TORONTO, June 27, 2019 — MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines” or the “Company”) announces the first phase of its exploration program at its SPJ IOCG property near Sudbury. The exploration program will consists of 1,500 to 2,000m of oriented diamond drilling on the Scadding Deposit and regional prospecting on the larger SPJ property. The objectives of MacDonald’s 2019 drilling program are to confirm and expand zones of high-grade gold mineralization in the Scadding Deposit (Table 1 and Figure 1) and to understand the geological controls on mineralization.
Quentin Yarie, President and CEO of MacDonald Mines stated, “Our first exploration program of the Scadding Deposit will focus on zones of high-grade mineralization. We believe we are in an under-explored IOCG district that is now being recognized by the academic community. Historic drilling indicates that sizeable gold zones with high-grade mineralization, open along strike and depth, exists in the deposit but that the challenging and complex geology classically associated with IOCG deposits hindered previous exploration.”A Paradigm shift in ExplorationMultiple poly-metallic showings and deposits have been discovered within the Huronian sedimentary rocks in the Sudbury-Wanapitei area (SPJ Property). Most of these were briefly exploited at surface without properly being explored. For this reason, the formation of the Au-Cu-Co mineralization remains poorly understood. Some past and present explorers claim that the mineralization is related to the Sudbury impact because it occurs in brecciated rocks that have similar metals to the Sudbury Igneous Complex. However, the Geological Survey of Canada has recently identified the Sudbury-Wanapitei area as a promising district for iron oxide-copper-gold (IOCG) exploration. Additionally, Schandl and Gorton (2007) concluded that the Scadding Mine is a modified IOCG deposit. Key indicators of IOCG deposits the company has observed at the SPJ include: regional corridors of sodic alteration;corridors of brecciationthe localized formation of iron oxide mineralization;potassic-iron alteration associated with polymetallic mineralization;and the presence of gold and copper in mineralized zones.The lack of historical understanding has been directly observed at multiple areas on the SPJ property. Using an IOCG exploration model will greatly increase exploration success in the Sudbury-Wanapitei area. MacDonald Mines’ technical team is led by Dr. Jean-Francois Montreuil who has an extensive background in IOCG research and exploration. Jean-Francois completed his PhD on IOCG deposits in the Great Bear Magmatic Zone, Northwest Territories and continues to research IOCG deposits around the world.Figure 1a – Location of the SPJ Property
Figure 1a accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/db160c33-2711-41a6-93c4-b2b45e2446f4Table 1. Historical drill holes assay results in the different zones of the Scadding Deposit (Technical Report NI 43-101 on Scadding Gold Property, Scadding Township, District of Sudbury Ontario, L.D.S. Winter, P. Geo., June 2009)
Figure 1 – Plan map of the Scadding Deposit showing some of the drilling highlights in the targeted areas of the Scadding Deposit for the validation drilling program
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be15cecf-0ae1-49e2-ab4c-91edfa6146e4Following this drilling program and armed with a better understanding of the geology of the Scadding Deposit, MacDonald anticipates being able to conduct an aggressive resource definition program.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'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, [email protected]
Or Mia Boiridy, Investor Relations, (416) 364-4986, [email protected]1Technical Report NI 43-101 on Scadding Gold Property, Scadding Township, District of Sudbury Ontario, L.D.S. Winter, P. Geo., June 2009Cautionary Statement: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.No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. MacDonald Mines does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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