Monarques Resources Inc.: Drilling Begins on the Lemare Gold Property
February 5, 2013 (Source: Marketwire) Quebec City, QC — Monarques Resources Inc. (TSX VENTURE:MQR) is pleased to announce the beginning of its drilling work on the 100% owned Lemare property located in the Rupert River area in the James Bay region of the province of Quebec.
In fact, the Company commissioned Forages Dibar Inc. to drill 10 to 15 holes on the gold showings for a total of approximately 2,000 meters. The drill targets have been identified using geochemical and geophysical anomalies.
The exploration work conducted in the summer of 2012 had allowed for the identification of a gold bearing structure (Lac de la Chlorite showing with 1.6 g/t Au), located less than two kilometres west of the Lac de la Sillimanite showing (4.7 g/t Au) (see press release dated October 18, 2012). Monarques stripped both sites between October 9, 2012 and October 31, 2012. A total of 145 samples had been collected (grab and channel samples) and 33% of these samples returned anomalous values for Au. The Lac de la Chlorite showing returned 4.8 g/t Au over 0.6 m (see press release dated November 20, 2012).
In addition, during this period, Monarques completed a geochemical survey (humus sampling) covering the area of the two gold showings. A total of 1,072 soil samples were collected and analyzed.
In early 2013, a ground geophysical campaign (using induced polarization and resistivity) was performed by the firm Abitibi Géophysique (in progress at the time of writing). The geophysical anomalies that will be drilled will be confronted with the geochemical anomalies identified.
“This geophysical work will help us to better define the value of the Lemare property and to better understand the gold mineralization occurrences,” commented Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “We hope that the current drilling work will yield results as significant and interesting as those obtained with the stripping and channelling work. We are very optimistic and enthusiastic.”
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The technical sections of this press release have been prepared by Jonathan Lalancette, Eng., emofloyee of Monarques Resources and Qualified Person within the meaning of Regulation 43-101.
Monarques Resources Inc. (TSX VENTURE:MQR) is a mineral exploration company that is exploring for base metals, precious metals including the platinum group elements (PGE) and industrial minerals including rare earth elements (REE) in the Lower James Bay Region, in the province of Quebec.
The forward-looking statements herein involve inherent known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Monarques to be materially different from any future results, performance or achievements expressed or suggested in this press release.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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