.92% Zn from the Lerwick Zone (see Margaux’s press releases dated August 18, 2017 and September 25, 2017 for further details).
Results reported in this release are composite, weighted average grades returned from continuous drill core samples across the interval. After logging, intervals marked for sampling were sawn along the core length, with half of the core placed in bags for sampling and the remaining half core piece returned to the box for reference. Samples were shipped to ActLabs’ Kamloops, B.C. laboratory (ISO 9001:2008, ISO 17025, CAN-P-1579 certification) for preparation and analysis. At the lab, samples were crushed 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. For samples returning >5000 ppm Zn, samples were subsequently analyzed using peroxide fusion/ICP-MS techniques. QA/QC procedures were implemented during the drilling program, including the insertion of analytical blanks and standards at regular intervals, as well as systematic duplicate sampling. Core size was NQ2.
Drill intersections are reported as down-hole length and not true width. Additional work will be required to determine true widths.
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 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