CALGARY, ALBERTA / The Newswire / May 11, 2017
Margaux Resources Ltd. (TSX VENTURE: MRL, OTCQB: MARFF) (“Margaux” or the “Company”) is pleased to announce the signing of a drilling contract with Wade Critchlow Enterprises, a Salmo-based diamond drilling contractor. The drilling program is scheduled to be conducted in two phases, and is to include a minimum of 5,500 metres of diamond drilling on the Company’s Jersey-Emerald, Jackpot, Bayonne, Sheep Creek and Ore Hill properties in southeastern British Columbia.
“We are excited to be advancing the exploration of our Kootenay Arc properties,” said Tyler Rice, President and CEO of Margaux. “The Company is in a strong position to embark on this upcoming drill program, following our recent private placement, and we look forward to the drilling results providing us with a better understanding of our newly acquired assets as well as our core Jersey-Emerald property”.
Preparations for the drilling program are currently underway, and under the terms of the contract, drilling is expected to commence on May 15, 2017. Phase 1 of the program is to be conducted on Margaux’s Jersey-Emerald property, where approximately 1,100 metres of NQ2 drilling is planned from five sites.
This will be followed by Phase 2 on the Company’s Jackpot, Sheep Creek, Bayonne and Ore Hill properties, where approximately 4,400 metres is to be drilled. Phase 2 drilling will commence when snow conditions allow and once the relevant permits are in place.
Drilling will test gold and lead-zinc targets identified on the basis of geological mapping, geophysics, geochemical sampling, and previous drilling completed on the properties.
Linda Caron, P.Eng, Margaux’s Vice President of Exploration, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained within this press release.
About Margaux Resources Ltd.: Margaux Resources Ltd. (TSX.V: MRL, OTCQB: MARFF) is a mineral acquisition and exploration company focused on the development of zinc, gold and tungsten deposits in the Kootenay Arc, in the southeastern region of British Columbia. The company is directed by a group of highly successful Canadian business executives and has a fast-growing portfolio of previously producing properties that include the Jersey-Emerald mine, which at one point was the 2nd largest historic zinc-lead mine in B.C. and the second largest tungsten mine in North America.
Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux’s exploration plans and work commitments, the receipt of required regulatory and other approvals, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
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 release.
Margaux Resources Ltd.
President, CEO and a Director