MacDonald Mines Exploration (BMK) has made a high-grade gold discovery in its winter 2021 drilling program at the SPJ Project near Sudbury, Ontario.
The drilling was completed in the Alkin-Glade trend of the project, which has historically reported high-grade gold in quartz veins.
The new high-grade discovery was made in the Glade area, identified in the 1930s and 1940s, and revealed 5.17 g/t gold over 22.67 m, including 113 g/t gold over 0.96 m in one hole and visible gold in two others.
The company also completed 11 drill holes in the Jovan area of the property, confirming sulphide and iron-oxide mineralization that was detected by a previous IP survey. Two of the holes intersected anomalous gold in mineralized structures.
Drill core samples have been sent to Actlabs in Ancaster, Ontario for further analysis.
Mia Boiridy, president and CEO of MacDonald Mines, commented,
“The results at Glade are exciting. [. . .] We will immediately follow up on this discovery and look to extend the high-grade gold mineralization along the 2.3 km trend between the Glade showings and the historical Alkin mine.”
“We are equally pleased to report that the drill results from Jovan have confirmed and extended the Palkovits Gold Structure and intersected high-grade silver. While Glade is showing a potential extension of the high-grade gold mineralized system of the Scadding area, the Jovan results confirm our theory that a much larger gold/polymetallic system is at work on our large SPJ Project,” she added.
MacDonald Mines is a Canadian mineral exploration company headquartered in Toronto.
MacDonald Mines Exploration Ltd. (BMK) is steady, trading at $0.06 per share as of 3:10 pm ET.