Excerpt from Stockwatch Gold Jean-Marc Lacoste's Monarch Mining Corp. (GBAR), up three cents to 68 cents on 379,000 shares, has drilled a 10.18-metre interval averaging 27.79 grams of gold per tonne at its Swanson project, north of Val d'Or. The hit included a 1.5-metre interval averaging 184.5 grams per tonne, so the remaining 8.68 metres averaged a pedestrian 0.71 gram per tonne, a value in line with the 0.65 gram per tonne that a second hole managed, although that result spanned a hefty 208 metres.
A third hole did produce 2.63 grams per tonne over 18.52 metres, although once again, removing a 1.2-metre stretch averaging 29.4 grams per tonne cuts the grade of the remaining 17.32 metres to just 0.78 gram per tonne. All told, six of seven holes returned significant gold assays, but the results for three showed low grades over short intervals.
No matter. Mr. Lacoste, president and CEO, cheered the "impressive initial results" as the basis to double the company's drill program to 10,000 metres. He was particularly enthused by the "high-grade intersection with a good width" at a vertical depth of "just" 195 metres in the headline hole. He then shifted his enthusiasm to results to come, applauding visible gold noted in two new holes with pending assays, drilled just down dip and east of that bonanza-grade hit.
"We are still early in the program," Mr. Lacoste conceded, before launching a new salvo of enthusiasm. If the trend continues, he says, it could significantly boost the current resource. "Given what we are seeing, we think that the best may be yet to come," he cheers. Meanwhile, the regulators see just 1.95 million tonnes indicated at 1.82 grams per tonne and 116,000 tonnes inferred at 2.76 grams per tonne, about 125,000 ounces.
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