MacDonald Mines Re-assays High-Grade Gold Intersection at the Scadding Mine – Second Lab Reporting 464.4 g/t vs 376.6 g/t Gold over 2.96 Metres
TORONTO, March 26, 2020 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that the high-grade gold results for hole SM-20-026, announced on February 27, 2020, were confirmed by analyses at a second laboratory. New results reported 464.4 g/t gold over 2.96 metres including 26.3 g/t gold over 1.07 metres, 274 g/t gold over 0.93 metres and 1,137 g/t gold over 0.96 metres. The previous assays reported 376.6 g/t gold over the 2.96 metres (Table 1).
The re-analysis of hole SM-20-026 was undertaken to confirm the extremely high-grade results that were obtained 18 metres downdip from the high-grade intersection of 52 g/t gold over 12 metres in SM-19-001 (see September 27, 2019 News Release). Results to date indicate that the high-grade gold zone in the Bristol/Monaco Structure could extend over 100 metres downdip following the preliminary observation of visible gold (VG) in holes SM-20-031 and SM-20-034 (Figure 1). Assay results from the pending drill holes will be announced as they are received.Table 1. Assay results from 3 high-grade gold intersections in hole SM-20-026.* Assays results presented over core length. They are estimated to represent 75-85% of true width.Table 2. Drill hole location
Figure 1. Cross-section showing high-grade gold intersections in the Bristol/Monaco Structurehttps://www.globenewswire.com/NewsRoom/AttachmentNg/bfbed014-5693-48d5-8789-4b59e6b6b170Hole SM-20-026 successfully intersected the extension of the high-grade mineralization in the Bristol/Monaco Structure, 18 metres downdip of the high-grade intersection of 52 g/t gold over 12 metres in SM-19-001. Comparable to SM-19-001, the chlorite zone in SM-20-026 is comprised of strong chlorite alteration with low sulfide content and is cut by numerous dark-grey quartz stringers and one larger quartz vein rich in pyrrhotite. Tiny specks of visible gold were also observed in millimetre-sized quartz lenses disseminated in the chlorite zone of SM-20-026. MacDonald believes that these quartz stringers, sometimes rich in very coarse-gold, contributed to the formation of exceptionally high-grade gold mineralization in the chlorite zones of the Scadding Deposit.Evaluation of Assay Protocols
Our recent resubmission of samples for both holes SM-19-022 and SM-20-026 suggests that some assay results are understating actual values. To address this, we are re-submitting assays for metallic screens where visible gold has been noted in the geologic logs. Going forward we will adopt this protocol. On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were initially sent to Bureau Veritas in Timmins, Ontario following the Company’s QA/QC protocol: individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and shipped. The remaining coarse reject portions of samples remain in storage if further work or verification is needed. In this instance, the coarse rejects of the three high-grade gold samples from hole SM-20-026 were sent to SGS Burnaby for confirmation.MacDonald’s quality-control program complies 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. Both the Bureau Veritas and SGS analytical results followed this protocol.SPJ Property highlights100% ownership18,860 hectares in 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 (2009-2011).Figure 2. Macdonald Mines’ SPJ Propertyhttps://www.globenewswire.com/NewsRoom/AttachmentNg/15f82847-309a-464d-ac7b-31e6e7d5168cQualified 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, firstname.lastname@example.orgOr Mia Boiridy, Investor Relations, (416) 364-4986, email@example.comNeither 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.