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Margaux Resources Announces Execution of Definitive Agreement to Acquire Cassiar Gold Project in Northern British Columbia
Calgary, Alberta--(Newsfile Corp. - March 26, 2019) - Margaux Resources Ltd. (TSXV: MRL) (OTCQ...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Margaux Resources Announces Execution of Definitive Agreement to Acquire Cassiar Gold Project in Northern British ColumbiaCalgary, Alberta--(Newsfile Corp. - March 26, 2019) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (\"Margaux\" or the \"Company\") is pleased to announce that it has executed the definitive agreement with Wildsky Resources Inc. (\"Wildsky\") for an option to acquire a 100% interest in the Cassiar Gold Project (the \"Property\") in northern British Columbia by way of an all-share agreement. The Cassiar Gold Project is a road-accessible, advanced-stage orogenic gold system, with a historical Inferred Resource of 1.04 million ounces gold (32.4 million tonnes at an average grade of 1.0 g/t gold using a cut-off grade of 0.5 g/t gold). The resource is supported by a technical report entitled \"Technical Report on the Taurus Project, Liard Mining District, B.C. for Cusac Gold Mines Ltd.,\" dated May 15, 2009, and prepared by Wardrop Engineering Inc. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and Margaux is not treating the historical estimate as current mineral resources or mineral reserves. The Taurus resource does not incorporate the results of drilling completed within the resource area in 2009 or 2012. As Margaux works to complete its evaluation of the Property it anticipates identifying and completing a drill program in 2019, completing further QA/QC work and engaging an independent reserves evaluator to complete an updated 43-101 report.Tyler Rice, President and CEO for Margaux, stated, \"The Sheep Creek and Cassiar projects are two of the three regions identified in recently published GeoScience BC report as having good upside potential for orogenic gold mineralization in BC. The third area identified in that same report is Barkerville, which has recently become an active gold producing site. Margaux looks forward to applying our learning and geological insights from our recent work at Sheep Creek to the Cassiar project.\" On the Cassiar Property, gold mineralization occurs along a 15 km corridor of veining[1]. Within this structural corridor, gold occurs both as discrete high-grade veins and as near-surface low-grade style mineralization. Past-production from the property (primarily 1979-1997) is approximate...