MacDonald Mines Limited (TSX-V: BMK) (MacDonald Mines) is pleased to announce that the Company has completed nine holes, totaling 2,553 metres, of an ongoing drilling program on its Ring of Fire, Semple-Hulbert project near Kasabonika, Ontario.
Multiple semi-massive to massive sulphides of 1 to 2 metres in thickness have been encountered
- Additional geophysical targets identified using surface magnetics and Crone pulse EM
- Assay results for Semple-Hulbert expected by early September, 2011
- Numerous vanadium rich gabbro layers with significant thickness were encountered
- Olivine-bearing, magnetic gabbros were intersected
Following initial assay and geophysical results the spring/summer program was completed in August. The company is currently reviewing all data as it awaits final assays, which will allow for both additional geological and geophysical interpretation.
Drilling thus far has provided the first raw data from the property and substantial insight into the geologic and geophysical nature of the aforementioned anomaly. Rock types have been interpreted to consist of a north plunging (~60-65 degrees) layered intrusive suite of mafic to ultramafic, moderately metamorphosed and structurally altered (mainly folded), repetitive magnetic gabbro to gabbro/gabbronorite units (‘cycles’).
The most notable units discovered have proven to be numerous vanadium-rich magnetite gabbro layers (near massive magnetite locally) with robust apparent thicknesses ranging from 20-40 meters .
Additionally, gabbroic units containing strong sulphide zones with semi-massive to massive sulphides of 1 to 2 metres in thickness have been encountered, with the margins of these zones consisting of sulphide ‘stringers’ containing visible pyrrhotite, chalcopyrite and lesser pentlandite. Olivine-bearing, magnetic gabbro was also encountered in the final drill hole of the program; SH11-09. Drilling to follow up on this ultramafic material will continue in the fall of 2011 with the goal of defining nickel bearing ultramafic units stratigraphically lower in the intrusive suite.
Results of the program will be released as soon as they have been received and reviewed
The company will also relocate its exploration camp to newly discovered favourable geology. This will also provide important cost saving in the forth-coming drilling exploration.
The total 2011 summer drill program consisted of 2,553.90 metres of drilling over 9 diamond drill holes (*Note: SH11-02EXT was an extension hole to follow up on a down hole geophysical target); 5 targeting VMS mineralization, 2 targeting vanadium and 2 targeting Ni-Cu-PGE mineralization:
Drill Hole #
Resignation of Director
The Company announces that Julie Lee Harrs, director of the Company has resigned effective August 18, 2011 to pursue other opportunities. The Board of Directors would like to take this opportunity to thank Ms. Lee Harrs for her contribution and efforts over the past one and a half years and wish her every success in her future endeavors.
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 is a mineral exploration company with an established exploration history in the Canadian Northlands. MacDonald Mines has set upon a strategic direction of exploration with particular focus on nickel, chrome, copper, zinc, vanadium and titanium in the “Ring of Fire” area of the James Bay Lowlands of Northern Ontario. More detailed information about the Company is available on the website at www.macdonaldmines.com
For more information, please contact:
Toll Free: 1 - (800) 818-5442
Tel: (416) 364-4986
Fax: (416) 364-2753
Brent Nykoliation, Vice President, Business Development
Quentin Yarie, P.Geo, Senior Vice President, Exploration
Kirk McKinnon, President & CEO
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.