InvestmentPitch Media Video Discusses MacDonald Mines' Expansion of Drill Program by Additional 7,500 Meters at SPJ Property in Northern Ontario - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 20, 2019) - MacDonald Mines Exploration Ltd. (TSXV: BMK) announces it has expanded its diamond drill program by an additional 7,500 meters at its SPJ Property in northern Ontario. The initial program was for 2,000 meters of drilling and the company reports that it has now completed 15 holes in the program. Results for 5 drill holes have been released so far with the remaining assays still pending.
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MacDonald has 100% ownership of the SPJ Property located 40 kilometers east of Sudbury, Ontario, close to infrastructure and year-round road access. The property comprises 17,720 hectares of claims including and surrounding the past producing mine at the Scadding Deposit. The Scadding Deposit produced 914 kilograms of gold from 127,000 tonnes grading 7.2 grams per tonne gold between 1984 and 1990.
Current work by MacDonald indicates that the SPJ Property could host a much larger gold-rich Iron-Oxide-Copper-Gold deposit with drilling to date supporting the hypothesis that gold mineralization in the Scadding Deposit is primarily controlled by a series of north- to north-northeast-oriented structures distributed in a west to east corridor at least 500 metres-wide.
The additional drilling program is aimed at identifying the northern and southern extensions of the north-south structures associated with the high-grade gold at the Scadding deposit as well as exploring the newly identified structures east and west of the Scadding Deposit.
Quentin Yarie, President and CEO, commented: "Based on the positive results to date, MacDonald's objective is to continue to expand the footprint and the extent of the high-grade gold mineralization around the Scadding Mine deposit and further explore regional targets well beyond the mine area where current and historic prospecting exhibit significant gold, copper, cobalt, nickel showings that may be indicative of a much larger, gold-rich Iron-Oxide-Copper-Gold system at work in the region."
The large SPJ Property hosts several compelling exploration targets beyond the Scadding Deposit including the Alwyn Mine area with significant gold and copper mineralization in historic drilling, the Ashigami Pits where gold and copper were historically mined, and the Silver, Gold, Cobalt, Copper and Nickel showings at the Jovan Property.
For more information, please visit the company's website www.macdonaldmines.com, contact Quentin Yarie, President & CEO at 416-364-4986, or email firstname.lastname@example.org. For Investor Relations, contact Mia Boiridy, at 416-364-4986, or email email@example.com.
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