Jun 2 2017
MacDonald Mines Exploration Ltd. announces that it has completed the previously announced airborne geophysical survey of its Wawa-Holdsworth Project, located 20 km northeast of Wawa, Ontario. Results indicate that the Oxide Sands continue along strike from the known surface exposures (see Figure 1).
Quentin Yarie, MacDonald's President and CEO commented: "The magnetic survey successfully mapped the Oxide Sands along trend. Results indicate that they likely extend beyond what is currently defined and the upcoming EM survey will map their depth. This data will positively impact our upcoming trenching and drill programs by allowing us to focus our exploration efforts. Following the completion of the geophysical survey, we will undertake an expanded trenching program followed, shortly thereafter, by a drill program."
EM Survey
An EM geophysical survey is scheduled to begin in early June. The EM survey has been designed to map the depth extent of the Oxide Sands and allow us to better understand the overall potential of the zone.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/Figure1_1096286.jpg
Wawa-Holdsworth Project Highlights
- Approximately 285 hectares, 20 kilometres northeast of the town of Wawa
- 18 fee simple absolute patented claims, includes surface and mining rights
- Neighbouring Argonaut's Magino Gold Project & Richmont's Island Gold Mine
- 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
Overview of the Wawa-Holdsworth Project
Historic work by previous operators defined three gold targets on the Wawa-Holdsworth Project:
- Greenstone-hosted quartz-carbonate vein deposit (Soocana Vein System);
- 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. These appear to extend for more than 2 kilometres on the property and reach a depth of at least 8 metres.
Recent preliminary sampling of the Oxide Sands by MacDonald Mines returned an average grade of 5.45 g/t gold (see May 16, 2017 News Release).
Preliminary metallurgical testing conducted by previous operators on composite samples recovered, without crushing, between 69% and 98.7 % gold. Earlier this year, MacDonald Mines initiated in depth metallurgical testing of the Oxide Sands to achieve the highest possible gold and silver recovery. Results are expected this Fall.
The soft and relatively unconsolidated Oxide Sands material can be extracted like an aggregate. The Company is working to better define the Oxide Sands as continues to prepare for their potential extraction.
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.
Source: http://www.macdonaldmines.com/