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ML Gold Corp.
Summary
| Project: | Palmetto | |
|---|---|---|
| Deposit: | Palmetto | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 6/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-6-2017: ML Gold Corp. announces an Exploration/Drilling Update report for its Palmetto deposit at the Palmetto project. Drilling results incl. 103.2m @ 0.4g/t Au, 5.98g/t Ag from 76.5m. ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Adrian Smith (Internal) | |
| ABSTRACT: | ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) reports results from eight initial holes of its phase I drill program at the Palmetto Gold Project in Nevada, where a first ever gold resource is being calculated. The initial 8 holes are part of a 15 hole program delineating mineralization in two main zones, the Discovery Zone and the Northwest Zone. All drill holes encountered gold mineralization and most were successful in establishing new zones of mineralization and extending known zones well beyond historically identified limits. Mineralization remains open along strike, west and east, and at depth. In addition, there is a strong potential for discovery of additional mineralized zones, en echelon, which fall within the same property wide North-West trending structural corridor (the “Palmetto Gold Trend”). Drilling in the Northwest Zone followed up on 4 tightly clustered historical holes which were identified to be in a wide-open area with high potential. Initial results from these holes, stepping out 60 to 100 metres each time, returned wide mineralized intercepts outlining a broad area of gold mineralization at shallow depths. Each zone within the over-riding Palmetto Gold Trend shows an east-west orientation and is made up of a combination of high grade low-sulphidation veins, breccias, and stockworks, intercalated with disseminated gold mineralization within favorable stratigraphy. Confirmation that the Northwest Zone is in fact an independent zone, open to the east, west and to depth, following the same pattern as the Discovery Zone, indicates that there is a potential to discover additional zones by tracking this emerging pattern. | |
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