Margaux Resources Ltd.

Margaux Resources Ltd.

January 15, 2015 08:00 ET

Margaux Resources Ltd. Reports Additional Drilling Results

CALGARY, ALBERTA--(Marketwired - Jan. 15, 2015) - Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Company") is pleased to release the results from holes E1433 through to E1435, the final holes drilled during the Company's 2014 program at the Jersey Emerald Property (the "Property"), located near the town of Salmo in south-eastern British Columbia.

Margaux completed 578.8 metres ("m") of drilling in three drill holes as a follow-up to the significant gold intercept in bismuthinite-bearing granite in hole E1411. Gold values returned from E1411 averaged 24.98 grams per tonne ("g/t") over 10.20 m from 116.8 to 127 m depth) including 1.7 m of 63.71 g/t gold (see Margaux News Release dated November 6, 2014).

A value of 68.3 g/t gold was returned from a 0.65 m wide sample of granite-skarn breccia in hole E1433 that may correlate with the gold-bearing structure of E1411. A more prominent granite dyke, similar to that in E1411, returned 3.43 g/t gold over 1 m. The results from the recent drilling are shown below.

HoleID UTMX UTMY Z Az Dip From To Length* Au WO3**
(m) (m) (mASL) (m) (m) (m) (g/t) (%)
E1433 483989 5439776 1402 303 -72 150.85 151.5 0.65 68.3 0
151.5 152.1 0.6 3.65 0.14
153.1 154.6 1.5 1.55 0.22
E1434 483989 5439776 1402 308 -72 159.6 160.5 0.9 2.81 0.18
153.5 154.15 0.65 0.01 0.31
178.45 179 0.55 0.01 0.42
E1435 483914 5439723 1395 33 -60 112.45 113.1 0.65 1.18 0.27
161.9 162.9 1 3.43 0
* 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

Gold intercepts such as these continue to provide evidence that the property has the potential to host gold zones within or adjacent to tungsten bearing zones. The recent drilling did not conclusively extend or limit the gold mineralization intercepted in E1411. Further work is required to determine the orientation and extent of this elevated-grade gold target.

Qualified Person

The Company's 2014 drilling program at the East Emerald Project was conducted under the supervision of Mr. Perry Grunenberg, P.Geo, 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 was logged and photographed at a secure facility on the Property. Selected 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 the project geologist or by commercial freighter to the ALS Global preparation facility in Kamloops, BC.

The samples were analyzed for 51 elements using aqua regia digestion with an ICP-MS or ICP-AES finish at the ALS Global facility in Vancouver, BC. Over-grade gold was analyzed using a 25 gram split for greater accuracy.

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 scope and nature of future drill programs.

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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