MacDonald Mines Commences Sonic Drill Program of Oxide Sands at its Wawa-Holdsworth Gold Project
September 20 2017 - 5:00AM
MacDonald Mines Exploration Ltd. (TSX-V:BMK) ("MacDonald Mines",
the "Company", or “BMK”) announces that it has initiated an
approximate 2000 metres sonic drilling program of the Oxide Sands
at its Wawa-Holdsworth Gold Project.
Quentin Yarie, President and Chief Executive
Officer of MacDonald Mines stated, "Our exploration program to date
has shown that the precious metal content and extent of the Oxide
Sands is larger than historically identified. Our on-going
trenching program is defining the lateral extent of the Sand. This
drilling campaign will enable us to assess the vertical
distribution of the precious metals within the Sands as we continue
to work towards developing a resource.”
Sonic drilling, as opposed to conventional diamond drilling, has
been optimized for unconsolidated material such as the Oxide Sands.
Sonic drilling uses high-frequency mechanical vibration to
penetrate the unconsolidated material and recover core samples that
are more comprehensive than what is usually possible with this type
of material.
Wawa-Holdsworth Project
OverviewNeighbouring Richmont's Island Gold Mine,
Argonaut's Magino Gold Project and Goldcorp’s Borden project, the
1142 acres Wawa-Holdsworth Gold Project is located 20km northeast
of Wawa, Ontario. The land package has all the attributes to host a
large gold system with numerous gold showings occurring in a
500m-wide deformation corridor. Historic work by previous operators
defined three gold targets on the Wawa-Holdsworth Project: 1)
Greenstone-hosted quartz-carbonate vein deposits (Soocana Vein
System and Reed-Booth Showing); 2) BIF-hosted gold deposits
(gold-bearing pyrite zones in an Algoma-type iron formation); and
3) Gold-bearing Oxide Sands developed from the weathering of the
auriferous Pyrite Zones.
MacDonald is focusing its near-term exploration
program on the Oxide Sands. The soft and relatively unconsolidated
material can be extracted like an aggregate and the Company is
evaluating its potential extraction.
A recent EM Max-Min survey confirmed that the sands extend at
least 1.8km along strike and reach depths beyond 8m. MacDonald’s
current trenching and sampling program returned up to 6.45 g/t gold
(TR775-0), up to 52.7g/t silver (TR750-6) and is also expanding the
lateral extents of the “black sands” with the discovery of new
precious metals (gold and silver) horizons within the soil profile.
This indicates that the gold and silver inventory of the Oxide
Sands at the Wawa-Holdsworth Project may be larger than initially
anticipated.
Preliminary metallurgical test work showed that
conventional flotation techniques can be used to concentrate the
precious metals in the sands. In the next month, a sonic drill will
be mobilized to assess the vertical distribution of the gold and
silver within the sands with the ultimate goal of developing a
resource.
Qualified PersonQuentin 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 has built a portfolio
of safe-jurisdiction, infrastructure-rich projects that demonstrate
the greatest market potential for return. The Company is
aggressively advancing its highly prospective Wawa-Holdsworth
Project.
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, qyarie@macdonaldmines.com
Or Mia Boiridy, Investor Relations, (416)
364-4986, mboiridy@macdonaldmines.com
Cautionary Statement:
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.
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
the Company. Forward-looking statements, specifically those
concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially from the
Company’s plans and expectations. These plans, expectations, risks
and uncertainties are detailed herein and from time to time in the
filings made by the Company with the TSX Venture Exchange and
securities regulators. MacDonald Mines does not assume any
obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
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