Business
Margaux Resources Ltd. Advances Exploration Strategy; Completes Two Important Consolidations of Contiguous Lands, Projects and Mineral Tenures; Announces Amendment to Jersey Emerald Option Agreement
Calgary, Alberta--(Newsfile Corp. - February 27, 2018) - Margaux Resources Ltd. (TSXV: MRL) (O...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Margaux Resources Ltd. Advances Exploration Strategy; Completes Two Important Consolidations of Contiguous Lands, Projects and Mineral Tenures; Announces Amendment to Jersey Emerald Option AgreementCalgary, Alberta--(Newsfile Corp. - February 27, 2018) - Margaux Resources Ltd. (TSXV: MRL) (OTCQB: MARFF) (\"Margaux\" or the \"Company\") is pleased to report that it has completed two significant consolidations of lands, projects and mineral tenures, to establish the Margaux Sheep Creek Gold District, and the Margaux Kootenay Arc Zinc District (collectively the \"Districts\").The Sheep Creek Gold District and Kootenay Arc Zinc District are adjoining Margaux projects, which together cover over 24,000 hectares of mineral tenure.For the first time ever, Margaux has consolidated the mineral claims in this area under one ownership. As a result, the Company will now have clear lines of sight over previously fragmented but highly prospective mineral tenures, and an improved opportunity to unlock their respective resource potentials using systematic exploration approaches and digital-age exploration technology.These Districts, in southeastern British Columbia (\"BC\"), Canada, each formerly consisting of highly fragmented and widely held parcels, mineral tenures, rights, options, access agreements and land positions, have been assembled by Margaux as contiguous Districts, under one ownership, for the purposes of mineral exploration and development.Sheep Creek Gold DistrictMargaux's Sheep Creek Gold District is the third-largest, past-producing orogenic gold district in BC (after Barkerville and Bralorne). Historic gold production from the Sheep Creek Gold District was 785,000 oz gold at an average grade of 14.4 g/t gold (0.42 oz/t gold).\"This is an asset that was hiding in plain sight - neglected,\" said Tyler Rice, Margaux's President and CEO. He continued, \"Success leaves tracks: old-timers found nearly 800,000 ounces here, following single veins in the dark. Having completed the consolidation of these contiguous mineral tenures, Margaux has the opportunity to obtain, for the first time, a more complete understanding of the geologic formation and to apply exploration technologies that those early miners never could have imagined.\"Margaux holds lands, rights and options to the Company's Sheep Creek Gold District, acquired in 2017, thro...