Margaux Resources Announces Letter of Intent to acquire Cassiar Gold Project in northern British Columbia

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[{"type":"text","content":"Margaux Resources Announces Letter of Intent to acquire Cassiar Gold Project in northern British ColumbiaCalgary, Alberta--(Newsfile Corp. - January 21, 2019) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (\"Margaux\") is pleased to announce that it has entered into a non-binding Letter of Intent (\"LOI\") with Wildsky Resources Inc. (\"Wildsky\") for an option to acquire the Cassiar Gold Project (the \"Property\") in northern British Columbia by way of an all-share agreement. The Cassiar Gold Project is an advanced-stage orogenic gold system, with past-production (primarily 1979-1997) of approximately 920,000 tonnes at an average grade of 11.9 grams per tonne (g/t) gold, or a total of 350,000 ounces of hard rock gold1. During this period, portions of the Property were held by different operators, and production was from different mine operations (predominantly underground) utilizing different mill facilities. The Property has been subsequently amalgamated, now covers 60,000 hectares, and includes all of the areas of historic production, as well as the unmined resources described below. The Property is road accessible and has significant existing infrastructure, including a permitted 270 tonne per day flotation and gravity mill, numerous ancillary buildings, a tailings storage facility, as well as a 30 man camp with grid power.The Property is also the site of a historical placer gold rush during the late 1800's, when an estimated 100,000 ounces of placer gold was produced, including the largest gold nugget ever discovered within British Columbia.Tyler Rice, President and CEO for Margaux, stated \"The Sheep Creek and Cassiar projects are two of the three regions identified in recently published by 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 larger and equally promising Cassiar project.\" On the Cassiar Property, gold mineralization occurs along a 15 km corridor of veining2. Within this structural corridor, gold occurs both as discrete high-grade veins and as near-surface low-grade bulk tonnage style mineralization. The Taurus bulk tonnage target, ...

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