Toronto, ON - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald” or the "Company") announces that it has contracted Abitibi Géophysique Inc. to conduct a gravity survey on land-based targets on the Hornby mineral claims, jointly owned by Temex Resources and MacDonald Mines, and on the Company’s 100% owned BigMac Property.
These claims are interpreted to host the potential for a chromite horizon(s). The Hornby Property is immediately south of KWG/Spider’s “Big Daddy” chromite discovery. Based on the airborne data, Dr. Larry Hulbert, P. Geo, along with Hadyn Butler, P. Geo, have interpreted a number of potential chromite horizons on the BigMac property. The gravity sections will cross these horizons at five locations varying from 2 to 10 kilometres apart.
The gravity survey will help define drill-ready targets along the interpreted horizons. The gravity survey is expected to be completed by mid-March, 2010. The gravity technique has proven capable of defining chromite intercepts in the Ring of Fire and have been successfully utilized by both Freewest (Cliffs) and Spider/KWG in their discoveries.
MacDonald will also refocus exploration attention on its McNuggett Property. Previous drilling results have been the catalyst for the complete re-interpretation of all exploration activity. Quentin Yarie, P. Geo., MacDonald Mines’ new Vice President of Exploration heads this new initiative and he is being assisted by both consulting geologists Hadyn Bulter, P. Geo, and Dr. Larry Hulbert, P.Geo. This analysis has outlined previous drill hole areas where the drilling did not fully explain the anomalous electromagnetic conductors. The revised interpretation has outlined targets that will be drilled in the upcoming exploration program, which is planned to commence in March, 2010.
MacDonald Mines is also meeting with Chief Cornelius Wabasse of Webequie First Nations, to reaffirm its ongoing commitment to operate within Webequie’s traditional areas with the same level of respect and community involvement that was used and demonstrated in three previous exploration programs.
Company Announces Board Appointment
Kirk McKinnon, President and CEO, is pleased to announce the appointment of Julie Lee Harrs to the Board effective February 22, 2010.
Ms. Lee Harrs brings extensive international mining experience to the Company. She currently serves as President and COO of Energizer Resources Inc. and was Senior Vice President, General Counsel and Corporate Secretary of Sherritt International Corporation and previously, Associate General Counsel and Assistant Secretary of Inco Limited (now Vale Inco). Before joining these mining companies, Ms. Lee Harrs was a corporate lawyer with Blakes, a national law firm. Ms. Lee Harrs has worked on mining projects in Canada, New Caledonia, Cuba and Madagascar.
The Company would also like to announce the resignation of Julie Lassonde Gray from the Board, effective February 10, 2010. Kirk McKinnon commented, “Julie serves on a number of mining companies as an executive in a significantly more active role. As a result, she has confirmed to MacDonald Mines that she cannot devote the necessary time that she would like as a MacDonald Mines board member. On behalf of the Company, I would like to thank Julie for her contribution to the Board over the past two years, her participation in MacDonald Mines was both valued and appreciated.”
MacDonald Mines to Participate at the 2010 PDAC
MacDonald Mines will once again be attending the 2010 PDAC (Prospectors & Developers Association of Canada Annual Convention), booth number 2350.
A total of 420,000 options were reissued to Directors, Officers and Consultants of the Company on March 2, 2010 under the terms of the incentive stock option plan of the Company filed with the TSX Venture Exchange and approved by shareholders at the last Annual General Meeting of Shareholders of the Company held on June 11, 2009. The options are exercisable at a price of $0.255 per share for a period of four years and are subject to a four-month hold period from the date of the issuance.
About MacDonald Mines Exploration Inc.
MacDonald Mines is a mineral exploration company with an established history in the exploration of gold and base metals. MacDonald has set upon a strategic direction of exploration in the Canadian Northlands, with particular focus on the “Ring of Fire” in James Bay, Ontario, it’s joint-venture with Virginia Mines in Quebec and now the LaRonge area in Saskatchewan.
More detailed information is available on the website at www.macdonaldmines.com.
For more information, please contact
(416) 364-2753 (FAX)
Brent Nykoliation, Vice President, Business Development
Kirk McKinnon, President & CEO
Richard Schler - Chief Operating Officer & CFO
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.