McLaren Drilling Includes 4.17 Grams Gold Over 2.5 Metres at Timginn

July 05, 2013 3:30 PM EDT | Source: McLaren Resources Inc.

Toronto, Ontario--(Newsfile Corp. - July 5, 2013) - McLaren Resources Inc. (CNSX: MCL) (Frankfurt: 3ML) ("McLaren") is pleased to announce the results of the recently completed 5 hole 1,563 metres exploration drill program including 4.17 grams over 2.5 metres and 8.06 grams over 1 metre. The TimGinn Property is located adjacent to the Goldcorp owned Hollinger and McIntyre Mines which have produced over 30 million oz of Gold in Timmins to date.

Results from the drill program follow up on the positive results of McLaren's previous two drill programs announced on October 3, 2012 and February 13, 2012. October 2012 highlights included 7.41 grams over 3.2 metres, 8.21 grams over 2.5 metres and 4.45 grams over 6.5 metres and February 2012 highlights included 7.0 grams over 7.4 metres, 24.2 grams over 1.1 metres, 6.0 grams over 3.0 metres and 3.0 grams over 7.5 metres. See Figure 1 for location of highlight results from the initial three McLaren drill programs on the TimGinn property.

The recent exploration program focused on drill targets with three exploration drill holes in the area where previous production occurred on the TimGinn property during the 1920's from the Gillies Lake Mine Shaft located next to the Hollinger Mine open pit operations (Figure 2).

The company also drilled two holes to follow up on historic results located adjacent to the McIntyre Mine property. Hole 13-16 intercepted a one metre zone and hole 13-15 did not intercept any significant values.

The TimGinn property contains a 2,000 metre mineralized strike length running from northeast to southwest. Mining has occurred on three sides of the property at neighbouring mines including the Hollinger Mine and the McIntyre Mine that are situated in central Timmins and have produced gold to depths exceeding 5000 feet (1500 metres). The property has seen limited exploration at shallow depths and is virtually unexplored below 900 feet.

Drill Result Highlights:

Significant Results
Include: HOLE #

From
(m)
To
(m)
Width
(m)
Grade
(g/t)

MTG-13-19

207.0 209.5 2.5 4.17

 

103.5 104.5 1.0 8.06

MTG-13-18

329.0 332.0 3.0 0.82
     

Geotechnical Information – Gillies Lake Mine Area
Three holes were drilled to explore and confirm gold mineralized zones in the steeply dipping mafic volcanic flows containing pyrite and quartz stringers. The Hollinger Mine Pit is operating 200 metres south of the Gillies Lake Mine Area.

Key Terms of Property Option Agreement
McLaren can earn a 60 percent interest in the property from TimGinn Exploration Inc. by incurring $4 million dollars of exploration expenditure by April 30, 2016, McLaren can earn an initial 50% percent interest by incurring $2 million in exploration expenditure by April 30, 2015. See additional details of the terms in the news release dated November 8, 2011.

About The TimGinn Property
The TimGinn property consists of 9 mining claims covering 238 hectares (588 acres) in the Tisdale Township in Central Timmins. Adjacent to the Hollinger mine (19.3 million oz), and the McIntyre Mine (10.7 million oz) please see map. There was brief gold production on the property during the 1920’s by Consolidated Gilles Lake Gold Mines. A two compartment shaft was sunk on the property to a depth of 940 feet. The property is unexplored below 940 feet (300 metres) deep.

Figure 1
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Figure 2

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 Table 1 Drill Hole Summary Data for TimGinn Property

Hole # East North Elev Length Az Dip From
(m)
To
 (m)
Length
 (m)
Au
(g/t)
GxW
MTG-13-15 477044.7 5370238.7 314.0 303 126 -50 nsv
McIntyre                      
                       
MTG-13-16 477106.3 5370088.7 315.3 261.9 58 -45 55.0 56.0 1.0 0.45 0.5
McIntyre                      
                       
MTG-13-17 476434.9 5369491.2 311.1 69 180 -60 nsv
GLM                      
                       
MTG-13-18 476434.6 5369491.6 311.2 420 180 -60 21.5 23.0 1.5 0.58 0.9
GLM             329.0 332.0 3.0 0.82 2.5
              333.5 335.5 2.0 0.54 1.1
            
MTG-13-19 476432.4 5369491.6 311.3 354 213 -45 23.5 24.0 0.5 0.81 0.4
GLM             103.5 104.5 1.0 8.06 8.1
              207.0 209.5 2.5 4.17 10.4
              215.0 217.0 2.0 0.95 1.9
              221.0 222.5 1.5 0.51 0.8
                       
5 holes     1562.9 m              
            

McLaren Resources Inc. is a Canadian based junior exploration company engaged in acquiring, exploring, and developing resource properties in Canada.

Contact Information
Ivan Buzbuzian, President and CEO, McLAREN RESOURCES INC.
65 Queen Street West, Suite 500, Toronto ON, M5H 2M5
Tel.: 416-203-6784/ Fax: 416-368-1539 E-mail: ibuzbuzian@mclarenresources.com

For more information visit our web site at www.mclarenresources.com or contact Ivan Buzbuzian, President and CEO of McLaren Resources, at 416-203-6784 x 4850.

The Canadian National Stock Exchange has neither approved, nor disapproved on the contents of this press release.

Certain statements contained in this press release constitute "forward looking statements". These statements are based on current expectations of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. The Company does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

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