Monarch Resources Limited -- Large Gold Anomaly Discovered San Agustin Property, Durango, Mexico.TORONTO--(BUSINESS WIRE)--May 13, 1997--Monarch Resources Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , LSE LSE - Language Sensitive Editor : MRE MRE abbr. meal ready to eat .) ("Monarch") - is pleased to announce that results from the first phase of exploration, which included soil and rock chip sampling, on the San Agustin
San Agustin (1996-) is a free improvising trio from Atlanta, Georgia, United States, with David Daniell and Andrew Burnes on guitar and Bryan Fielden on drums. mineral property in the State of Durango, Mexico have confirmed the presence of extensive precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . The size and nature of the gold in soil anomaly outlined to date suggest that the target at San Agustin has the potential to host a multi-million ounce gold resource. The highly prospective, 4,800 hectare San Agustin mineral property comprises a central block of third party mining claims in which Monarch is earning a 100 percent interest and a surrounding block which was staked by Monarch and for which full title has been granted to the Company. The property is located approximately 85 km north of the city of Durango and is within 7 km of paved roads and power lines with easy access to the property. Soil and rock chip sampling over a geochemical grid has defined an area of anomalous gold mineralization (grading 0.10 g/t or greater) which is roughly circular and covers over 5 square kilometers. The primary drill target within this anomaly grades greater than 0.4 g/t gold and is 1,000 metres long by an average of 450 metres wide. Maximum values from soil and rock chip samples have been 1.5 g/t gold (plus 7.2 g/t silver) and 13.5 g/t gold (plus 247 g/t silver), respectively. Numerous +1 g/t gold rock chip stretch values have been recorded over widths of up to 30 metres, including 3.2 g/t gold and 9.7 g/t silver over 15 metres. Precious metal mineralization is associated with a large, eroded volcanic dome, comprising an intensely altered dacite da·cite n. A light gray volcanic rock containing a mixture of plagioclase and other crystalline minerals in glassy silica, similar in appearance to rhyolite. [After Dacia. porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. intruded into Cretaceous sediments, and appears to be structurally controlled. A total of 2,500 soil and rock chip samples have been analyzed. Of 554 samples taken over the area of the dacite porphyry, 67 percent assayed greater than 0.10 g/t gold and 8 percent assayed greater than 0.4 g/t gold. Low but anomalous silver values, generally less than 10 g/t, suggest that silver is partially leached from the soil. By comparison, rock chip sampling over the dacite porphyry has shown consistently higher silver values ranging up to 106.8 g/t. The presence of post mineral volcanic cover across much of the property suggests the potential for a significant increase in the target size. The style of mineralization at San Agustin shows strong similarities to the La Joya La Joya (Spanish: "The Jewel") is the name of several places:
BMG Be My Girl BMG Blue Man Group BMG Bertelsmann Music Group BMG Be My Guest BMG Browning Machine Gun BMG Bulk Metallic Glass ") is located. The San Agustin mineral system lies 15 km southwest of BMG's El Cairo property where a similar geochemical anomaly has been discovered. BMG recently announced that 7 out of 8 holes drilled at El Cairo cut significant mineralization, including 300 feet of 0.031 oz/ton gold in a hole which bottomed in mineralization. Road construction to provide access to the main drill target was completed in April and a 3,500 metre reverse circulation drill program commenced on April 28, 1997. The drilling program will comprise 35 holes of 100 metres depth focusing principally on the + 0.4 g/t gold in soil anomaly, with additional drilling targeting the broader + 0.2 g/t portion of the overall anomaly. It is anticipated that results from the drilling program should be available by the end of June. Monarch Resources Limited is an international gold mining company engaged in the acquisition of gold properties in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . The Company is the largest foreign investor in the Venezuelan gold sector and is the largest private producer in Venezuela. Monarch has acquired significant mineral property interests in Mexico which are actively being explored and are the focus of the Company's exploration program. The Company is pursuing a strategy of growth in precious metals production and reserves throughout the Americas. CONTACT: Monarch Resources Limited Anthony F. Ciali, 609/951-0770 or Monarch Resources Limited Eric R. Van Heyst, 609/951-0770 |
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