Toronto, Ontario – November 13, 2019 – MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces highlights from nineteen grab samples collected outside of the Scadding Mine footprint. Polymetallic mineralization, indicative of an Iron-Oxide-Copper-Gold (‘IOCG’) deposit, was observed 3.5 kilometres northeast of the Scadding Mine (Figure 1). The grab samples, collected in the northern extension of the previously reported uranium anomaly (Oct. 1, 2019 News Release) returned anomalous cobalt, copper, nickel and gold. (Figure 2, Table 1). The Company has expanded its exploration program to include additional geophysical surveys. The current drill program at the Scadding Mine is ongoing and assay results will be announced as they are received.
Figure 1. Location of grab samples
Quentin Yarie, MacDonald’s President and CEO commented: “Our
2019 surface exploration program at the Scadding Deposit, combined with
our 2018 exploration work on the Powerline and Jovan properties,
suggest that the SJP Property may host an under-explored
Iron-Oxide-Copper-Gold system that extends over several kilometres in
both strike and width. The system has the potential to host zones of
gold, copper, cobalt and nickel mineralization. Our results to date
validate the spatial association between airborne uranium anomalies and
polymetallicmineralization, providing us with a powerful
exploration tool to identify new zones of mineralization as we continue
to advance our exploration program on the property.”
Figure 2. Grab samples* in relation to uranium anomaly (*The reader is cautioned that grab samples are selective by nature and may not represent the true mineralization on the property.)
Table 1: Assay highlights from grab samples (The reader is cautioned that grab samples are selective by nature and may not represent the true mineralization on the property.)
Sample ID
Gold (Au)(g/t)
Cobalt (Co) (ppm)
Copper (Cu) (ppm)
Nickel (Ni) (ppm)
X
Y
3482955
0.04
38.2
4.6
142.2
530875
5168262
3482956
0.1
64.1
9.5
205
530874
5168257
3482957
4.89
1356.1
25.7
831.1
530872
5168251
3482958
6.24
19.3
2.6
109.6
530883
5168273
3482959
0.60
18.6
15790
50.1
530643
5168221
3482960
0.49
31.3
14850
8
530642
5168225
3482961
0.46
44.5
33270
32.5
530649
5168224
3482962
0.01
64.5
49.7
102.3
530814
5168194
Northern and Western extensions of the Scadding Deposit hydrothermal system MacDonald’s
surface work encountered the presence of copper-gold mineralization,
associated with a stockwork of quartz veins mineralized with
chalcopyrite and pyrite, 3.5 kilometres north of the Scadding Mine, near
the Ashigami Showing. MacDonald’s exploration work also expanded the
known occurrences of gold and cobalt mineralization 25 metres north and
south along a NNE strike.
This style of gold-cobalt
mineralization, associated with pyrite, is comparable to zones of
gold-cobalt mineralization on the Powerline Property, 5 kilometres SE of
the Ashigami Showing. MacDonald’s work in 2018 on the Powerline
Property indicated that this type of mineralization in the limestone
units of the Espanola Formation could be proximal to zones of iron-rich
chlorite alteration that are associated with high-grade gold
mineralization in the Scadding Deposit.
West of the Scadding
Deposit, surface work revealed that sodic alteration (the addition of
sodium (Na)) extends 250 metres west of the known footprint of the
deposit. Sodic alteration has been shown to be associated with gold-rich
chlorite zones in the Scadding Deposit. This observation indicates that
the gold bearing system remains open to the west.
Geophysical surveys The
company has engaged Expert Geophysics Limited to test the applicability
of their new TEM system with controlled source field to map the
chloritic structures around the Scadding deposit. TEM combines the
latest advances in electronics, airborne system design, and
sophisticated signal processing techniques. The survey is expected to be
completed in November 2019.
Starting in early 2020, Dias
Geophysical will carry out a 3D resistivity and IP survey with its
proprietary DIAS32 system across the highly prospective Scadding Deposit
area. The survey will cover an area of 500 metres by 650 metres and
will see to a depth of up to 200 metres. The survey is designed to
detect and map the chloritized veins that host the gold mineralization,
and the IP parameter will be sensitive to the sulphide mineralization
that carries the gold. Dias Geophysical’ CVR technology produces
uniquely dense and rich data sets from which high-resolution 3D models
are generated. These accurate 3D models will be integrated with our
geological and other geophysical data to inform our ongoing
interpretation and target drilling.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures Grab
samples were transported in security-sealed bags for analyses to Bureau
Veritas. in Timmins, Ontario. Individual samples are labeled, placed in
plastic sample bags and sealed. Groups of samples are then placed into
durable rice bags and then shipped. The remaining coarse reject portions
of the samples remain in storage if further work or verification is
needed.
As part of its QA/QC program, MacDonald inserts external
gold standards (low to high grade) and blanks every 20 samples in
addition to random standards, blanks, and duplicates. All samples over
10 g/t gold or the samples with abundant visible gold are analysed by 1
kilogram metallic screen.
SPJ Property highlights • 100% ownership • 17,720 hectares, 20 kilometres from Sudbury, ON • In excellent mining jurisdiction and close to infrastructure • Hosts the high-grade past producing Scadding Gold Mine • Evidence of polymetallic mineralization at the Scadding Deposit indicative of IOCG potential • Significant gold, cobalt-copper, silver, nickel and rare earth showings outside of the current Scadding Deposit footprint
Historically,
the Scadding Mine produced 914 kilograms of gold from 127,000 tonnes of
mineralized material grading 7.2 g/t (OFR 5771). MacDonald’s
reinterpretation of the geological model at the Scadding Deposit and
larger SPJ property indicates that it could host a gold-rich
Iron-Oxide-Copper-Gold deposit and that significant gold structures may
have been missed by previous operators’ drilling campaigns (2009-2011).
Qualified Person Quentin
Yarie, P Geo. is the qualified person responsible for preparing,
supervising and approving the scientific and technical content of this
news release.
About MacDonald Mines Exploration Ltd. MacDonald
Mines Exploration Ltd. is a mineral exploration company headquartered
in Toronto, Ontario focused on gold exploration in Canada. The Company
recently acquired the high-grade past-producing Scadding Gold Mine and
is focused on developing its large SPJ Project in Northern Ontario.
The Company’s common shares trade on the TSX Venture Exchange under the symbol “BMK”.
To learn more about MacDonald Mines, please visit www.macdonaldmines.com or insidexploration.com/BMK/
For more information, please contact:
Quentin Yarie, President & CEO, (416) 364-4986, qyarie@macdonaldmines.com
Or Mia Boiridy, Investor Relations, (416) 364-4986, mboiridy@macdonaldmines.com
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