TORONTO, May 25, 2022 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSX-V: BMK, OTC: MCDMF) (“MacDonald Mines” or the “Company”) is pleased to provide an update on the Phase 1 drill program undertaken at the Alwyn Mine Copper-Gold (Cu-Au) Trend and the Glade Gold (Au) Trend on its 100% owned SPJ Property in Sudbury, Ontario.
Highlights of Phase 1 Alwyn Mine Drill Program
- Phase 1 drilling observations in conjunction with GoldSpot Discoveries’ (“GoldSpot”) interpreted 2.5km Alwyn trend are very encouraging and demonstrate the potential, subject to pending assay results, to further expand the Copper-Gold (Cu-Au) mineralization system associated with the Alwyn Mine
- Intersection, in four of the five holes completed in the Alwyn Mine area, of broad intervals (30-116m – core length) containing up to 2% chalcopyrite, traces of bornite and variable pyrite
- Sulfide mineralization associated with multi-directional networks of quartz-carbonate to carbonate veins representing an average of 5-10% of the mineralized zones
- Potential Copper-Gold mineralization confirmed over a strike length of 115m and remains open in all directions
- Strongest quartz veining, alteration and mineralization intersected east of the Alwyn Mine where a high-priority target of GoldSpot further extends south for 1.5 km
Greg Romain, President & CEO, commented; “The favorable observations at Alwyn to date is very encouraging and further supports the work recently completed by GoldSpot. With the core now being delivered to the assay lab, we look forward to reporting the assay results from Alwyn when they become available and reporting on the drilling at Glade.” Mr. Romain added; “We look forward to meeting with investors at the upcoming PDAC in June and I encourage everyone to stop by our booth to meet the team and learn more about the exciting developments.”
Phase 1 Drill Program
The Company recently completed drilling at Alwyn Mine and Glade as part of MacDonald Mines Phase 1 2022 exploration program. The drill program consisted of 665m of oriented diamond drilling at the northern end of the 1.5 km-long high-priority target identified by GoldSpot in the Alwyn Copper-Gold (Cu-Au) Trend, as well as 503m of oriented diamond drilling along the Glade Gold (Au) Trend (Figure 1 & Table 1).
Figure 1: GoldSpot generated targets at the SPJ Property.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a449757-f495-4650-ad56-4189c303dd09
|Official Name||Collar location||Hole Attributes|
|Easting (m)||Northing (m)||Elevation (m)||Final Depth (m)||Azimuth||Dip|
|Alwyn Mine Copper-Gold (Cu-Au) Trend|
|Glade Gold (Au) Trend|
Table 1: Collar details for Phase 1 drilling at Alwyn Mine and Glade. Note that these are the planned collar coordinates, which will be updated with final coordinates during post drilling surveying.
The 2021 trenching/mapping program at Alwyn Mine confirmed the presence of two significant shear zones and a dense network of Copper-Gold (Cu-Au) bearing quartz-carbonate veins at surface. Historical drilling at Alwyn intercepted the same system, including 16.59 g/t Au over 1.52m and 4.46 g/t Au over 3.81m (Haultain Resources, 1983, AFRI 41I10NE0154). Copper and silver assays were not reported during that historic drilling program. The reader is cautioned that the assay data is historical in nature, and the qualified person has not independently validated the accuracy of the historical results. The true width of the intersected zone of mineralization is unknown.
Phase 1 of drilling in the Alwyn Mine Copper-Gold (Cu-Au) Trend consisted of five oriented diamond drill holes, totalling 665m. Variably dense and multi-directional networks of quartz-carbonate to carbonate veins, comparable to the networks of veins associated with Copper-Gold (Cu-Au) mineralization at surface, were intersected in four out of the five drill holes. Iron oxide alteration occurring as sporadic specular to earthy hematite veinlets was also observed in conjunction with certain zones of chalcopyrite mineralization and more broadly in the Alwyn area. Observations made in these holes demonstrated the potential for the Alwyn Mine Copper-Gold (Cu-Au) trend to extend southeast of its currently known footprint, as it was predicted by GoldSpot (see news release May 3rd, 2022). MacDonald’s drilling also confirmed veining and mineralization over a 115m strike length and that mineralization remains open in all directions (Figure 2).
The strongest zone of quartz-carbonate veining associated with chalcopyrite and pyrite mineralization was intersected in hole AW-22-102 that was drilled in a previously untested area east of the historical Alwyn Mine. Quartz-carbonate, carbonate and hematite-carbonate veining variably mineralized with chalcopyrite and pyrite persisted over 100m in the drill hole, including a 3m quartz-carbonate vein (true width currently unknown) with 2-3% fracture filling chalcopyrite and up to 3-5% very fine-grained clusters/fracture filling chalcopyrite-pyrite. The location of AW-22-102 suggests that the Copper-Gold (Cu-Au) vein system remains prospective to the south where GoldSpot’s high-priority target extends for 1.5 km.
Figure 2: Phase 1 drilling by MacDonald Mines along the Alwyn Mine Copper-Gold (Cu-Au) trend.
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87577212-9841-41ea-8c63-eb5dd8094fae
In the other drill holes, mineralized zones consisted of 5-10% veins spanning broad intervals up to 116m, crosscut by occasional, narrow (<10m) Nipissing diabase dykes. Approximately 30% of veins carry mineralization, consisting of chalcopyrite + pyrite up to 5%, but typically containing 0.5-2% total sulphides. Specular hematite is commonly found in fractures within mineralized veins and halos around sulphides in veins. Additional potassic and sodic alteration halos were common near stronger mineralization.
The initial findings of this drill program (pending assays) in conjunction with GoldSpot’s interpreted 2.5km long Alwyn trend, including a 1.5 km-long high-priority target shown to be associated with Copper-Gold (Cu-Au) mineralization, are very encouraging for future exploration programs in the Alwyn Mine Copper-Gold (Cu-Au) Trend.
Glade Gold Target
Phase 1 continued with 503m of new drilling at the Glade Gold (Au) trend to follow up on the successful drilling and trench work completed in 2021 (see news releases dated May 13th, June 15th, and July 6th, 2021). Mineralization appears to follow the upper and lower contacts of a Nipissing sill with Huronian sedimentary rocks, potentially spanning a 3km east-southeasterly trend, as indicated by GoldSpot’s targeting results. The goal of this program was to target high grade Au mineralization down plunge from Au-bearing quartz veins hosted in the Nipissing diabase that were identified on surface and in our previous drilling campaign. Logging of the vein network at Glade is currently underway.
About MacDonald Mines Exploration Ltd.
MacDonald Mines is a Canadian Gold and base metal exploration company focused on exploring its 100%-owned, 19,720ha (197km2) SPJ Project, 20km southeast of the prolific Sudbury Mining Camp in Northern Ontario. The Company’s focus is to locate what it theorizes to be large gold systems with high-grade gold surrounding the past producing Scadding gold Mine and potential large gold structures surrounding Alwyn, Glade, MacLeod and Norstar. The Company is also focusing on key battery metal systems surrounding Candore and Jerome within the SPJ Project to supply the renewable energy transition, particularly nickel, copper, and PGE’s. The demand and need for critical battery metals is at an all-time high, and MacDonald Mines feels the SPJ Property Area has the potential to be part of the solution.
Jean-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.
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.
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To learn more about MacDonald Mines, please visit www.macdonaldmines.com
For more information, please contact:
|Greg Romain, President & CEO||Frank Gagnon, Investor Relations|
|Phone: +1 (416)364-7024||Phone: +1 (705)288-5300|
|Email: email@example.com||Email: firstname.lastname@example.org|