CALGARY, ALBERTA -- (May 7, 2018)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is preparing for exploration work on its Wilson Creek property, part of the Company’s Kootenay Arc Zinc District in southern B.C.
- Exploration to target Sedex-style zinc mineralization on the Wilson Creek property
- Strong zinc soil anomaly, approximately 2,500 m x 600 m in size; and
- Soil anomaly defined by zinc values > 1,000 ppm to a maximum of 9,000 ppm zinc.
The Wilson Creek property is an early-stage target with potential to host sediment-hosted stratabound zinc-lead-silver mineralization. It is underlain by Ordovician Active Formation black argillite, with a fault-bounded block between the crustal-scale Argillite and Black Bluff thrust faults.
Limited historic exploration work (1977-79) in this area was directed at both porphyry molybdenum and tungsten skarn potential. This work, and later soil geochemistry completed in 1997, outlined a strong zinc soil anomaly, approximately 2,500 m x 600 m in size within argillite. The soil anomaly is defined by zinc values exceeding 1,000 ppm. Within this zone of >1,000 ppm zinc in soils, several samples exceeded 5,000 ppm zinc, to a maximum of 9,000 ppm zinc. A 1,000 m x 500 m area, in the west-central portion of the soil anomaly, also contains highly anomalous nickel, vanadium, silver, barium, manganese and cadmium.
The soil anomaly can be seen in the figure below.
A conclusion from the 1979 work (by BP Minerals) was that “the zinc and silver geochemistry returned values so high that they suggest the possibility of a stratabound or replacement lead-zinc-silver deposit in the anomaly area. Further work is recommended to define the source of the anomalies.” (1)
“The Wilson Creek anomaly is one of the largest and strongest zinc soil anomalies ever defined in the Salmo region, exceeding in size and strength anomalies that are associated with the historic Jersey and HB zinc mines” commented Linda Caron, VP Exploration. “It is a high priority target for Margaux Resources, for exploration in 2018.”
Previous workers on the property have reported the presence of syngenetic pyrite and pyrrhotite within the argillite, as well as a 0.4 m concordant massive sphalerite “vein” within a band of limestone within the argillite. Both these observations add support for sediment-hosted zinc mineralization in the target area.
Several late channel airborne electromagnetic (“EM”) conductors, as identified by a HELIGEOTEM survey flown in 2009 (2), correlate well with the Wilson Creek soil anomaly. The HELIGEOTEM survey also revealed a magnetic high, coincident with the EM conductors. Modelling of the airborne geophysical data is underway.
Ground geophysics, geological mapping and rock sampling are planned for 2018, in preparation for drill testing later in the year. Application for a 5-year, area-based drill permit for the Wilson Creek area has been submitted to the Ministry of Energy and Mines.
(1) Bradley, M. and S. Hoffman, 1980. 1979 Geological, Geochemical and Geophysical Report on the M.U.T. (1-6) Group of Mineral Claims, March 31, 1980. Assessment Report 07849.
(2) Dumont, R, 2010. Report on Kootenay Arc, B.C. 2009 HeliGEOTEM® Airborne Geophysical Survey, Geological Survey of Canada, Open Files 6194-6205.
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 gold, zinc 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 is focused on exploration of the Company’s Kootenay Arc Zinc District, and Sheep Creek Gold District.
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, the timing of reporting exploration results, 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