Issue link: http://resourceworld.uberflip.com/i/783264
F E B R U A R Y / M A R C H 2 0 1 7 www.resourceworld.com 65 MINING MONARQUES GOLD DRILLS 8.41 G/T GOLD OVER 25 METRES Monarques Gold Corp. [MQR-TSXV; MR7-FSE] announced results of Hole CR-16-521, which has returned anomalous to economic grades from a shear zone at least 170 metres long verti- cally on the 100%-owned Croinor gold property, 70 km east of Val-d'Or, Québec. The hole was drilled in the Gold Bug area, which lies less than 500 metres from the Croinor gold deposit. One exceptional intersection returned 8.41 g/t gold over 25 metres, including 36.1 g/t gold over 3 metres and 39.35 g/t gold over 2 metres. The intersection is shallow, from 29 to 54 metres down the hole. The hole also returned other notable intersections, with 0.47 g/t gold over 28 metres (82-110 m), 1.13 g/t gold over 15 metres (141-156 m) and 1.81 g/t gold over 3.15 metres (165.85-169 m). The reported lengths are core lengths; true lengths are not known yet. High grades were cut to 70 g/t gold, the same grade used in the Croinor gold deposit resource estimate. The current 10,000-metre program included drilling on the Gold Bug area to follow up on results obtained in 2016. Additional results are pending. "The results for Hole CR-16-521 combined with those from the 2015 program significantly enhance the potential of the Gold Bug area and of the Croinor gold project as a whole," said Jean-Marc Lacoste, President and CEO of Monarques. "These results support our conviction that the Croinor gold property remains relatively unknown over its vast 150 km 2 area and could well contain other ore deposits like the Croinor gold deposit." The project is at the pre-feasibility stage with proven reserves of 68,625 tonnes grading 6.25 g/t gold, for 13,789 ounces, and probable reserves of 472,909 tonnes grading 6.85 g/t gold, for 104,081 ounces. Monarques Gold has close to $9 million in credits from Québec's Ministry of Energy and Natural Resources. n NATAN RESOURCES AND GLOBEX MINING SAMPLE BONANZA GOLD Optionee Natan Resources Ltd. [NRL-TSXV; N071-FSE] and Globex Mining Enterprises Inc. [GMX-TSX; G1M-Germany; GLBXF-OTCQX] reported bonanza-grade gold in its channel sampling program on the Montalembert gold property near Waswanipi 80 km southwest of Chapais, Québec. In October 2016, a total of 208 channel samples were collected ranging from 0.5 to 1.35 metres in length, averaging 0.97 metres. Mineralization consists of coarse free gold in or near quartz vein systems. Some of the best channel sample assays included 438.23 g/t gold and 145.2 g/t silver over 1.0 metre as well as 39.35 g/t gold and 14.4 g/t silver over 1.10 metres. A grab sample returned 64.48 g/t gold. To earn a 100% interest, Natan must pay $2,700,000 and issue 8,500,000 shares to Globex and spend $15,000,000 on explora- tion, gross metal royalty. n