- Monarch Mining Inc. (GBAR) has received additional results from the 2021-2022 drilling program on its Swanson gold project
- In its fifth set of results from the drilling program, Monarch reported both high-grade and widespread gold assays. This includes more high-grade assays and wider mineralized zones
- Hole SW-22-025 intersected an impressive 11.07 g/t Au over 7.40 metres within a much wider zone of 1.76 g/t Au over 101.85 metres
- Monarch (GBAR) was down 6.67 per cent, trading at $0.07 per share as of 9:50 am ET.
Monarch Mining Inc. (GBAR) has received additional results from the 2021-2022 drilling program on its Swanson gold project.
in its fifth set of results from the 2021-2022 Swanson drilling program, Monarch reported both high-grade and widespread gold assays. This includes more high-grade assays and wider mineralized zones.
Highlights:
- Hole SW-22-025 intersected an impressive 11.07 g/t Au over 7.40 metres within a much wider zone of 1.76 g/t Au over 101.85 metres
- Other notable results include 27.8 g/t Au over 0.60 metres, 14.75 g/t Au over 0.5 metres and 3.47 g/t Au over 7.3 metres, all within a wider intersection of 0.63 g/t Au over 151.7 metres in hole SW-22-024.
The Swanson deposit is currently tested to a vertical depth of 430 metres and remains open at depth.
Monarch’s President and Chief Executive Officer, Jean-Marc Lacoste, said that the team continues to establish the continuity of the mineralized corridor at depth.
“These drill results push the limits of the mineralization even further out from the currently defined mineral resource envelope and the proposed pit shell.”
The Swanson property is 65 km northeast of Val-d’Or, Quebec, and 50 km north of Monarch’s Beacon mill. The project comprises a contiguous group of 127 map-designated claims and one mining lease covering an area of 51.2 sq. km.
Monarch Mining is a fully integrated mining company. Its Swanson, Croinor Gold and McKenzie Break properties are all located near the company’s wholly owned 750 tpd Beacon Mill. Its Beaufor Mine has produced more than 1 million ounces of gold over the last 30 years
Monarch Mining Inc. owns 295 sq. km. of mining assets in the prolific Abitibi mining camp that host a combined measured and indicated gold resource of 666,882 ounces and a combined inferred resource of 423,193 ounces.
Monarch (GBAR) was down 6.67 per cent, trading at $0.07 per share as of 9:50 am ET.