Monarch Mining (TSX:GBAR; OTC:GBARF) continues to expand its wholly owned McKenzie Break gold project 25 km north of its Beacon processing plant and 35 km northeast of Val d’Or, Que.
One impressive hole is MK-22-348 which returned 1.77 g/t gold over 31.0 metres, including a higher-grade section of 2.83 g/t over 15.6 metres. The hole is located along the southeast limit of the current proposed pit shell.
Broad zones of mineralization were also encountered in MK-22-342 with 1.33 g/t over 9.4 metres and in MK-22-363 with 1.54 g/t over 14.9 metres. Hole 342 has the potential to extend the pit to the south, and hole 363 was sited at the northeast limit of the drilling area.
Higher grades were drilled in MK-22-363 which returned 9.09 g/t gold over 1.5 metres and in MK-22-367 which returned 8.54 g/t over 1.4 metres.
Monarch says the results from last year’s drill program confirm that the pit shell and underground resources can be expanded beyond the limits defined in the 2021 resource estimate. At that time the indicated resource was 1.9 million tonnes grading 1.80 g/t (pit) and 5.03 g/t (underground), containing 145,9982 oz. of gold. The inferred resource was 3.3 million tonnes at 1.44 g/t (pit) and 4.21 g/t (underground) for 250,593 contained oz. of gold.
Since the resource estimate was made, the company has drilled an additional 41,465 metres in 121 holes, extending the mineralized envelop to 1,100 metres by 600 metres and to a vertical depth of 400 metres.
More detailed information is posted on www.MonarchMining.com.