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Monarch intersects ‘impressive’ 18.8 g/t gold at Swanson

31st August 2022

By: Creamer Media Reporter

     

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Toronto-listed Monarch Mining has announced more high-grade results from its 2021/22 drilling programme on the wholly-owned Swanson gold project, which is located about 50 km from the company’s Beacon mill.

The 2021/22 programme is the first drilling done on the property since Monarch acquired it from Agnico Eagle Mines in 2017.

Earlier results of the programme included 27.79 g/t gold over 10.18 m and 0.92 g/t gold over 225.0 m.

The positive results received to date have encouraged Monarch to continue testing the extensions of the gold mineralization along strike and at depth.

The most recent results are for hole SW-22-023, which tested the down-plunge continuity of the Swanson deposit to a vertical depth of 360 m. The hole intersected three of the interpreted mineralised lenses, all beyond the current limits of the interpreted wireframes used in the 2021 mineral resource estimate.

The mineralised intersections included 7.21 g/t gold over 1.0 m, 2.5 g/t gold over 7.65 m and 117.91 g/t gold over 2.0 m, with the lower two zones contained within a 13.5 m intersection grading an average of 18.18 g/t.

The mineralisation is hosted in altered and brecciated basalts interlayered with a syenite intrusion and is bordered on a larger scale by ultramafic rocks in the hangingwall and footwall. The mineralisation remains open to the east and down plunge to the northeast.

The 2021/22 programme was completed on August 29, at a total of 11 277 m in 31 holes. Final assay results are still pending for 14 of the holes.

 

Edited by Creamer Media Reporter

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