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ML Gold Corp.
Summary
| Project: | Palmetto | |
|---|---|---|
| Deposit: | Palmetto | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 6/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-6-2017: ML Gold Corp. announces an Exploration/Drilling Update report for its Palmetto deposit at the Palmetto project. Drilling results incl. 30.5m @ 0.7g/t Au, 5.21g/t Ag from 111.3m. 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 an additional 4 holes of the phase I drill program at its wholly owned Palmetto Gold Project in Nevada, where a first ever gold resource is being calculated. Drilling by ML Gold has seen a high success ratio with almost all holes encountering significant mineralization, resulting in the extension of known zones well beyond historically identified limits. Mineralization in the Northwest and Discovery Zones remains open along strike, west and east, and at depth. Additional drilling in the Discovery Zone ended in high grade gold mineralization with drill hole PAL-17R13 ending in 6.1 metres of 1.82 gpt at 237 metres (end of hole or “EOH”) below surface, leaving the zone open to depth. This highlights the depth potential and need for the phase II drilling program to further test the depth extent of mineralization. Drilling also confirms consistent gold mineralization surrounding the intense breccia and stock work zones that form the higher grade core(s) of mineralization. Past metallurgical studies conducted by previous operators on the Discovery Zone show that the material is amenable to heap leaching. Further metallurgical studies will be carried out as part of the phase II drilling program following the completion of the maiden resource estimate and 43-101 technical report on the Palmetto Gold Project. Based on the highly successful phase I drilling program, ML Gold anticipates a phase II program to expand the existing zones and locate additional zones. Phase II will focus on areas north and northwest of the Discovery and Northwest zones along the Palmetto Gold Trend. As this trend is primarily under cover, the Northwest Zone was interpreted and discovered through structural analysis and detailed structural mapping. Similarly, new zones have been identified within the trend and warrant drilling in the phase II program. | |
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