August 7, 2013, MacDonald Mines Exploration (TSX-V: BMK) (“MacDonald” or “the Company”) has received the results from its Spring 2013 drill program targeting volcanogenic massive sulfides (“VMS”) in the Ring of Fire (“ROF”). Two drill targets were tested during the program over the Butler 3 and Butler 4 targets respectively. The Butler 3 drilling did not hit appreciable copper or zinc mineralization, but did intersect hydrothermally altered felsic and intermediate volcanic rocks that are indicative that the drill holes are proximal to a large VMS body. The Butler 4 drilling intersected copper and zinc mineralization that Company geoscientists believe to be associated with stratabound mineralization that extends to depth.
“MacDonald is keenly aware that the market, especially today, is only motivated by huge success. James Bay exploration is tough, it is a wetland with little outcrop. Consequently we must utilize drill results for ongoing quantification that further exploration is warranted. The Butler 3 and Butler 4 targets have all the necessary components for discovery:
- A large heat source (ultramafics, proven komatiates)
- Laterally extensive alteration (a large system)
- Known mineralization; zinc, copper, silver and lead
- Secondary mineralization typically associated with larger VMS systems – tin, enrichment of P2O5 “icelandite”
- Geophysical signatures (EM, IP, magnetics, and gravity)
We believe we are now moving to the final stages of our exploration efforts. We have quantified geochemical, geophysical and geological (structural) targets and are working on prioritizing these for the next stage of exploration. We expect to be drilling in the fall of 2013 after a full compilation of the data.” - Kirk McKinnon, President & CEO
Two drill holes (BP13-CU19 and CU20), were drilled on the Butler 3 geochemical/geophysical anomaly. No appreciable copper or zinc mineralization was intersected within these drill holes, however the lithologies intersected sodium depleted intermediate and felsic volcanic rocks. This geochemical signature represents a classic alteration vector for VMS mineralization, and leads Company geoscientists to the conclusion that VMS mineralization is to the south-west.
The targeting of the south-west likely represents the extension of the mineralized zone intersecting in drill hole BP12-Cu14. It appears that BP12-Cu19 and BP12-Cu20 are lateral to the mineralized zone.
- Hole BP12-Cu14 intersected 41.5m of 0.4% Cu, 3.26% Zn and 6g/t Ag
- 12.5m of 8.54% Zn and 6.24 g/t Ag
- 5.0m of 1.18% Cu, 3.86% Zn and 14.48 g/t Ag
The target area to the south-west is corroborated by a coincident EM and IP anomaly. Before drilling this target however, the Company intends to conduct a robust structural analysis of the existing drill holes under the direction of Rogerio Noal Monteiro, Ph. D. (Vektore Exploration and Consulting). This data will be used in conjunction with the geochemical and geophysical vector analysis to guide drill targeting.
Drill holes BP13-CU21 and CU22 were drilled on the Butler 4 geophysical anomaly (with coincident IP and EM geophysical anomalies). BP13-CU22 intersected 7.50% zinc over a 3 metre interval, and 0.23% copper over 2 metres. Drill hole BP13-CU21 intersected 0.15% copper over a 12 metre interval. These drill intersections are significant in that they pierced the upper edge of a large sub-vertical electromagnetic plate that was postulated to be associated with VMS mineralization. Now that the Company has verified that this geophysical target is associated with copper and zinc mineralization, a detailed analysis of the structural geology will be undertaken on the target. This information, in conjunction with geochemical and geophysical analysis will be used to develop discrete drill targets.
On-site Quality Assurance/Quality Control Measures
All samples have been shipped to ACTLABS preparation laboratory in Thunder Bay Ontario. Analyses will be performed in the ACTLABS laboratory in Ancaster or Thunder Bay, Ontario. All core samples were selected by the MacDonald Mines site geologist, and were cut in half by diamond core saw. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags that shipped out on an ongoing basis. The remaining coarse reject portions of the samples remain in storage at the ACTLABS preparation laboratory storage facility in Thunder Bay as required in the event that further work is needed.
Independent Quality Assurance and Quality Control Protocol
A QA/QC program has been implemented to monitor all assays from the current drilling program. Samples are assembled batches and are continuously leaving the site for immediate testing. Included in each batch of samples are certified reference standards every 20 samples and blank samples comprised of sterile drill core placed in at random locations (approximately every 20-30 samples).
Quentin Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and will be responsible for overseeing all aspects of the Company’s exploration programs.
About MacDonald Mines Exploration Ltd.
MacDonald Mines has steadily moved its exploration forward for 10 years in James Bay's Ring of Fire. The company, under the direction of Hadyn Butler, P.Geo, located and staked what has proven to be highly prospective ground for potential discovery.
This area of James Bay presents a unique opportunity in that the Ring of Fire contains the entire suite of minerals including VMS, nickel, chrome, vanadium, titanium and gold potential. The only other similar region is in the Bushveld in South Africa but this region lacks the copper, zinc and nickel content of James Bay.
MacDonald's exploration team is led by Quentin Yarie, P.Geo and Craig Scherba, P.Geo and supported by key renowned consultants in their respective fields. They include, Jim Franklin, PhD, P.Geo, for VMS, and Larry Hulbert, PhD, P.Geo, for nickel, chrome and vanadium.
Brent Nykoliation, Senior Vice President, Corporate Development
Phone: (416) 364-4986, (416) 364-2753 (FAX)
Quentin Yarie, P. Geo, Senior Vice President of Exploration
Phone: (416) 364-4986, (416) 364-2753 (FAX)
Cautionary Statement: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The foregoing information may contain forward-looking statements relating to the future performance of MacDonald Mines Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from MacDonald Mines plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by MacDonald Mines with the TSX Venture Exchange and securities regulators. MacDonald Mines does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. We seek safe harbour.