Margaux Resources Ltd.

Margaux Resources Ltd.

November 06, 2014 08:00 ET

Margaux Reports Additional Drilling Results

CALGARY, ALBERTA--(Marketwired - Nov. 6, 2014) - On November 5, 2014, Margaux Resources Ltd (TSX VENTURE:MRL) ("Margaux" or the "Company") reported drill results for the first ten drill holes completed on its 2014 drill program on its Jersey-Emerald Tungsten Property (the "Property") near Salmo, B.C.

Drill hole E1411 was designed to continue testing the tungsten ("WO3") mineralized target, similar to holes E1401 through E1410 (see News Release dated November 5, 2014). Hole E1411 intersected altered granitic rocks, with mineralization different from the skarn that hosts the majority of the tungsten on the Property. The granitic rock contains significant bismuthinite, with associated gold as seen in the table below:

(m ASL)
Dip Az From
Au (g/t) WO3
E1411 483954 5439795 1389 -90 0 116.80 127.00 10.20 24.98
Incl 118.20 118.80 0.60 55.40 0.46
Incl 120.70 122.40 1.70 63.71
Incl 123.10 125.00 1.90 58.74
* The true widths of the mineralized intercepts may be less than the drilled lengths reported.
Further interpretation using all drilling results is required to determine the true widths.
** WO3 calculated as W x 1.2611

This gold intercept continues to provide evidence that the property has potential to host gold, similar to the Bismuth-Gold zone documented in the Company's 43-101 technical report (the "Report") dated March 15, 2014 and filed on SEDAR March 31, 2014. The Company is encouraged by the results of this hole and while drill hole E1411, as a single stand-alone hole, does not provide enough information to assess the size of this gold mineralization, it anticipates exploring this area in further detail in the future.

Qualified Person

The Company's 2014 drilling program at the East Emerald Project was conducted under the supervision of Mr. Edward Lawrence, P.Eng, who is the Company's Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the technical disclosure contained in this news release as applicable.

Quality Assurance and Quality Control ("QA/QC") Procedures

Drill core is logged and photographed at a secure building on the property. Mineralized intervals were halved using a manual core splitter, and sampled at site. The remainder of the core was kept in the box as a permanent record. Samples were placed into sealed bags that were delivered by a commercial trucking company to the AcmeLabs facility in North Vancouver, British Columbia.

The samples were assayed for tungsten and 36 other elements using aqua regia digestion with an ICP-MS finish. Over-grade tungsten was analyzed using a phosphoric acid leach with an ICP-ES finish, and over-grade molybdenum, lead, and zinc were analyzed using a four acid digestion with an ICP-ES finish. Over-grade gold was analyzed using a 30 g fire assay with an ICP-ES finish.

Margaux has implemented a rigorous industry-standard QA/QC program that includes the blind insertion of certified reference materials, duplicates, and blanks into the sample stream.

About Margaux Resources Ltd.: Margaux is based in Calgary, Alberta and a publicly traded resource company with oil and gas exploration and production and an option on the Jersey Emerald Tungsten-Zinc Property near Salmo, British Columbia.

Cautionary Statements

This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the size, timing of completion and potential results of the Company's 2014 drill program and disclosure of the results thereof.

Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements and information but which may prove to be incorrect.

Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

The forward-looking statements contained in this press release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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