QUEBEC CITY, QUEBEC -- (Marketwire) -- 01/06/12 -- Monarques Resources Inc. ("Monarques" or the "Company") (TSX VENTURE: MQR) is pleased to provide results from the 2011 exploration program on its 100% owned Bourier property.
The 2011 exploration program on the Bourier property included geological mapping, prospecting, soil sampling and stripping on the North-Eastern part of the property as well as drilling of targets generated by geological mapping and helicopter borne mag/EM survey on the South-Western part (see news release of October 27th, 2011). Previous exploration work highlighted an important highly magnetic massive sulphide mineralized zone included in a clastic sediments formation. It has since been shown that this massive sulphide mineralized zone is continuous over a distance of more than 25 km. 15 diamond drill holes were drilled on the first 5 km at the Southwest end of the zone (see map) and all intercepted the mineralization over 5 to 10 meters in thickness. A total of 2,214 m of drilling was conducted and 459 samples were sent for assay.
Mineralization has been intercepted down to a vertical depth of 100 m and data interpretation indicates continuity of the mineralized horizon. The analytical results have however not shown thickening and/or enrichment of mineralization as targeted. The descriptive data and key laboratory results demonstrate a zinc and silver mineralized zone of SedEx type (1% zinc over 1 metre in the hole BOU-11-09, 1.4 g/t silver on 3.0 meters in channel and up to 3.0 g/t silver in a grab sample).
Mr. Guy Bourassa, President and Chief Executive Officer, commented: "This is a newly discovered target which has never been drilled and I am very encouraged by the presence of SedEx style mineralization." He continues, "Our next program will involve testing three new soil anomalies and other showings. Prospecting and geological surveying is scheduled to begin as early as next May. The results of this program will define new drill targets in 2012."
The technical sections of this press release have been prepared by Yves Caron, M.Sc., P.Geo., vice-president exploration of Monarques and qualified person as defined in National Instrument 43-101.
All samples were sent for preparation and analysis to the ALS Chemex facilities in Val d'Or, Quebec, under methods ME-MS41 and Au-TL43. This laboratory is certified ISO/IEG 17025: 2005 by the Standards Council of Canada (SCC). Monarques Resources Inc. applies a rigorous quality control protocol over all of its operations, including the insertion of certified analytical standards, duplicates and blanks and statistical follow-up of the results.
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). Its properties, all 100% owned, are located in the region of Nemaska, in the Lower James Bay Region of Quebec and cover about 125 km of the polymetallic formation of Lac des Montagne. This greenstone belt is known for its multiple showings and drill ready targets in addition to the Nisk-1 deposit (nickel, copper and PGE). Monarques mineral assets consist of 1,313 map designated claims (66,900 ha.) divided in 10 properties known as Admiral, Arques, Bourier, Caumont, Dumulon, Duval, Lemare, Nisk, Rosebay, and Valiquette. The properties are accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Nemiscau airport.
A detailed map of all properties is available on the company web site at http://www.monarquesresources.com
Monarques has approximately $2,100,000 in cash, which allows the company to continue the exploration program on its properties. Nemaska Lithium Inc. (TSX VENTURE: NMX)(OTCQX: NMKEF), an advanced lithium exploration and development company is a major (47.2%) shareholder of Monarques.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.
A map is avaialable at the following address: http://media3.marketwire.com/docs/BourierPropertyE.pdf
Neither 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.
President and CEO