MacDonald Mines Acquires a Significant Geological Favorable Land Position Similar to the Ground Hosting the Spectacular Noront Nickel-Copper Discovery
TORONTO, ONTARIO-- MacDonald Mines (TSX VENTURE:BMK) experience and expertise in the James Bay Lowlands enabled the Company to execute a rapid land acquisition response in recognition of Noront's major Ni/Cu discovery. This resulted in the Company having the ability to strategically select and acquire claim block targets based on scientific knowledge in the core zone of the greenstone belt. This also allowed the company to largely avoid competitive staking situations and acquire several claim groups adjacent to the south boundary of the Noront Double Eagle Property and covering what is interpreted to be the contact of an important geological unit.
All property additions were staked to reflect optimum geological settings for potential Nickel and Copper deposits.
MCNUGGET PROPERTY ADDITIONS
MacDonald has acquired 19 additional claim blocks representing approximately 4,400 hectares which expands the company's current McNugget Property to 55 claim blocks covering an area of approximately 13,000 hectares.
BIG MAC PROPERTY
MacDonald continues to hold claim blocks on its Big Mac Property which cover an area of approximately 8,900 hectares.
MacDonald owns a 100% interest in both the McNugget and Big Mac claims.
MACDONALD /TEMEX 50/50 JOINT VENTURE LAND ACQUISITION
In a 50-50 joint venture with Temex Resources Corp, MacDonald has acquired a further 12 separate parcels of land totaling 97 claim blocks which represents approximately 24,000 hectares.
This land acquisition strategy positions MacDonald with further nickel-sulphide-potential properties, new skilled experienced business partners and strategic risk spreading for this important mining region of Ontario.
EXTENSIVE AIRBORNE SURVEY
MacDonald Mines (as the operator of the Temex- MacDonald joint venture projects) is now coordinating an extensive airborne geophysical survey over the newly staked claim blocks, allowing the likelihood of further positive news. This airborne survey is scheduled to commence in early October of this year. Fugro Airborne Surveys has been contracted to conduct a HeliGEOTEM time-domain electromagnetic survey over the newly acquired property at 100 meter line spacing. Bill Nielsen P. Geo. Director of MacDonald will head up the exploration team for both MacDonald and the Joint Venture.
MacDonald and its joint venture partners now have strong land positions covering favorable geology for both nickel and massive sulphide deposits with potential for further sulphide discoveries.
PREVIOUS MACDONALD EXPLORATION RESULTS INCLUDING INTERSECTION OF NICKEL MINERALIZATION
In the outcrop-poor James Bay Lowlands (Webequie area, eastern Sachigo Subprovince of the Archean Superior Province), MacDonald 's land acquisition strategy has always been based on maximizing target potential by:
(1) interpreting the local geological and geophysical patterns and,
(2) using proven ore deposit models known to be fertile for specific mineral target types.
This geology-based strategy has led to MacDonald finding a new nickel sulphide discovery and volcanogenic massive sulphide ("VMS") hosting copper-zinc stratigraphy.
- Nickel sulphide discoveries (see press release of June 14, 2007 in which Hole MN-07-39 intersected 4.5m grading 0.36%Ni and a further 22.5meters down the hole a further intersection of 27.0 meters averaging 0.26%Ni.).
- VMS Discoveries (press releases of Jan. 24, 2005, Hole MN-4 intersected 6.7m averaging 1.55% Zn, press release of June 7, 2006 in which it was announced that Hole MN06-18 intersected 6.49m averaging 0.64%Cu and 2.92%Zn and press release of June 14, 2007 where intersections of up to 0.57% Cu and 7.94% Zn were intersected over 1.5m in Hole MN07-28)
The presence of thick differentiated gabbro-ultramafic chambers on MacDonald 's Big Mac and McNugget claim blocks, and the association of these units with known MacDonald nickel sulphide, as well as the highly significant Noront Resources Ltd's massive nickel sulphide discovery allows MacDonald the opportunity to state that it has (1) not only fertile geology in the core parts of the local greenstone stratigraphy but also, (2) numerous untested airborne geophysical targets on its current claim holdings to be further explored among the few that have been drill-tested so far.
That these thick gabbro-ultramafic sills have high nickel and possible Platinum Group Element (PGE) potential has now been proved by the presence of nickel sulphide in more than one place, as well as the regional presence of chromitites and laterally extensive titanomagnetite layers - evidence for hot magmas of the type that may host large massive nickel sulphide deposits near their base.
Furthermore, these large differentiated (chemical-layer-separated) magma chambers were most likely the heat engine that drove the circulation cells on the Archean seafloor that created the VMS discoveries on Spider/KWG's and MacDonald 's claim packages. In short, a possible geological link has been established between the potential nickel sulphide hosts and overlying VMS-hosting stratigraphy and this allows a large degree of confidence when selecting new claim packages in this part of the Sachigo Subprovince.
MacDonald was drawn to the James Bay Lowlands by the DeBeers-discovered Spider/KWG McFauld's Lake VMS multiple ore bodies in 2002-2004. Some previous work in this remote part of the Canadian Shield had suggested that the greenstones had exciting potential to host new mineral discoveries, and MacDonald acquired the extensive Big Mac and McNugget Properties based on public-domain geophysical similarities to the McFauld's Lake VMS discoveries firstly, and known greenstone geology models for nickel.
Detailed airborne geophysical surveys of MacDonald 's initial properties by Geotech Ltd. in 2004, (4,600 km on 75 meter cross lines) led to a number of new and notable geophysical targets on both the Big Mac and McNugget Properties. Shallow drill testing of some of these targets has created new understandings of the underlying greenstone stratigraphy and the very encouraging discovery of both VMS and nickel-sulphide hosting units over multi-kilometer strike lengths most of which remain to be drilled.
LAND ACQUISITION STRATEGY
Hadyn Butler, P.Geo and director of MacDonald stated, "With a team of geoscientists having local geological-geophysical experience, MacDonald was ideally positioned to rapidly acquire further properties based on regional public-domain geophysical patterns and, especially, its in-house (proprietary) experience gained from its broad scope of targeted drilling along the greenstone belt (46 holes totaling approximately 7,500 meters). The claim acquisition strategy followed was to acquire interpreted mafic-ultramafic sills based on patterns similar to that shown by known sills in the immediate vicinity of current nickel sulphide discoveries and, where possible, adjacent stratigraphy with some VMS potential. MacDonald 's expertise in the James Bay Lowlands allows rapid response to new discovery. Such rapid response gave MacDonald the capacity to strategically select claim block targets based on scientific experience in the core zone of the greenstone belt."
Commenting on recent developments in the area, Bruce Durham P.Geo, Chairman of Temex Resources, stated, "Based on my experience with Canadian Royalties exploring for similar magmatic Ni-Cu-PGE deposits in the Raglan South area, I expect that the Noront discovery will be proven to be very significant and I would be surprised if other discoveries of similar mineralization were not made in the coming months. There has been virtually no exploration carried out for Ni-Cu-PGE deposits in the area and consequently there is huge potential for more discoveries by Noront, ourselves and others."
Kirk McKinnon, President & CEO of MacDonald stated, "I was extremely pleased that within a very short timeline we were able to mobilize a very impressive and talented group of geoscientists to review the available geological data and identify property acquisition targets with favourable geology for potential Nickel deposits. MacDonald was very fortunate to have Randy Salo, P. Geo, assemble and lead the staking team. He will also be the field exploration manager for the James Bay project in the Webequie district."
Bill Nielsen, P. Geo and Director of MacDonald will take the lead role in the overall exploration program and strategy. He brings over 30 years of successful base metal exploration to the project.
Hadyn Butler, P. Geo and Director of MacDonald brings over 25 years of successful nickel exploration with Inco to the project.
Randy Salo, P. Geo has extensive field program experience and adds significant logistical skills to the project.
Temex Resources Corp., our joint venture partners also provide us with additional years of exploration experience and knowledge. They are as follows.
- Ian Campbell, P. Geo., President & CEO, Temex Resources Corp.
- Bruce Durham, P. Geo., Chairman, Temex Resources Corp.
- Karen Rees, P. Geo., General Manager, Temex Resources Corp.
MacDonald is confident that the combination of these individuals in conjunction with skilled and experienced external consultants/contractors provides us with a highly successful and seasoned technical team.
FIRST NATIONS COMMUNITY OF WEBEQUIE
The Company once again operated its base camp out of the First Nations Community of Webequie, which is about a 15 minute helicopter ride from the McNugget Property.
With the Community's assistance and support, this is now the sixth program we have conducted using Webequie as a base camp. We have looked to the Community to supply both infrastructure and personnel to support the exploration programs. We would once again like to take this opportunity to thank Chief Scott Jacob and the Community for their continued support and assistance.
Bill Nielsen, P.Geo. is the designated qualified person for the technical information contained in this press release.
WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.