MacDonald Mines Exploration Ltd V.BMK

NEWS . Beauty Update For The No Gold Naysayers

[Goldy63]

MacDonald Mines Files NI 43-101 Technical Report for its SPJ Gold Project and Provides Update on its Ongoing Drilling and Exploration Program

V.BMK | 15 hours ago

TORONTO, Oct. 18, 2019 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSX-V: BMK) (“MacDonald Mines”, “MacDonald” or the “Company”) announces that it has filed on SEDAR a National Instrument 43-101 (“NI 43-101”) technical report for the SPJ Gold Project, 40 kilometres east of Sudbury, Ontario. The report highlights recent high-grade gold results from the ongoing drill program and outlines recommended exploration work going forward. New programs and further results will be announced as they are finalized or received.

Quentin Yarie, MacDonald’s President and CEO commented: “The technical report for the SPJ Project includes the recent high-grade gold discoveries made in our on-going drill program there and details the potential for further gold mineralization on the whole SPJ property. The report also illustrates how we have been able to capitalize on past drilling and data to discover new gold mineralization with a goal to transition back into an operating mine”.

Summary of the NI 43-101 Technical Report:

To date, MacDonald Mines’ fall 2019 drill program has confirmed the presence of high-grade gold in the North Zone of the Scadding Deposit (Table 1). Past explorers did not understand the structures that control mineralization there. The Company’s re-interpretation of the Scadding Deposit as an Iron-Oxide-Copper-Gold Deposit can expand the mineralized zones of the deposit.

Gold was first discovered in the Wahnapitae Gold Region in the late 1800s. The Scadding Mine, located on the SPJ property, was discovered in 1973. Three small pits were mined in 1984 and a spiral ramp was constructed for mining from 1987 to 1988. Production at Scadding totalled 140,000 t gold at 7.22 g/t (Gates, 1991). Historical drill results also indicate that high-grade gold mineralization occurs in areas that have not been mined.

The primary objective of MacDonald Mines’ current exploration program is to demonstrate that a sizeable deposit exists on the SPJ Project. The program will be realized in 2 phases:

Phase 1 - Understand the attributes of the Scadding Deposit’s high-grade gold mineralization

• Evaluate drilling completed in the North and Central Zones of the Scadding Deposit.
• Continue the 2019 drilling program to explore the extension of the high-grade gold zones of the South, E-W and newly discovered zones of the Scadding Deposit.
• Expand the prospecting program to cover areas surrounding the Scadding Deposit.
• Continue a trenching program to mechanically strip areas where the Company’s recent compilation of historic data, uncovered potential zones of chlorite and magnetite alteration that were never drilled before. These zones, located outside the known footprint of the Scadding Deposit, have the potential to expand the mineralized zone.

Phase 2 – Find/expand the high-grade gold mineralization in the Scadding Deposit

• Conduct a geophysical survey that is optimized to detect mineral assemblages associated with polymetallic gold mineralization in the Scadding Deposit and in other prospective areas of the Project.
• Initiate an exploration drilling program to extend the 5 zones of the Deposit and the potential discoveries identified with the geophysical survey and geological modelling.

Table 1. Assay Highlights from holes reported to date

Drill Hole ID		From (m)	To (m)	From (m)	To (m)	Length (m)*	Gold (g/t)
SM-19-001		8.6	15.9			7.3	11.12
		Including		14.9	15.9	1	77.16
		25.2	30.7			5.5	5.73
		Including		27.3	28.8	1.5	17.17
		37.8	50.1			12.3	52.02
		Including		45.9	49.9	3	210.23
SM-19-002		20.2	27.83			7.63	8.56
		Including		23	27.21	4.21	14.04
		32.34	47.63			15.29	3.21
		Including		37	37.93	0.93	13.44
		Including		43.15	44.02	0.87	23.15
SM-19-003		27.88	34.02			6.14	11.1
		Including		27.88	30.55	2.67	11.39
		Including		31.42	33	1.58	23.32
		127.07	128.87			1.8	3.29
SM-19-004		11.2	14.2			3	5.15
		Including		11.2	13.2	2	7.4
		73.75	75.12			1.37	3.03
		82.77	84.75			1.98	9.02
		Including		83.91	84.75	0.84	20.38

* Assays results presented over core length and are estimated to represent between 65 and 85% true width. Additional drilling is necessary to define the geometry of the intersected zones of gold mineralization.

Table 2. SPJ Project drill hole information

Drill Hole ID	Collar location			Hole Attributes
	X	Y	Z	Length	Az	Dip
SM-19-001	529164	5166689	304.0	96	280	-84
SM-19-002	529181	5166726	305.5	105	245	-49
SM-19-003	529131	5166654	312.4	149	245	-48
SM-19-004	529224	5166681	309.6	134	250	-52

Figure 1. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c33fd92-5c5a-4053-8448-043904e0670a

Figure 2. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/66543a37-ea3e-4064-9b4d-ed587c4b4574

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

Drill core samples were transported in security-sealed bags for analyses to Bureau Veritas. in Timmins, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.

MacDonald 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, MacDonald 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 analysed by 1 kilogram metallic screen.

Qualified Person
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

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 recently acquired the high-grade past-producing Scadding Gold Mine and is focused on developing its large SPJ Project in Northern Ontario.

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, [phone], [e-mail]

Or Mia Boiridy, Investor Relations, [phone], [e-mail]

Read more at https://stockhouse.com/news/press-releases/2019/10/18/macdonald-mines-files-ni-43-101-technical-report-for-its-spj-gold-project-and#ZWfpeCsMlzOR7KSX.99

[serisab]

is it good or not ? maybe we will got result from others hole next week ?

[givemeabreak1]

The information in the report is for the most part just taken from other reports.  That said,  it was nice to see it done in a very clean professional manner following 43-101 format.   Well done gives a higher level of confidence to management.   

[Goldy63]

If you dont know if it,s good or not what are you doing here ? . If you dont understand the info in front of your eyes I suggest you buy RRSP,S or GIC,S or TFSA,S . News next week on hole #5 and maybe more holes is a good bet if you look at the time lines between Nr,s and results . Good luck with your investments . JMO. Cheers . 

[givemeabreak1]

Your are talking stupid again Goldy! Buying of TFSA's is a bad thing?  If you like something you buy it in your TFSA fool.  My wife and I both have a TFSA combined now over 1/4 million which I use to trade!   Are you really that stupid?

[givemeabreak1]

Goldy  As for your other stupid statement putting it in an RRSP and that is a bad thing too lol?  If you have a job you put your money in an RRSP self directed ie you trade in the account fool.  If you earn a good income your tax refund from putting it into the RRSP is then put in your TFSP which you trade in.  Remaining income to your cash or margin account which you trade in!

[Goldy63]

I was not talking to you so you must be lonely  but hey I,m well aware of what I can trade and from what account and what is taxable and when . As for Mac D , I was happy to earn my own money working for them and Harvey,s when I was 16 years old as I learned the value of a $ . Oh you talk the big money talk and here you are bashing away looking for cheap shares on a stock sp worth 17 cents .?

[givemeabreak1]

Goldy Does not matter who you were talking to?  You were talking like a fool.

[StoneMan45]

Goldy63 you do seem to be confusing with the statement that " If you don't understand the info in front of your eyes I suggest you buy RRSP's or GIC's or TFSA's " only the GIC's would kinda fit with what you are trying to say as they would be a form of investment that would in a most likely sense exclude BMK as part of it's make-up. As for RRSP's you can

[Goldy63]

Personnely Stoneman  I prefer to trade from my I trade platform while holding a core position in my TFSA  so no penalties are incurred till I sell (TFSA) so why I prefer the long game  . My point was some forms of investments are less risky but at the same time pay a lot less then you could get with a good stock and sp upswing . Of course the same could be said when it comes to

[StoneMan45]

there are no penalties period with TFSA which is why I like them. If you sell and gain in a TFSA no taxes . If you withdraw from a TFSA ..no taxes and you get to add the $ amount of the withdrawl to allowable contributions the year after you withdrew. TFSA is the best way to trade. 

[Goldy63]

To each his own . Here,s to making money for whatever our futures hold . Cheers . 

[TruthBKnown]

Why don’t you guys message each other ith this discussion?  And keep the board to BMK discussion.

[givemeabreak1]

Maybe Cause the conversation is like talking to Donald Trump.  Goldy has not got a clue what he is talking about until someone points it out then he tries to walk it back.  The only difference is hopefully goldy is not too old to learn from his mistakes.  Another sort of foolish thing Mr Gold using a chartered accountant to manage money WTF?  Have not met one that understands

[Abundance]

givemeabreak, why don't you do us all a favour and giveusallabreak and stfu already. You sound like a know it all belittling little pr ick with a big ego. Please don't reply to me as I do not engage in arguements with stupid people as they will only try to drag you down to their level and beat you with experience.  Have a nice evening everyone. GLTA 

[aikichief]

The point was brought up earlier..board has turned into a crapload of people playing keyboard warriors....let everone have thier opinion  then use the ignore button if that works for you. I am guessing most are looking for updates and such....not bashers or pumpers...relax...