NEWSMacDonald Mines starts 2,000 m drilling at McNugget
MacDonald Mines Exploration Ltd (2) (C:BMK)
Shares Issued 111,261,025
Last Close 11/12/2007 $0.92
Tuesday November 13 2007 - News Release
Mr. J.A. Kirk McKinnon reports
MACDONALD MINES COMMENCES DIAMOND DRILLING OF MCNUGGET NICKEL PROPERTY; SENIOR MANAGEMENT TEAM PRESENTS TO FIRST NATIONS COMMUNITY OF WEBEQUIE
MacDonald Mines Exploration Ltd. has commenced a diamond drill program on its McNugget nickel-VMS property in the James Bay Lowlands of Northern Ontario.
The McNugget property consists of 74 claim blocks, covering an area of approximately 13,000 hectares. It is located in the Webequie region, which is approximately 300 kilometres west of James Bay.
The current drill program will consist of 10 to 15 holes totalling approximately 2,000 metres and will focus initially on at least seven of the identified targets on the McNugget property.
Previous airborne surveys by other parties on the newly acquired MacDonald/Temex ground, in the vicinity of the Noront nickel discovery area, display similar signatures to the newly found Noront nickel deposit. Ground geophysical work and subsequent diamond drilling are scheduled to take place in this area prior to Christmas.
Drilling is being conducted by Cartwright Drilling, which has carried out all previous drilling for the company in the James Bay Lowlands. Bill Nielsen, PGeo, director, is overseeing the overall exploration program on behalf of MacDonald Mines and its joint venture partners, Temex Resources Corp. and Baltic Resources Inc.
Field exploration is being managed by Randy Salo, PGeo, in consultation with Bruce Durham, PGeo, of Temex Resources, and Hadyn Butler, PGeo, a director of the company.
Previous MacDonald 2007 exploration results including intersection of nickel mineralization
Nickel sulphide discoveries on the McNugget property (see press release in Stockwatch dated June 14, 2007) include hole MN-07-39, which intersected 4.5 metres grading 0.36 per cent Ni and a further 22.5 metres down the hole an intersection of 27 metres averaging 0.26 per cent Ni), and hole MN-07-40, which intersected at three metres averaging 0.17 per cent Ni and 0.23 per cent copper.
MacDonald Mines senior management team holds town hall meeting with first nations community of Webequie
With over 300 band members in attendance, the senior management team conducted an extensive communications briefing followed by a question and answer session with the first nations community of Webequie on Nov. 8, 2007.
MacDonald Mines and the first nations community continue to have a uniquely positive business partnership that is underpinned by the company's business philosophy -- respect for the community, investment in the community and environmental responsibility.
The company continues to operate its base camp out of Webequie, which is a 15-minute flight from the McNugget property. This is now the seventh program the company has conducted using the community of Webequie as a base camp. The community provides both infrastructure and personnel to support the exploration programs. Once again, the company would like to take this opportunity to thank Chief Scott Jacob and the band community for their continued support and assistance.
Administration
The board of directors of the company granted 550,000 stock options on Nov. 13, 2007, to directors, officers and consultants of the company under the terms of the incentive stock option plan of the company filed with the TSX Venture Exchange and approved by shareholders at the last annual general meeting of shareholders of the company held on June 12, 2007. The options are exercisable at a price of 92 cents per share for a period of four years and are subject to a four-month hold period from the date of the issuance thereof.
Bill Nielsen, PGeo, director, is the designated qualified person for the technical information contained in this press release.
© 2007 Canjex Publishing Ltd.