Toronto, Ontario – February 11, 2020 – MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that it has received results from an additional 9 holes from its fall 2019 drill program resulting in the discovery of 2 new zones at the Company’s SPJ Property, 40 kilometres east of Sudbury, Ontario. The 2020 drill program is currently underway and 3 holes from the fall 2019 program are still pending. Results will be reported when received.
Hole SM-19-016 made a significant discovery in the Daytona Structure intersecting 12.10 g/t gold over 7.8 metres including 1.0 metre at 71.10 g/t gold.
Hole SM-19-025 discovered a near-surface gold zone of 5.47 g/t gold over 4.5 metres (from 10.2 to 14.8 metres). This shallow discovery represents the interpreted western extension of the Villeneuve Structure reported in hole 22 (see news release Dec. 9, 2019). Of note is that all 5 holes associated with the Villeneuve Structure intersected significant cobalt, copper and/or Rare Earth Oxides (“REO”) mineralization.
Quentin Yarie, MacDonald’s President and CEO commented: “These 2019 drill results are further refining our predictive gold mineralization model at Scadding. We now understand that the gold-bearing structures identified are more extensive and much wider than initially thought. Our 2020 drilling program, that is already underway, will focus on expanding these recent discoveries laterally and at depth and testing several new targets on the SPJ Property.
As evidenced in today’s results, the Daytona Structure appears to be hosting some very high-grade gold mineralization. With drilling results to date, historical data and geophysics, we’ve traced the Daytona Structure over a strike length of more than 1,100 metres. Similarly, the Villeneuve Structure, that stretches over nearly 1 kilometre in strike, will be the subject of further testing in 2020. Our 2019 drilling results continue to confirm that the Scadding Deposit is much larger than historically recognized. The presence of cobalt, copper and REOs continues to indicate that Scadding is a polymetallic IOCG-type deposit.”
Table 1. Assay highlights of reported holes at the Daytona Zone