MacDonald Mines Exploration Ltd. - Announcement
Toronto, Ontario--
At the request of the Canadian Venture Exchange and in support
and clarification of its News Release of February 25,2000,
MacDonald Mines Exploration Ltd. (CDNX - MMP.A) reports that it
is continuing the compilation of all data derived from previous
exploration work on the Casson Lake property. The company
retained independent consulting geologist G.A. Harron, P.Eng.,
P.Geo. to prepare the following clarification. This 37 claim unit
property is located in the east central part of Curtin Township
near Whitefish Falls, approximately 72 km distant from the
smelters at Sudbury, Ontario.
Intermittent prospecting and mining activities were conducted in
the area from 1848 to the present. From 1910 to the 1970's the
main focus was on gold with the discovery of the Bousquet Gold
Mine. Underground mining between 1936 to 1938 extracted 17,129
tons of ore at an average grade of 9.2 g/t Au.
In 1973 Curtin Mines discovered low grade Cu, Ni, and PGE
mineralization in the Nipissing Gabbro west of the Bousquet Mine.
Mattagami Lake Mines optioned the claims and conducted
geophysical surveys, geological mapping, and 19 diamond drill
holes. During 1979 - 80, Curtin Mines completed 10 diamond drill
holes totaling 2,549 feet. Both programs focussed on the gold
mineralization potential.
During 1987-89, BP Resources Canada Ltd. conducted exploration
programs including magnetic, EM, and IP surveys, geological
mapping, prospecting and 13 diamond drill holes totalling 1,982
m.
From 1989 to 1999, the prior claim-holders conducted geological
mapping, prospecting, power stripping, grab and channel sampling,
limited soil sampling, limited ground geophysical surveys, and 3
diamond drill holes. Falconbridge Ltd. and Lac Minerals Inc.
conducted site visits in 1973 and 1992 respectively.
PGE and / or gold mineralization is found in a linear gabbroic
intrusion which traverses the property. Previous operators have
identified 12 mineralized areas along a 5 km strike length by
trenching and diamond drilling. In the BP-1 area, Falconbridge
Ltd. (1973), received assays of 0.79% Cu, 0.27% Ni, 0.55 g/t Pt,
2.06 g/t Pd, 0.48 g/t Au and 3.09 g/t Ag from a composite sample
derived from 10 test pits. Drilling by the property owners in
1999, returned values of 503 ppb Pt, 1112 ppb Pd and 453 ppb Au
over 0.96 m. It is also alleged that BP Resources obtained an
assay of about 12 g/t Pt+Pd over an unspecified core length at
this site in 1989.
In the southeastern part of the property, 3.8 km to the east
along the same gabbroic intrusion, at location AN-2, a 6-7 m wide
zone of disseminated chalcopyrite and pyrrhotite displaying "net
texture" has been traced for 225 m. Sampling by Lac Minerals in
1992 yielded the following results.
Sample Type Pt (ppb) Pd (ppb) Au (ppb) Ni (ppm) Cu (ppm)
grab 440 825 327 2220 5200
grab 340 805 226 1580 2880
grab 330 810 216 1240 2040
2.6 m channel 260 580 171 382 1270
About 300 m east of the AN 2, at the TR-4 site, values of 534 ppb
Pt, 2226 ppb Pd, and 781 ppb Au were obtained by the claim owners
from a grab sample hosted by anorthositic gabbro.
Approximately 350 m to the west of the AN-2 site is the AN-3
area, where pegmatoidal gabbro contains a chromite-rich layer
containing values of 3400 ppb Pt, 4507 ppb Pd, 978 ppb Au, 0.46%
Cu, 0.17% Ni and 0.52% Cr from a 0.5 m channel sample collected
by the property owners. Lac Minerals reported values of 3910 ppb
Pd, 1140 ppb Pt, 442 ppb Au, 3460 ppm Cu and 1240 ppm Ni from a
grab sample of the same material. A nearby 4.1 m long channel
sample collected by the property owners returned values of 465
ppb Pt, 1044 ppb Pd, 421 ppb Au, 1620 ppm Cu, 1254 ppm Ni and
2744 ppm Cr over the 4.1 m. Five grab samples collected by the
property owners in the vicinity of the trenches returned the
following values:
Sample Type Pt (ppb) Pd (ppb) Au (ppb) Cu (ppm) Ni (ppm)
grab 234 550 193 1708 1356
grab 173 423 74 1240 664
grab 545 1309 264 2872 2360
grab 924 2162 793 2388 1584
grab 591 1236 958 2620 1236
The Pt:Pd ratio is generally 1:3.5 in the above samples along
with low values of Cu and Ni. The analytical method used for the
analyses was a fire assay concentration followed by an ICP-AES
finish, except for the Falconbridge samples, which were assayed
by their own personel. There is no historical analytical data
available for rhenium, rhodium, ruthenium, iridium and osmium
contents of the samples collected from this property.
Significant gold values have been found at 4 locations on the
property. Generally gold occurs with sulphides and in the native
state, in narrow quartz veins and silicified zones within
carbonate alteration envelopes and sheared sediments, along the
margins of the gabbroic intrusion, within the intrusion and
within the enclosing Huronian sedimentary rocks. In the western
part of the property, sampling by the property owners at the past
producing Bousquet mine site has returned values of from 5.5 to
119.2 g/t Au from 6 selected samples of carbonate altered wall
rock, dump material, and the main "Rivers" vein, containing
massive to disseminated arsenopyrite.
Approximately 0.7 km farther east the Rainbow occurrences yield
values of 1 to 114 g/t Au along with 1.27% Cu, 0.14% Ni, 0.17%
Co, 75 ppb Pt, and 169 ppb Pd in a selected sample collected by
the owners. In 1995 the owners also collected a 1 m drill core
sample which returned a value of 5.6 g/t Au.
About 1.6 km to the northeast the Bridger Pond deposit (Bousquet
Gold Mine) produced 16,600 tonnes grading 9.2 g/t Au in 1936-38.
The gold occurs in sulphide rich quartz veins within a 30 m wide
carbonatized shear zone. Analysis of selected samples of very
narrow quartz veins collected by the property owners yielded
values ranging from 85 ppb to 33.3 g/t Au.
Further assessments of the existing data will be reported, as
their compilation progresses. Interest in this property is
highlighted by palladium prices currently approaching US$ 800 per
ounce, and a growing demand that substantially exceeds both
present and foreseeable supply. The analytical and assay data
generated by the previous work indicates that the property
warrants further exploration for economic PGE mineralization.
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The Canadian Venture Exchange has reviewed but does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
Mario A. Miranda
MacDonald Mines Exploration Ltd.
Tel: (416) 865-1625
Fax: (416) 865-9386
www.macmines.com |
