MacDonald Mines Withdraws Previously Announced Scadding Gold Project Assays Pending Further Review
May 24 2024 - 9:58PM
MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC:
MCDMF) (“MacDonald Mines” or the
“Company”) has discovered inconsistencies in
certain assay results from the Scadding gold prospect that were
previously publicly announced by way of press releases and which
may also have been disclosed or used in certain other disclosure
documents, such as the National Instrument 43-101 technical report
on the Scadding gold project dated October 18, 2019. Accordingly,
the company hereby withdraws all its previously announced assay
results for the Scadding gold project and advises that such results
and the disclosure that such results are based on should not be
relied upon.
The company is conducting a detailed review and comparison of
the assay results from the Scadding gold project with the company's
disclosure documents in order to identify and quantify the extent
of any incongruities.
These inconsistencies are limited to the Scadding gold project
which is not a flagship project for the company nor is there a
resource of any kind associated with it. The Glade and Alwyn
properties are unaffected.
The company will keep the market updated as further information
becomes available.
About MacDonald Mines Exploration
Ltd.
MacDonald Mines is a Canadian exploration
company focused on exploring for critical and precious metals in a
Metasomatic Iron alkali-calcic (MIAC) mineral system on its
100%-owned, 19,720 ha (197.2 km2) SPJ Project. MIAC systems are
known for hosting IOCG and affiliated deposits. The property is
located 20km southeast of the prolific Sudbury Mining Camp in
Northern Ontario. The Company’s primary exploration focus are the
polymetallic and iron-poor to possibly iron-rich Ag-Au-Cu-Co
showings and prospects along the McLaren Lake Fault System that
includes the Alwyn Cu-Au-(Ag-Co) trend and the Ashigami Co-Cu-Au
showings, and the iron-rich to iron-poor Glade Au trend recognized
to host Au mineralization comparable to the Scadding deposit. In
addition, a potential for nickel, cobalt, copper, and platinum
group elements in the Nipissing intrusions that are hosting the
Candore, Jerome and Glade showings within the SPJ Project.
ON BEHALF OF THE BOARD
“Mike England”_____________________________Mike
England, INTERIM CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:Telephone: 1-604-683-3995
TollFree: 1-888-945-4770
E-mail: mike@engcom.ca
Forward-Looking Statements
This news release may contain certain
“forward-looking statements”. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other
factors that may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Any forward-looking statement
speaks only as of the date of this news release and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise.
NEITHER THE 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.
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