Nov 29 2016
Broadway Gold Mining Ltd. (TSX VENTURE: BRD) ("Broadway" or the "Company") is pleased to announce that Peter E. Walcott and Associates Limited are in the process of completing a property-wide deep induced polarization (IP) survey on its newly acquired Madison gold and copper project ("Madison") near Silver Star, Montana, USA in the Butte-Anaconda mining region. The IP survey is searching for a suspected deeper copper-gold porphyry system beneath the shallower gold-copper skarn zones explored by the previous property owner.
Broadway is the first to explore for the deeper porphyry target at Madison. The IP survey is probing Madison to a depth of 500 meters (1,604 feet). Broadway is scheduling to follow up the IP survey with a 2017 surface drilling program.
The presence of a deeper porphyry system as the source for shallower skarn mineralization has been contemplated by previous explorers based on the presence of altered and mineralized intrusive in some of the historic drill holes. Nonetheless, the focus of historic drill programs through the 1980s was the gold potential of the oxidized skarn mineralization while the porphyry potential remained untested. Of 116 historic drill holes, only six reached a vertical depth in excess of 150 metres (492 feet) with one reaching a maximum of 248 vertical metres (814 vertical feet). In addition, the core and reverse circulation drill chips from the 1983 to 1988 and 1994 programs were not properly preserved for future review and interpretation.
Qualified Person
R. Tim Henneberry, P.Geo., a Qualified Person as defined by NI 43-101 prepared and approved the technical information contained in this release. All geological information provided in this press release, including all information on the Madison project, has been gathered during the Company's due diligence process and has not been independently verified by management.
Source: http://broadwaymining.com/