MacDonald Mines Exploration logo

BMK - MacDonald Mines Exploration News Story

C$0.04 0.0  0.0%

Last Trade - 14/01/22

Basic Materials
Micro Cap
Market Cap £5.43m
Enterprise Value £5.18m
Revenue £n/a
Position in Universe 1985th / 2712

MacDonald Mines Announce Changes in Management: Provides Exploration Results and Plans for Continued Exploration of its SPJ Property

Thu 9th September, 2021 12:33pm
For best results when printing this announcement, please click on link below:

TORONTO, Sept. 09, 2021 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd.
(TSX-V: BMK, OTC: MCDMF) (“MacDonald Mines” or the “Company”)
announces that Mia Boiridy has left the organization, effective immediately.

Stuart Adair, CPA, CA, MA, BA, a member of the Board of Directors of MacDonald
Mines and Chair of its Audit Committee, has been designated as the Company’s
interim Chief Executive Officer effective September 8, 2021. Mr. Adair has
extensive financial and operating experience as a “C” suite executive and
will provide support, direction, and guidance to MacDonald Mines’ Management
during this transition.

MacDonald Mines priorities are to continue with our business plan, deliver on
our exploration models, and maintain a stable and effective organization. The
Board of Directors has commenced a search for a new CEO. We thank Mia for her
contributions and wish her success in her future endeavours.

MacDonald Mines also reports on results from its Summer 2021 mechanized
stripping, channel sampling and regional prospecting program at its 100% owned
SPJ Project, 30 km east of Sudbury, Ontario (Figure 1).

In the Glade area, channel sampling extended gold mineralization in the
Alkin-Glade trend over 225 metres along strike. Exploration work in the Glade
area also led to the discovery of a broad zone of anomalous gold in the
Espanola limestone 150 m below the mineralized Alkin-Glade corridor in hole
AG-21-097. Channel sampling at the Jerome showing indicates that the Nipissing
intrusion contains palladium-rich mineralization.

Figure 1 - SPJ Property

2021 exploration highlights include:

* New channel sample results confirming gold mineralization at the Glade West
showing   * 5.12 g/t gold over 3.40 metres including 17.10 g/t gold over 0.80
* Discovery of quartz veins with visible gold 100 metres west of the Glade
East showing and 125 metres east of the Glade West showing on trench
AGT-21-011   * Suggests that gold mineralization in the Alkin-Glade extends
between the Glade East and Glade West showings over 225 metres
* Identification of a broad zone of anomalous gold in the Espanola limestone
at the southern margin of the Nipissing diabase (Glade diabase) hosting the
Glade system 150 m below the Alkin-Glade trend   * Analysis of the Espanola
limestone below the southern contact of the Nipissing sill in hole AG-21-097
indicated 0.14 g/t gold over 31.50 metres
Rathbun block of the SPJ project
* Confirmation that palladium-rich mineralization exists in the Nipissing sill
at the Jerome showing in the Rathbun block of the SPJ property   * Channel
sample contains 2.97 g/t Pd, 0.42 g/t Pt and 0.24 g/t Au over 4 m (Cu and Ni
assays are pending)
Fall 2021 exploration plans

During the Fall of 2021, the Company plans to complete the channel sampling
and mapping program in the Glade and Alkin areas of the Alkin-Glade trend in
preparation for diamond drilling in the Alkin-Glade corridor. The first phase
of the drilling program will consist of a series of drill holes to test the
continuity of gold mineralization between the Glade East and Glade West
showings, separated by 225 m.

In parallel, the Company plans to prospect, sample and map the McLeod showing
where historic diamond drilling intersected significant gold mineralization.
The Company also plans to prospect and map gold-copper mineralization at the
historic Alwyn Mine and explore for additional palladium-rich mineralization
in the Nipissing sill hosting the Jerome showing,

Table 1 – Results of channel sampling along the northern contact of the
Glade diabase in the Alkin-Glade trend

 Channel sample  From    To      Length*   Gold    Structure          
                 (m)     (m)     (m)                                  
 AGT-21-004C     0.70    2.10    1.40      3.61    Alkin-Glade Trend  
 AGT-21-005A     No significant results            
 AGT-21-005B     No significant results            
 AGT-21-005C     0.70    4.10    3.40      5.12    
                 2.30    3.10    0.80      17.1    
 AGT-21-005D     1.30    2.10    0.80      0.71    
 AGT-21-005E     1.80    2.30    0.50      2.02    
 AGT-21-006A     2.00    2.80    0.80      0.14    
 AGT-21-006B     0.00    3.10    3.10      0.20    

*Assay results are presented over the apparent length of the channel samples.
Additional work is necessary to define the true width of the zone of

Table 2 - Results from diamond drilling and channel sampling along the
southern contact of the Glade diabase and the Espanola Limestone

 Drill hole      From    To (m)  Length*   Gold    Structure                        
                 (m)             (m)       (g/t)                                    
 AG-21-097       184.90  216.40  31.50     0.14    Espanola- Glade Diabase contact  
                 188.97  190.44  1.47      0.56    
 Channel sample  From    To (m)  Length*   Gold    
                 (m)             (m)       (g/t)   
 AGT-21-007A     0       1.00    1.00      0.27    
 AGT-21-007B     No significant results            

*Assay results are presented over core and channel sample length. As they
represent discoveries, additional work is necessary to estimate the true width
of the identified zones of mineralization.

Table 3 – Results from channel sampling at the Jerome showing

 Channel sample  From   To    Length*   Gold    Palladium   Platinum   Zone            
                 (m)    (m)   (m)       (g/t)   (g/t)       (g/t)                      
 RAT-21-001A     No significant results                                Jerome showing  
 RAT-21-001B     No significant results                                
 RAT-21-001C     0.00   4.00  4.00      0.24    2.97        0.42       
                 0.00   3.00  3.00      0.29    3.69        0.51       
 RAT-21-001D     2.00   4.00  2.00      0.25    2.93        0.42       

*Assay results are presented over core length. As they represent discoveries,
additional work is necessary to estimate the true width of the identified
zones of mineralization.

Table 4. Coordinates of the reported channel samples and drill hole

 ID           X       Y        Z      Azimuth  Dip  Length /    Type        
                                                    Depth (m)               
 AG-21-097    529054  5165626  292.5  145      -45  217.0       Drill hole  
 AGT-21-004C  529113  5165571  308.1  295      10   2.1         Channel     
 AGT-21-005A  529082  5165560  303.7  56       -8   2.1         Channel     
 AGT-21-005B  529076  5165552  304.8  30       -5   8.3         Channel     
 AGT-21-005C  529087  5165551  306.0  336      20   6.7         Channel     
 AGT-21-005D  529083  5165545  305.9  319      15   1.3         Channel     
 AGT-21-005E  529082  5165542  310.1  340      0    3.5         Channel     
 AGT-21-006A  529097  5165545  309.6  322      6    3.5         Channel     
 AGT-21-006B  529097  5165545  309.6  306      25   3.7         Channel     
 AGT-21-007A  529281  5165356  312.3  325      10   7.0         Channel     
 AGT-21-007B  529276  5165367  312.0  3        -22  3.5         Channel     
 AGT-21-007C  529279  5165369  313.4  358      -20  4.4         Channel     
 AGT-21-007D  529289  5165373  315.0  20       -25  3.0         Channel     
 AGT-21-007E  529288  5165369  309.0  8        0    1.8         Channel     
 AGT-21-011   TBP     TBP                                       Channel     
 AGT-21-007F  529295  5165362  310.3  300      -18  1.7         Channel     
 RAT-21-001A  526991  5173020  320.9  350      10   3.8         Channel     
 RAT-21-001B  526990  5173029  321.7  13       -8   2.7         Channel     
 RAT-21-001C  526981  5173029  323.7  4        -24  5.0         Channel     
 RAT-21-001D  526981  5173030  321.3  20       30   4.0         Channel     


The Alkin-Glade trend is located at the contact between a Nipissing intrusion
and sedimentary rocks. The structure hosts two significant zones of
mineralization - the historic Alkin Mine and the Glade showings. In the Glade
area, Ontario Geological Survey maps and historical exploration identified a
broad zone of disruption, alteration, deformation and mineralization that
extend over a strike length of 300 m. High-grade gold in quartz veins was
reported historically. Old exploration trenches, now overgrown with vegetation
are the only evidence of the 1930’s and 1940’s exploration work done at
Glade with gold mineralization still exposed at the Glade East and Glade West

The historical Alkin gold mine is located 2.2 km W-NW of the Glade showings.
At the Alkin mine, gold mineralization occurs as a network of quartz veins
hosted in the felsic phase of the Nipissing Diabase intrusion that also hosts
the Glade showings. Reconnaissance work by the Ontario Geological Survey
reported gold assays up to 38.8 g/t gold in grab samples taken from the veins
exposed at the Alkin Mine (OFR 5771). The reader is cautioned that grab
samples are selective by nature and do not represent the actual grade of the
targeted mineralization. In addition, the reader is cautioned that a qualified
person has not done sufficient work to validate the accuracy of the historical
results. The Company is not treating the historical estimates as current
mineral resources.

Diamond drilling under the Glade West Showing in holes AG-21-096 and AG-21-097
revealed a large alteration and mineralization system where shear-hosted
quartz veins are surrounded by networks of gold mineralized, multidirectional
and variably spaced quartz tension veins concentrated in the Nipissing
intrusion at its northern contact with the Bruce conglomerate. Diamond
drilling also identified that mineralization extends in the Espanola limestone
along the southern contact of the Nipissing diabase hosting the networks of
gold-bearing shear zones and quartz veins. Visible gold was observed in many
of the quartz veins in both holes AG-21-096 and AG-21-097, and in the channel
samples taken at Glade East. Surface work at the Glade East showing confirmed
comparable mineralization 225 m east of the Glade West discovery. Visible gold
is associated with iron-rich chlorite alteration emplaced and crosscutting the
quartz veins. This association between gold and iron-rich chlorite observed at
the Glade West is similar to the iron-chlorite and gold at the Scadding
Deposit. The observed relationship in mineralization could represent a
considerable extension of the mineralized system of over 800m.

Jerome Showing
The Jerome showing is located on the Rathbun block of the SPJ property. PGE
mineralization is hosted in an intrusion pertaining to the Nipissing sills
according to the Ontario Geological Survey maps of the area. PGE
mineralization is associated with disseminations of pyrrhotite, chalcopyrite
and magnetite in the Nipissing sills. The base metal results for the channel
samples taken by MacDonald Mines remain pending.

Qualified Person
Jean-François Montreuil, P.Geo., Chief Geologist of MacDonald Mines, is the
Qualified Person as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects, responsible for preparing, supervising, and
approving this news release’s scientific and technical content.

On-site Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples were transported in security sealed bags for analysis to
Actlabs in Ancaster, Ontario. Individual samples are labelled, placed in
plastic sample bags and sealed. Groups of samples are then placed into durable
rice bags and then shipped. The samples transported to Actlabs were dropped in
rice bags with security seals by Manitoulin Transport. The remaining coarse
reject portions of the samples remain in storage if further work or
verification is needed.

MacDonald Mines has implemented a quality-control program to comply with best
practices in the sampling and analysis of drill core. As part of its QA/QC
program, the Company inserts external gold standards (low to high grade) and
blanks every 20 samples in addition to random standards, blanks, and
duplicates. All samples over 10 g/t gold or the samples with abundant visible
gold are analyzed using a 1-kilogram metallic screen. Check assays are
routinely performed for samples with visible gold to ascertain the gold
content of the mineralization zone.

COVID-19 Precautions
MacDonald Mines has developed and implemented precautions and procedures that
are compliant with Ontario’s health guidelines. Strict protocols are in
place to ensure the safety of all staff, thereby reducing the potential for
community contact and spreading of the virus.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company
headquartered in Toronto, Ontario that trades on the TSX Venture Exchange
under the symbol “BMK”.  

The Company is focused on developing its 100%-owned SPJ Project in Northern
Ontario. Following up on its successful 2019/20 exploration and drilling
campaigns, MacDonald Mines is focused on what it theorizes to be a large gold
system at work on the 18,340 ha property with high-grade gold surrounding the
past-producing Scadding Gold Mine and gold/polymetallic mineralization over
several kilometres around it.

To learn more about MacDonald Mines, please visit

For more information, please contact:

Stuart Adair, CEO,
Fiona Fitzmaurice, CFO,

This News Release contains forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may”,
“should”, “expects”, “plans”, “anticipates”, “believes”,
“estimates”, “predicts”, “potential” or “continue” or the
negative of these terms or other comparable terminology. These statements are
only predictions and involve known and unknown risks, uncertainties and other
factors that may cause our or our industry’s actual results, levels of
activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information, which only applies as
of the date of this news release. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than as required
by law.

Figure 1 
Figure 1 - SPJ Property Overview

GlobeNewswire, Inc. 2021
© Stockopedia 2022, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.