MacDonald Mines Exploration Ltd. (TSX.V: BMK) (“MacDonald” or “the Company”) is pleased to announce it will commence a 6,000 meter diamond drill program on its Butler Lake and Semple-Hulbert Properties in the James Bay Lowlands of Northern Ontario. The 3,000 meter Butler Lake program is scheduled to commence in the third week of February, while the 3,000 meter Semple-Hulbert program is scheduled to commence in March.
The Butler Lake drill program will focus on high priority vanadium, nickel-copper-platinum group element (Ni-Cu-PGE), and volcanogenic massive sulphide (VMS) targets.
The Semple-Hulbert drill program will focus on high priority Ni-Cu-PGE targets in a never-before-drilled geologic complex that geophysicaly has been interpreted to resemble the Voisey's Bay Ni-Cu deposit.
Butler Lake Property
With the identification of high tenor vanadium pentoxide (V2O5) during the past exploration program (up to 1.57%), and the subsequent analysis of the geophysics underlying the area, the Company believes that there are at least two trends of vanadium-bearing magnetite gabbro with intersections up to 64.5m with strike lengths of 6 and 7 kilometers respectively.
Vanadium-bearing magnetite in the form of ferrovanadium is used as a strengthener and hardener for high-strength tools, and specialty steels. The Company believes that the delineation of vanadiferous trends on the Butler Property would be of particular interest to steel companies interested in vertical integration. As such, the Company will test the strike length of these potentially vanadiferous horizons with diamond drilling during the upcoming exploration program.
The recognition of the similarities in geologic setting within the Butler Lake property and that found at Kidd Creek by Dr. James Franklin, P.Geo has resulted in a focused analysis and subsequent synthesis of all geologic, geochemical, and geophysical data within areas prospective for VMS mineralization. This multidisciplinary synthesis has resulted in the selection of high priority drill targets which the company will test with ~3000m of drilling during the upcoming program.
The identification of unequivocal komatiites and magmatic nickel sulphides on the Butler Lake property by Dr. Larry Hulbert, P.Geo, has demonstrated to the Company that the property has the potential to host significant Ni-Cu-PGE mineralization of a similar tenor to that observed at Noront Resources' Eagle 1 deposit. The economic importance of komatiite was first widely recognized in the early 1960s with the discovery of massive nickel sulfide mineralization at Kambalda, Western Australia. Komatiite-hosted nickel-copper sulfide mineralization today accounts for about 14% of the world's nickel production, mostly from Australia, Canada and South Africa. The Company will target high priority Ni-Cu-PGE targets with diamond drill holes during the upcoming program.
The data compiled to-date for the Semple-Hulbert property has been reviewed by leading experts in the nickel field, and has been described as a Voisey's Bay look-alike. Target prioritization will be completed over the area in March, with diamond drilling following shortly thereafter.
MacDonald Mines invites investors to visit its booth No. 2350 at the investor exchange of the PDAC 2011 located in the south building of the Metro Toronto Convention Centre from March 6 to March 9, 2011.
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. Hadyn Butler, P.Geo., played the key role in providing the necessary insight into the land acquisition of MacDonald’s properties in the Ring of Fire. His experience and skills in interpreting geologic areas of economic interest also led to the acquisition of the Semple-Hulbert property.
As detailed in the Company’s recent press releases, MacDonald Mines has several significant mineral opportunities across multiple properties in the James Bay Lowlands. On its Butler Property, new volcanogenic massive sulphide (VMS) mineralization of substance has been discovered. Four VMS mineralized greenstone fold limbs, all of which have now yielded VMS mineralization over a potential cumulative strike length of approximately 20 kilometres, have been identified and the Butler Property has the potential to host a new VMS camp with characteristics similar to those seen at Matagami or Noranda in Quebec.
MacDonald’s highly prospective Semple-Hulbert Property contains very conductive and discrete targets within a layered magnetic structure, which is typical of magmatic massive sulphides containing nickel.
The Company’s Sanderson Property (formerly the Big Mac Property) exhibits high-priority nickel and copper targets with geological and geophysical signatures similar to Eagles Nest discovery of Noront Resources.
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.
More detailed information about the Company is available on the website at www.macdonaldmines.com
For more information, please contact:
(416) 364-2753 (FAX)
Brent Nykoliation, Vice President, Business Development
Quentin Yarie, P.Geo, 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.