Toronto, Ontario – December 9, 2019 – MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces results from four holes of its now completed Fall 2019 drilling program at the Company’s SPJ Property, 40 kilometres east of Sudbury, Ontario. Results are highlighted by hole SM-19-022 with the discovery of a significant zone of near-surface gold mineralization north of the Scadding East-West (“E-W”) Pit – 7.99 g/t gold over 26.2 metres including 10.98 g/t over 4.98 metres and 11.54 g/t over 13.24 metres was intersected from 16 to 42 metres depth. Twenty-five (25) holes have been completed with 9 holes reported to date. The remaining 16 holes are being processed and assay results will be announced as they are received.
Table 1. Assay highlights from reported holes
|Hole||From (m)||To (m)||Length (m)*||Gold (g/t)||Gold Structure|
|SM-19-007||No significant results|
|SM-19-022||16.00||42.20||26.20||7.99||Discovery – TBD|
* Assays results presented over core length. In SM-19-006 they are estimated to represent 65-75% true width in the North Zone. Additional drilling is necessary to estimate true width in the zones discovered in SM-19-018 and SM-19-022.
“Our 2019 drilling program shows that significant zones of near-surface, high-grade gold mineralization are present beyond the original footprint of the historic operations of the Scadding Deposit. Having successfully completed the first phase of our diamond drilling program at Scadding, we will now finalize the logging of all remaining drill holes, update our geological model of the deposit and define the next targets for the budgeted early 2020 diamond drilling campaign.”
Quentin Yarie, MacDonald’s President and CEO
Table 2. Diamond Drill Hole Locations
Figure 1. Location of reported drilling to date relative to Scadding Mine.
Summary of the Fall 2019 Drilling Program
The objectives of the Fall 2019 drilling program were to confirm and expand the zones of high-grade gold mineralization, documented along several mineralized structures, that form the Scadding Deposit.
The structures targeted included those associated with gold mineralization in the North, South and E-W pits of the Scadding Mine, the Scadding underground mine, the Villeneuve discovery, the historic New Zone located between the Scadding Mine and the E-W Pit, and a historic exploration pit located between the New Zone and the E-W Pit. Evidence of chlorite alteration associated with gold mineralization was observed in all the completed drill holes:
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core 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.
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
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).
Figure 2. Macdonald Mines SPJ Property
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, email@example.com
Or Mia Boiridy, Investor Relations, (416) 364-4986, firstname.lastname@example.org
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.
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.