MACDONALD MINES COMPLETES GROUND GEOPHYSICS ON THE MCNUGGET PROPERTY - IDENTIFIES MULTIPLE STRONG DRILL TARGET ANOMALLIES. DRILLING OF THESE TARGETS TO COMMENCE IN MARCH
MacDonald Mines (TSX VENTURE:BMK)
Based on reports from MacDonald's field management personnel, Kirk McKinnon President & CEO stated that " Joe Campbell , P. Geo and Roman Tykajlo, Geophysicist of GeoVector are very pleased with the results of the recently completed ground Magnetics and EM survey."
SPRING 2006 DRILL PROGRAM - MCNUGGET PROPERTY
The Company asked GeoVector to select 5 strong VMS drill targets for the next phase of exploration from the more than 25 anomalies identified by previous drilling and the detailed airborne survey. They were also asked to review the airborne data and isolate 2 potential kimberlite targets utilizing Keating and Empirical evaluation techniques.
Based on GeoVector's evaluation and recommendations, the Company engaged Exsics Exploration Limited to conduct ground geophysics on the selected targets and this work was completed on February 22, 2006 . The data from this survey is now being reviewed by Roman Tykajlo, Geophysicist and the final drill locations will be determined from his analysis.
The ground geophysics has indicated that we have 5 strong VMS conductors and 1 kimberlite target that have similar characteristics to DeBeers Victor Pipe in size.
|The Company will proceed with the following program.|
- Drill 10-12 holes totalling about 1800 meters on the 5 VMS targets.
- Drill 1 Kimberlite target.
The Company as previously outlined will stage the McNugget exploration program out of the First Nations Community of Webequie. This location provides excellent logistics support, which facilitates a very efficient exploration program. We will also benefit from more moderate temperatures and the longer days of early Spring.VMS POTENTIAL
Due to the topography, the exploration strategy requires a greater emphasis on geophysical methods. MacDonald carried out a detailed airborne VTEM and magnetic survey in early 2004 consisting of 50 to 75m line spacing. From this program more than 40 anomalies were defined on the Big Mac property and 25 on the McNugget property. These anomalies are of similar strength to the anomaly over the McFauld's discovery, and range in size from a few hundred meters strike up to greater than 2 km strike length. The magnetic survey indicated a belt of greenstone rocks consisting of a mafic to ultramafic volcanic footwall capped by Felsic fragmental volcanics and sediments, with granitic intrusions proximal to the EM anomalies. This is a characteristic signature of a VMS camp.
The EM anomalies occur almost exclusively on a particular stratigraphy within the felsic fragmental near the mafic-felsic contact. Additionally, analysis of the magnetic survey has identified several circular anomalies that could represent kimberlite pipes.
MCNUGGET PROPERTY - BACKGROUND
|-Located West of DeBeers Victor Pipe Diamond Mine|
|- Adjacent to McFauld's Lake High Grade VMS Discovery (up to 8.08% Cu over 18.8m and 4.83% Zn over 25.75m)|
|- Interpreted to be along strike of the McFauld's Lake VMS stratigraphy|
|- Covers Extensive strike length of favourable VMS geology (more than 20km)|
|- Previous program on McNugget has proven the base metal endowment|
MCNUGGET PROPERTY - HISTORICAL DRILL RESULTS
In the late fall and winter of 2004 MacDonald carried out follow-up ground geophysics on 8 of the EM anomalies and subsequent diamond drilling intersected Cu/Zn enriched massive sulphides including:
|- 1.15% Cu over 5.9m in massive sulphides including 2.1% Cu and 0.45% Zn over 1.5m|
- 0.34% Cu over 28m including 0.83% Cu over 6.7m in a brecciated feeder zone
|- 1.55% Zn over 6.7m including 6.15% Zn and 0.44% Cu over 0.8m|
Analysis of this limited first pass drilling showed that the area has substantial potential for hosting VMS Cu-Zn deposits. The larger size and number of untested anomalies on the Big Mac and McNugget properties indicates that these properties are very favourable for hosting one or more large VMS deposit (more than 30Mt).FINANCING
Richard Schler, Vice President & CFO stated that the company will raise approximately $600,000 , which will provide the necessary financing for this drill program with some contingency to add extra holes. The program is scheduled to run from mid March to the end of April.
MacDonald Mines Exploration cordially invites you to visit our booth number 2714 at the PDAC in Toronto from March 5th - 8th. We will be highlighting recent accomplishments and focus on exploration and development for a very busy 2006.
Joe Campbell , P. Geo is the qualified person responsible for the technical information presented in this release.
WARNING: The Company relies upon litigation protection for "forward- looking" statements.