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Probe Metals discovers new gold zone at Monique property

Published by , Assistant Editor
Global Mining Review,

Monarch Gold Corp. (Monarch) has provided new results from Probe Metals Inc. (Probe) 2019 drill programme on the Monique property (the Property) located near Val-d'Or, Quebec. Results from 18 drill holes, totalling 5357 m, were received and indicated new discoveries south and southwest of the A and B gold zones. Probe is now preparing for the 2020 drill programme to follow-up on the recent discoveries. Probe may earn a 60% interest in the Property by spending an aggregate of CAN$2 million on exploration before January 2021.

"We are very pleased that one of our projects is being developed with the help of Probe's expertise, and we are delighted with the solid progress made on the Monique property, notably the discovery of a new 500 m long gold zone and wide intersections with strong grades," said Jean-Marc Lacoste, President and CEO of Monarch.

"From what we have seen from recent exploration results, we believe that the Monique property and Probe's adjoining Val-d'Or East project could become an interesting area play."

Of the 18 holes, 15 were designed to test a large area south of the historic A and B gold zones, and three were testing an under explored area northwest of the former Monique open pit along the mineralised trend. Best assay results from south of the A and B gold zones were from hole MO-19-16 at 184 m depth (down hole), which returned 5.9 g/t Au over 11.5 m within a larger interval grading 1.9 g/t Au over 49.5 m.  Hole MO-19-18 also returned encouraging results at 158 m depth (down hole) grading 7.6 g/t Au over 10.0 m. These 2 holes are located 100 m south of the A and B gold zones and intersected a new 500 m gold structure (Zone M) along with ten other holes, which all returned significant results between the surface and 230 m depth. The new structure is trending roughly parallel to the A and B zones, in an east-west direction, and dips steeply to the north. Mineralisation in the area is characterised by 1% to 10% quartz, carbonate and tourmaline veins and veinlets, 1% to 3% pyrite and trace chalcopyrite associated with the veins, with visible gold frequently noted in grey translucent quartz tension veins. Disseminated coarse cubic pyrite is also observed in altered wallrock of the quartz-tourmaline veins.

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