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Monarca Minerals Reports Completion of Phase 1 Exploration Drilling at San Jose Project and Preliminary Results Including 4.07 G/t Au over 3.0m
Toronto, Ontario--(Newsfile Corp. - November 9, 2021) - Monarca Minerals, Inc. (TSXV: MMN )&#...
About this update from Monarca Minerals Inc.
[{"type":"text","content":"Monarca Minerals Reports Completion of Phase 1 Exploration Drilling at San Jose Project and Preliminary Results Including 4.07 G/t Au over 3.0mToronto, Ontario--(Newsfile Corp. - November 9, 2021) - Monarca Minerals, Inc. (TSXV: MMN) (\"Monarca\" or the \"Company\") is pleased to announce that it has completed its Phase 1 San Jose exploration RC drilling program with 4,640.6m completed in 15 drill holes. Assay results from 7 of these drill holes are shown below in Table 1 and indicate significant Au, Ag, Cu, Pb and Zn mineralization, with the remaining assay results still pending from the laboratory.On Wednesday November 10, 2021, at 12:00 PM (Eastern Time) join Carlos Espinosa, President, CEO and Director of Monarca Minerals and Michael Smith, EVP, Exploration for a live webinar about competition of phase 1 of exploration drilling program and preliminary results. Please register at the following link: https://my.6ix.com/tymiKmdb Michael R. Smith, Monarca's Senior VP of Exploration commented, \"We are excited about the drill hole assays received to date, which demonstrate that precious and base metal mineralization is widespread. Large volumes of skarn and altered intrusive rocks have been intersected in the drilling, showing the potential for significant mineralization in the areas of existing IP anomalies, which are approximately 2.8 km in length. The exploration upside at the San Jose project is promising as evidenced by these very good initial assay results, the extent of alteration, and the generally wide spacing of the drill holes.\"The completed drill holes range from 140.2 to 408.4 m in depth and are inclined between 90 to -45. The RC drilling depths were locally limited by high water volumes. All drill holes have been left open for possible future re-entry with core. Downhole surveys were completed for all but one of the drill holes, due to a downhole survey instrument failure. Mineralization is hosted in both exoskarn and endoskarn and in silicified intrusive rocks, which are locally potassically altered (Table 1). The area of drilling covers only a small portion of the IP anomalies and the mining concessions (Figures 1).Drill holes SJ02, SJ05, SJ06, SJ07, SJ08, SJ11, and SJ12 were drilled along the eastern margin of the northern large IP anomaly (Figure 2). The drill holes intersected altered...