Magnum Goldcorp begins 2017 exploration at LH
Magnum Goldcorp begins 2017 exploration at LH 2017-09-26 15:13 ET - News Release Mr. Douglas Mason reports MAGNUM GOLDCORP COMMENCES 2017 EXPLORATION PROGRAM ON ITS LH GOLD EXPLORATION PROPERTY, B.C. Magnum Goldcorp Inc. is commencing an exploration program on its LH gold exploration property. The LH property consists of 19 contiguous Crown-granted claims and six mineral claims located approximately seven kilometres south of Silverton, B.C., on the east side of Slocan Lake. For the 2017 exploration program, the company has proposed a two-phase program in the upper Fingland Creek basin. Phase I comprises a ground geophysical survey over the LH underground workings to delineate pyrrhotite-hosted, high-grade gold mineralization previously identified in the LH underground workings. Phase II comprises a small diamond drill program to further evaluate subsurface, high-grade gold mineralization previously identified, associated with the underground workings of the LH mine (see the company's news release dated Aug. 18, 2015, providing all of the results from the company's 2015 drill program, including high-grade gold intercepts of 16.9 metres of 13.58 grams per tonne gold, including 10.9 metres of 20.61 grams per tonne gold and 11 metres of 20.66 grams per tonne gold). The company is expecting receipt of an approved Mines Act permit for the proposed drill program on or about Oct. 7, 2017. The company has applied for a two-year permit to facilitate flexibility in planning its program. Data from the phase 1 program will be acquired along a series of north-south-oriented survey lines straddling the surface projection of the LH underground workings. Line spacing is expected to be approximately 25 metres so as to provide high-resolution definition of the vein system. The survey will extend east approximately 500 metres along strike from Fingland Creek (along which an interpreted fault is interpreted to truncate and/or offset the vein system). Upon receipt of the approved Mines Act permit, the phase II program will commence with mobilization of a crew to build the first of two pads proposed north of the LH underground workings. Approximately 1,000 metres of BTW drilling is proposed in a series of relatively short holes (less than 100 metres to 150 metres) to: (1) confirm one (or more) pyrrhotite-hosted, high-grade vein(s) identified in the company's 2015 drill program; (2) confirm the estimated true width of the vein(s); and (3) attempt preliminary delineation of the mineralized zone with which to prepare an initial resource estimate. In contrast to the 2015 drill program, the proposed drill holes are expected to be oriented at a high angle to the vein system, allowing more confident determination of the true width of the vein(s). The vein system is interpreted to strike essentially east-west and dip steeply to the north. Subsurface drill hole intercepts correlate well with historical mineralized samples reported from mineralization exposed in level 1 and are interpreted to define a vein system which extends to depth just south of level 3 (the lowest level of development in the LH underground workings). The 2017 program is expected to better define the vein system, both along strike and to depth. This news release has been reviewed and approved by Rick Walker, PGeo, who is acting as the company's qualified person for the LH property project, in accordance with regulations under National Instrument 43-101. We seek Safe Harbor. 2017 Canjex Publishing Ltd. All rights reserved