News! More gold at Maclama prospect:
MacDonald Mines Exploration Ltd.
MMP.A ASE
March 20, 1997
Two New Gold Zones Discovered at Maclama Area, Cuba
TORONTO, March 20 /CNW/ - MacDonald Mines Exploration Ltd. (MMP A-ASE) announces an exciting new gold
discovery based on the results from exploration holes drilled on the Maclama gold prospect (located 8 kilometres
due west of the Golden Hill Au-Cu deposits).
Analytical results from 12 of 27 widely-spaced, cored, exploration drill holes have been received. These holes
tested several targets defined in a systematic exploration program that included a 100 line-kilometre cut grid,
geologic mapping, soil geochemistry, and ground geophysical surveys.
The first 7 holes (M-01 to M-07) tested a large horseshoe-shaped induced polarization anomaly, 800 metres in
diameter, centered on a diorite stock. Target IP-1 located on the east side of the anomaly returned an intercept in
hole M-03 of 4.88 g/t gold over 3.50 metres (0.14 oz/ton over 11.5 feet).
Target IP-2 located on the west side of the anomaly, hole M-05 intersected 0.80 g/t gold over 24.30 metres (0.02
oz/ton over 79.7 feet) and includes a 7.50 metre interval grading 1.22 g/t gold (0.036 oz/ton over 24.6 feet). The
target IP-2 is also located on an 800 metre-long linear northeast-striking gold-in-soil anomaly containing up to
3.54 g/t gold (0.10 oz/ton). This mineralization is hosted within a large pyrite+epidote+garnet skarn.
Drill holes M-08 to M-12 tested the Maclama Hill area. All five drill holes intersected gold mineralization;
including three intersections over wide widths. Hole M-11 returned 0.92 g/t gold over 53.96 metres (0.027 oz/ton
over 177 feet) and included 6.10 metres that averaged 2.97 g/t gold (0.087 oz/ton over 20 feet). The Maclama Hill
mineralization appears to be spatially related to the northeast-striking Mac Fault which has been traced for 2
kilometres along strike. The Mac Fault has a coincident gold-in-soil anomaly that is greater than 100 metres wide
and 1200 metres long. As previously reported, surface grab samples and chip samples of outcrop along the
anomaly, have yielded values up to 11.0 g/t gold and 100.0 g/t silver. The Maclama Hill target has currently been
drill tested on three parallel lines spaced 100 metres apart, and is open down dip and along strike at both ends.
Company management is very encouraged by these new discoveries and is planning additional holes. These will be
drilled once the current definition drilling program on the previously discovered oxide gold deposits at Golden Hill
has been completed. The two newly discovered Maclama gold zones are a very significant potential addition to the
at-surface heap-leachable reserves delineated at both the Florencia Sector deposit and at the large-tonnage
Golden Hill deposit. The potential to combine processing of the presently indicated resources at these three
nearby deposits indicate substantial economies of scale with attendent grade and production rate consequences.
Analytical results for the remaining holes completed at Maclama will be released as soon as they become
available.
Affiliate MacDonald Oil Exploration Ltd. (MACO-CDN) is currently conducting a 110 line kilometre seismic,
aeromagnetometer, gravity and soil geochemistry survey in its Block 22. The 9900 square kilometre oil
exploration concession is contiguous to MacDonald Mines' Florencia-Jobabo Region. MacDonald Mines and its
management hold approximately 20% of MacDonald Oil.
All interested parties are invited to a presentation of MacDonald Oil Exploration Ltd.'s results at 4:30 p.m. Tuesday
March 25, 1997 at the National Club, 303 Bay Street, Toronto.
All interested parties are invited to a presentation of MacDonald Mines Exploration Ltd.'s results at 4:30 p.m.
Tuesday April 1, 1997 at the National Club, 303 Bay Street, Toronto.
The ASE have neither approved nor disapproved the information contained herein.
For further information: Thomas A. Smeenk, Shareholder Relations, MacDonald Mines Exploration Ltd., Tel: (416)
865-1625, Fax: (416) 865-9386 |
