28
Nov

MacDonald Mines Receives Assays of the Oxide Sands, Wawa-Holdsworth Gold Project; Up to 6.2 g/t AuEq

Toronto, Ontario –November 28, 2017 - MacDonald Mines Exploration Ltd. (TSX-V: BMK) ("MacDonald Mines", the "Company", or “BMK”) announces that it has received gold and silver assays for most of the remaining trenches across the Oxide Sands zone. Trenches 650, 675, 700, 775S, 1200, 1250, 1250SE, 1400 and 1700 all produced positive gold (Au) and silver (Ag) results.

Table 1 highlights the recently received results from the on-going sampling. The spatial relationship between these trenches and the Oxide Sands trend is shown in Figure 1.

 

Trench ID

Sample ID

From (cm)

To (cm)

Sample length (cm)

Au (g/t)

Ag (g/t)

AuEq (g/t)*

TR1250SE-4

260462

50

95

45

5.92

24.2

6.2

TR675-2

18070

47

103

56

5.94

9.61

6.1

TR675-8

18077

0

45

45

4.81

10.5

5.0

TR775S-9

260121

20

103

83

4.47

11.4

4.6

TR650-5

260313

126

162

36

3.6

43.6

4.2

TR675-1

18065

0

76

76

4.10

4.23

4.2

TR1700-26

260427

30

92

62

3.52

29.1

3.9

TR1250SE-4

260461

0

50

50

3.69

11.6

3.8

TR1700-25

260426

56

95

39

3.31

38.6

3.8

TR775S-9

260122

103

140

37

3.57

8.03

3.7

TR1250SE-6

260465

0

70

70

3.59

5.06

3.7

TR1250SE-6

260466

70

110

40

2.96

13.6

3.1

TR1250SE-3

260458

0

36

36

2.70

28.9

3.1

TR1250-1

260252

40

93

53

2.93

6.02

3.0

TR1250SE-5

260464

67

105

38

2.66

17.4

2.9

TR650-3

260307

187

227

40

2.58

23.2

2.9

TR775S-10

260124

60

100

40

2.57

19

2.8

TR675-0

18063

7

67

60

2.65

6.88

2.7

TR1250SE-3

260459

36

90

54

2.42

11

2.6

TR1200-4

260236

115

130

15

1.75

58.1

2.5

TR1250SE-2

260457

0

42

42

2.43

6.95

2.5

TR1250SE-5

260463

0

67

67

1.92

23

2.2

TR1200-6

260241

116

130

14

1.62

44.4

2.2

TR1200-5

260238

116

130

14

1.65

33.7

2.1

TR675-0

18062

0

7

7

1.96

7.21

2.1

TR675-3

18073

45

130

85

1.83

7.62

1.9

TR1400S-21

260444

50

120

70

1.19

51.4

1.9

TR1700-24

260422

0

93

93

1.54

10.4

1.7

TR675-1

18067

76

136

60

1.61

5.52

1.7

TR675S-6

260221

0

45

45

1.34

20

1.6

TR650-8

260323

155

219

64

1.27

19.2

1.5

TR775S-11

260128

40

110

70

1.29

16

1.5

TR750S-11

260143

70

140

70

1.3

13.4

1.5

TR750S-9

260138

0

70

70

1.32

11.7

1.5

TR675S-5

260223

30

70

40

1.25

16.4

1.5

TR700-15

18128

0

30

30

1.40

4.82

1.5

TR650-6

260316

135

175

40

1.07

24.4

1.4

TR650-4

260310

213

273

60

1.2

13.8

1.4

TR775S-10

260123

0

60

60

1.04

13.5

1.2

TR1700-25

260424

14

56

42

0.97

14.2

1.2

TR1250-2

260253

44

70

26

1.05

5.72

1.1

TR650-9

260327

146

206

60

0.95

13.1

1.1

TR1400S-22

260441

104

155

51

0.34

58

1.1

TR675S-8

260216

38

88

50

0.89

12.5

1.1

TR750S-14

260149

0

70

70

0.90

10.6

1.0

TR775S-8

260117

30

88

58

0.88

10.3

1.0

TR650-7

260319

210

255

45

0.87

10.9

1.0

 

*AuEq calculated using spot price of 1291.5 US$/oz for gold and 17.13 US$/oz for silver taken at market closure on November 23, 2017. AuEq = (Grade Au) + [(Grade Ag)/(Gold Price/Silver Price)] (ratio rounded to 75).

Quentin Yarie, President and Chief Executive Officer of MacDonald Mines stated, "The trenching of the Oxide Sands has resulted in very positive findings. It not only confirmed that they extend on surface over a strike length of 1,100 m but also, that we’re dealing with higher grades than anticipated. Assay results with up 8.94 g/t gold are very encouraging and we expect the assay results from our sonic drilling campaign to corroborate these findings.”

bmk figure1 pr 171124

Figure 1 - Plan map of trenching locations with gold AuEq values

 

Next Steps for the Wawa-Holdsworth Project

Oxide Sand resource estimation

The 2,000 metres sonic drilling program at the Wawa-Holdsworth Project announced on September 20, 2017 has been completed. The program was undertaken to assess the vertical distribution of the precious metals within the Oxide Sands. Assays are pending for all 401 holes drilled.

Lode gold exploration at the Reed-Booth Showing

In addition to the Oxide Sands, MacDonald Mines continues to investigate the lode gold potential on the property. The Reed Booth Showing is a target for high-grade gold mineralization at the Wawa-Holdsworth Project and the Company is awaiting the results of its channel sampling program announced on Nov. 9, 2017.

Regionally, structures parallel to the one hosting the Reed-Booth Showing, host some of the historic high-grade mines of the Michipicoten Greenstone Belt. This includes the Edward Mine (144,000 ounces of gold at 11 g/t) located 28 km NE, and the Minto Mine South Zone actively explored by Red Pine Exploration (historic Minto Mine produced 22,000 ounces of gold at 12.56 g/t gold) located 18 km SSW. The reader is cautioned that the gold mineralization present at the Edward Mine and in the Minto Mine South Zone is not necessarily indicative of mineralization on the Company’s Wawa-Holdsworth property.

Overview of the Wawa-Holdsworth Project

  • Neighbouring Alamos' Island Gold Mine, Argonaut's Magino Gold Project and Goldcorp’s Borden project
  • Numerous gold showings with diversified mineralization styles occurring in a 500 metres-wide deformation corridor
  • Year-long road access and easy access to rail, road, electrical power, labour force and suppliers

Historic work by previous operators defined three gold targets on the Wawa-Holdsworth Project:

  • Greenstone-hosted quartz-carbonate vein deposit (Soocana Vein System and Reed-Booth Showing);
  • BIF-hosted gold deposits (gold-bearing pyrite zones in an Algoma-type iron formation);
  • Gold-bearing Oxide Sands developed from the weathering of the auriferous pyrite zones.

MacDonald Mines is focusing its near-term exploration program on the Oxide Sands. Assays results received so far indicate that the precious metals-rich sand formation occurs over a 1.1 km strike length, but Oxide Sands were also observed in the trenching and drilling west of line 1700. Pending assay results, the favourable soil formation containing the Oxide Sands may have an overall strike length of approximately 1.7 km. This will corroborate MacDonald’s interpretation of the geophysical anomalies obtained by the MAX-MIN survey conducted earlier this year (see July 6, 2017 News Release)..

Positive preliminary metallurgical results (see July 11, 2017);

  • The concentration ratio of gold in rougher flotation averaged 6.0:1
  • The concentration ratio of silver in rougher flotation averaged 5.2:1
  • Reduction of feed volume in rougher flotation by approximately 85-90%
  • The Oxide Sands can be processed by a simple crushing/flotation process
  • No caustic treatments are necessary
  • The processing will require low power requirements
  • The waste material is inert (>70 percent silica/quartz)

The soft and relatively unconsolidated Oxide Sands material can be extracted like an aggregate. The Company is working to better define the Oxide Sands in preparation for their potential extraction.

On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Sand samples were transported in security-sealed bags for analyses to Activation Laboratories Ltd. in Ancaster, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.

MacDonald Mines has implemented a quality-control program to comply with best practices in the sampling and analysis of both the Oxide Sands and drill core. As part of its QA/QC program, MacDonald Mines inserts external gold, silver, platinum and palladium standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

Qualified Person
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold exploration in Canada.  The Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project.

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".

To learn more about MacDonald Mines, please visit www.macdonaldmines.com 

For more information, please contact:

Quentin Yarie, President & CEO, (416) 364-4986, This email address is being protected from spambots. You need JavaScript enabled to view it.

Or Mia Boiridy, Investor Relations, (416) 364-4986, This email address is being protected from spambots. You need JavaScript enabled to view it.

Cautionary Statement:

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 the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company 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.