MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF)
(“MacDonald Mines” or the “Company”) announces results from 3
channel samples taken at the Glade East Showing as part of its
ongoing mechanized stripping and channel sampling program at its
100% owned SPJ Project, 30 km east of Sudbury, Ontario. Channel
AGT-21-002B returned 7.19 g/t gold over 4.0 m, including 12.4 g/t
gold over 1.0 m. Gold mineralization at Glade East appears to be
associated with a quartz vein system similar to the one discovered
in holes AG-21-096 and AG-21-097 (see May 13, 2021 News Release),
located 225 m away (Figure 1). Diamond drilling is expected to
begin in the coming month at Glade and along the 2.3 km Alkin-Glade
trend.
Mia Boiridy, President and CEO, comments,
“Following the successful initial winter 2021 drilling at Glade, we
immediately started mechanized stripping to uncover historical
trenches and outcrops in the area. The 9 trenches uncovered are now
being systematically mapped and sampled. Today’s results show a
potential extension, 225 m to the east, of the quartz veining
system that was discovered at Glade West. Our ongoing surface
exploration work at Glade is helping us identify drilling targets
for our upcoming summer drilling program and is designed to test
these gold-bearing structures at depth. Following drilling at
Glade, we plan to begin drilling at and around the historical Alkin
Mine and continue along the 2.3 km Alkin-Glade trend.”
Channel AGT-21-002B sampled the core of a
network of quartz veins with localized visible gold (Figure 2 and
Image 1). Channel sampling and mapping will continue in the coming
weeks to define the geometry and grade of the gold-bearing quartz
veins and shear systems at Glade in preparation for the upcoming
drilling program. Ground exploration will also focus on identifying
new targets along the 2.3 km Alkin-Glade trend.
Figure 1. Location of reported channel
samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/1bdf18b1-7e30-44d7-b432-2bbb8551b3a8
Figure 2. Plan map of reported
results
https://www.globenewswire.com/NewsRoom/AttachmentNg/143ff03d-d057-45c8-b033-fddfecdece71
Image 1. Sample from AGT-21-002B showing visible gold in
quartz vein
https://www.globenewswire.com/NewsRoom/AttachmentNg/72bfac0a-4c81-4e7f-9cac-29e98dfa0d1b
Table 1. Reported channel sampling assay
results
Channel Sample |
From (m) |
To (m) |
Length* (m) |
Gold (g/t) |
Structure |
AGT-21-002A |
0.00 |
1.40 |
1.40 |
5.03 |
Alkin-GladeTrend |
AGT-21-002B |
0.00 |
4.00 |
4.00 |
7.19 |
Including |
0.00 |
1.00 |
1.00 |
12.40 |
3.10 |
4.00 |
0.90 |
9.36 |
AGT-21-002C |
2.40 |
3.60 |
1.20 |
2.78 |
*Assay results are presented over the apparent
length of the channel samples. Additional work is necessary to
define the true width of the zone of mineralization.
Table 2. Coordinates of reported channel
samples
ID |
X |
Y |
Z |
Azimuth |
Length (m) |
AGT-21-002A |
529327 |
5165506 |
305.0 |
320 |
3.80 |
AGT-21-002B |
529324 |
5165502 |
305.0 |
316 |
4.00 |
AGT-21-002C |
529322 |
5165498 |
302.9 |
335 |
3.60 |
Alkin-Glade
The Alkin-Glade trend is located at the contact
between a Nipissing intrusion and sedimentary rocks. The structure
hosts two significant zones of mineralization - the historic Alkin
Mine and the Glade showings. In the Glade area, Ontario Geological
Survey maps and historical exploration identified a broad zone of
disruption, alteration, deformation and mineralization that extends
over a strike length of 300 m. High-grade gold in quartz veins were
reported historically.
The historical Alkin gold mine is located 2.3 km
W-NW of the Glade showings. At the Alkin Mine, gold mineralization
occurs as a network of quartz veins hosted in the felsic phase of
the Nipissing Diabase intrusion that also hosts the Glade showings.
Reconnaissance work by the Ontario Geological Survey reported gold
assays up to 38.8 g/t gold in grab samples taken from the veins
exposed at the Alkin Mine (OFR 5771). The reader is cautioned that
grab samples are selective by nature and do not represent the
actual grade of the targeted mineralization. In addition, the
reader is cautioned that the qualified person has not done enough
work to validate the accuracy of the historical results.
MacDonald Mines’ diamond drilling under the
Glade West Showing in holes AG-21-096 and AG-21-097 revealed a
large alteration and mineralization system where shear-hosted
quartz veins are surrounded by networks of gold mineralized,
multidirectional and variably spaced quartz tension veins
concentrated in the Nipissing intrusion at its northern contact
with the Bruce conglomerate. Diamond drilling also identified that
mineralization extends in the Espanola limestone along the southern
contact of the Nipissing diabase hosting the networks of
gold-bearing shear zones and quartz veins. Visible gold was
observed in many quartz veins in both holes AG-21-096 and AG-21-097
and in the channel samples taken at Glade East. Surface work at the
Glade East showing confirmed comparable mineralization 225 m east
of the Glade West discovery.
In some quartz veins, visible gold is associated
with iron-rich chlorite alteration emplaced and crosscutting the
quartz veins. This association between gold and iron-rich chlorite
observed at the Glade West Showing is similar to the association
between iron-chlorite and gold at the Scadding Deposit. The
potential relationship between the mineralization observed at Glade
and the Scadding Deposit, located 800 m north, could represent a
considerable extension to that mineralized system.
Upcoming WebinarMacDonald Mines
is providing an opportunity for shareholders and other interested
parties to participate in a webinar on Thursday, June 10, 2021, at
4:00 pm EDT. Click on the following link
https://zoom.us/webinar/register/WN_cMTqjqvyQoqhkWgM855_nw to
register. After registering, you will receive a confirmation email
containing information about joining the webinar.
Qualified
PersonJean-François Montreuil, P.Geo., Chief
Geologist of MacDonald Mines, is the qualified person as defined by
National Instrument 43-101 Standards of Disclosure for Mineral
Projects, responsible for preparing, supervising, and approving
this news release’s scientific and technical content.
On-site Quality Assurance/Quality Control (“QA/QC”)
MeasuresChannel samples were transported in security
sealed bags for analyses to Actlabs in Ancaster, Ontario.
Individual samples are labelled, placed in plastic sample bags and
sealed. Groups of samples are then placed into durable rice bags
and then shipped. The samples transported to Actlabs were dropped
in rice bags with security seals by Manitoulin Transport. 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 sampling and analyzing
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 with visible gold are analyzed
using a 1 kg metallic screen.
COVID-19 PrecautionsMacDonald
Mines has developed and implemented precautions and procedures that
are compliant with Ontario’s health guidelines. Strict protocols
are in place to ensure the safety of all staff, thereby reducing
the potential for community contact and spreading of the virus.
About MacDonald Mines Exploration
Ltd.MacDonald Mines Exploration Ltd. is a mineral
exploration company headquartered in Toronto, Ontario, that trades
on the TSX Venture Exchange under the symbol “BMK”.
The Company is focused on developing its
100%-owned SPJ Project in Northern Ontario. Following up on its
successful 2019/20 exploration and drilling campaigns, MacDonald
Mines is focused on what it theorizes to be a large gold system at
work on the 18,930 ha property with high-grade gold surrounding the
past-producing Scadding Gold Mine and gold/polymetallic
mineralization over several kilometres around it.
To learn more about MacDonald Mines, please
visit www.macdonaldmines.com
For more information, please contact:
Mia Boiridy, President & CEO, (250)
575-3305, mboiridy@macdonaldmines.com
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.
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