- Margaux Resources (MRL) has launched a 2020 exploration program at its Cassiar gold project in northern British Columbia
- The company intends to carry out roughly 5,000 metres of diamond drilling, focusing on infill, extension and exploration targets primarily near the Taurus resource area
- Margaux Resources also plans to undertake a program of geological mapping and sampling
- Exploration crews originally arrived on May 20 this year to prepare the camp, secure road access and collect environmental data
- Margaux Resources (MRL) is currently down 12.5 per cent and is trading at C$0.10 per share
Margaux Resources (MRL) has launched a 2020 exploration program at its Cassiar gold project in northern British Columbia.
The company signed an option agreement with Wildsky Resources in March 2019 to acquire a 100 per cent interest in the project, which covers roughly 60,000 hectares of mineral claims.
Gold mineralisation at the project has been found to occur along a 15-kilometre corridor, which hosts both discrete high-grade veins and near-surface, low-grade mineralisation.
Past production at the property generated approximately 920,000 tonnes between 1979 and 1997 at an average grade of 11.9 grams per tonne of gold, or 350,000 ounces of hard-rock gold.
This occurred under a number of different operators and from several mine operations, predominantly underground, that used various mill facilities.
As such, Margaux’s management believes there is significant potential for new discoveries of bulk-tonnage, multi-million ounce gold mineralisation at the Cassiar Project. A number of high-grade gold showing were previously tested, but only with a limited amount of drilling.
Crews were initially mobilised to the site on May 20 to prepare the exploration camp, ensure road access and collect environmental data. Since then, approvals and permits for the planned exploration work were received.
Now, Margaux intends to carry out an extensive program that’s expected to include 5,000 metres of diamond drilling, as well as geological mapping and sampling.
Drilling efforts will be focused primarily on infill, extension and exploration targets near the one-million-ounce Taurus resources area.
Marco Roque, CEO of Margaux Resources, said he is pleased to be exploring and advancing the Cassiar gold project.
“The program will add infill to the Taurus 21.8-million-tonne gold inferred resource and explore high-quality exploration targets. We look forward to updating the market with steady news-flow over the coming months,” he added.
Margaux Resources (MRL) is down 12.5 per cent and is trading at C$0.10 per share at 1:53pm EDT.