MacDonald Mines Completes First Phase of Drill Program at McNugget and Joint Venture Properties With Temex Resources and Hawk Uranium
Monday January 21, 8:00 am ET
TORONTO, ONTARIO--(Marketwire - Jan. 21, 2008) - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK - News; "MacDonald Mines" or the "Company") is pleased to announce the completion of its Fall 2007 drill program at the McNugget and Hornby Properties in the James Bay Lowlands.
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A total of twelve diamond drill holes, totaling 2,067 metres have been completed. The Company chose these targets from a large number of high quality airborne anomalies identified from the previous airborne survey. The Temx-Baltic JV Property with the exception of targets close to the Noront discovery await the results from the current airborne survey.
The following synopsis offers an analysis of each hole drilled.
The McNugget Property, which is 100% owned by the Company, accounted for 5 holes, totaling 634 metres. The MacDonald - Hawk Uranium joint venture property accounted for 5 holes totaling 1,089 meters while the Hornby Property (50% owned by MacDonald Mines in a joint venture with Temex) consisted of 2 holes totaling 344.metres.
Drilling on the 100% owned McNugget Property tested 5 separate targets.
Target N-1 (MacDonald-Temex) displayed a strong magnetic signature with a weak but coincident airborne EM response. Ground surveys confirmed this geophysical signature and drill hole MN07-46 tested the anomalous zone. It encountered peridotite throughout its 170 meter length. The magnetic response is caused by finely disseminated magnetite while the EM response is believed to be caused by very finely disseminated sulphides that carry elevated nickel values throughout its length. Assays are pending.
Target N-2 (MacDonald-Temex) displayed a weak to moderate isolated AEM response with a coincident magnetic response. Drill hole MN07-48 intersected gabbro throughout its length. The magnetic response was caused by disseminated magnetite while the EM response is believed to be caused by sulphide stringers seen from 24 to 63 meters. No assays of economic interest were returned.
Target N-30 (MacDonald-Hawk J.V.) displayed a series of weak to moderate AEM anomalies over a strike length of 900 meters that had a coincident magnetic anomaly associated with it. Drill hole MN07-49 encountered gabbro throughout its 213 meter length. Disseminated to massive magnetite over short intervals explained the magnetic anomaly while fracture filled sulphides accounted for the EM response. No assays of economic interest were obtained from extensive sampling.
Target N-32 was defined over a strike length of 2.4 kilometers displaying AEM anomalies that are ranked from weak to very strong. The EM responses are interpreted to be caused by massive sulphides. Hole MN07-47 intersected felsic volcanic rocks hosting massive sulphide from 68.4 to 70.5 meters and stringer sulphides from 70.5 to 84.6 meters. Complete assay results are pending.
Target N-34 appeared to be on the same stratigraphic horizon as Target N-30. It displayed a weak AEM response with a coincident magnetic anomaly. Hole MN07-50 intersected gabbro and anorthosite along with felsic intrusive rocks. Massive magnetite was intersected over widths varying from 0.4 to 2.6 meters within the gabbro and anorthosite. Sulphides occupying fractures explains the EM response. There were no assays of economic interest returned.
Target N-23 was defined over a strike length of 2.0 km with individual EM anomalies ranging from weak to very strong. Gabbro was encountered through the length of Hole MN07-52. Assays are pending.
Target N-25 was tested with three drill holes. The target is defined over a strike length of 1000 meters with AEM responses varying from weak to strong. Hole MN07-39 that intersected 0.36% Ni over 4.5 meters and 0.26% Ni over 27.0 meters previously tested this anomaly. Holes MN07-51 and 53 (MacDonald-Hawk J.V.) tested a strong ground EM response and intersected a sequence of gabbro and granite. However, the EM anomaly was not explained by either hole and further study is required. Assays are pending. Hole MN07-54 (MacDonald-Hawk J.V.) tested the anomaly a further 100 meters to the NE but again the EM anomaly is not adequately explained. Assays are pending.
Hole MN07-55 (MacDonald-Hawk J.V.) tested target N-26 which exhibits a strong AEM response with a coincident magnetic anomaly. The hole intersected gabbro and minor granite throughout its length. Disseminated magnetite was encountered over significant core widths. Sulphide stringers explain the EM response. Assays are pending.
Holes H-07-01 and 02 tested EM anomalies on the Hornby Property that is located approximately 6 km to the east from the Noront discovery. Ground EM surveys defined a strong response with a coincident magnetic anomaly. The hole intersected banded to semi-massive to massive sulphides mostly in the form of pyrite and pyrrhotite over approximately 15 meters, hosted by metasediments. Assays are pending.
Hole H-07-02 tested an EM anomaly further to the east of H07-01 which also displayed a moderate magnetic anomaly. The hole intersected tuff and chert throughout its length. Sulphide bands of pyrite and pyrrhotite were reported over a 20 meter interval of tuff. Assays are pending.
The Company is eagerly anticipating the remainder of the laboratory results so that it can complete its geological analysis and begin field work in preparation for the next drill campaign at the McNugget and its other joint venture properties which will commence in the first quarter of 2008. Once the Company has received the final assay results from the 2007 program, they will be published.
Kirk McKinnon, President and CEO of MacDonald Mines, commented:
"The drill results to date are encouraging and we continue to intersect mineralization in most of the holes, confirming our belief that the Company is exploring in a highly mineralized belt."
"We are very pleased to announce that a major drill program on MacDonald and Joint Venture ground with Temex Resources, Baltic Resources and Hawk Uranium will commence in February. We will be moving a second drill into the area in early March and anticipate that MacDonald Mines along with 5 or 6 other companies will be fully engaged in winter/spring drill programs."
"We anticipate that the current airborne survey will produce multiple geophysical targets on both the MacDonald Mines and Joint Venture ground. Equally important to note, MacDonald Mines still has very good targets on the McNugget, Big Mac and the Joint Venture Property with Hawk Uranium that were identified from its previous airborne survey and still must be drill tested."
"Our airborne geophysical surveying, after some initial delays, is now utilizing three helicopter-borne systems, two from Fugro and one from GeoTech, in order to make up for lost time in the latter part of 2007. This data is currently being processed and we are confident that we will have a significant number of high priority targets to do follow-up work. Immediately after the receipt of the remaining analysis of core samples, Bill Nielsen P.Geo., Director will prioritize the geophysical targets. This will be followed by line cutting of control grids and ground geophysics with testing of priority targets by diamond drilling following immediately thereafter."
"It should be noted as well, that the total area is being blanketed by airborne geophysical surveys that will fly, in our estimation, in excess of 60,000 line kilometres. Equally important is the fact that these surveys will all be flown at 100 meter spacings and consequently, the data will be excellent and target selections will be generated from very high quality information."
"We continue to look to Noront's success and anticipate that MacDonald Mines and the many other companies exploring in the area will encounter drilling success to augment Noront's very significant nickel/precious metal discovery. In my view, the next six months will be very telling as I would estimate in the excess of 70 drill holes from all companies involved will explore their most promising targets."
Core samples have been sent to, and assays will be completed by ALS Chemex in Thunder Bay. Reference standards and blanks were inserted into the sample streams as part of a QA/QC program to ensure accurate results.
For an updated claim map of all mining and exploration activity in the James Bay Lowlands as provided by Intierra Mapping, please visit our website at www.macdonaldmines.com and click on the thumbnail "January 2008 McFauld's Lake Claim Map".
This news release has been prepared under the supervision of Bill Nielsen, P.Geo., Director, who is the designated qualified person for the technical information contained in this press release.
Field exploration is managed by Randall Salo, P.Geo., in consultation with Bruce Durham, P.Geo. of Temex Resources Corp. as it pertains to the MacDonald Mines-Temex Joint Venture Property.
WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
Brent Nykoliation
MacDonald Mines Exploration Ltd.
Director, Business Development
1-800-818-5442 or (416) 364-4986
J. A. Kirk McKinnon
MacDonald Mines Exploration Ltd.
President and CEO
1-800-818-5442 or (416) 364-4986
Richard Schler
MacDonald Mines Exploration Ltd.
Vice President & CFO
1-800-818-5442 or (416) 364-4986
(416) 364-2753 (FAX)
Email: info@macdonaldmines.com
Website: www.macdonaldmines.com
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Source: MacDonald Mines Exploration Ltd.
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