Monarch Gold Corporation reported the assay results from the first of seven geotechnical holes in the 2019-2020 diamond drilling program at its wholly owned Fayolle gold project, located 25 kilometres northeast of Rouyn-Noranda, near Monarch's Camflo mill. The drilling program started in December 2019 and was completed in mid-January 2020, with a total of 1,166 metres drilled in the seven holes. Eight shallow overburden/rock mechanics holes totaling 133 metres were also drilled in the area. The primary purpose of the drilling program was to collect geotechnical data in preparation for an upcoming feasibility study on the Fayolle deposit. The drill core was logged and assayed as part of the study. Assaying of the drill core from the first hole (FA-19-121) confirmed the presence of the mineralization and the block model grades, returning with 3.33 g/t Au over 109.0 metres. High-grade intervals with visible gold were found along the 109-metre interval, interspersed with almost continuous anomalous gold assays. The lower third of the interval intersected 3.33 g/t Au over 32.9 metres immediately below the current constrained pit shell, which could potentially change the shape of the resource envelope and increase the resource tonnage and ounces of gold. The Fayolle property is located in the Abitibi greenstone belt in the Abitibi West subprovince. The property is underlain with a basalt-komatiite-rhyolite sequence of the Lanaudière Formation and altered komatiites of the Malartic Group, separated by a band of fine siliceous sediments and injected with intermediate dykes. The property covers the structural imbrication zone involving the Manneville North, Manneville South and La Pause faults along a strike length of more than 3 km, with wide alteration zones (Fe-carbonate-sericite) that contain brecciated mineralized zones. Gold mineralization is hosted in both porphyritic dykes of intermediate composition and volcanic rocks.