In This Article:
MacDonald Mines Exploration Ltd. (TSXV:BMK)(OTC PINK:MCDMF)("MacDonald Mines" or the "Company") is pleased to announce a drilling program that will begin in January 2025 on MacDonald Mines 100% owned SPJ Project, near Sudbury, Ontario.
The 2025 drilling program, planned in collaboration with Canuc Resources Corporation ("Canuc"), consists of approximately 800 m of drilling that will target the lenses of gold mineralization associated with the North Pit of the Scadding Gold Deposit located on the SPJ Project. In December of 2024 Canuc and MacDonald signed a letter of intent (the "LOI") whereby Canuc intends to acquire all of the issued and outstanding shares of MacDonald Mines.
The objective of the drilling program is to confirm the historically reported tenors for the gold mineralization zones of the North Pit area of the Scadding Gold Deposit (see press release of May 31, 2024) and to find extensions to the known zones of gold mineralization at depth.
The mineralized zones of the North Pit are being evaluated as potential source material for the Scadding Tailings reprocessing being undertaken by Environmental Tailings Corporation ("ETC"). An agreement between ETC and MacDonald for the reprocessing and reclamation of the Scadding Tailings was announced on November 15, 2022. This drilling program is intended to mark a first step towards the estimation of a mineral resource for the gold zones of the North Pit of the Scadding Gold Deposit.
Future exploration programs on the SPJ property will be designed to the test the potential of the McLaren Fault Zone to host significant zones of iron-rich copper-gold mineralization affiliated with iron oxide-copper-gold deposits in the Alwyn area. This follows from the encouraging results and the subsequent interpretations of the 2023 drilling program. Contingent on positive results from the drilling program, future exploration will also continue to test the zones of mineralization of the North Pit of the Scadding Gold Deposit in preparation of a mineral resource estimation.
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.
About MacDonald Mines Exploration Ltd.
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) SPJ Project. MIAC systems are known for hosting IOCG and affiliated deposits. The property is located 20 km southeast of the prolific Sudbury Mining Camp in Northern Ontario. The Company's primary exploration focuses are the polymetallic and iron-poor to possibly iron-rich Ag-Au-Cu-Co showings and prospects along the McLaren Lake Fault System that includes the Alwyn Cu-Au-(Ag-Co) trend and the Ashigami Co-Cu-Au showings, and the iron-rich to iron-poor Glade Au trend recognized to host Au mineralization comparable to the Scadding deposit. In addition, a potential for nickel, cobalt, copper, and platinum group elements in the Nipissing intrusions that are hosting the Candore, Jerome and Glade showings within the SPJ Project.