QUEBEC CITY, QUEBEC -- (Marketwired) -- 04/03/13 -- MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE: MQR) is pleased to announce the geophysics and drilling results on its 100 % own Lemare property, located in the region of the Rupert River, in the territory of James Bay in Quebec.
The company conducted a total of 10 boreholes, for around 1566 metres, on its showings. In parallel, the company mandated the firm Abitibi Geophysique to complete a geophysical survey to the ground (induced polarization and resistivity). 48 IP anomalies were interpreted from this survey. Drill targets were derived from this geophysical and geochemical survey (humus geochemistry), completed earlier in the fall of 2012.
A total of 695 samples have been collected on the drill core. Of these, eleven (11) samples show the gold levels higher than 0.1 g/t (see table below).
---------------------------------------------------------------------------- # Hole From (m) to (m) Depth (m)(i) Au (g/t) Grade / Depth(i) ---------------------------------------------------------------------------- Lem-13-02 87,00 88,00 1,00 1,93 g/t 0,72 g/t over 3 m ------------------------------------------------------- Lem-13-02 89,00 90,00 1,00 0,22 g/t ---------------------------------------------------------------------------- Lem-13-03 26,00 26,60 0,60 0,29 g/t ---------------------------------------------------------------------------- Lem-13-04 42,50 44,00 1,50 0,11 g/t 0,11 g/t over 1,5 m ---------------------------------------------------------------------------- Lem-13-07 46,40 47,00 0,60 0,155 g/t ---------------------------------------------------------------------------- Lem-13-07 147,00 148,00 1,00 0,169 g/t ---------------------------------------------------------------------------- Lem-13-08 5,00 6,00 1,00 0,207 g/t ----------------------------------------------------------------------------
(i) Because the holes were drilled more or less perpendicular to the lithology, thickness intervals in the table can be considered true width.
15 priority geophysical targets, several associated to geochemical anomalies targets, remain to be drilled on the Lemare property. Monarques is considering drilling the remaining targets before the end of 2013.
"These drilling operations have helped us better understand certain anomalies in the sector of our showings", said Jean-Marc Lacoste, president and CEO of Monarques. "We are still confident of the potential of this property given the quality of the remaining undrilled anomalies."
The technical sections of this release were prepared by Jonathan Lalancette, Eng., used for Monarques resources and qualified person within the meaning of regulation 43-101.
All rock samples were sent for preparation and analysis to the ALS Minerals laboratory in Val-d'Or, Quebec. This laboratory is accredited ISO/IEC 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.The samples were all analyzed by the method ME-MS41 (51 elements). For the analysis of gold, 650 samples were analyzed by the method Au-AA23 and 45 by the method PGM-ICP23.
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 & CEO
1-888-994-4465 x 201
jm.lacoste@monarquesresources.com
Vincent Janelle
Vice-President, Investor Relations
1-888-994-4465 x 202
Vincent.janelle@monarquesresources.com
www.monarquesresources.com
