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MacDonald Mines Receives Assay Results from its Jovan Exploration Program05.09.2018 | 12:00 Uhr | GlobeNewswire
TORONTO, Sept. 05, 2018 - MacDonald Mines Exploration Ltd. (TSX-V: BMK) ("MacDonald Mines" or the "Company") has received assay results from 24 grab samples taken on its Jovan Property, located near Sudbury, Ontario. The sampling was conducted to validate the metal content of the known showings on the property and to test the surrounding geology. Highlights:
Table 1 – Highlights of grab sample* assays at the Jovan Property
*The reader is cautioned that grab samples are selective by nature and do not represent the true metal content of the mineralized zone. The AuEq grade was calculated using metal prices from the London Metal Exchange on August 29th, 2018 - cobalt $64,500 US/tonne, copper $6118 US/tonne, gold $1208.3 US/oz, nickel $13460 US/tonne and silver $14.88 US/oz. Geology of the Jovan Property Across the Jovan Property, the available geological data indicates that the potential corridors of mineralization are characterized by the presence of albitites with variable amounts of structural deformation and brecciation. Mineralization appears to be typically hosted in disseminated sulfides and sulfarsenides within quartz, iron carbonate and chlorite in brecciated albitites. The characteristic attributes of the mineralized zones of the Jovan Property are similar to the mineralization zones at the historic Norstar Mine (57,150 tonnes @ 7.2 g/t gold and 0.9% copper), located approximately 525 metres north of Macdonald Mines’ Jovan Property. The rich gold mineralization at the Norstar Mine is also hosted in brecciated albitites with chalcopyrite and arsenopyrite. The reader is cautioned that the mineralization observed in the Norstar Mine may not be representative of the mineralization present on MacDonald’s Jovan Property. MacDonald Mines is earning a 100% interest in the Jovan Property. Under the terms of the option agreement, the Company is earning the 100% interest over a three-year period by making cash payments of $140,000, issuing commons shares valued at $80,000 and incurring exploration expenditures on the Jovan Property of $400,000 over the option period. Update on the Wawa Holdsworth Project Oxide Sands update at the Wawa-Holdsworth Project Sage Gold Property Until a resolution is issued on the standing of these grounds, MacDonald Mines will cease all exploration in this area. The planned drilling and trenching programs have been cancelled and the Company’s focus will now be directed to its newly optioned and staked grounds east of Sudbury, Ontario – the Jovan and Powerline Properties. On-site Quality Assurance/Quality Control (“QA/QC”) Measures Qualified Person 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 has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. 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, qyarie@macdonaldmines.com Or Mia Boiridy, Investor Relations, (416) 364-4986, mboiridy@macdonaldmines.com Cautionary 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. Dieser Artikel stammt von Rohstoff-Welt.de
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