Quebec City, Quebec, Canada, July 14th , 2016 – MONARQUES GOLD CORP.(“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report that it has resumed work on its Croinor Gold (“Croinor”) project, approximately 70 kilometres east of Val-d’Or, Quebec. Stripping work is presently underway on the Gold Bug showing, and will be ongoing until the end of July.
The Gold Bug showing was discovered by drilling during the intensive 2015 exploration campaign. It is characterized by a different geological environment than that of the Croinor deposit, which lies about 500 metres to the west. Gold Bug is characterized by a complex network of quartz veins in a felsic porphyry intrusive. Three short drilling programs have revealed a complex gold system punctuated by erratic gold values. The best results for the programs were as follows:
*There is currently insufficient information available to determine true widths.
The program now underway is aimed at exposing the bedrock of the Gold Bug showing and providing a better understanding of the geometry of the gold-bearing structures and how they relate to the surrounding structures. It will also locate the extensions of the showing, both laterally and at depth, allowing the holes of the next drilling program to be properly oriented.
“We are very pleased with the developments on the Gold Bug showing,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Given its proximity to the Croinor deposit and the fact that it is very near the surface, the work we are doing now is essential to determining the showing’s full potential.”
The technical and scientific content of this press release has been reviewed and approved by Donald Trudel, P.Geo., B.Sc., the Corporation’s Qualified Person under National Instrument 43-101.
Monarques is a gold exploration company currently focusing its efforts on the development of gold projects along the Cadillac Break, in the Val-d’Or area of Quebec. Monarques currently has nearly 200 km2 of property holdings in the Val- d’Or area, including two mining concessions and one mining lease with over $9 million in credits from the Ministère de l’Énergie et des Ressources naturelles.
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques’ actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. 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 press release.