Margaux Resources Ltd. Announces Bayonne Drilling Results; Including Bulk Tonnage Style Gold Mineralization and Discrete High-Grade Gold Veins
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NEWS RELEASE
Margaux Resources Ltd. Announces Bayonne Drilling Results; Including Bulk
Tonnage Style Gold Mineralization and Discrete High-Grade Gold Veins
CALGARY, ALBERTA -- (October 22, 2018)
Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce
that results have been received for the 12 hole (2 ,628 m) drill program recently completed on the Bayonne gold
property, part of the Company’s Sheep Creek Gold District in southern B.C. Based on these results, a drill has been
mobilized to the property for follow-up drilling.
Highlights
• All of the 2018 drill holes intersected veining;
• Vein intercepts from drilling include:
o 1.40 m @ 39.43 g/t gold, 131.2 g/t silver
o 0.88 m @ 16.88 g/t gold, 60.2 g/t silver
o 1.14 m @ 10.85 g/t gold, 23.7 g/t silver
• Low-grade, bulk tonnage potential indicated, with drill results including:
o 12.22 m @ 2.89 g/t gold, 20.5 g/t silver
o 9.17 m @ 1.01 g/t gold
o 12.92 m @ 0.55 g/t gold
• 1 km known strike extent to vein system
• Follow-up drilling to commence shortly
“Our 2018 drill program showed that the Bayonne property can host lower grade, bulk tonnage style mineralization
in addition to discrete high-grade gold veins. We are encouraged with the results to date. The combination of these
two styles of mineralization makes this a very strong target,” stated Margaux’s President and CEO, Tyler Rice.
The Bayonne property hosts several high -grade, steeply dipping gold -bearing orogenic quartz veins. Historic
production from the prop erty (primarily from the period 1936 to 1946) was approximately 82,000 tonnes grading
16.0 g/t Au (gold) and 45.9 g/t Ag (silver), or a total of 42,169 ounces of gold. All historic mining was from the Main
and A veins which were the subject of the 2018 dri ll program. The Main-A vein system has been traced on surface,
in underground workings and by drilling, for a strike length of 1,000 m and remains open on strike to the west.
The Company’s 2017 drill program confirmed that the Main and A veins, and high-grade gold values, continue at
depth below the historic Bayonne mine workings , with results including 1.85 m at 15.31 g/t Au and 1.0 m at 12.7
g/t Au (see M argaux news release November 28, 2017). As shown in the figure below, the 2018 drill program
included step-out drilling to follow-up on these areas, as well as exploration drilling in the eastern portion of the vein
system, which was untested by any previous drilling. Detailed results from the recent drill program are tabulated
below.
Drilling shows that the Bayonne vein system changes in character from west to east. In the western portion of the
vein system, mineralization occurs as discrete, shear -hosted, gold -bearing veins ; d rill holes BA18 -06 to BA18-12
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tested this portion of the vein system. The Bayonne veins also appear to change in character with depth, with strong
gold values and increasing copper values at depth.
Of note are results from holes BA18 -09, -10, -11 and -12 (grading 10.85 g/t Au over 1.14 m; 39.43 g/t Au over 1.40
m; 16.88 g/t Au over 0.88 m and 5.63 g/t Au over 0.98 m respectively). These four holes were 30 to 50 m step -outs
from BA17-12 intercept (1 m @ 12.7 g/t Au), targeting the A vein below the level of historic mining. The mineralized
shoot intersected by these holes remains open, to the east, west, and to depth.
“In orogenic vein systems, gold mineralization is concentrated in shoots within the vein system. Our 2018 drill
program has identified one such shoot in the Bayonne s ystem. We are excited to remobilize the drill rig to the
property, to explore this shoot with further drilling and particularly to attempt to trace the mineralization to depth,
where gold grades appear to be increasing,” stated Linda Caron, VP Exploratio n for Margaux Resources.
Drill holes BA18 -01 to BA18-05 were drilled in the eastern portion of the vein system, which was untested by any
previous drilling; here the vein splays and horsetails into a series of narrow veinlets, within a broad zone of strong
alteration, with elevated gold values across the zone of alteration.
Figure 1 Bayonne 2017 and 2018 drill program
Hole BA18 -03 intersected a wide zone of strong carbonate -sericite altered granodiorite with multiple narrow,
mineralized quartz veins. A 12.22 m interval through the zone of alteration and veining graded 2.89 g/t Au, 20.5 g/t
Ag, 1.04% Pb and 0.55% Zn, as shown in the table below. This represents the first time that low-grade, bulk-tonnage
style gold mineralization has been intersected on the property and represents a quality target for follow-up testing.
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Table 1 2018 Bayonne Drilling Results
Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
Pb
(ppm)
Zn
(ppm)
BA18-03 169.84 169.94 0.10 4.71 7.0 924 0.51%
BA18-03 178.55 178.71 0.16 4.54 4.2 0.18% 0.41%
BA18-03 192.13 204.35 12.22 2.89 20.5 1.04% 0.55%
including 192.13 192.28 0.15 16.55 32.7 7,834 7,336
192.28 192.71 0.43 3.92 3.7 1,264 1,087
192.71 192.90 0.19 1.92 5.0 1,642 2,143
192.90 193.25 0.35 0.48 6.5 1,719 2,993
193.25 195.24 1.99 0.01 0.1 12 47
195.24 195.62 0.38 1.77 2.2 626 1,123
195.62 196.03 0.41 0.30 3.6 1,122 1,514
196.03 198.12 2.09 0.00 0.1 14 46
198.12 199.38 1.26 0.18 2.2 383 411
199.38 199.93 0.55 0.24 4.0 1,280 1,015
199.93 200.31 0.38 1.88 31.7 12,700 18,400
200.31 201.37 1.06 2.02 28.9 12,800 17,800
201.37 202.26 0.89 25.10 170.0 108,000 27,800
202.26 202.77 0.51 2.43 15.9 4,996 9,619
202.77 204.00 1.23 1.02 14.5 3,996 5,220
204.00 204.35 0.35 4.95 38.6 2,187 1,359
BA18-04 138.28 140.34 2.06 1.75 0.8 107 174
BA18-04 176.50 189.42 12.92 0.55 1.1 265 375
including 176.50 177.61 1.11 0.11 0.4 42 216
177.61 177.74 0.13 10.57 10.6 1,941 3,305
177.74 177.86 0.12 2.29 3.5 708 53
177.86 179.70 1.84 0.10 0.4 81 115
179.70 181.52 1.82 0.01 0.1 29 46
181.52 183.34 1.82 0.00 0.1 5 43
183.34 183.97 0.63 2.75 0.8 197 241
183.97 184.13 0.16 0.65 11.6 4,069 2,355
184.13 184.50 0.37 0.01 0.2 21 49
184.50 184.60 0.10 5.00 36.8 11,800 20,200
184.60 186.11 1.51 0.02 0.2 25 56
186.11 186.35 0.24 0.12 5.2 1,451 584
186.35 186.45 0.10 2.59 3.7 1,029 83
186.45 186.58 0.13 0.03 1.1 24 35
186.58 188.32 1.74 0.88 0.7 98 335
188.32 188.72 0.40 0.31 1.9 284 683
188.72 189.42 0.70 1.20 1.1 133 192
BA18-05 139.33 148.50 9.17 1.01 3.4 871 773
including 139.33 139.84 0.51 1.65 10.4 3,423 2,518
139.84 140.15 0.31 0.98 4.0 921 1,113
140.15 140.41 0.26 2.85 8.6 1,827 3,544
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Hole ID From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
Pb
(ppm)
Zn
(ppm)
BA18-05
continued 140.41 140.75 0.34 14.97 11.6 1,930 1,983
140.75 143.05 2.30 0.31 1.9 451 676
143.05 145.77 2.72 0.46 3.3 692 473
145.77 148.50 2.73 0.11 2.0 701 373
BA18-06 155.28 156.30 1.02 1.69 2.0 251 580
BA18-07 166.59 168.35 1.76 1.89 7.5 0.25% 0.81%
including 166.59 167.55 0.96 1.73 5.9 1,795 1,641
167.55 167.83 0.28 5.72 21.0 6,311 34,200
167.83 168.35 0.52 0.13 3.3 1,613 6,116
BA18-08 146.80 147.15 0.35 3.13 85.6 0.98% 1.74%
BA18-09 153.95 155.09 1.14 10.85 23.7 0.99% 1.35%
including 153.95 154.52 0.57 1.63 18.4 9,997 4,081
154.52 154.96 0.44 23.43 33.5 11,600 29,300
154.96 155.09 0.13 8.72 13.5 4,133 1,273
BA18-10 204.96 206.36 1.40 39.43 131.2 4.42% 6.30%
including 204.96 205.17 0.21 4.93 510.0 111,800 214,500 + 6.23% Cu
205.17 206.17 1.00 45.57 49.5 19,700 31,500
206.17 206.36 0.19 45.24 143.0 98,700 61,100
BA18-11 213.20 214.08 0.88 16.88 60.2 1.82% 2.51%
including 213.20 213.78 0.58 29.01 100.0 30,200 41,000
213.78 214.08 0.30 0.19 7.2 2,205 4,465
BA18-12 148.12 149.10 0.98 5.63 68.74 1.08% 2.16%
including 148.12 148.45 0.33 1.30 83.0 377 8,519
148.45 149.10 0.95 7.83 61.5 970 11,900 + 2.81% Cu
All results greater than 3 g/t Au, or greater than 1 g/t Au over 1 m, or greater than 0.5 g/t Au over more than 10 m
are included in the above table. Intervals reported are core intercepts. Additional drilling is needed to understand
the relationship between core intercept and true width of the mineralization.
Notes
Results reported in this release are drill core samples. After logging, intervals marked for sampling were sawn along
the core length, with half of the core placed in bags for sampling and the remaining half core piece returned to the
box for reference. Samples were shipped to MS Analytical Laboratory in Langley, B.C. (ISO 17025:2005 certification)
for preparation and analysis. At the lab, samples were crushed to 70% passing a 10 mesh (2 mm) screen, then a 500
g split of the crushed sample w as pulverized to 85% passing 75 microns. All samples were analysed for gold and a
multi-element suite by method IMS -132 (ICP -MS analysis following aqua regia digestion of a 40 g sample of
pulverized material). For samples returning > 0.2 g/t Au by IMS-132, the sample was re-analysed by method FAS-111
(fire assay/AAS finish of a 30 g sample). For samples returning > 10 g/t Au by FAS-111, subsequent gold assay was
done by method FAS -415 (fire assay/gravimetric finish of a 30 g sample). For samples returning o verlimit Ag (> 100
g/t Ag), Pb (> 10,000 ppm Pb), Zn (> 10,000 ppm Zn) or Cu (>10,000 ppm Cu) by IMS-132, samples were assayed for
that element by method ICF-6xx (ore grade assay by ICP-ES, following 4 acid digest).
Margaux Resources follows a rigorous QA/QC procedure for all drill core samples, including the insertion of analytical
blanks and standards at regular intervals, as well as systematic duplicate sampling. Core size was NQ2. Intervals
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reported in this news r elease are core intervals. Additional drilling is required to fully understand the difference
between core intercept and true width.
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 has reviewed and approved the technical information contained within this press release.
About Margaux Resources Ltd.
Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration company focused on
gold and zinc exploration in the Kootenay Arc, in the southeastern region of British Columbia, and directed by a
group of highly successful Canadian 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 in volves 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 potential of mineral
resources and potential for recovery thereof, the timing of reporting exploration results, as well as other market
conditions and economic factors, 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