Monarch Gold To Assess Wasamac Property Silver Potential Monarch Gold To Assess Wasamac Property Silver Potential
- Significant silver mineralization was identified in the Wasamac gold property shear zone during the 2012 drilling and resampling programs.
- Silver mineralization is associated with the gold-rich sections. The best silver values included 7.01 g/t Ag over 75.9 metres and 10.72 g/t Ag over 10.2 metres (see Figure).
- The economic analysis (Wasamac Gold 2018 Feasibility Study) did not account for silver credits as silver was not included in either the gold mineral resources or the mining plan.
- A strong silver market could increase the economic value of the currently outlined gold deposit.
Montreal, Quebec, Canada, September 10, 2020 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCQX: MRQRF) (FRANKFURT: MR7) is pleased to announce that it will undertake an internal review of its Wasamac project in Quebec, Canada, with a view to creating value by including the silver content associated with the current gold mineralization, in the light of the recent significant strengthening of the silver market.
“Silver prices are up 44% in the last year and have more than doubled since mid-March of this year,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “Although several high-grade silver intersections were identified in previous drilling on the Wasamac property, analysis of the silver potential was limited. Given the current strong precious metals market and rising silver prices, we believe that a thorough review of Wasamac’s silver potential is fully warranted and could add value to the property.”
The 2018 Wasamac feasibility report stated that metallurgical testwork and drill core assays had shown that all mineralized zones at Wasamac contain variable amounts of silver, but that no credit for silver had been considered in the economic analysis as silver had not been estimated in the mineral resources or incorporated in the mine plan.
The best silver intersections are shown in the following table:
*The width shown is the core length. True width is estimated to be 75-100% of the core length.
The available data indicates that Zones 1 and 2 have a higher proportion of silver to gold.
The review will consist of the identification of intervals for resampling, analysis of the silver grades to determine the distribution of silver within the zones, as recommended in the 2018 feasibility study, and construction of a silver model, in order to better define the silver content of the Wasamac deposit. The Corporation will publish the results of its review as soon as they become available.