Margaux Resources Announces Surface Rock Sample Results from its Bayonne and Jackpot Properties and Prepares for a 2,000 Metre Drill Program
Margaux Resources Announces Surface Rock Sample
Results from its Bayonne and Jackpot Properties and
Prepares for a 2,000 Metre Drill Program
Calgary, Alberta--(Newsfile Corp. - August 1, 2017) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) ("Margaux" or
the "Company") is pleased to announce the results from initial surface rock sampling on the Company's Bayonne and Jackpot
properties, located within the Kootenay Arc Project near Salmo in Southern British Columbia. The results include high gold
assays from grab samples of up to
27.5 g/t Au
on the Bayonne and widespread zinc mineralization at Jackpot including
20.8%
Zn
from Jackpot Main. Highlights are summarized in the table below.
"Our boots-on-the-ground work is paying off. Margaux's field crews are hard at work validating historic information and applying
new geological ideas to further explore known zones of mineralization and to identify new areas that are untested by any historic
efforts," stated Tyler Rice, President and CEO. "We are encouraged by these gold and zinc results from Bayonne and Jackpot.
By building on these results, through a full understanding of our historical data in combination with new geological knowledge, we
have been able to select our drill targets with confidence, and look forward to our Phase 2 drill program beginning in mid-
August."
Bayonne
High gold assays on the Bayonne property were returned from samples collected along 900 metres of strike on the Main Vein.
Grab sample results include 27.5, 23.3, 18.1, 15.0 and 10.6 g/t Au as well as anomalous silver, zinc, lead and tungsten.
The Bayonne property hosts several high-grade, steeply dipping gold-bearing orogenic quartz veins hosted by granodiorite.
Historic production was from the Main Vein and from the A Vein splay (mainly from the period 1936-1945), and totalled
approximately 82,000 tonnes, at an average grade of 16 g/t Au. Despite the previous mining within the Main workings, early
observations have identified an undeveloped auriferous splay vein.
The Company's modelling of historical work has provided strong indications for an extension of the Main Vein to the east on the
unexplored ground between Bayonne and Margaux's high-grade gold Maggie Aiken's prospect. In addition to several other
underexplored vein systems known on the Bayonne property that Margaux will be investigating in 2017, the Bayonne Project
readily supports the potential discovery for new veins.
Jackpot
On the Jackpot property, 18 km northwest of Bayonne, work has confirmed widespread zinc mineralization in outcrop and in
historic exploration pits and trenches. Results from Margaux's initial surface rock sampling include 20.8% Zn from Jackpot Main,
16.3% Zn from Jackpot West, and 12.7% Zn from the Lerwick zone.
The Jackpot property, encompassing the Jackpot Main, East, West and Lerwick lead-zinc occurrences, has benefitted from
significant historic exploration between 1949 and 1981 including a major 5-year program from Cominco Ltd. from 1973-77. Past
operations entailed approximately 2,000 m of underground workings and 143 surface and underground drill holes totalling more
than 11,000 m.
The Company has compiled all the available historic data and produced a 3D model of the Jackpot East mineralization (refer to
the Company's website for a visualization) which trends 600 m roughly north-south and remains open along trend.
"The Jackpot property is one of those rare instances where a company such as Margaux inherits and is able to capitalize on
over 30 years of advanced exploration with the property remaining pristine and unexploited. There is every indication to expand
the known zone of lead-zinc mineralization and this is just one occurrence in the Company's Kootenay Arc portfolio," stated Tyler
Rice, President and CEO.
Signifying the length potential of the high-grade mineralization, results of 5.95% Zn were also returned from Big Zinc, 3 km along
strike of the Jackpot trend to the north (refer to Company news release dated June 28 detailing the stand-alone Zinc potential for
the Big Zinc zone). Of keen interest at Big Zinc is the presence of elevated gold (0.36 g/t Au) from a broad zone of stockwork
quartz veinlets cutting zinc-mineralized limestone.
"This is not the only newly identified occurrence of gold in the zinc mineralization within the Company's Kootenay Arc Project.
Gold was historically overlooked, not analyzed for and not recovered; representing a significant additional dimension to the
Kootenay Arc Project for both the mineralization in the ground as well as the existing tailings facility," stated Tyler Rice, President
and CEO.
All existing data from the Jackpot and Big Zinc zones is being compiled into a 3D computer model. This will be used to assist in
target identification for an upcoming 2,000 m drill program, due to commence in mid-August 2017.
Sample #
Target
Zn
(%)
Pb
(%)
W
(%)
Ag
(ppm)
Au
(g/tonne)
Bayonne Property
8541
Main Vein
0.46
0.41
13.5
5.60
8542
Main Vein
0.67
1.36
0.746
43.2
23.30
8543
North Vein
6.7
2.57
8544
Main Vein
0.23
0.38
81.5
15.00
8545
Main Vein
0.40
0.55
75.2
27.50
8546
Main Vein
0.09
0.20
21.7
2.84
8547
Main Vein
0.11
0.52
13.1
4.33
8548
Main Vein
1.93
1.02
46.4
18.10
8549
Main Vein
0.12
0.20
0.045
5.1
10.60
Jackpot Property
8508
Lerwick
3.62
0.8
8509
Lerwick
12.70
6.2
8510
Lerwick
6.20
1.3
8511
Jackpot East
6.31
0.66
5.0
8512
Jackpot Main
20.80
4.6
0.12
8513
Jackpot West
16.30
1.5
8514
Jackpot West
10.80
2.1
8515
Jackpot West
11.60
1.2
8516
Jackpot West
5.98
0.20
1.7
8517
Jackpot West
15.30
4.3
8518
Jackpot West
11.40
1.29
7.6
0.10
8521
Big Zinc
2.09
0.5
8522
Big Zinc
1.03
8.8
8526
Big Zinc
2.64
0.9
8528
Big Zinc
1.22
1.1
8530
Big Zinc
5.95
1.4
8533
Big Zinc
1.79
0.8
8535
Big Zinc
1.00
0.6
8537
Big Zinc
1.47
0.5
8538
Big Zinc
0.22
4.0
0.36
Most of the results listed in the above table are grab samples. Where possible, systematic chip sampling of these zones has
now been completed to provide a better understanding of true width and average grade to zones of mineralization. Results for
the systematic chip samples are expected in late-August 2017.
Margaux Resources LTD
Rock Sample Location Map
To view an enhanced version of this image, please visit:
http://orders.newsfilecorp.com/files/2958/28244_a1501564590865_51.jpg
No
tes
Rock samples were grab samples collected from outcrop, float or from the dumps of historic workings. Grab samples are
designed to show the presence or absence of mineralization, and results are not necessarily indicative of average grade.
Sample weight was variable depending on interval, ranging from approximately 1.5
kg
-
8 kg
and averaging about 4 kg.
QA/QC procedures were implemented in the drilling program and included Company-inserted standards of
known gold and
lead-zinc grade. Samples were shipped to ActLabs' Kamloops, B.C. laboratory (ISO 9001:2008, ISO 17025, CAN-P-1579
certification) for preparation and analysis.
Samples were crushed at the
lab
oratory
to 80% passing a 10 mesh (2 mm) screen, then a 250 g split of the crushed sample
was pulverized to 95% passing 105 microns. All samples were analysed for gold by FA/AA finish on a 30-gram sample of
pulverized material, and for a multi-element suite by ICP-MS following aqua regia digestion. For samples returning > 10 g/t
Au by FA/AA finish, samples were re-analyzed using FA/gravimetric finish.
Qualified Person
Linda Caron, M.Sc., P.Eng, Margaux's Vice President of Exploration, is the Company's Qualified Person as defined by NI 43-
101 who supervised the sampling program and who has reviewed and approved the technical information contained within this
press release.
About Margaux Resources Ltd.
Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) is a mineral acquisition and exploration Company focused on the
development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The
Company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of
previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead
mine in B.C. and the second largest tungsten mine in North America.
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, the receipt of required regulatory and other approvals,
and the Company's
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