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Monarques Gold Files a Technical Report for its McKenzie Break Gold Project

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Monarques Gold Files a Technical Report for its McKenzie Break Gold Project

PR Newswire

  • Monarques Gold combined Measured and Indicated resources now stand at over 3.1 million ounces of gold (see table 1 at the end of press release).

MONTREAL, July 19, 2018 /PRNewswire/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce that it has filed on SEDAR a National Instrument 43-101 technical report for its McKenzie Break gold project. Monarques published a press release on June 14, 2018 (see press release), which summarized the assumptions and key results contained in the technical report. There are no material differences between the assumptions and estimates contained in Monarques' press release dated June 14, 2018, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarques' website (see technical report).

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation's qualified person under National Instrument 43‑101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSX.V:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither 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 press release.

Table 1 - Monarques Gold Measured and Indicated Resources



Tonnes
(metric)


Grade
(g/t Au)


Ounces

Wasamac property1







Measured Resources


3.99 million


2.52


323,300

Indicated Resources


25.87 million


2.72


2,264,500

Total Measured & Indicated Resources


29.86 million


2.70


2,587,900

Beaufor Mine2







Measured Resources


74,400


6.71


16,100

Indicated Resources


271,700


7.93


69,300

Total Measured & Indicated Resources


346,200


7.67


85,400

Croinor Gold Mine3







Measured Resources


80,100


8.44


21,700

Indicated Resources


724,500


9.20


214,300

Total Measured & Indicated Resources


804,600


9.12


236,000

Swanson property4







Indicated Resources


1,643,000


1.86


98,051

McKenzie Break property5







Pit Constrained







Indicated Resources


939,860


1.59


48,133

Underground







Indicated Resources


281,739


5.90


53,448

Simkar Gold property6







Measured Resources


33,570


4.71


5,079

Indicated Resources


208,470


5.66


37,905

Total Measured & Indicated Resources


242,040


5.52


42,984

TOTAL







Measured & Indicated Resources






3,151,916


1 Source: Technical Report on the Wasamac Project, Rouyn-Noranda, Québec, Canada, Tudorel Ciuculescu, M.Sc., P.Geo., October 25, 2017, Roscoe Postle Associates Inc.

2 Source: NI-43-101 Technical Report on the Mineral Resource and Mineral Reserve Estimates of the Beaufor Mine as at September 30, 2017, Val-d'Or, Québec, Canada, Carl Pelletier, P. Geo. and Laurent Roy, Eng.

Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)

4 Source: NI 43‐101 Technical Report on the Swanson Project, June 15, 2018, Christine Beausoleil, P.Geo. and Alain Carrier, P.Geo., M.Sc. of InnovExplo Inc.

5 Source: NI 43‐101 Technical Report on the McKenzie Break Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., of Geologica Groupe-Conseil Inc., and Christian D'Amours, P.Geo., of GeoPointCom Inc.

6 Source: MRB et Associés (January 2015)

 

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SOURCE Monarques Gold Corporation

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