Monarques Resources Inc.: Geophysical Survey on the Lemare Gold Property
QUEBEC CITY, QUEBEC -- (Marketwire) -- 01/22/13 -- Monarques Resources Inc. ("Monarques" or the "Company") (TSX VENTURE: MQR) is pleased to announce the beginning of its geophysical surveying work on the 100% owned Lemare property located in the Rupert River area in the James Bay region of the province of Quebec.
Indeed, the Company has commissioned the firm Abitibi Geophysics to conduct an induced polarization and resistivity survey to test its gold showings. Approximately 60 km of lines will be covered by this geophysical survey.
The exploration work conducted in the summer of 2012 had allowed for the identification of a gold bearing structure (Lac de la Chlorite showing with 1.6 g/t Au), located less than two kilometres west of the Lac de la Sillimanite showing (4.7 g/t Au) (see press release dated October 18, 2012). Monarques stripped both sites between October 9, 2012 and October 31, 2012, on its Lemare property. A total of 145 samples had been collected (grab and channel samples) and 33% of these samples returned anomalous values for Au (see press release dated November 20, 2012).
In addition, during this period, Monarques completed a geochemical survey (humus sampling) covering the area of the two gold showings. A total of 1,072 soil samples were collected and analyzed.
"These geophysical work will help us better define gold targets for the drilling work that will start in a few weeks on this area of the Lemare property," commented Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "We hope that this geophysical surveying work, combined with data from previous work, will allow us to identify targets for upcoming diamond drillings in the area. As early as next month, we expect to launch a drilling program of approximately 2,000 metres on the targets thus identified."
The technical sections of this press release have been prepared by Jonathan Lalancette, Eng., employee of Monarques Resources and Qualified Person within the meaning of Regulation 43-101.
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, in the province of Quebec.
A detailed map of properties is available on the Company's website at http://www.monarquesresources.com/fr/Nos-actifs
The forward-looking statements herein involve inherent known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Monarques to be materially different from any future results, performance or achievements expressed or suggested in this press release.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Contacts:
Jean-Marc Lacoste
President and Chief Executive Officer
418-614-0627
jm.lacoste@monarquesresources.com
www.monarquesresources.com
