- Monarch Gold Corp (TSX:MQR) has released further high-grade assay results from the McKenzie Break gold project in Quebéc
- The latest drill program return the highest-grades thus far
- The results included 32.30 grams per tonne of gold over 7.1 metres and 142.80g grams per tonne over 1.2 metres
- A 1,600m follow-up program will begin drilling at the end of this quarter
- Monarch Gold (MQR) is up 2.7 per cent, with shares currently trading for C$0.19
Monarch Gold (TSX:MQR) has released its latest and highest-grade assay results for the McKenzie Break gold project in Quebéc.
An exploratory drill program has been ongoing throughout the last two years. The latest results are from autumn 2019 and consisted of 1,462 metres of drilling in three holes.
The drill program intersected both high-grade and wide-spread mineralisation.
Highlights from the results include 32.30 grams per tonne of gold over 7.1 metres and 142.80g grams per tonne over 1.2 metres.
The company hopes that these results, when paired with previous high-grade intercepts, suggest an extensive deposit at McKenzie.
Previously, Monarch has estimated 165,608 ounces of indicated and inferred gold on the property. The company has not said whether these latest results are likely to affect the previous estimate.
Jean-Marc Lacoste, President and CEO of Monarch Gold is encouraged by the latest results.
“These are truly the best results we have encountered so far on McKenzie Break, with the discovery of a new high- grade mineralized horizon to the east and below the current resource,” he said.
Lacoste went on to say that a further 1,600m program will begin drilling at the end of this quarter.
The forthcoming program will drill four additional holes to help define the extension of the new mineralisation.
Monarch Gold (MQR) is up 2.7 per cent, with shares trading for C$0.19 at 9:55am.