CALGARY, ALBERTA / TheNewswire / September 11, 2017 – Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF)
(“Margaux” or the “Company”) is pleased to announce that it has filed
on SEDAR the independent NI 43-101 Technical Report (the “Report”) for
its Sheep Creek property part of Margaux’s Kootenay Arc project in
southern British Columbia. The Report, announced July 6, 2017 and
entitled “NI 43-101 Technical Report on the Sheep Creek Project”, was
prepared by Robert A. (Bob) Lane, MSc, PGeo of Plateau Minerals Corp.
The Report is available on SEDAR under the Company’s profile and on the Company’s website at:
http://margauxresources.com/investors-news/reports/
The Sheep Creek Project is located in the
historic Sheep Creek gold camp and forms part of Margaux’s Kootenay Arc
project, and is located 12 kilometers east of Salmo. The Project tenures
cover a significant portion of the Sheep Creek gold camp and include
the important Reno, Nugget, Gold Belt and Queen/Sheep Creek past
producing gold mines. The Sheep Creek Project consists of a combination
of 63 Crown granted mineral claims and 9 mineral cell claims located in
the Nelson Mining Division, and is prospective for gold and silver. The
more recent mineral claims overlap the older crown grants, such that the
total area covered by the tenure that comprises the Sheep Creek Project
is 1,212.61 ha.
The Sheep Creek Camp has historic production
of 736,000 oz Au at an average grade of 14.7 g/t Au, from 34 discrete
veins. Cut-off grade for historical mining at Sheep Creek was
approximately 8 g/t Au (1).
Historically, ownership of the Sheep Creek Camp was fractured with
multiple owners, but now just Margaux controls the majority of the camp,
including 26 past-producing mines that account for approximately 85% of
the historic gold production, allowing for greater control and
oversight of operations.
Since acquisition of the property at the
beginning of 2017 (see Company press release January 6, 2017), Margaux
has conducted surface work on the property. This work has identified
samples that contained gold grades of 71.5 g/t and 17.75 g/t (see
Company press release February 8, 2017 for greater detail). In addition,
Margaux identified a new high grade vein on the property, with rock
samples returning high grade gold-silver-lead-zinc mineralization,
including samples showing 36.4 g/t Au, 1,021 g/t Ag, 33.68% Pb and
13.62% Zn (see Company press release August 22, 2017 for greater
detail).
Mr. Bob Lane’s Report concluded that “the
Sheep Creek Project consists of an important orogenic gold vein system
that has considerable merit.” Margaux intends to continue with further
exploration to more fully evaluate the potential of the property, and
will embark on its initial Sheep Creek drilling program in Fall 2017.
Notes
(1) Geology of the Sheep Creek Camp, BC Department of Mines Bulletin 31, W.H. Matthews, 1953.
Qualified Person
Robert A. (Bob) Lane, MSc, PGeo of Plateau Minerals Corp
is the Company’s Qualified Person as defined by NI 43-101 who prepared
and approved the independent NI 43-101 Technical Report contained within
this press release.
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 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
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