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Margaux Resources Announces Acquisition of the Bayonne and Sheep Creek Properties in Southeastern British Columbia
(via TheNewswire) CALGARY, ALBERTA -- (The Newswire - January 6, 2017) M...
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[{"type":"text","content":"Margaux Resources Announces Acquisition of the Bayonne and Sheep Creek Properties in Southeastern British Columbia(via TheNewswire)\n \n \nCALGARY, ALBERTA -- (The Newswire - January 6, 2017) \n\n\n \nMargaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) (\"Margaux\" or the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Option Agreement\") with Yellowstone Resources Ltd. (a private company, based in British Columbia) for the acquisition of 100% of the Bayonne and Sheep Creek properties (the \"Properties\"), located in Salmo, British Columbia.\n\n \n \n\"We are extremely excited to be adding the Bayonne and Sheep Creek properties to our portfolio,\" commented Company CEO and President, Tyler Rice. \"These gold and silver prospective properties are the latest high-quality acquisitions in Margaux's Kootenay Arc regional consolidation plan, providing diversity to our portfolio within our core operating area.\"\n\n \n \n\nClick Image To View Full Size\n\n \n \nMargaux's continuing evaluation of the Jersey-Emerald mine and the recent acquisition of the Jackpot/Oxide properties has encouraged the Company to acquire additional properties in the immediate vicinity of its Jersey-Emerald mine. \"With this acquisition, Margaux is pursuing a regional consolidation strategy targeted at prospective historical mining sites proximal to Margaux' core assets, where we believe there is likely to be untapped polymetallic mining opportunities. Much of the historic mining in this region dates back prior to the turn of the century, when modern exploration and mining technologies were not available, leaving high potential for unexploited opportunities. Today the Kootenay region is also supported with well-developed infrastructure and easy access to nearby smelters and processing facilities\" said Mr. Rice. \n\n \n \nThe Bayonne and Sheep Creek properties are located approximately 42 kilometres and 12 kilometres, respectively, east of Salmo, BC. The Properties consist of 79 Crown granted claims (1,083 ha) and 13 mineral cell claims (972 ha) in the Nelson Mining Division, and are prospective for gold and silver. \n\n \n \nThe Properties form part of the Kootenay Arc belt in southeastern British Columbia, a northerly trending arcuate structural zone, which includes Proterozoic to Ordivician sedimentary rocks which h...