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MacDonald Mines Exploration Ltd.
Summary
| Project: | Holdsworth | |
|---|---|---|
| Deposit: | Holdsworth | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 12/5/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-12-2017: MacDonald Mines Exploration Ltd. announces an Exploration/Drilling Update report for its Holdsworth deposit at the Holdsworth project. Drilling results incl. 3.23m @ 7.46g/t Au, 36.2g/t Ag from 0m. TORONTO, Dec. 05, 2017 -- MacDonald Mines Expl | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Quentin Dale Yarie (Internal) | |
| ABSTRACT: | TORONTO, Dec. 05, 2017 -- MacDonald Mines Exploration Ltd. (TSX-V:BMK) ("MacDonald Mines", the "Company", or “BMK”) announces that it has received gold and silver assays for 59 of 401 sonic boreholes completed in the Oxide Sands trend of its Wawa-Holdsworth Project. Of the 59 holes received to date, twenty-four had composite gold values greater than 1g/t over 1 metre. Quentin Yarie, President and Chief Executive Officer of MacDonald Mines stated, "These first results from the sonic drilling have exceeded our expectations. Our trenching program helped us define the lateral extents of the Oxide Sands formation, but only sampled the surface materials. These results suggest that the precious metal materials are below 1/2 metre of surface and that there are likely high-grade gold and silver zones.” Sonic drilling systematically tested all the trenches where precious metal-rich Oxide Sands were previously identified in order to establish the lateral and strike length continuity of the formation. The initial drilling results indicate excellent grade continuity of the Oxide Sands formation over a strike length of 200 m and a lateral extension varying between 3 and 15 m. With gold equivalent grade up to 17.2 g/t over 0.85 m, drilling results also indicate the potential of the Oxide Sands formation to contain high-grade zones rich in gold and silver. The Company is currently awaiting assay results for the remaining 342 holes drilled during its 2,000 m sonic drilling campaign. Once results are made available, the Company will initiate a NI43-101 inferred resource estimation for the Oxide Sands. | |
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