Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (“Margaux” or the “Company”) has received further results from the Company’s recent drill program on the Jackpot zinc property, part of the Company’s Kootenay Arc project in southern B.C., showing high grade zinc mineralization from the Jackpot East zone, as well as a further broad interval of low grade mineralization at the Lerwick zone.
Key Highlights
- 8.5 m grading 6.66% zinc, 0.7% lead and 6.51 g/t silver (Jackpot East Zone);
- Multiple mineralized horizons with >6% zinc (Jackpot East Zone);
- 36.3 m grading 1.48% zinc (Lerwick Zone); and
- Results from only four holes received to date, results pending for the remaining 5 drill holes on the Jackpot property.
Nine holes, totalling 1,397 m, were drilled on the Jackpot property as part of Margaux’s 2017 drill program. Drilling was within a 500 x 1,000 m area, to test the Jackpot Main, Lerwick and Jackpot East zones. Results have been previously released for the 1st and 2nd drill holes from the 2017 program (see Company news release October 25, 2017 for further detail).
The results from the 3rd and 4th drill holes have been received (as highlighted below and on the attached map) and show high grade zinc mineralization from the Jackpot East zone, as well as a further broad interval of low grade mineralization at the Lerwick zone. Results from the remaining five drill holes are pending.
Tyler Rice, President and CEO for Margaux stated, “The soaring zinc prices and demand continue to create an opportunity in this market for Margaux and we are encouraged by the continued favourable results from the Jackpot property, which shows great potential for both high-grade and large tonnage, lower grade zinc mineralization.”
| Hole ID | Zone | From (m) | To (m) | Interval (m) | Zn (%) | Pb (%) | Ag (ppm) |
| JP17-06 | Lerwick | 63.23 | 99.53 | 36.30 | 1.48 | 1.0 | |
| including | 68.68 | 70.38 | 2.71 | 6.10 | 2.3 | ||
| 118.16 | 120.11 | 1.95 | 3.33 | 7.6 | |||
| JP17-07 | Jackpot East | 8.83 | 9.74 | 0.91 | 5.79 | 1.6 | |
| 5.84 | 38.40 | 2.56 | 4.20 | 2.9 | |||
| including | 37.12 | 37.45 | 0.33 | 10.3 | 6.0 | ||
| 112.09 | 120.59 | 8.50 | 6.66 | 0.7 | 6.5 | ||
| including | 112.09 | 115.11 | 3.02 | 6.08 | 0.72 | 5.4 | |
| 115.11 | 117.17 | 2.06 | 1.09 | 0.23 | 1.8 | ||
| 117.17 | 118.90 | 1.73 | 12.80 | 0.94 | 12.1 | ||
| 118.90 | 120.59 | 1.69 | 8.20 | 0.99 | 8.5 | ||
| 142.67 | 144.76 | 2.09 | 6.01 | 4.1 | |||
| 152.88 | 154.00 | 1.12 | 6.78 | 1.9 |
Figure 1: Margaux Resources Ltd. Kootenay Arc Project 2017 Jackpot Drilling
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/2958/30327_a1510124888587_43.jpg
Notes
Results reported in this release are composite, weighted average grades returned from continuous drill core samples across the interval. Intervals reported are core intervals. Further drilling is required to understand the relationship between core interval and true width. After logging, intervals marked for sampling were sawn along the core length, with half of the core placed in bags for analysis and the remaining half core piece returned to the box for reference. Samples were shipped to the independent ActLabs’ Kamloops, B.C. laboratory (recognized expertise in analytical geochemistry and certified with ISO 9001:2008, ISO 17025, CAN-P-1579 certification) for preparation and analysis. At the lab, samples were crushed so that 80% passes through 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 g sample of pulverized material, and for a multi-element suite by ICP-MS following aqua regia digestion. For samples returning >5000 ppm Zn or >5000 ppm Pb,, samples were subsequently analyzed using peroxide fusion/ICP-MS techniques. Industry best QA/QC procedures and practices were implemented during the drilling program, including the insertion of analytical blanks and standards at regular intervals, as well as systematic duplicate sampling. Core size was NQ2.
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. (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 2nd 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 potential of mineral resources and potential for recovery thereof, 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
Tyler@margauxresources.com