InvestmentPitch Media Video Discusses MacDonald Mines' 2 New Discoveries including 12.1 gpt Gold over 7.8 meters and 5.47 gpt Gold over 4.5 meters - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2020) - MacDonald Mines Exploration Ltd. (TSXV: BMK) announced two more gold discoveries at the Scadding Deposit on its SPJ Property in northern Ontario with an additional 9 holes from the 2019 program reported today. The results were highlighted by 12.1 grams per tonne gold over 7.8 meters on one discovery and 5.47 grams per tonne over 4.5 meters at the other. The company reports that their 2020 drill program is already underway and that the final 3 holes from 2019 are still pending and will be announced as soon as they are received.
MacDonald's SPJ Property is located 40 kilometers east of Sudbury, Ontario, close to infrastructure and year-round road access. The property comprises 17,720 hectares of claims 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.
MacDonald has conducted an extensive drill program over the past year making several new discoveries in the Scadding Mine area. The company is well funded and has started the 2020 drill program already. Hole 16 made a significant discovery in the Daytona Structure intersecting 12.10 grams per tonne gold over 7.8 meters including 1.0 meter at 71.10 grams per tonne gold.
The Daytona discovery was intersected by Holes 13 and 16 located between the Scadding Mine and the E-W Pit with hole 13 intersecting gold at shallow depth and hole 16 successfully intersecting the downdip extension, indicating that the gold mineralization increases with depth in the area. Hole 25 discovered a near-surface gold zone of 5.47 g/t gold over 4.5 meters, between 10.2 and 14.8 meters. This shallow discovery represents the interpreted western extension of the Villeneuve Structure reported in previously announced hole 22. Hole 25 tested a western extension of the Villeneuve Structure at shallow depth and discovered a new chlorite zone at depth now known to overlay the Daytona Structure discovery
The company makes note that holes associated with the Villeneuve Structure, Holes 15 and 20 intersected broad zones of Rare Earth Oxides and hole 21 intersected gold-cobalt mineralization - indicating that Scadding is not just a high-grade gold deposit, but a gold, polymetallic, Iron Oxide Copper Gold type deposit.
Quentin Yarie, MacDonald's President and CEO commented: "As evidenced in today's results, the Daytona Structure appears to be hosting some very high-grade gold mineralization. With drilling results to date, historical data and geophysics, we've traced the Daytona Structure over a strike length of more than 1,100 meters. Similarly, the Villeneuve Structure, that stretches over nearly 1 kilometer in strike, will be the subject of further testing in 2020. Our 2019 drilling results continue to confirm that the Scadding Deposit is much larger than historically recognized. The presence of cobalt, copper and Rare Earth Oxides continues to indicate that Scadding is a polymetallic IOCG-type deposit."
For more information, please visit the company's website www.macdonaldmines.com, contact Quentin Yarie, President & CEO at 416-364-4986, or email email@example.com. For Investor Relations, contact Mia Boiridy, at 416-364-4986, or email firstname.lastname@example.org.
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