CALGARY, ALBERTA -- (April 23, 2018)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is commencing a ground-based geophysical survey (both VLF and Magnetic) on the Company’s Kootenay Arc Zinc District in southern B.C. The 17-line kilometer survey will better characterize a near mine conductive horizon, as identified from a 2009 airborne HeliGEOTEM survey, for subsequent drill testing.
The horizon of interest is 750 m in length and located less than one kilometer from the Company’s past producing Jersey-Emerald lead zinc mine. The conductive horizon occurs within Cambrian aged Laib Formation limestone and dolomite, the host rocks for the Jersey-Emerald mineralization.
This conductor is untested by any previous diamond drilling. A historical soil grid over the region returned elevated zinc in soils, to 2,257 ppm zinc, which are coincident with the airborne conductor. Approximately 450 m south along strike of the conductor, a historic rock sample from banded sphalerite within dolomite returned 16.3% zinc, 0.24% lead and 9.2 ppm silver. A further 450 m on strike to the southeast, a 2017 rock sample collected by Margaux returned 32.8% zinc, 1.2% lead and 20.1 ppm silver.
Two historic drill holes (1994), located 300 m north of the conductive horizon, intersected a zone of semi-massive pyrrhotite within limestone. A 0.9 m drill core sample returned 33.8 ppm gold, 34.4 ppm silver and over-limit values of (>1%) lead and zinc.
“Margaux employs an integrated and multi-disciplinary approach to exploration. This geophysical survey represents another tool for the Company to use,” commented Linda Caron, Margaux’s Vice President of Exploration, “We anticipate that the interpretation of this data will help us refine and prioritize drill targets on the Kootenay Arc Zinc District”.
Except for one grab sample collected by the Company, rock, soil and drill core samples reported in this release are historic samples. Margaux has copies of this historic data, including original analytical certificates. Analytical work for the historic samples was completed by Chemex Labs Ltd (now ALS), a certified analytical laboratory. Multi-element analyses were by ICP-AES while the reported gold assay is by metallic screen, fire assay/gravimetric finish. The drill core interval reported in this release is a core interval. Additional drilling is required to understand the relationship between core interval and true width.
Margaux’s 2017 rock sampling program included QA/QC protocols, including company inserted blanks and analytical standards. The sample reported in this release was a grab sample that was shipped to ActLabs’ Kamloops, B.C. laboratory (ISO 9001:2008, ISO 17025, CAN-P-1579 certification) for preparation and analysis. At the lab, the sample was 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. The sample was analyzed 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. Overlimit zinc and lead assays were also done.
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