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ML Gold Corp.
Summary
| Project: | Palmetto | |
|---|---|---|
| Deposit: | Palmetto | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 5/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-5-2017: ML Gold Corp. announces an Exploration/Drilling Update report for its Palmetto deposit at the Palmetto project. Drilling results incl. 27.4m @ 1.10g/t Au, 1.63g/t Ag from 195.1m. 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”) is pleased to provide an update on the Palmetto Gold Project in Esmeralda County, Nevada, within the Walker Lane mineral belt, where one core and one reverse circulation (RC) drill are operating to produce a maiden gold resource being conducted by engineering firm WSP Canada Inc. To date, RC holes 1 through 4 have been processed and sent to ALS Minerals lab in Reno, Nevada for assaying. These holes are a combination of exploratory step-out and infill holes aimed to grow the resource estimate being completed following the drill program. ML Gold has received assay results for the first complete RC hole (PAL-17R01). This intersection in PAL-17R01 targeted an area down dip from the Discovery Zone’s 3D computer generated mineralized shell, and did not twin any previously known intersections. This intersection, which includes 90 feet of greater that one gram material, extends the mineralization from within 40 metres (m) of bedrock surface to now at least 220 metres total depth. This hole confirms the mineralization is open to depth and will allow the 3D computer model to expand the volume of mineralized rock resulting in additional ounces in the resource estimate moving forward. At present, the RC drill is on its 8th hole, an unplanned location in the Northwest Zone, not part of the original planned program, but added to test beneath an approximately 10 foot intercept of quartz veining with noted visible gold in the 7th RC hole. The intersection in hole 7 represents the first reported visible gold in the Northwest Zone, approximately 500 metres northwest of the Discovery Zone. | |
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