TORONTO, June 17, 2020 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) reports the remaining assay results from its Winter 2020 drilling program and results from 3 holes of its Spring 2020 drilling program at the SPJ Property, 20 km east of Sudbury, Ontario. Hole 41 intersected 27.2 g/t gold over 5.13 m in a new, near-surface discovery in the western extension of the New Zone-Villeneuve trend. Hole 43 intersected 2.3 g/t gold over 6.04 m and 2.1 g/t gold over 3.08 m in the New Zone-Villeneuve trend extending the zone of near-surface mineralization discovered in SM-19-022 (Dec. 9, 2019 News Release). The mineralization in the New Zone-Villeneuve trend has been traced over more than 225 metres along strike and remains open along strike and to depth. These initial results from the Spring program corroborate the recently completed IP survey data used to target the drilling for this year’s program (Figure 1). Results for another 4 holes drilled this spring are pending and will be announced as they are received.
Figure 1. Plan map of assay results on IP anomaly
Quentin Yarie, MacDonald’s President and CEO stated, “Our
near-surface drilling continues to significantly extend the lateral
footprint of mineralization at the Scadding Deposit. These latest
results show that thick, high-grade mineralization, located along the
trend of the historic East-West Pit, remains open. The development of a
correlation of the IP data with the gold assays has proven a powerful
tool. We have paused drilling as we await assays and conduct mapping and
field work to evaluate several new trends identified by the large 700m
by 700m IP anomaly and the Jovan and Powerline prospects.”
Table 1. Assays from reported holes
Hole
From (m)
To (m)
Length* (m)
Visible Gold Observed
Gold (g/t)
SM-20-037
No significant results
SM-20-038
2.77
4.27
1.50
0.9
130.3
132.51
2.21
yes
0.7
SM-20-039
No significant results
SM-20-040
Intersected diabase dyke – No significant results
SM-20-041
11.76
16.89
5.13
yes
27.2
including
11.76
12.73
0.97
yes
23.6
15.02
15.86
0.84
yes
34.4
15.86
16.89
1.03
yes
79.3
SM-20-043
3.72
9.76
6.04
yes
2.3
including
6.54
7.41
0.87
yes
9.2
40
42.05
2.05
3.0
*
Assay results are presented over core length. Additional drilling
remains necessary to clearly constrain the geometry of the zones of
mineralization and estimate the true width of the reported
intersections.
MacDonald utilized its recent IP survey,
combined with other data, to target its Spring 2020 drill targets. The
survey, conducted over an area of approximately ~700m by 700m, shows a
number of east-west trends that correlate with the historic pits and
underground operations and illustrates the potential extent of
mineralization around Scadding (Figure 1).
IP Interpretation
The
Company has been interpreting the IP survey data collected in January
2020. Review of the resistivity and chargeability data has shown that
there is a correlation of low resistivity and high chargeability with
gold mineralization. A modified “metal factor” has been calculated
utilizing this relationship and a plan map of these results is shown in
Figure 1. Cross sections with borehole intercepts are also presented in
Figures 2 and 3.
Figure 2. Cross-section of hole SM-20-041
Figure 3. Cross-section of hole SM-20-043
The
calculated metal factor modelling agrees with MacDonald’s measured dip
and strike from both the orientated core and surface measurements. The
resulting product is providing the Company with a high degree of
certainty on the placement of future drill holes to intersect
mineralization. The data also visualizes the massive extent of
potential mineralization within the area of the IP survey (~700m by
700m) showing several east-west trends and folding that correlate with
the historic pits and underground operations.
The low
resistivity values appear to be related to the chlorite/non albitized
parts of the system with the chargeability correlating well with the
sulfides. The two events don’t always correlate so the calculated
derivative takes this factor and presents the data in a very beneficial
manner.
Table 2. Coordinates of reported holes
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth (m)
SM-20-037
529304
5166682
309.3
241
-78
241.58
SM-20-038
529318
5166724
301.4
251
-61
171.00
SM-20-039
529247
5166751
305.8
241
-45
142.00
SM-20-040
529285
5166484
312.1
305
-46
136.68
SM-20-041
529377
5166469
309.7
303
-45
97.00
SM-20-043
529558
5166480
299.0
234
-60
64.00
Holes SM-20-037 to -039
were drilled to test the down-dip and lateral continuity of the zone of
chlorite alteration in the Bristol/Monaco Structure in the North Pit
area. The holes successfully intersected chlorite alteration in the
projected extensions of the structure, including visible gold in
SM-20-038. The successful intersection of chlorite alteration in all the
holes shows that the mineralized structures remain open laterally and
at depth, and that additional drilling could uncover new zones of gold
mineralization.
Hole SM-20-040
was testing the down-plunge extension of the mineralization intersected
in SM-19-012, in the extension of the structure that hosts the Scadding
underground mine. The hole intersected an unexpected diabase dyke where
the chlorite zones were expected.
Hole SM-20-041
was testing the hinge area of a fold in the New Zone-Villeneuve trend,
80 metres west of the western end of the E-W pit where trenching
identified chlorite alteration in folded sedimentary rocks. Results
from SM-20-041 indicate that the hinge area is well mineralized.
Holes SM-20-043 sucessfully
intersected the down-plunge extension of the high-grade mineralization
discovered in the New Zone-Villeneuve trend in SM-19-022, in the eastern
extension of the E-W pit. It was collared in chlorite alteration that
was never previously recognized and visible gold was observed in one
location in the chlorite zone in association with later quartz veining.
SM-20-043 indicates that the gold-mineralized iron alteration zone
extends down-dip and down-plunge of the intersection in SM-19-022.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill
core samples were transported in security-sealed bags for analyses to
SGS in Sudbury, 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 in case further work or verification
is needed.
MacDonald has implemented a
quality-control program to comply with best practices in the sampling
and analysis of drill core. 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
18,340 hectares 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 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
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
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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