Margaux Resources Announces Results of its Fall 2016 Drill Program
NEWS RELEASE
Margaux Resources Announces Results of its Fall 2016 Drill Program
CALGARY, ALBERTA -- (The Newswire – February 15, 2017)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announces
the results from the fall 2016 drill program at the Jersey Emerald property (the “Property”), located near Salmo in
southeastern British Columbia. Margaux completed 894 m of drilling in 6 holes in the 2016 program. Drilling was
north of the Emerald lead-zinc mine, beyond the limits of any historic mining on the Property. The first three holes
were drilled to test a gold exploration target, while the final 3 holes were drilled approximately 150 m to the south,
to test a lead-zinc target.
Drill hole specifications are summarized below:
Hole Easting Northing Elevation
(m) Azimuth Dip Depth
(m)
E1601 484040 5439852 1406 240 -54 270
E1602 484040 5439852 1406 238 -61 273
E1603 484040 5439852 1406 207 -66 258
E1604 483912 5439693 1398 43 -49 33
E1605 483915 5439698 1399 89 -44 22
E1606 483916 5439675 1408 89 -64 23
Holes E1601 to E1603 followed-up high grade gold intercepts from Margaux’s 2014 drill program (hole E1411: 24.98 g/t Au
over 10.2 m; hole E1433: 68.3 g/t Au over 0.65 m - see Margaux news releases dated November 6, 2014 and January 15,
2015 for full results). Drilling in 2016 was designed to provide information regarding the style, orientation and continuity of
gold mineralization in this area. Drilling confirmed that gold mineralization occurs in late-stage steeply-dipping siliceous
dykes that cross-cut stratigraphy. Within the siliceous dykes, gold is strongly associated with bismuth and tellurium. Two
broad low-grade intercepts were returned from hole E1601. Hole E1602 intersected two narrow intervals of high grade gold
mineralization, including 0.25 m grading 59.1 g/t Au. Intervals listed are core intercepts.
“These gold intercepts, coupled with the Company’s recently announced option agreements for the nearby Sheep Creek
and Bayonne properties, support Margaux’s diversification as a polymetallic lead-zinc, tungsten and gold exploration
company, operating within an area rich in both mineral endowment and in infrastructure,” stated Tyler Rice, President and
CEO.
Results of significance from holes E1601 - 03 are summarized in the following table.
Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
E1601 195.77 201.78 5.01 0.73 11.76
including 195.77 196.26 0.49 0.12 1.96
196.26 196.77 0.51 3.81 5.53
196.77 197.44 0.67 0.10 34.80
198.44 199.44 1.00 0.02 0.06
199.44 200.78 1.34 0.22 0.41
200.78 201.78 1.00 1.29 31.20
and 213.00 220.94 7.94 0.62 0.39
including 213.00 214.00 1.00 1.81 0.20
214.00 214.92 0.92 0.32 0.01
214.92 215.92 1.00 0.26 0.26
215.92 216.92 1.00 0.35 0.31
216.92 217.55 0.63 0.33 0.73
217.55 218.43 0.88 0.37 0.83
218.43 218.94 0.51 0.01 0.01
218.94 219.94 1.00 0.28 0.32
219.94 220.94 1.00 1.42 0.78
E1602 181.15 181.40 0.25 9.79 4.92
and 199.12 199.37 0.25 59.10 31.60
Drilling has tested th is zone over a strike length of 40 m and a vertical distance of approximately 75 m. The zone
remains open in all directions and is a high priority target for further drilling. A review of historic drilling suggests
that other siliceous dykes with associated gold mineralization exist on the Property which are similarly high priority
targets for follow up.
Holes E1604 to E1606 were shallow holes, collared approximately 150 m to the south of holes E1601-03, to test near-surface
lead-zinc mineralization on-strike to the north of the historic Emerald Pb-Zn mine. Drilling was in the vicinity of a short early
1900’s exploration drift and was designed to test the continuity of lead-zinc mineralization exposed underground and to
better understand post-mineral faults that truncate and offset the mineralized zone. Results of significance from holes
E1604-06 are summarized below. As above, intervals listed are core intercepts.
Hole ID From
(m)
To
(m)
Interval
(m)
Pb
(ppm or %)
Zn
(ppm or %)
E1604 8.80 10.46 1.66 0.06% 1.53%
including 8.80 9.64 0.84 1,100 2.38%
9.64 10.46 0.82 9 6,640
E1605 3.66 6.03 2.37 3.30% 1.90%
including 3.66 3.94 0.28 27.57% 10.65%
3.94 5.03 1.09 637 5,310
5.03 6.03 1.00 463 9,370
and 8.03 11.07 3.04 0.53% 4.50%
including 8.03 9.03 1.00 9 1.325%
9.03 10.24 1.21 68 3.42%
10.24 10.82 0.58 220 9.76%
10.82 11.07 0.25 6.38% 10.8%
Margaux’s geological team has been working at compiling a unified, coherent database of the historic drill and
underground information for the Jersey -Emerald property. A detailed review of historical information from the
Jackpot-Oxide property is also underway, with diamond drilling planned in 2017 to confirm and expand upon
historically drilled lead-zinc mineralization.
Quality Assurance and Quality Control (“QA/QC”) Procedures
Intervals listed in this news release are core intervals. Where weighted average grades are listed, individual sample
lengths and assays are also provided. Further drilling is required to determine the relationship between core interval
and true thickness. Sample intervals were determined by mineralization and geology, but generally ranged from 0.25
to 1.5 meters. QA/QC procedures were implemented in the drilling program, and included Company-inserted blanks
and standards of known gold grade. Core was sawn, with quarter-core samples delivered to ALS Minerals’ Kamloops
laboratory for preparation. Analysis was at ALS’s North Vancouver laboratory. ALS is an ISO 9002 certified laboratory.
Samples were prepared by ALS’s standard rock prep package, method PREP-31 (crush entire sample to >70% -2 mm,
split off up to 250 g and pulverize split to >85% passing 75 microns). Analysis for gold was by method Au -AA25 (fire
assay/AAS, 30 g sample) and for multi -element suite, including silver, by method ME -MS41 (multi-element ICP-MS
and ICP-AES analysis following aqua regia digestion). Lead and zinc assays were by method OG62 (4 acid digestion
followed by ICP/AES-AAS analysis) with overlimit Pb assays by method Pb-VOL70 (classical volumetric assay).
Qualified Person
Linda Caron, P.Eng, Margaux’s Vice President of Exploration, a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the technical information contained within this press release.
About Margaux Resources Ltd.: Margaux is a publicly traded polymetallic exploration company focused on the
exploration and development of previously producing properties in the Kootenay Arc, located in southeastern British
Columbia, including the Jackpot/Oxide, Jersey -Emerald, Sheep Creek and Bayonne properties, on which Margaux
has options. The Company is directed by a group of highly successful Canadian business executives with proven track
records. Margaux trades on the TSX Venture Exchange under the symbol MRL and on the OTCQB under the sy mbol
MARFF.
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: Margaux's exploration plans and work commitments, business and operations
strategies. 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 accompanying this
release, as the case may 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.
Tyler Rice
President, CEO and a Director
(403) 537-5590