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M3 Metals Corp.
M3 Metals Corp.
Registriert in: Kanada WKN: A2PNZD Rohstoffe:
Art: Originalaktie ISIN: CA55379R1073 Gold
Eisenerz
Kupfer
Molybdän
Heimatbörse: TSX Venture Alternativ: MLGCF
Währung: CAD    
Symbol: MT.V Forum:

M3 Metals Identifies Significant High-Grade and Widespread Gold Values at Mohave

06.05.2020 | 9:05 Uhr | Newsfile

Vancouver, May 6, 2020 - M3 Metals Corp. (TSXV: MT) (FSE: XOVN.F) ("M3 Metals" or the "Company") is pleased to report that its initial sampling program at the Mohave Mine Gold Project ("Mohave" or the "Property") has identified high-grade gold values over an area of approximately 10 square kilometres (see Figure 3 below). Gold mineralization has been identified across the entire project area and is associated with quartz-calcite veins, breccia, quartz and/or calcite sheeted veins, and stockworking. Samples ranged up to 78 gpt (grams per tonne) gold over 1.5 metres from surface chip sampling (See Figure 3 and Table 1 below). Results grading above 3 gpt are outlined in the Table 1. below, the full list of results is available on the Mohave Project page on M3 Metals website at https://www.m3metalscorp.com/projects/gold-project/mohave-gold-mine-project.

Appreciable gold values were detected in almost every zone sampled during this initial program which may collectively be a part of a large and robust low-sulfidation, epithermal system. The current geological model at the Mohave project indicates that the epithermal gold system was emplaced into an evolving volcanic/intrusive complex within a north-trending corridor undergoing extreme extension. Evidence of ore-fluid boiling is widely observed and locally well-developed lattice texture (bladed calcite) is present. Images from the program including sample mineralization style and textures are available on the Mohave project page on M3 Metals website https://m3metalscorp.com/projects/gold-project/mohave-gold-mineproject/initiail-sampling-program-photos​.

Three styles of mineralization were observed during this initial program:

  • Compact intra-mineral tectonic breccia developed along low-angle faults;
  • Low-angle quartz-chalcedony-calcite veins and breccia (banding and lattice texture are widespread) developed in extensional zones; and
  • Quartz-chalcedony sheeted veins and stockwork (mostly in porphyritic dacite flows) surrounding the above structural lenses or 'damage zones'.
  • When all three mineral styles are observed together, the overall mineralized package may attain in excess of 50 meters in width.

M3 Metals is currently planning a follow up program that will continue to prioritize drilling targets by focusing on areas with the greatest volume potential and will better define the full extent of mineralized zones. This will include efforts to identify new undiscovered zones that may exist below the surface. Field observations and consideration of historic drill data support extensions of surface mineralization to depth or gold zones blind to the surface.

Robert Johansing, Economic Geologist, M.Sc., Q.P., comments "Mineralization and tectonism at the Mohave Project likely overlapped and occurred in multiple stages, creating numerous environments for gold deposition. At many of the sites only a portion of the mineralized package were sampled and require additional sampling to determine their full extent. The results presented below [see Table 1] should allow Phase 2 sampling to focus on areas that contain significant gold values within broadly mineralized, unsampled packages and in areas where the geologic environment is suggestive of significant tonnages".

Adrian Smith, President of M3 Metals comments "The initial results from the Mohave are significant and identify many horizons within broad zones containing abundant oxide gold mineralization that have not been properly documented. We see a clear path forward at the Mohave Project through continued exploration to defining a significant resource and through to production".




Figure 1: Sub-horizontal vein breccia composed of massive chalcedony vein and veined, silicified fragments cemented by banded, quartz-calcite veins and veinlets. Sample Nos. 0016 & 0017 - 3.0m @ 5.12 gpt Au.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5509/55422_7ea4254df4ea8bbe_002full.jpg



Figure 2: Several meters of strong calcite > quartz sheeted veinlets; Sample No. 0166 (lower center of photo) contained 1.5 meters @ 4.85 ppm Au; north side of Epidote Zone.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5509/55422_7ea4254df4ea8bbe_001full.jpg



Figure 3: Location Map of Rock Chip and Grab Samples from M3 Metals Initial Sampling Program

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5509/55422_7ea4254df4ea8bbe_003full.jpg

Table 1. Rock Chip and Grab Samples from M3 Metals Initial Sampling Program (>3gpt gold)

May 2020 Samples
UTM WGS 84 Z11


Sample
Number
Area Sample
Type
Easting Northing Sample
Width (meters)
Gold
Au (gpt)
Silver
Ag (gpt)
0003 N. Klondyke Grab 723323 3934174 grab 3.23 7.1
0006 Klondyke Chip 723346 3934160 1.5 78.1 115
0007 Klondyke Chip 723347 3934159 1.5 5.43 28.1
0009 Klondyke Chip 723390 3934185 1.0 5.28 1.5
0012 N. Klondyke Chip 723431 3934353 2.0 3.84 20.7
0014 Klondyke Chip 723529 3934124 3.0 5.06 1.7
0016 Klondyke Chip 723346 3934143 1.5 5.39 11.9
0017 Klondyke Chip 723346 3934143 1.5 4.85 8.6
0018 S. Klondyke Chip 723619 3933721 2.0 8.56 5.2
0020 Jim & Jerry Chip 723707 3935120 2.0 10.55 37.5
0021 Jim & Jerry Float 723723 3935115 grab 21.2 76.4
0023 Jim & Jerry Chip 723729 3935120 1.5 12.85 19.4
0029 Scout Chip 723315 3935180 2.0 3.82 3.9
0030 Scout Chip 723314 3935177 2.0 3.8 4.7
0031 Scout Chip 723344 3935168 2.0 3.83 3.4
0032 Scout Chip 723342 3935164 1.2 3.85 8.4
0042 S. Scout Chip 723256 3934838 1.1 3.78 15.5
0048 Jim & Jerry Chip 723711 3935102 grab 13.2 35.4
0054 Jim & Jerry Chip 723757 3935211 1.6 5.87 5
0055 Golden Ram Chip 723710 3935566 0.9 6.06 8.9
0062 Golden Ram Float 723644 3935552 grab 3.34 1.8
0063 Golden Ram Grab 723607 3935590 grab 8.33 4
0065 Golden Ram Grab 723582 3935572 grab 4.42 2.8
0068 West Jim & Jerry Chip 723524 3935364 1.5 3.26 8.5
0069 West Jim & Jerry Chip 723524 3935362 2.0 5.16 13
0079 Scout Chip 723308 3935205 1.0 6.73 5.8
0080 Scout Chip 723281 3935236 0.8 3.26 2.2
0084 Orphan Grab 723142 3935133 grab 3.98 3.7
0085 Orphan Chip 723141 3935138 1.6 6.66 3.4
0086 Orphan Chip 723156 3935142 1.0 8.5 5.7
0087 Orphan Chip 723152 3935144 1.1 14.2 56.8
0090 Lower Scout Chip 723240 3935156 2.0 4.58 31.2
0092 Golden Door Chip 722944 3935241 2.0 13.1 17.6
0094 Golden Door Chip 722935 3935189 1.5 18.3 40.8
0097 Golden Door Chip 722845 3935240 1.3 3.68 3.4
0101 Dixie Mine Chip 723314 3932405 0.5 9.22 4.8
0112 Dixie Queen Grab 724243 3932409 grab 6.91 48.7
0113 Dixie Queen Chip 724260 3932441 0.2 4.92 58.4
0116 Middle Dixie Float 723771 3932385 grab 4.27 1.6
0119 Dixie Queen Chip 724118 3932521 0.5 3.42 57.5
0120 Dixie Queen Grab 724119 3932520 grab 7.54 31.9
0126 Middle Dixie Chip 723852 3932581 1 3.27 57.8
0129 Jamie Chip 724748 3933184 0.8 5.07 0.8
0131 Jamie Grab 724743 3933184 grab 20.3 14.6
0134 Jamie Chip 724711 3933074 0.5 10.05 1.1
0135 Jamie Chip 724702 3933122 1.3 8.98 2.3
0136 Jamie Grab 724687 3933133 grab 20.5 8.8
0137 Ringbolt Chip 723529 3932791 0.7 8.17 2.8
0144 Klondyke Mine Chip 723308 3933876 1 8.08 8.4
0145 Klondyke Mine Chip 723253 3933904 1 4.4 6.8
0158 N. Apex Grab 723358 3934378 grab 8.74 16.8
0159 N. Apex Chip 723375 3934353 0.6 14.35 24.3
0166 Epidote Chip 723898 3934822 1.5 4.85 1.6
0169 Epidote Chip 723953 3934911 0.9 3.65 2.3
0179 Red Gap (lower) Grab 722323 3935251 grab 4 20.8
0183 Red Gap (upper) Chip 722431 3935379 1.2 6.04 27.6
0185 Red Gap (upper) Chip 722486 3935384 1.6 8.91 22.3
0192 Cottonwood Rd. Chip 724157 3931474 0.5 6.26 2
0193 Cottonwood Rd. Grab 724074 3931541 grab 4.97 10.3
0194 Cottonwood Rd. Chip 724087 3931557 2.5 4.75 8.9
0195 Cottonwood Rd. Grab 724123 3931501 grab 34.1 57.4

Note: Chip sample widths were measured approximately perpendicular to strike of veining and represent approximate true widths, or, represent a portion of approximate true widths from wider zones that either constitute multiple samples or wider zones that could not be completely sampled due to exposure or physical limitations or scope of program. Also, the samples labelled as "grab" are selected samples and are not necessarily indicative of the mineralization hosted on the property. The Company plans to better determine the full width and extent of the mineralized zones in additional work programs.

The analytical results from the sampling program are summarized (gold-silver) below. A few general observations are presented and relate to the overall project area:

  • Table 1 (above) presents the samples containing in excess of 3 gpt Au (n= 61 or 32%).

  • Gold values for Phase 1 (192 samples) averaged 3.27 gpt Au and ranged between 5 ppb (Low Limit of Detection) and 78.1 gpt Au;

  • Silver values averaged 7.88 gpt with a maximum value of 115 gpt Ag;

  • the Gold - Silver ratio (Ag:Au) is 2.4;

  • Cu-Pb-Zn values are consistently low with an average combined value of 72.7 ppm; and

  • Arsenic values average 8.4 ppm and most Sb values as less than 2 ppm.

Aside from gold, other metal enrichment in the various vein styles is limited making the oxide, gold-rich material exceptionally clean.

M3 Metals continues to move forward with its Plan of Operation submitted to the Bureau of Land Management ("BLM") outlining the planned drilling program and corresponding Environmental Assessment work required to get permits for the disturbance of approximately 1,000 Acres. Field work is ongoing.

Quality Assurance / Quality Control (QAQC)

Robert Johansing, Economic Geologist, M.Sc., Q.P., has been responsible for all phases of sample collection, labelling, bagging and transport from the project to Reno, where the samples were analyzed by ALS labs of Reno, Nevada Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an atomic absorption spectroscopy (AAS) finish, over limit samples were determined by fire assay and gravimetric finish. Silver plus 34 other elements were determined by Aqua Regia ICP-AES, over limit samples were determined by ore grade Aquia Regia ICP-AES finish. Standard sample chain of custody procedures were employed during field work until delivery to the analytical facility.

Quality control of the sampling program includes insertion of reference standards and blanks. All sampling was done with a rock hammer and approximately 2 kg of broken, sized (<3cm) material was collected at each site. The results from the blanks and standards do not suggest any issues in the sample prep and analytical procedures.

Disclaimer

Robert Johansing, Economic Geologist, M.Sc., is a Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a Qualified Professional in good standing of Mining and Metallurgical Society of America (MMSA). Mr. Johansing has reviewed and approved the technical information disclosed above.

ABOUT M3 METALS CORP.

M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit the Company's website at www.m3metalscorp.com. You may also email info@m3metalscorp.com or call investor relations at (604) 669-2279.

M3 Metals Corp.

"Adrian Smith"

Adrian Smith
President

NEITHER THE 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.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55422

 
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