Monarch Mining (TSX: GBAR; US-OTC: GBARF) has intersected close to floor bonanza grades 200 metres southwest of the present pit shell at its McKenzie Break gold undertaking, 35 km north of Val d’Or in Quebec.
The perfect assay was 73.5 grams gold per tonne over 1.4 metres, adopted by a deeper zone grading 1.38 grams gold per tonne over 5 metres in gap MK-21-296.
Once more 200 metres southwest of the pit shell, gap MK-21-306 intersected widespread low-grade mineralization, together with 0.92 gram gold per tonne over 17 metres and a deeper zone grading 0.98 gram gold over 11.55 metres. Gap-21-305 returned 2 metres grading 2.39 grams gold per tonne, adopted by a deeper zone of 0.7 metre at 4.5 grams gold per tonn.
Good grades have been additionally drilled 100 metres northeast of the present sources in gap MK-21-290, which returned 4 grams gold over 1 metre, adopted by a deeper zone grading 8 grams gold over 1 metre. Fifty metres to the west, gap MK-21-290 returned 1 metre grading 4.5 grams gold and 1 metre at 5.5 grams gold.
Monarch additionally accomplished infill drilling on 50-metre centres east of the deposit. Gap MK 21-288 returned 1.7 metres at 12.75 grams gold; gap MK-21-295 returned 0.8 metre at 12 grams gold and a couple of.6 metres at 4.29 grams gold; gap MK-21-297 returned 0.6 metre at 10.9 grams gold; gap MK-21-299 returned 0.8 metre at 12.3 grams gold; and gap MK-21-300 returned 1.1 metres at 10.2 grams gold.
The McKenzie Break undertaking is positioned 25 km north of the corporate’s wholly owned 750-tonne per day Beacon gold mill. The property has an indicated useful resource of 1.8 million tonnes grading 1.8 grams gold for the pit-constrained portion and 5.03 grams gold for the underground portion, containing about 146,000 oz. of gold. The inferred useful resource is 3.3 million tonnes grading 1.44 grams gold for the open pit portion and 4.21 grams gold for the underground portion, containing a complete of 250,000 ounces.
Monarch will full this 12 months’s drilling on 50-metre centres and start a brand new program subsequent 12 months to broaden the sources the present pit shell useful resource and up to date intercepts 1 km to the south.