TORONTO, Dec. 18, 2019 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) has received results from its channel sampling program on the Villeneuve Structure located on the Company’s SPJ Property, 40 kilometres east of Sudbury, Ontario. All channel samples returned gold (up to 147.8 g/t), as well as variable cobalt, copper and nickel. The Villeneuve Structure will be one of the main targets of MacDonald’s upcoming Winter 2020 follow-up drilling program that will be announced when finalized.
Highlights of channel sampling on the Villeneuve Structure:
- 27 channel samples, from 7 channels, returned gold values between 0.1 and 147.8 g/t over channel lengths of 0.5 m to 2 m;
- Four (4) samples returned cobalt values over 100 ppm over channel lengths between 1 and 2 m;
- SMT-19-001-E* intersected 81.72 g/t gold and 0.065% cobalt over 2 m including 147.8 g/t gold and 0.1% cobalt over 1 m in the center of the Villeneuve Structure.
*The reader is cautioned that the high-grade gold mineralization encountered in channel SMT-19-001-E may not be representative of mineralization in all the gold-bearing structures of the Scadding Deposit.
The Villeneuve Structure is located 70 metres east of the high-grade discovery zone highlighted by 26.2 m of 7.99 g/t gold in the recently reported drill hole SM-19-022 and east of the E-W Pit area where hole SM-19-018 intersected 3.99 g/t between 31 – 32 metres depth (see December 9, 2019 News Release and Figure 1). The bedding in the sedimentary sequence of the Villeneuve Structure strikes toward the E-W pit and the new high-grade zone discovered in hole 22.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2333747a-1e42-4e16-b307-110db6ccd0cf
Quentin Yarie, MacDonald’s President and CEO commented: “Our channel sampling of the Villeneuve Structure, located 70 m east of our high-grade gold discovery in SM-19-022, indicates that gold mineralization extends >400 m east of the footprint of the historical Scadding Deposit. These results show that cobalt, nickel and copper mineralization is associated with gold mineralization and may be indicative, as we have interpreted, of a larger mineralized system. Hole SM-19-018 shows that the Villeneuve Structure extents at depth and our channel sampling shows that very high-grade mineralization can be present in this structure. This represents an exciting exploration target, located very close to our significant discovery in SM-19-022.”
Table 1. Highlights from channel samples at the Villeneuve Structure:
* Assays results presented over sample length. Additional work is necessary to estimate true width in the mineralized zones exposed on the Villeneuve trench
Metallic screen analyses of the high-grade samples of the Villeneuve Structure revealed a very strong nugget effect affecting gold distribution in the structure. A significant component of coarse-gold was detected in the analyzed samples (up to 26 g/t). This high nugget effect explains the heterogeneous gold distribution in the channel samples taken at the Villeneuve Structure. The same nugget effect also likely explains the unexpected lower gold grade, even though visible gold was observed, in hole SM-19-018 that intersected the Villeneuve Structure.
MacDonald’s 2019 Trenching Program
As part of its 2019 exploration program on the SPJ Project, MacDonald completed a mechanized stripping and channel sampling program to expand the footprint of the mineralized zones of the Scadding Deposit. East of the E-W pit, MacDonald’s surface work recognized a significant zone of chlorite alteration, characteristically associated with gold mineralization, which had not been channel sampled by previous operators - the Villeneuve Structure.
The Villeneuve Structure had limited exposure and was covered with overburden. Channel sampling uncovered a zone of very high-grade gold with cobalt mineralization in an area that is characterized by chlorite alteration mixed with incipient to moderate quartz veining. MacDonald also identified two structural trends that control the geometry of chlorite alteration and gold mineralization associated with the Villeneuve Structure. One structural trend is oriented NNE and steeply dips to the ESE. The other structural trend is defined by the orientation of bedding in the sedimentary sequence that dips moderately to steeply to the NNE and strikes toward the E-W Pit and the high-grade gold zone discovered in hole SM-19-022.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Channel 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 channel samples. 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 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).
Figure 2 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c90ec2cc-4579-4df8-8cc0-1594b3d6243b
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.