Returning to James Bay with Strength of Drilling Data and Increased Exploration Knowledge
MacDonald has painstakingly, with some setbacks, acquired what we now believe to be the necessary amount of exploration knowledge that will allow for the kind of success we strive for. Our exploration goal is delineating a Kid Creek-type of target. Kidd Creek is one of the world's largest Cu-Zn VMS deposits, and it is the Company's belief that success is near at hand for the following reasons:
Similar Geologic Setting to Kidd Creek
The Butler Property has similar geological conditions that existed for the formation of Kidd Creek-type mineralization. The Butler 3 geological sequence consists of a slightly overturned east-facing assemblage of predominantly felsic volcanic strata, underpinned by a thick sequence of mafic and ultramafic strata, and a major synvolcanic ultramafic intrusive complex. This is the same geological setting identified at the Kidd Creek deposit.
At Butler 3 (See figure 3), MacDonald has observed the following similarities to the Kidd Creek Deposit:
-- A large mafic/ultramafic sub volcanic heat source-- Submarine felsic volcaniclastic strata
Additional Characteristics of a Large VMS System Present
-- Intense hydrothermal alteration forming a "feeder" system to Zn-Cu-Ag mineralization: in particular, Mn-rich carbonate and an extensive zone of anthophyllite, cordierite-biotite-muscovite-staurolite alterations all increase in strength to the east-- A large copper-rich stringer system, overlain by multiple bands of stratiform Zn-Ag mineralization observed in the nearest drill hole, is remarkably similar in form to VMS deposits in both the Sturgeon Lake district and the Chisel Basin portion of the Snow Lake camp
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/bmk0109fig1.pdf.
The geophysical signatures are consistent with the mineralization already discovered on Butler 3 - with the exception that the footprint to the east and below hole BP12-11 (see figure 2) is much larger, including:
-- A gravity anomaly of greater size and density than drilled historically (see figure 1)-- The magnetic signature is consistent with that observed over the known mineralization at Butler 3-- EM conductors are coincident with the gravity anomaly
Cautionary statement: There is no certainty that further exploration will lead to the discovery or development of a mineral deposit the size or nature of Kidd Creek.
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/bmk0109fig2.pdf.
The next phase of drilling will focus on previously untested areas adjacent to the new discoveries made this fall. This area exhibits positive geophysical characteristics and corresponding geochemical vectors for major VMS mineralization to the east of the historic drilling.
MacDonald has mobilized a geophysical crew to conduct surface electromagnetics (Crone Geophysics) and detailed ground magnetics. This data is considered to be the final step in prioritizing our drill targets. The electromagnetic (EM) survey is designed to map any conductive features associated with the gravity anomaly east of our historic drill program.
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/bmk0109fig3.pdf.
Qualified Person
Quentin Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and will be responsible for overseeing all aspects of the Company's exploration programs.
About MacDonald Mines Exploration Ltd.
MacDonald Mines is a mineral exploration company with an established exploration history in the Canadian Northlands. MacDonald Mines has set upon a strategic direction of exploration with particular focus on copper, zinc, vanadium, nickel and titanium in the "Ring of Fire" area of the James Bay Lowlands of Northern Ontario. More detailed information about the Company is available on the website: www.macdonaldmines.com.
Cautionary Statement: The foregoing information may contain forward-looking statements relating to the future performance of MacDonald Mines Exploration Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from MacDonald Mines plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by MacDonald Mines with the TSX Venture Exchange and securities regulators. MacDonald Mines does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. We seek safe harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts:
MacDonald Mines Exploration Ltd.
Brent Nykoliation
Senior Vice President, Corporate Development
(416) 364-4986
(416) 364-2753 (FAX)
bnykoliation@macdonaldmines.com
MacDonald Mines Exploration Ltd.
Kirk McKinnon
President & CEO
(416) 364-4986
(416) 364-2753 (FAX)
kmckinnon@macdonaldmines.com
www.macdonaldmines.com
