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Margaux Resources Announces Approval for Acquisition of the Sheep Creek & Bayonne Properties, Plus Grab Sample Results from the Newly Acquired Assets
(via TheNewswire) CALGARY, ALBERTA / The Newswire / February 8, 2017 Marg...
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[{"type":"text","content":"Margaux Resources Announces Approval for Acquisition of the Sheep Creek & Bayonne Properties, Plus Grab Sample Results from the Newly Acquired Assets(via TheNewswire)\n \n \nCALGARY, ALBERTA / The Newswire / February 8, 2017\n\n\n \nMargaux Resources Ltd. (TSX VENTURE: MRL, OTCQB: MARFF) (\"Margaux\" or the \"Company\") is pleased to announce that the TSX Venture Exchange has accepted the filing documentation and approved the issuance of common shares thereunder relating to the Company's option agreement with Yellowstone Resources Ltd. (the \"Option Agreement\"). Pursuant to the Option Agreement, Margaux has the exclusive option to acquire 100% of the Sheep Creek and Bayonne gold properties in southeastern British Columbia. In addition, Margaux is pleased to announce grab sample results from the newly acquired properties.\n\n \n \n\"The high-grade assay results indicate that the Sheep Creek and Bayonne properties offer great exploration potential,\" commented Tyler Rice, President and CEO. \"These high-quality properties combined with our Jersey-Emerald and Jackpot/Oxide properties, add to Margaux's vision to be a polymetallic, regional consolidator in the Kootenay Arc.\" \n\n \n \nThe Company collected grab samples from both the Sheep Creek and Bayonne properties and identified samples that contained gold grades of 71.5 g/t and 17.75 g/t. Margaux is encouraged by these initial results on its latest optioned properties and looks forward to continued exploration to expand the potential of the Sheep Creek and Bayonne. \n\n \n \nTable 1. Grab samples assay results from Sheep Creek and Bayonne properties\n\n \n\nLocation\n\n\n\n\nVein\n\n\n\n\nSample\n\n\n\n\nNote\n\n\n\n\nAu\n\n\n\n(g/t)\n\n\n\n\nAg \n\n\n\n(g/t)\n\n\n\n\nSheep\n\n\n\nCreek\n\n\n\n\nGoldBelt 1850 level\n\n\n \n\n\n1850-01\n\n\n\n\nMain crosscut, 90 cm quartz vein along bedding\n\n\n\n\n1.16\n\n\n\n\n1.0\n\n\n\n\n3040\n\n\n\n\n3040-01\n\n\n\n\nAbout 1.5 m thick, dipping south\n\n\n\n\n4.35\n\n\n\n\n2.4\n\n\n\n\n3040-02\n\n\n\n\n3040 vein, 1.2 m thick subvertical\n\n\n\n\n17.75\n\n\n\n\n10.2\n\n\n\n\n2800\n\n\n\n\n2800-01\n\n\n\n\nQuartz vein\n\n\n\n\n0.12\n\n\n\n\nNA\n\n\n\n\n2800-02\n\n\n\n\nQuartz vein along the bedding\n\n\n\n\n0.23\n\n\n\n\nNA\n\n\n\n\n2800-03\n\n\n\n\nQuartz vein striking 65 degrees\n\n\n\n\n0.13\n\n\n\n\nNA\n\n\n\n\n2590\n\n\n\n\n2590-01\n\n\n...