In January 2017 Margaux executed option for the acquisition of 100% of the Bayonne property.
Fall 2017 surface exploration confirmed a 50-metre strike extension to the Main vein, to the east beyond the limits of historic mining. The Bayonne Main/A vein system now has a known strike length of 1 km of which gold sample results include 24.6 g/t Au over a true width of 1 m. For full result details please see the September 7, 2017 news release.
Historic production (mainly 1935-1951) from the Bayonne property was 82,000 tonnes at an average grade of 16 g/t Au. Production was from a single narrow, high-grade, steeply dipping quartz vein within granodiorite, and from a splay of this vein.
The Bayonne vein was mined over a strike length of 750 m and to a depth of 150 m. Little exploration has been done on strike to the east or west, although evidence suggests that veining continues in both directions beyond the limits of historic mining.
Prior to Margaux's acquisition, the last major work program on the Bayonne property was in the early 1980’s by Goldrich Resources. Several additional veins are known on the property, which are untested by any drilling.
The Maggie Aikens target was previously an undrilled vein located 3 km on strike to the east from the historic Bayonne workings. A 1995 chip sample from the Maggie Aikens returned 20.5 g/t Au over 3.4 m, while a grab sample from the dump of a historic exploration drift graded 100 g/t Au.
The Bayonne property has the following historic resource1:
Measured & Indicated
Note: The reader is cautioned that a qualified person has not done sufficient work to classify the historical estimate as current resources and Margaux is not treating the historical estimate as current mineral resources.
(1) Grab samples are designed to show the presence or absence of mineralization, and results are not necessarily indicative of average grade. See August 1, 2017 press release for full
1Wells, R.A. and F. O’Grady, 1984: Exploration and Development Proposal, Bayonne Mine Property, for Goldrich Resources Inc.
2017 MargauxResources Bayonne Property