CALGARY, ALBERTA — (Marketwired) — 12/02/14 — Margaux Resources Ltd. (TSX VENTURE: MRL) (“Margaux” or the “Company”) is pleased to release results from holes E1412 through to E1423 from the Company–s 2014 core drilling program at the Jersey-Emerald Tungsten Property (the “Property”), located near the town of Salmo in south-eastern British Columbia.
Drilling is currently continuing on the Property, extending the program from the original drill program that comprised 5,740 metres in 32 holes. Drilling is focussed on the East Emerald Tungsten target.
Highlights from holes E1412 to E1423 include:
Core samples continue to be received at the laboratory and analysis is ongoing. The composites for tungsten (WO3) for holes E1412 to E1423 are shown in Table 1.
Table 1: Composites for drill holes E1411 to E1423
On November 5, 2014, Margaux released the results from the first 10 of the 32 holes drilled. Highlights from the first 10 holes include:
Note: The true widths of mineralization are likely less than the drilled lengths presented above.
Drilling continues to identify broad zones of mineralized skarn that contain significant tungsten.
Gold
On November 6, 2014, Margaux released the results from hole E1411.
This gold intercept from altered granite supports the bismuth-gold potential of the Property as described in several publications and summarized in the Margaux technical report dated March 14, 2014 (available on ).
Gold has been intercepted in skarn in holes E1410, E1419, and E1422. These results (Table 2) demonstrate the potential for gold within and proximal to tungsten mineralization.
Table 2: Composites for Au in holes E1410, E1419, and E1422
Lead-Zinc-Silver
Some holes that were collared stratigraphically above the tungsten zone passed through the Jersey lead-zinc horizon. Samples from this horizon returned elevated values for lead, zinc, and silver (Table 3).
These intercepts suggest the potential for additional lead-zinc-silver resources on the Property. The current lead-zinc resource estimate, as summarized in the Margaux technical report dated March 14, 2014 (available on SEDAR.com), has an indicated resource of 1.9 Mt averaging 1.96% lead and 4.10% zinc, and an inferred resource of 4.98 Mt averaging 1.95% lead and 3.37% zinc, using a 3.5% combined lead-zinc cut-off grade.
Table 3: Lead, zinc, and silver composites for drill holes E1419 and E1420
(i) The true widths of the mineralized intercepts may be less than the drilled lengths reported.
Qualified Person
The Company–s 2014 drilling program at the Property was conducted under the supervision of Mr. Edward Lawrence, P.Eng, who is the Company–s Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the technical disclosure contained in this news release as applicable.
Quality Assurance and Quality Control (“QA/QC”) Procedures
Drill core is logged and photographed at a secure building on the Property. Mineralized intervals were halved using a manual core splitter, and sampled at site. The remainder of the core was kept in the box as a permanent record. Samples were placed into sealed bags that were delivered by a commercial trucking company to the AcmeLabs facility in North Vancouver.
The samples were assayed for tungsten and 36 other elements using aqua regia digestion with an ICP-MS finish. Over-grade tungsten was analyzed using a phosphoric acid leach with an ICP-ES finish, and over-grade molybdenum, lead, and zinc were analyzed using a four acid digestion with an ICP-ES finish. Over-grade gold was analyzed using a 30 g fire assay with gravimetric finish.
Margaux has implemented a rigorous industry-standard QA/QC program that includes the blind insertion of certified reference materials, duplicates, and blanks into the sample stream.
About Margaux Resources Ltd.: Margaux is based in Calgary, Alberta and a publicly traded resource company with oil and gas exploration and production and an option on the Jersey Emerald Tungsten-Zinc Property near Salmo, British Columbia.
Cautionary Statements
This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the size and timing of completion of the remainder of the Company–s 2014 drill program and disclosure of the results thereof.
Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements and information but which may prove to be incorrect.
Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
The forward-looking statements contained in this press release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither 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.
Contacts:
Margaux Resources Ltd.
Tyler Rice
President, CEO and a Director
(403) 537-5590