MacDonald Mines Adds to Land Position in James Bay Lowlands; Additional Airborne Surveys Completed, New Quality Targets Outlined
MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald" or the "Company") is pleased to announce that it has added 100%-owned new ground to its existing Properties in the “Ring of Fire” located in the James Bay Lowlands. These new land positions were selected based on internal Company data as interpreted by Hadyn Butler, Director, P. Geo. and Bill Nielsen, P.Geo.
The additional land acquisitions total 25,104 hectares (1,569 claim units), bringing the Company’s total land position of its 100%-owned and joint venture Properties (with WSR Gold, Temex Resources, Canadian Orebodies and Hawk Uranium) in the “Ring of Fire”, James Bay Lowlands to over 88,816 hectares.
Airborne Geophysical Surveys
An airborne geophysical survey of the entire expanded ground position has just been completed, utilizing GeoTech’s helicopter-borne VTEM system at 100-metre line spacing.
This is being followed up by line cutting of grids over selected AEM anomalies. Ground geophysical work, consisting of EM and magnetometer are underway.
MacDonald is defining a significant number of airborne EM responses that have coincident magnetic signatures. Many have relatively short strike lengths and bear strong similarities to Noront’s Eagle One signature anomaly. It is interpreted that these offer the best opportunity to intersect significant nickel-copper mineralization.
Kirk McKinnon, President and CEO commented, “We are delighted that the latest airborne survey work has produced multiple new quality targets on this newly acquired ground. These anomalies will be added to our inventory of selected targets identified from previous airborne surveys. Many must still be drill tested. These new additions will underpin our exploration in the James Bay Lowlands and provide MacDonald with quality drill targets through 2008. The Company’s strategy of acquiring quality land is a continuous exercise that will be fuelled by new data and internal analysis. As a result of these efforts, we have tactically positioned MacDonald Mines as a long-term investment opportunity in the James Bay Lowlands.”
Spring Drill Program
The Company’s exploration, under the direction of Bill Nielsen P.Geo., is currently analyzing and assessing the large number of anomalies outlined from the airborne survey. As well the anomalies we already have in inventory are being prioritized for upcoming drilling, which will commence in the late spring.
The Company has a new, fully functioning exploration camp located on Butler Lake within the McNugget Property. A diamond drill is on the McNugget Property ready to be positioned for the upcoming spring drill program.
The prioritization of targets is twofold, in that the Company, as the managing partner, is targeting its 100%-owned targets as well as the targets on its joint venture Properties with Temex Resources, Canadian Orebodies and Hawk Uranium.
Please visit our website at www.macdonaldmines.com to view our latest photos of our camp at Butler Lake. To view our Properties by name and locations in the “Ring of Fire”, select the link “McFauld's Lake Claim Map - January 2008”.
This news release has been prepared under the supervision of Bill Nielsen, P.Geo., Director, who is the designated qualified person for the technical information contained in this press release.
Field exploration for the upcoming drill program will be managed by Randall Salo, P. Geo.
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.
For more information, please contact
John Tait, President and Chief Executive Officer, WSR Gold
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
Forward looking statements: Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of WSR, including but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the unavailability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and as such, undue reliance should not be placed on forward-looking statements.