Sector NewswireTM Sector: Mining - Metals and Minerals :
News Release - September 22, 2017 04:10 PM ET
MacDonald Mines Commences Sonic Drill Program of Oxide Sands at its Wawa-Holdsworth Gold Project
NEW YORK, NY, September 22, 2017 /Sector Newswire/ - MacDonald Mines Exploration Ltd. (TSX-V: BMK) (US Listing: MCDMF) (Frankfurt: 3M72) this week announced that it has initiated an approximate 2000 metres sonic drilling program of the Oxide Sands at its Wawa-Holdsworth Gold Project, located 20 km northeast of Wawa, Ontario. The announced drill program will build off the robust findings of the 2017 Bulk Sampling program which affirmed a high value deposit at its Wawa-Holdsworth Gold-Silver Project; e.g. An initial bulk composite sample of the Oxide Sands composed of 4 different locations returned 0.15 g/t platinum, and 0.36 g/t palladium, in addition to the average grade of 5.45 g/t gold. 2 kg oxide sand samples contain up to 59.8 g/t silver. The gold-bearing oxide sand zones now being quantified offer a potentially quick road to production (e.g. 3.45 g/t gold and 29.99 g/t silver ave. grade from a composite of 23 panels by past operator), current trenching and sampling program returned up to 6.45 g/t gold (TR775-0), up to 52.7g/t silver (TR750-6). An EM Max-Min survey confirmed that the sands extend at least 1.8km along strike and reach depths beyond 8m.
Immediately below (to the right) is a link to an interview from Jay Taylor of Hard Money Advisors Inc. with the CEO of MacDonald Mines, Quentin Yarie, at the recent Metals Investment Forum about the opportunity and developments within the Company. In the interview the CEO discusses the potential of the Oxide Sands it intends to mine; "If our calculations are right, we are looking at the ability to generate north of $100 million in revenue in a very short period of time." The Company intends on using the proceeds of mining the Oxide Sands to advance the bigger precious metal picture on the property without shareholder dilution. Important to note is that the Company only has ~70M shares (post aforementioned PP) outstanding, and does NOT appear to require funds to take the project to large-scale aggregate mining of the Oxide Sands.
Excerpt of MacDonald Mines September 20, 2017 news release:
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Excerpt of MacDonald Mines August 30, 2017 news release:
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The following additional research links have been identified for further
DD on MacDonald Mines Exploration Ltd.: Q2-2017 interview with Analyst Jay Taylor of Hard Money Advisors: https://www.youtube.com/watch?v=J2jrtYe3jzo
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SOURCE: Sector Newswire editorial
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