News

February 27, 2020

MacDonald Mines Drills 735.5 g/t Gold over 0.96 Metres and 411 g/t Gold over 0.93 Metres within 19.07 Metres of 59.2 g/t Gold in the North Pit Area

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Toronto, Ontario – February 27, 2020 – MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) is pleased to announce a strong start to its 2020 definition drilling program in the North Pit area. Hole SM-20-026 intersected 59.2 g/t gold over 19.07 metres (m) in the Bristol Structure, 18 metres north-east of the intersection of 52 g/t gold over 12 metres in SM-19-001 (see Sept. 26, 2019 News Release). The on-going 2020 drilling program is well underway with 9 holes drilled so far.  Results will be released as they are received

Quentin Yarie, MacDonald’s President and CEO stated, “The first hole of our 2020 drilling program confirms the presence of significant high-grade gold mineralization in the North Pit area of the Scadding Deposit. Holes SM-19-001 and SM-20-026 indicate continuity for a zone of exceptionally high-grade gold mineralization discovered in the North Pit area. This reinforces the potential for a near-surface high-grade gold resource in the North Pit area as our on-going 2020 drilling program continues to expand the footprint of gold mineralization.”

Table 1. Assay highlights from reported hole

Hole

From (m)

To (m)

Length* (m)

Gold (g/t)

Silver (g/t)

Structure

SM-20-026

58.98

78.05

19.07

59.2

 

Bristol/Monaco

including

71.00

73.96

2.96

376.8

11.2

Including

71.00

72.07

1.07

25.1

0.4

72.07

73.00

0.93

411.0

10.0

73.00

73.96

0.96

735.5

24.4

* Assay results presented over core length. They are estimated to represent 75-85% true width.

Table 2. Coordinates of reported hole

Hole ID Easting Northing Elevation Azimuth Dip Depth (m)
SM-20-026 529217 5166720 306.1 246 -50 100.00

Hole SM-20-026 was testing the continuity of high-grade mineralization in the Bristol/Monaco structure down-dip of the high-grade intersection of 52 g/t gold over 12 metres in SM-19-001. Hole SM-20-026 successfully intersected the extension of that high-grade zone. Comparable to SM-19-001, the chlorite zone in SM-20-026 is comprised of strong chlorite alteration with low sulfide content and is cut by numerous dark-grey quartz stringers and one larger quartz vein rich in pyrrhotite. MacDonald believes that these quartz stringers, that can be rich in very coarse-gold, contribute to the formation of exceptionally high-grade mineralization in the chlorite zones of the Scadding Deposit.

Figure 1. Location of reported hole

On-site Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples were transported in security-sealed bags for analyses to Bureau Veritas in Timmins, 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 in case further work or verification is needed.

MacDonald has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, MacDonald inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.  All samples over 10 g/t gold or the samples with abundant visible gold are analysed by 1 kilogram metallic screen.

SPJ Property highlights

  • 100% ownership
  • 18,860 hectares in excellent mining jurisdiction and close to infrastructure
  • Hosts the high-grade past producing Scadding Gold Mine
  • Evidence of polymetallic mineralization at the Scadding Deposit indicative of IOCG potential
  • Significant gold, cobalt, copper, silver, nickel and rare earth showings outside of the Scadding Deposit footprint

Historically, the Scadding Mine produced 914 kilograms of gold from 127,000 tonnes of mineralized material grading 7.2 g/t (OFR 5771). MacDonald’s reinterpretation of the geological model at the Scadding Deposit and larger SPJ property indicates that it could host a gold-rich Iron-Oxide-Copper-Gold deposit and that significant gold structures may have been missed by previous operators’ drilling campaigns (2009-2011).

Figure 2. MacDonald Mines SPJ Property

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 is focused on developing its large SPJ Project in Northern Ontario.

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, qyarie@macdonaldmines.com

Or Mia Boiridy, Investor Relations, (416) 364-4986, mboiridy@macdonaldmines.com

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.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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