Margaux Resources Announces Results From Recent Sampling
CALGARY, ALBERTA--(Marketwired - Apr 12, 2016) - Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux") is pleased to announce the results from recent underground sampling at its Jersey Emerald property located near Salmo, BC. The result of this sampling supports the potential for zinc, lead and silver resources remaining in the immediate area of the Emerald 4640 drift.
Highlights from the recent sampling include values over 10% zinc and 20% lead (see below table, samples 4640-02 and 4640-04).
On March 16, 2016, Margaux collected six samples (Table 1) from a historic 12.8 metre south-trending exploration drift (circa 1905). The drift, determined to be at mine level 4640, was discovered during the 2014 East Emerald Tungsten drilling campaign (see new release dated November 5, 2014).
Table 1: Zinc, lead, and silver results from 2016 underground sampling
| SampleID | From* m | To m | Length m** | Zn % | Pb % | Ag g/T | Description | |
| 4640-01 | 0.0 | 3.0 | 3.0 | 14.15 | 9.30 | 4.18 | West wall 1.5 m from floor; galena with sphalerite | |
| 4640-02 | 3.0 | 6.0 | 3.0 | 11.60 | 23.21 | 2.99 | West wall 1.5 m from floor; galena with sphalerite | |
| 4640-03 | 6.0 | 9.0 | 3.0 | 14.85 | 10.55 | 2.32 | West wall 1.5 m from floor; galena with sphalerite | |
| 4640-04 | 9.0 | 12.8 | 3.8 | 11.45 | 20.45 | 3.22 | West wall 1.5 m from floor; galena with sphalerite | |
| 4640-05 | 12.8 | 12.8 | 0.9 | 11.35 | 13.60 | 4.40 | Face 1.5 m from floor; galena with sphalerite | |
| 4640-06 | 2.3 | 5.0 | 2.7 | 14.65 | 0.91 | 0.49 | West wall near floor; sphalerite with minor galena | |
| * Start of sampling from adit at UTM 483918, 5439716 (NAD83, Zone 11) | ||||||||
| ** True width of sample not yet known | ||||||||
Samples 4640-01 to 4640-04 were continuous chips along a band of galena-rich mineralization running the length of the drift. Sample 4640-05 was a chip across the 0.9 m wide galena-rich band at the face. Sample 4640-06 was a 2.7 m sample containing a lower sphalerite-rich lens near the floor of the drift.
The drift that was sampled is located approximately 150 m northeast of drillholes E1419 and E1420, which delivered elevated zinc and lead results (Table 2, from Margaux news release dated December 2, 2014).
Table 2: Zinc and lead results from selected 2014 drilling
| HoleID | UTMX m | UTMY m | UTMZ m | Azimuth | Dip | From m | To m | Length m | Zn % | Pb % | |
| E1419 | 483845 | 5439568 | 1424 | 112 | -79 | • | 0.00 | 5.00 | 5.00 | 6.00 | 3.75 |
| • | 13.80 | 15.95 | 2.15 | 2.09 | 0.41 | ||||||
| Incl | 13.80 | 15.00 | 1.20 | 3.45 | 0.48 | ||||||
| E1420 | 483845 | 5439568 | 1424 | 112 | -65 | • | 0.00 | 8.00 | 8.00 | 3.79 | 3.32 |
| Incl | 0.00 | 2.80 | 2.80 | 6.05 | 1.63 | ||||||
| Incl | 2.80 | 3.60 | 0.80 | 2.47 | 18.48 |
The recent sampling at the 4640 underground drift combined with the results from the 2014 drilling support the potential for remaining zinc and lead resources on the property. This area of exploration extends northward along strike from the Jersey Pb-Zn mine.
Qualified Person
The underground sampling was conducted under the supervisions of Mr. Perry Grunenberg, P. Geo. Who is Margaux' qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical disclosure contained in this news release.
Quality Assurance and Quality Control ("QA/QC") Procedures
Samples were placed into sealed bags that were delivered by a commercial trucking company to the ALS Global preparation facility in Kamloops.
The samples were analyzed for all elements using ultra trace aqua regia digestion with an ICP-MS finish (ME-MS41). Overgrade zinc was analyzed by using the ore-grade aqua regia technique, and overgrade lead was analyzed by using the ore-grade aqua regia technique or titration.
About Margaux Resources Ltd.: Margaux is based in Calgary, AB and a publicly traded resource company currently focused on their Jersey Emerald Tungsten-Zinc Property, located near Salmo, BC.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statements
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends", "Potential" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this news release contains statements concerning the size and potential aof the mineral resource on the Jersey Emerald property.
Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements and information but which may prove to be incorrect.
Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
The forward-looking statements contained in this news release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.