Toronto, Ontario – January 17, 2019 – MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces results from two diamond drill holes completed last fall at its SPJ Property, 40 kilometres east of Sudbury, Ontario. Both drill holes intersected a wide breccia zone in the Bristol Structure, outside and west of the historic Scadding Deposit, that hosts cobalt and gold mineralization. The cobalt and gold grades, and the intensity of brecciation are comparable to and appear to increase southward towards the Long Trench Breccia 4 kilometres to the south.
These drill results show gold-cobalt mineralization that is comparable to the mineralization sampled in 2018 at the Long Trench. This suggests that the Bristol breccia and Long Trench breccia are related and may be hosted in the same structural corridor. The Bristol breccia is open in all directions and to depth. These results greatly increase the potential size of the Scadding Deposit footprint with the high-grade zones of gold reported to date potentially being contained within a larger envelope of lower grade gold, cobalt and other secondary mineralization.
- The Gold-Cobalt mineralized breccia zone was intersected over 76.3 metres (core length) in SM-19-010 and the hole was terminated in the breccia;
- The mineralized breccia in SM-19-010 contains 0.4 g/t gold and 0.01% cobalt over 14.9 metres, including 2.1 g/t gold and 0.03% cobalt over 1 metre;
- The breccia zone in hole SM-19-009 contains 0.1 g/t gold over 49.7 metres, including 1.7 g/t gold and 0.01% cobalt over 1.0 metres, and 3.1 g/t gold and 0.02% cobalt over 1metre.
Quentin Yarie, MacDonald’s President and CEO commented: “Our 2019 exploration program in the Scadding Deposit continues to support our high-grade gold, polymetallic IOCG deposit model that suggests a much larger potential overall size of mineralized zones than previously thought. We continue to uncover zones of gold mineralization beyond the known footprint of the historic deposit and this discovery of a wide breccia zone, that hosts cobalt and gold mineralization in the Bristol Structure, is quite significant. The newly discovered Bristol breccia illustrates the multi-element metal zonation and the continuity of mineralized structures possible beyond the historic Scadding Deposit.
Table 1. Assay highlights from holes SM-19-009 and SM-19-010:
Cobalt (wt. %)