MacDonald Mines Makes New VMS Discovery in the Ring of Fire
August 16 2012 - 7:00AM
Marketwired Canada
MacDonald Mines Exploration Inc. (TSX VENTURE:BMK) ("BMK") is pleased to
announce results from the most recent drill program on the Butler 3 target on
its Butler property located just 36 kilometres west of the Big Daddy Chromite
deposit. (Link to location map).
HIGHLIGHTS
-- Hole BP12-Cu14 intersected 41.5m of 0.4 Cu, 3.26% Zn and 6g/t Ag
-- Including:
-- 12.5m of 8.54% Zn and 6.24 g/t Ag
-- 5.0m of 1.18% Cu, 3.86% Zn and 14.48 g/t Ag
-- Hole BP12-Cu16 intersected 14.0m of 0.56% Cu, 1.83% Zn and 11.31 g/t Ag
(More complete intersections provided below)
Quentin Yarie, BMK's Senior VP Exploration states: "The drilling results and the
follow-up borehole pulse electromagnetic surveys at Butler support our
interpretation that this is a highly mineralized area. The mineralization is
especially encouraging as it is typical for past and present producing Canadian
districts(1)."
Executive Summary
-- The last drill program hit zinc-rich massive sulphide mineralization
with tenors typical of past and current producing VMS mines - the zinc
rich sulphides are generally found on the periphery of these types of
deposits
-- VMS systems typically get more copper-rich the closer one gets to the
centre of extrusion
-- VMS mineralization identified on the Property suggests there are
multiple centres of extrusion, and therefore the potential for multiple
VMS deposits (i.e. a VMS camp)
-- Geophysics indicates there is ample room for deposits in excess of 20 MT
-- Company geoscientists believe the constraining geologic markers bounding
VMS mineralization have been identified on the Property, and that future
exploration should be able to vector into more copper-rich
mineralization
A more detailed technical explanation follows.
Geologic Setting
BMK's Butler property is potentially a new VMS district, with at least four
zinc-copper volcanogenic massive sulphide (VMS) 'centres' of mineralization
(Butler 1 through 4). These centres are spaced about 2-4 km apart, a typical
distribution for deposits in most productive camps such as Matagami Lake,
Sturgeon Lake and Noranda. With VMS deposits typically occurring in clusters the
Company is confident that additional massive sulphide intersections of interest
will be found around Butler 3. Click here to see a map of the Butler VMS Zones.
Each occurrence consists of an underlying copper-rich stringer zone that is
separated by a approx. 20m massive black felsic "marker" flow from several
overlying horizons of zinc-silver-copper massive sulphide. The footwall rocks
are all intensely altered, characterized by widespread sodium (Na) depletion and
more localized manganese (Mn) enrichment (typical of VMS camps like Sturgeon
Lake).
Butler 3 VMS
Butler 3, our most recent exploration target, is located in about the middle of
the 15km - long principal stratigraphic horizon that controls all of the VMS
centers thus far identified. Having now defined this stratigraphic control, we
are able to much better target the potential resources. BMK's team has
delineated a new zone of Zn-Cu-Au-Ag-Co-Cd stratiform sulfides that extends for
at least 200m N-S and consists of several stacked lenses, including an
intersection greater than 40m in width (does not represent true width). The last
drill program discovered this area and highlights of the assay results are
summarized as follows:
----------------------------------------------------------------------------
Intersection
BH ID From: To (m) (m) Ag (g/t) Cd (g/t) Co (g/t) Cu (%) Zn (%)
----------------------------------------------------------------------------
BP12-Cu14 83-92 9 3 6 24 0.13 0.875
----------------------------------------------------------------------------
BP12-Cu14 138.5-180 41.5 6 52 172 0.41 3.26
----------------------------------------------------------------------------
including 147.5-168 19.50 9 106 239 0.57 6.51
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BP12-Cu12 140.8-163.3 23.5 3 13 106 0.35 0.57
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BP12-Cu16 54-79 25 8 27 136 0.43 1.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BP12-Cu18 213-245 32 3 5 168 0.39 0.20
----------------------------------------------------------------------------
including 219-233 14 3 7 142 0.49 0.32
----------------------------------------------------------------------------
----------------------------------------------------------------------------
------------------------------------------------------
Cu Equivalent
BH ID From: To (m)Intersection(m) (%)(i)
------------------------------------------------------
BP12-Cu14 138.5-180 41.5 1.46
------------------------------------------------------
including 147.5-168 19.50 2.57
------------------------------------------------------
------------------------------------------------------
BP12-Cu16 54-79 25 1.01
------------------------------------------------------
(i)Based on current metal values 8/12/2012
A completed list of assays will be available on the company website once final
results are received from the lab.
All intersections occur in an intensely sericitized, locally siderite-bearing
and silicified assemblage of felsic strata. As yet, we have not penetrated the
eastern side of the alteration package; indicative of excellent potential of
continued mineralized zones to the east. These bodies are also open along
strike. The Zn-rich sequence of lenses is underlain by the black felsic flow,
and under that an extensive Cu-stringer zone in
anthophyllite-cordierite-chlorite altered strata. Copper also occurs in the core
parts of the overlying zinc zone, and its abundance indicates good potential for
additional copper resources along strike and possibly and deeper.
In VMS systems, copper is found in close proximity to the exhalative
volcanogenic centre. The low Cu:Zn ratios encountered at Butler 3 indicate that
drilling has not intersected mineralization proximal to its exhalative source.
As such, Company geoscientists believe that higher tenor copper mineralization
can be intersected through future drill targeting. To see a cross-section of
mineralized zones, click here.
Butler 1, 2 & 4
This newly emerging camp has compositional and alteration characteristics that
are quite similar to the Sturgeon Lake (and Hackett River) camps. It is
felsic-dominant, has well defined stratigraphic control and is characterized by
Mn-enriched carbonate-sericite-biotite-garnet-anthophyllite-quartz alteration
and extensive Na depletion in the footwall. The well-zoned Butler 3 horizon is
open in four directions. Butler 4 (to the south) has similar characteristics as
identified by Dr. James Franklin, but drilling there is at a very early stage.
Butler1 and 2 may be two parts of another separate mineralization centre, and
their depth and stratigraphic extents remain undefined. The Butler 1, 2 and 4
occurrences all share the same stratigraphic assemblage as Butler 3, another
characteristic of most of the productive camps in the Canadian Shield.
Geophysical Model
The current geophysical data set includes:
-- Airborne, Surface and Borehole Time Domain EM
-- Airborne and Ground Magnetics
-- Surface and Airborne Gravity
-- IP and Complex Resistivity
A model of this data constrained by the current mineralized intersections,
geochemistry and geology indicates the potential of the Butler Property to host
not only VMS occurrences of size but also multiple centres. Plan maps of this
compilation for Butler 2 and 3 can be viewed on the company website.
Continuing Exploration
Before the current drill program, exploration was focussed on the footwall
sections (west of the results presented here), but with the new stratigraphic
definition the potential for additional resource along strike, east and at depth
are good. Dr. James Franklin states that "The combination of:
-- tight stratigraphic control,
-- definitive alteration vectors that help identify the core zones of
hydrothermal discharge,
-- and good geophysical response by the sulfide zones
will enable the BMK team to define additional resources in future drill programs."
The Company is currently compiling and analyzing data to vector towards optimum
VMS mineralization to define future drilling. Additionally, the Company is
analyzing nickel and vanadium data collected on the Butler Property, and expects
to have an update regarding these commodities in the very near future.
Qualified Person
Quentin Yarie, P.Geo., is the qualified person in regard to the technical data
contained within this news release and will be responsible for overseeing all
aspects of the Company's exploration programs.
About MacDonald Mines Exploration Ltd.
MacDonald Mines is a mineral exploration company with an established exploration
history in the Canadian Northlands. MacDonald Mines has set upon a strategic
direction of exploration with particular focus on nickel, chrome, copper, zinc,
vanadium and titanium in the "Ring of Fire" area of the James Bay Lowlands of
Northern Ontario.
More information about the Company is available at www.macdonaldmines.com.
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. The foregoing
information may contain forward-looking statements relating to the future
performance of MacDonald Mines Exploration Ltd. Forward-looking statements,
specifically those concerning future performance, are subject to certain risks
and uncertainties, and actual results may differ materially from MacDonald's
plans and expectations. These plans, expectations, risks and uncertainties are
detailed herein and from time to time in the filings made by MacDonald with the
TSX Venture Exchange and securities regulators. MacDonald does not assume any
obligation to update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise. We seek safe harbour.
(1)Galley, A.G, Hannington, M.D. and Jonasson, I.R., 2007, Volcanogenic Massive
Sulphide Deposits.
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