Monarques Resources Inc./Lemare: 33% of the Samples are Gold Bearing
QUEBEC CITY, QUEBEC -- (Marketwire) -- 11/20/12 -- Monarques Resources Inc. ("Monarques" or the "Corporation") (TSX VENTURE: MQR) is pleased to release results from samples gathered during its stripping and channel-sampling campaign which ended on October 31st, on its 100% owned Lemare property located in the Rupert River region, on the James Bay territory in Quebec
Exploration work done in Summer 2012 had allowed to identify a gold bearing structure (Lac de la Chlorite showing with 1.6 g/t Au), located less than two kilometers west of Lac de la Sillimanite showing (4.7 g/t Au) (see October 18th 2012 press release). Monarques carried out stripping operations on both sites between October 9th 2012 and October 31st 2012 (see November 2nd 2012 press release).
"Results from these operations are impressive and very conclusive. They confirm these two gold showing's potential and encourage us to pursue our operations on this property", said Jean-Marc Lacoste, President and CEO of Monarques. "Starting in January, we expect to carry out an induced polarization and resistivity campaign which, combined with the soil sampling results that are to come, will allow us to determine the best drilling targets on these gold bearing structures."
Indeed, two gold bearing structures associated with arsenopyrite have been exposed during these operations. The Lac de la Chlorite gold bearing structure is hosted in volcanic rocks whereas the lac de la Sillimanite showing is hosted in metasedimentary rocks. A total of 145 grab and channel samples were gathered during these operations. Among the samples, 48 were assayed at over 100ppb (0.1 g/t), with 12 samples over 1 g/t. The highest grade assayed was 4.76 g/t. (see figure below).
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Sample # Au grade (g/t) Sample # Au grade (g/t)
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L943462 4.76 L943496 3.16
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L943455 2.58 L943495 2.18
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L943487 1.68 L943498 1.58
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L943458 1.42 L943476 1.34
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L943462 1.31 L943362 1.17
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L943485 1.16 L943454 1.09
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L943500 0.90 L943400 0.89
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L943394 0.84 L943389 0.83
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L943374 0.77 L943459 0.74
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L943390 0.70 L943488 0.66
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L943484 0.65 L943399 0.61
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L943377 0.52 L943546 0.51
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L943483 0.49 L943376 0.44
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L943369 0.43 L943543 0.36
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L943396 0.33 L943370 0.31
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L943366 0.30 L943531 0.30
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L943367 0.25 L943549 0.24
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L943457 0.23 L943541 0.22
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L943482 0.20 L943398 0.19
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L943373 0.19 L943534 0.19
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L943545 0.17 L943395 0.17
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L943481 0.17 L943371 0.16
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L943452 0.16 L943471 0.12
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L943375 0.10
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The technical sections of this press release were prepared by Jonathan Lalancette, eng., employee for Monarques and qualified person as defined in National Instrument 43-101.
All rock samples were sent for preparation and analysis to the ALS Chemex laboratory in Val-d'Or, Quebec. This laboratory is accredited ISO/IEC 17025: 2005 by the Standards Council of Canada (SCC). All soil samples were sent for preparation and analysis to the Actlabs laboratory in Ancaster, Ontario. This laboratory is accredited ISO/IEC 17025: 2005 by the Standards Council of Canada (SCC). Monarques Resources Inc. applies a rigorous quality control protocol over all of its operations, including the insertion of certified analytical standards, duplicates and blanks and statistical follow-up of the results.
About Monarques
Monarques Resources Inc. (TSX VENTURE: MQR) is a mineral exploration company that is exploring for base metals, precious metals including the platinum group elements (PGE) and industrial minerals including rare earth elements (REE) in the Lower James Bay Region of Quebec.
A detailed map of properties is available on the Corporation web site at http://www.monarquesresources.com/en/Our-Assets
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.
Neither 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 release.
Contacts:
Monarques Resources Inc.
Jean-Marc Lacoste
President and CEO
418 614-0627
jm.lacoste@monarquesresources.com
www.monarquesresources.com