Monarch Mining Corp GBARF

Metals & Mining Gold

Monarch Mining Corporation is a Canada-based is a gold mining company. The Company owns three projects, such as the Beaufor, McKenzie Break, and Swanson projects. It holds a 100% interest in the Beaufor Mine, which is on care and maintenance. The property consists of two mining leases, a mining concession and approximately 23 mining claims covering an area of 5.9 square kilometers (km2). The McKenzie Break property covers 7,848 hectares (78.5 km) and is located 20 kilometers north of the Beacon Mill and 10 kilometers (km) south of the town of Barraute, Quebec. The Swanson property consists of a mining lease plus a total of 129 claims covering an area of 5,211 ha. The property lies 65 km northeast of Val-d'Or and just 50 km north of Monarch's wholly owned 750 tpd Beacon mill. The Company owns 14,316 hectares of mining assets in the prolific Abitibi mining camp that hosts a combined measured and indicated gold resource of 478,982 ounces and a combined inferred resource of 383,393 ounces.

OTCPK:GBARF - Post by User

Monarch Mining Corp > Monarch Continues to Intersect Broad Zones of Mineralization

<< Previous

Bullboard Posts

Next >>

Post by Betteryear2on May 24, 2023 7:07pm

288 Views

Post# 35462782

Monarch Continues to Intersect Broad Zones of Mineralization

Monarch reports gold assays from the remaining six drill holes totalling 2,140 metres of its 2021-2022 Swanson drilling program.
Hole SW-22-029 intersected a wide mineralized zone of 193.4 m at 0.65 g/t Au, with several higher grade sections, including 7.55 g/t Au over 4.05 m, extending the current pit shell at depth.
Hole SW-22-030 has extended the footwall zone near surface with an intersection of 6.0 m at 1.19 g/t Au.
Hole SW-22-031, located 75 m to the northeast of the current wireframes intersected 4.26 g/t Au over 0.55 m and is open to the east.
Multiple zones were intersected in hole SW-22-028 (0.80 g/t Au over 9.0 m and 1.45 g/t Au over 1.50 m) and SW-22-005ext (2.33 g/t Au over 1.10 m and 9.85 g/t Au over 1.30 m), extending the current wireframes at depth.
Results from the drilling program confirm that the pit shell and underground mineral resource can be expanded beyond the limits defined in the 2021 mineral resource estimate.

MONTREAL, May 24, 2023 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQB: GBARF) is pleased to report the results of the last six holes from the 2021-22 drilling program, which totalled 11,194 metres in 31 holes, on its wholly-owned Swanson gold project, located 50 kilometres north of the Corporation’s wholly owned Beacon mill (see Figure 1, Table 1 and 2).

Monarch Continues to Intersect Broad Zones of (globenewswire.com)