Summary of Drill Program
- On
June 28, 2023 the Company completed 1,206 meters of oriented diamond drilling, including 954 meters of drilling at the Alwyn Cu-Au trend and 252 meters of drilling at the Glade Au trend. - Intersection of a broad and near-surface potential zone of gold mineralization at Glade
- Visible gold in quartz-carbonate-chlorite veining identified periodically over 40 meters in hole AG-23-111. This zone is located 20 to 60 meters away from intercepts identified in 2021 drilling in hole AG-21-097 (see news release of
May 13 , 2023). - This area has been selected for rush assay analysis and drill core will be sent shortly.
- Extension of possible PGM mineralization at depth
- Disseminations of pyrrhotite and chalcopyrite occurs in
Nipissing diabase and within quartz-carbonate veins between 128 to 149 meters and 212 to 222 meters in hole AG-23-111. - Comparable sulfide assemblage was associated with PGM mineralization in hole AG-22-103, 45 meters northeast (see news release from
September 19 , 2022).
- Visible gold in quartz-carbonate-chlorite veining identified periodically over 40 meters in hole AG-23-111. This zone is located 20 to 60 meters away from intercepts identified in 2021 drilling in hole AG-21-097 (see news release of
- Hydrothermal iron enrichments observed in drilling 300 meters southeast of historic Alwyn mine
- Stringers to zones of semi-pervasive replacement of sedimentary textures by magnetite and/or Fe-rich chlorite, as well as veinlets of K-feldspar-chlorite-fluorite-chalcopyrite and specular hematite in holes AW-23-109 and AW-23-110 could be suggestive of the presence of iron-rich copper-gold mineralization affiliated with an iron oxide copper-gold (“IOCG”) deposit.
Dr.
Example of visible gold observed in hole AG-23-111.
Figure 1: Drilling at the Glade Au trend, with significant intercepts from 2021-2022 and new visible gold observations in AG-23-111.
Figure 2: Drilling at the Alwyn Cu-Au trend, with gravity anomalies and ALS GoldSpot integrated targets.
Official | Collar location | Hole Attributes | ||||
Easting (m) | Northing (m) | Elevation (m) | Final Depth (m) | Azimuth | Dip | |
Alwyn Cu-Au Trend | ||||||
AW-23-106 | 528406 | 5172103 | 274 | 126 | 190 | -58 |
AW-23-107 | 528406 | 5172103 | 274 | 153 | 235 | -50 |
AW-23-108 (Recollared) | 528287 | 5172073 | 284 | 21 | 0 | -50 |
AW-23-108A | 528287 | 5172073 | 284 | 261 | 0 | -50 |
AW-23-109 | 528623 | 5172033 | 280 | 162 | 240 | -47 |
AW-23-110 | 528623 | 5172033 | 280 | 231 | 185 | -55 |
Glade Au Trend | ||||||
AG-23-111 | 529049 | 5165626 | 292 | 252 | 135 | -59 |
Table 1: Collar details for drilling along the Alwyn Cu-Au and Glade Au trends. Note that these are the planned collar coordinates and orientations, which will be updated during post drilling surveying.
Glade Gold Target
2023 drilling at Glade continues to demonstrate near surface zones of gold mineralization hosted in quartz-carbonate veins, as demonstrated by visible gold found in four locations over 40 meters in hole AG-23-111, at 8.9, 17.9, 28.0 and 51.0 meters. These observations occur approximately 55 meters laterally from the significant intercept measured in 2021 in hole AG-21-097, which consisted of 113 g/t gold over 0.96 meters core length (see news release of
In the Glade Nipissing intrusion, the 2022 drilling program intersected 0.16 g/t Pd over 4.00 meters in hole AG-22-103 with anomalous Cu and Ni within a more mafic domain of the Glade Nipissing intrusion. This was a new observation for the
Copper-Gold Mineralization along the
The MLFZ is emerging as a compelling exploration target for copper-gold and potentially cobalt-gold mineralization. Along the 2.5 km
Regionally, the MLFZ is highly prospective for critical and precious metals mineralization. In addition to Alwyn, along the MLFZ on the
Qualified Person
Dr.
About
MacDonald Mines is a Canadian exploration company focused on exploring for critical and precious metals in a Metasomatic Iron alkali-calcic (MIAC) mineral system on its 100 %-owned, 19,720 ha (197.2 km2)
To learn more about MacDonald Mines, please visit www.macdonaldmines.com
ON BEHALF OF THE BOARD
“Mike England”
_______________________________
Mike England, INTERIM CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 TollFree:1-888-945-4770
E-mail: mike@engcom.ca
Forward-Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Photos accompanying this announcement are available at:
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Photo 1
Example of visible gold observed in hole AG-23-111.
Figure 1
Drilling at the Glade Au trend, with significant intercepts from 2021-2022 and new visible gold observations in AG-23-111.
Figure 2
Drilling at the Alwyn Cu-Au trend, with gravity anomalies and ALS GoldSpot integrated targets.
2023 GlobeNewswire, Inc., source