This drilling has confirmed that the pit shell and underground mineral resource can be expanded beyond the limits defined in the 2021 MRE. The holes are relatively shallow and were primarily drilled at the outer edge of the proposed pit shell limits and in the area of the underground mineral resource blocks. Since the publication of the 2021 MRE by Geologica and GoldMinds (see Table 3), Monarch drilled a total of 41,465 m in 121 drill holes. The drill hole is located 70 metres south of the pit shell limit and demonstrates the potential to extend the pit shell to the south and southwest.ĭrill hole MK-22-367 intersected 8.54 g/t Au over 1.40 m and 8.99 g/t Au over 1.0 m. ![]() This hole confirms that gold mineralization remains open to the northeast.ĭrill hole MK-22-342 intersected 1.33 g/t Au over 9.35 m from 8.0 m to 17.35 m down the hole, confirming the near-surface gold mineralization continuing to the south. The most significant intersection was found in hole MK-22-348, which returned 1.77 g/t Au over 31.0 m, including higher grade sections of 2.83 g/t Au over 15.6 m and 8.42 g/t Au over 3.0 m along the southeast limit of the current proposed pit shell.ĭrill hole MK-22-363, located at the northeast limit of the deposit, intersected 1.54 g/t Au over 14.91 m, including a high grade intercept of 9.09 g/t Au over 1.48 m. ![]() The mineralized envelope currently measures 1,100 metres by 600 metres and has been tested down to a vertical depth of 400 metres. ![]() The drilling program was aimed at expanding the size of the 2021 mineral resource estimate (“2021 MRE”), including the current pit shell in the up-dip direction (to the west and south), and the underground resource to the east and north. Assays are pending for the remaining 17 holes of this drill program. Today, Monarch is reporting the results from an additional 13 holes totalling 4,523 metres (see Figure 1, Table 1 and 2). The 2022 drilling program on the McKenzie Break property totaled 16,104 metres in 53 holes. MONTREAL, (GLOBE NEWSWIRE) - MONARCH MINING CORPORATION (“ Monarch” or the “ Corporation”) (TSX: GBAR) (OTCQB: GBARF) is pleased to report additional results from the 2022 drilling program on its wholly-owned McKenzie Break gold project, located 25 kilometres north of the Corporation’s wholly owned Beacon mill.
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