Monarch reports bonanza gold grades at McKenzie Break

Monarch Mining (TSX: GBAR; US-OTC: GBARF) has intersected near surface bonanza grades 200 metres southwest of the current pit shell at its McKenzie Break gold project, 35 km north of Val d’Or in Quebec.

The best assay was 73.5 grams gold per tonne over 1.4 metres, followed by a deeper zone grading 1.38 grams gold per tonne over 5 metres in hole MK-21-296.

Again 200 metres southwest of the pit shell, hole MK-21-306 intersected widespread low-grade mineralization, including 0.92 gram gold per tonne over 17 metres and a deeper zone grading 0.98 gram gold over 11.55 metres. Hole-21-305 returned 2 metres grading 2.39 grams gold per tonne, followed by a deeper zone of 0.7 metre at 4.5 grams gold per tonn.  

A drill rig at Monarch Mining’s McKenzie Break property in Quebec. Credit: Monarch Mining.

Good grades were also drilled 100 metres northeast of the current resources in hole MK-21-290, which returned 4 grams gold over 1 metre, followed by a deeper zone grading 8 grams gold over 1 metre. Fifty metres to the west, hole MK-21-290 returned 1 metre grading 4.5 grams gold and 1 metre at 5.5 grams gold.

Monarch also completed infill drilling on 50-metre centres east of the deposit. Hole MK 21-288 returned 1.7 metres at 12.75 grams gold; hole MK-21-295 returned 0.8 metre at 12 grams gold and 2.6 metres at 4.29 grams gold; hole MK-21-297 returned 0.6 metre at 10.9 grams gold; hole MK-21-299 returned 0.8  metre at 12.3 grams gold; and hole MK-21-300 returned 1.1 metres at 10.2 grams gold.

The McKenzie Break project is located 25 km north of the company’s wholly owned 750-tonne per day Beacon gold mill. The property has an indicated resource of 1.8 million tonnes grading 1.8 grams gold for the pit-constrained portion and 5.03 grams gold for the underground portion, containing about 146,000 oz. of gold. The inferred resource is 3.3 million tonnes grading 1.44 grams gold for the open pit portion and 4.21 grams gold for the  underground portion, containing a total of 250,000 ounces.

Monarch will complete this year’s drilling on 50-metre centres and begin a new program next year to expand the resources the current pit shell resource and recent intercepts 1 km to the south.