1 21,830,000 t at 1.43 g/t Au (0.7g/t Au cut-off); see Margaux news release, September 11, 2019.
NOT FOR DISSEMINATION IN THE UNITED STATES
1 21,830,000 t at 1.43 g/t Au (0.7g/t Au cut-off); see Margaux news release, September 11, 2019.
NEWS RELEASE
Margaux Resources Ltd. Announces 2020 Drill Program at Cassiar Gold Project
and Strengthens Advisory Committee
CALGARY, ALBERTA -- (August 11, 2020)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce
the commencement of its 2020 exploration program at the Cassiar Gold Project in northern British Columbia. Crews
were initially mobilized on May 20 for a three- week campaign to prepare camp and road access and to collect
environmental data. Approvals and permits are now in place to operate the exploration camp during the field
program. The exploration team has returned to site to commence the 2020 exploration program, which will consist
of diamond drilling, geological mapping and sampling. The primary focus of the 5,000 metre diamond drilling
program will be on quality infill, extension, and exploration targets, primarily near the 1 MM oz Taurus resource
area. The drill rig arrived at site on August 10 to commence drilling.
“We are excited to begin drilling on the Cassiar Gold Project, and look forward to delivering results, with a cost -
effective and efficient program.” said Kaesy Gladwin, VP Exploration.
BACKGROUND
The Cassiar Property is a road-accessible, advanced-stage orogenic gold system located in northern British Columbia,
Canada. In June 2019, Margaux announced that shareholders of Wildsky Resources Inc. approved the sale of its 100%
interest in the Cassiar Property by way of an all -share option agreement with Margaux (see Margaux news release
dated June 24, 2019). Final approval of the transaction was granted by the TSX Venture Exchange (“TSXV”) in
November (see Margaux news release dated November 13, 2019).
On the Cassiar Property, gold mineralization occurs along a 15 kilometre corridor. Within this structural corridor,
gold occurs both as discrete high- grade veins and as near -surface low-grade style mineralization. Past production
from the Cassiar Property (primarily 1979-1997) is approximately 920,000 tonnes at an average grade of 11.9 grams
per tonne (g/t) gold, or a total of 350,000 ounces of hard rock gold. During this period, portions of the Cassiar
Property were held by different operators, and product ion was from different mine operations (predominantly
underground) utilizing various mill facilities.
The Cassiar Property has subsequently been amalgamated and now covers 56,000 hectares. It is bisected by Highway
37, with significant existing road access infrastructure and a 30-person camp with grid power.
“We are excited to explore and advance the Cassiar gold project,” commented Marco Roque, CEO. “The program
will add infill to the Taurus 21.8Mt Au inferred resource (1) and explore high- quality exploration targets. We look
forward to updating the market with steady news-flow over the coming months”.
Margaux believes there is good potential for new discoveries of bulk tonnage multi-million ounce gold mineralization
across its Cassiar Gold Property. Numerous known high-grade gold showings on the Cassiar Gold Property have been
tested but only by limited drilling, while the potential for low-grade bulk tonnage deposits has only been investigated
at Taurus, to date.
APPOINTMENT OF ADVISOR
The Company is pleased to Welcome Mr. Doug Kirwan to its Advisory Committee.
Mr. Kirwin is a highly regarded geologist with 50 year’s international exploration experience and has been involved
in a number of significant mineral discoveries. He was the former Executive Vice-President of Ivanhoe Mines and
previously held senior positions with Anglo American and Amax. He has evaluated mineral deposits throughout
the Americas. Asia, Europe and Australia. He has an MSc in mineral exploration from James Cook University where
he is currently an adjunct professor.
Mr. Kirwin was a co-recipient of the 2004 Prospectors and Developers of Canada’s (PDAC’s) Thayer Lindsley Awar d
for Best International Mineral Discovery as a member of the joint discovery team for the super-giant Hugo Dummet
deposit at Oyu Tolgoi in Mongolia.
About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a Canadian gold explor ation company focused on
exploration in British Columbia and is directed by a group of highly successful business executives.
Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux's future plans and
the expectations of management that a stated result or condition will occur. Any statement addressing future events
or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those
anticipated by management at the time of writing due to many factors, the majority of which are beyond the control
of Margaux and its management. In particular, this news release contains forward- looking statements pertaining,
directly or indirectly, to the following: Ma rgaux's exploration plans and work commitments, and economic factors,
business and operations strategies. Although Margaux believes that the expectations reflected in these forward -
looking statements are reasonably, undue reliance should not be placed on them because Margaux can give no
assurance that they will prove to be correct. Readers are cautioned that the foregoing list of risk factors should not
be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in
the documents referenced by this release, as the case ma y be. The Company undertakes no obligation to publicly
update or revise any forward-looking statements except as expressly required by applicable securities laws.
Neither the 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 release.
CONTACT INFORMATION
Margaux Resources Ltd.
Marco Roque
CEO
+852 6691 6295