MacDonald Mines Completes 15 Drill Holes and Identifies Multiple High-Grade Gold Structures in the Scadding Deposit
TORONTO, Nov. 06, 2019 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that it has completed 15 drill holes and one trench to date in the Scadding Deposit and provides a summary and analysis of its on-going exploration program at the Company’s SPJ Property, 20 kilometres east of Sudbury, Ontario. Initial observations indicate that multiple mineralized structures are present on the property, see Figure 1. Assay are pending and will be announced as they are received.
Quentin Yarie, MacDonald’s President and CEO commented: “The first five holes of our on-going drill program indicate that significant high-grade gold exists in the Scadding Deposit. The gold mineralization is controlled by a series of structures that are wider and of higher-grade than previously reported. More importantly, our results also show that there is continuity of these gold bearing structures. The two mineralized structures in the North Pit area – the Bristol and Monaco structures, remain open in all directions and they have been followed over 100 metres along strike and down dip over 150 metres. With the data gathered so far we are building a predictive geological model that is guiding our selection of drill targets as we continue to expand the mineralization of the SPJ Property.”A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cba43c03-2aa6-4b8f-b943-b55a9d31beb2Table 1. Assay highlights from reported holes SM-19-001 to SM-19-005:* Assays results presented over core length. In SM-19-001 they are estimated to represent 65-75% true width in the Bristol and Monaco Structures. In SM-19-002 to SM-19-005 they are estimated to represent between 75 and 85% true width in the Bristol and Monaco Structures. Additional drilling is necessary to define the geometry of the discovered zones.The attributes of gold mineralization in the Scadding Deposit differ from the classic Canadian orogenic gold deposits. Gold mineralization in the Scadding Deposit is associated with iron-rich chlorite alteration containing variable pyrite, pyrrhotite, magnetite, and minor to accessory chalcopyrite instead of quartz and quartz-tourmaline veins.MacDonald’s drilling to date supports the hypothesis that gold mineralization in the Scadding Deposit is primarily controlled by a series of north- to north-northeast-oriented structures laterally distributed in a west to east corridor at least 500 metres-wide. This new structural interpretation supports the geological continuity of gold mineralization in the Bristol and Monaco structures identified near the North Pit of the Scadding Deposit and is enabling the development of a predictive geological model that will assist in the identification of drilling targets in the entirety of the Scadding Deposit. For the newly discovered Daytona and Kyalami structures where assay results confirmed gold mineralization in holes SM-19-003, SM-19-004 and SM-19-005, additional drilling will be required to evaluate their geological continuity.Mechanized stripping program at the Scadding Deposit
Following the positive results obtained in grab samples located in the potential extensions of the Scadding Deposit (October 1, 2019 news release), MacDonald’s mechanized stripping program uncovered a significant zone of chlorite alteration centered on a N-S structure named the Villeneuve Structure (Figure 1).Multiple indicators of gold mineralization were observed in the broad zone of chlorite alteration exposed on the Villeneuve trench (Image 1). Channel samples were observed to contain pervasive disseminations of pyrite with minor chalcopyrite in the chlorite and a sample contained specks of visible gold (Image 2). The Villeneuve showing is located approximately 50 metres east of the E-W Pit of the Scadding Deposit and indicates that the broader N-S structural corridor that is associated with gold mineralization in the Scadding Deposit extends over 500 metres laterally in an east-west orientation.Photos accompanying this announcement areavailable at
https://www.globenewswire.com/NewsRoom/AttachmentNg/85c19c6a-35ad-4cc5-8f6d-aa95b8e9f730Fall 2019 Exploration Program
The objective of the current drill program is to confirm and expand the high-grade gold zones of the Scadding Deposit. To date, 15 holes have been drilled for a total of 2,488 metres. Of those, 1,543 metres have been logged. Samples are sent to the lab in batches and assay results will be announced as they are received.Holes SM-19-001 to SM-19-005 were drilled in the North Pit area of the Scadding Deposit. It covered a strike length of 100 metres and a down-dip extension of 100 metres and shows that the Zone remains open in all directions.
Holes SM-19-006 and SM-19-007 tested the gap between the Scadding Mine and the North Pit. A new chlorite breccia zone was intersected in SM-19-006 that could represent the deeper extension of the Bristol Structure, 220 metres down-dip of SM-19-003.
Hole SM-19-008 successfully intersected the down-dip extension of the Bristol and Monaco structures in the North Pit area. One speck of visible gold, in addition to variable pyrite and minor chalcopyrite mineralization, were observed in both the Bristol and Monaco structures in SM-19-008.
Hole SM-19-009 tested a chlorite-bearing structure, located west of the Scadding Mine that is exposed near MacDonald Mines’ core logging facility on the Scadding Deposit. One speck of visible gold, variable pyrite and minor chalcopyrite mineralization were observed in the zone of chlorite in SM-19-009.
Holes SM-19-010, SM-19-011 and SM-19-012 were collared east of the Scadding Mine to test mineralization in the vicinity of the underground workings of the Scadding Mine. They intersected two new N-S structures – the Calabogie and Mosport structures that also host zones of chlorite alteration with variable pyrite and pyrrhotite, and minor chalcopyrite mineralization. Specks of visible gold were observed in the chlorite zone of the Mosport structure in SM-19-012. SM-19-011 had to be terminated before intersecting the Mosport structure as it went through the Scadding Mine underground development.
The structure where visible gold was intersected in SM-19-009 was also possibly intersected in holes SM-19-010 and SM-19-012. Holes SM-19-010 and SM-19-012 also successfully intersected the northern and southern extension of the chlorite-bearing structure mined in the Scadding Mine – the Talladega Structure. This is suggesting that the zones of chlorite alteration associated gold mineralization in the Talladega Structure remains open in every direction outside of the underground developments of the Scadding Mine.
SM-19-013 tested the shallower extension of a chlorite structure located between the Scadding Mine and the EW-pit historically named the New Zone. The hole successfully intersected two structures hosting chlorite alteration containing variable pyrrhotite and pyrite, and minor chalcopyrite mineralization. However additional pierce points are necessary to define the geometry of the structures in the New Zone area.
SM-19-014 and SM-19-015 tested the western extension of the E-W Pit and successfully intersected zones of chlorite alteration with variable pyrrhotite, pyrite and magnetite, and minor chalcopyrite, in a new N-S structure named the Bugatti structure. The Bugatti structure is interpreted as one of the structures that controls chlorite alteration and gold mineralization shallowly mined in the E-W pit. Additional drilling is however necessary to confirm the geometry of the Bugatti structure.In addition to drilling, MacDonald’s exploration program on the SPJ Property also includes prospecting and trenching. Mechanized stripping continues in areas where the Company’s recent compilation of historic data, prospecting and surface mapping uncovered potential zones of chlorite and magnetite alteration that were never drilled before. Results of trench sampling will be announced as they are received.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 highlights100% ownership17,720 hectares in an excellent mining jurisdiction and close to infrastructureHosts the high-grade past producing Scadding Gold MineEvidence of polymetallic mineralization at the Scadding Deposit indicative of IOCG potentialSignificant gold, cobalt-copper, silver, nickel and rare earth showings outside of the Scadding Deposit footprintHistorically, 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.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 For more information, please contact:Quentin Yarie, President & CEO, (416) 364-4986, email@example.comOr Mia Boiridy, Investor Relations, (416) 364-4986, firstname.lastname@example.orgNeither 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.