MacMillan Reports Positive Gold and Silver Results from Remaining 6 Holes from La Mus Phase 1 Drilling
Thu Oct 25, 12:38 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - Oct. 25, 2007) - George A. Brown, President & CEO of MacMillan Gold Corp. (TSX VENTURE: MMG.V) is pleased to provide this Mexico exploration update. Mr. William Hamilton, P.Geo. and Manager of Exploration is a Qualified Persons under the meaning of Canadian National Instrument 43-101 and is responsible for all technical information contained in this news release.
The Company completed a 14 diamond drill hole program totaling 2,179.85 metres at the La Mus Gold and Silver Project in Sinaloa, Mexico. The first 10 holes were drilled at a -45 degree dip for a total of 1,582.45 metres to test the northwest trending San Miguel Target along approximately 450 metres of strike length.
The following table provides a summary of the holes listed by section from the southeast to the northwest:
Hole # Depth in Metres # Samples Date Shipped Section
------ --------------- --------- ------------ -------
7 131.25 93 May 22 0 NW
6 175.65 135 May 16 0 + 50 NW
3 84.00 73 April 25 100 NW
5 120.00 99 May 11 100 NW
2 181.00 144 April 17 100 + 50 NW
4 157.20 126 May 2 100 + 75 NW
1 160.10 142 March 26 200 NW
8 146.90 116 June 1 200 + 50 NW
9 165.65 139 June 8 300 + 50 NW
10 260.70 195 June 18 400 + 50 NW
The results of Holes 1 through 8 are summarized in MacMillan's August 7, 2007 news release. Assay results from Holes #9 and #10 have been received and compiled. The drill intercepts with reportable values are as noted in the table below:
Estimated Total g Ag
From To True Equivalent/t
metre metre Width Width g Au/t g Ag/t (i)
----- ----- ----- --------- ------ ------ ------------
Hole #9 35.0 36.5 1.5 1.4 0.145 27.3 34.5
83.0 84.0 1.0 0.9 0.665 2.6 35.8
151.0 164.0 13.0 11.7 0.715 82.1 117.8
including 159.0 163.0 4.0 3.6 1.421 168.1 239.1
Hole #10 38.0 39.5 1.5 1.4 0.214 49.9 60.6
74.0 78.5 4.5 4.1 0.561 111.1 139.1
including 75.5 77.0 1.5 1.4 1.304 246.5 311.7
90.5 93.5 3.0 2.7 0.432 40.2 61.8
99.5 101.0 1.5 1.4 0.966 2.9 51.2
The remaining 4 holes were drilled for a total of 597.40 metres to test the north-northeast trending San Miguel NW Target along 225 metres of strike length. The first 3 of these holes were drilled at a -45 degree dip with the last hole drilled vertically.
The following table provides a summary of the holes listed by section from the north to the south:
Hole # Depth in Metres # Samples Date Shipped Section
------ --------------- --------- ------------ -------
11 94.80 74 June 26 0 N
12 180.30 127 June 26 100 S
13 172.45 132 July 14 225 S
14 149.85 128 July 14 225 S (90 degrees)
Assay results from Holes #11 through #14 have been received and compiled. The drill intercepts with reportable values are as noted in the table below:
Estimated Total g Ag
From To True Equivalent/t
metre metre Width Width g Au/t g Ag/t (i)
----- ----- ----- --------- ------ ------ ------------
Hole #11 61.0 70.5 9.5 9.5 0.146 18.0 25.3
84.0 89.3 5.3 5.3 3.103 280.6 435.8
including 85.47 88.3 2.83 2.83 5.342 477.7 744.8
Hole #12 116.95 128.4 11.45 11.45 0.215 20.7 31.5
including 116.95 118.45 1.5 1.5 0.225 40.4 57.3
also
including 124.45 125.95 1.5 1.5 0.401 32.2 62.3
152.85 164.85 12.0 12.0 0.793 3.0 42.7
including 155.85 163.35 7.5 7.5 0.981 3.1 52.1
Hole #13 78.05 79.05 1.0 1.0 0.229 47.1 58.6
91.55 93.05 1.5 1.5 5.486 29.6 303.9
(0.2% lead,
0.6% zinc)
150.65 151.65 1.0 1.0 0.334 7.1 23.8
156.05 157.55 1.6 1.6 0.352 5.3 22.9
Hole #14 10.50 11.25 0.75 0.5 0.070 33.7 37.2
27.1 35.0 7.9 5.1 0.982 92.0 140.2
including 30.0 34.0 4.0 2.6 1.495 135.8 206.6
47.0 56.95 9.95 6.4 1.596 86.5 170.8
Including 51.1 52.0 0.9 0.6 2.606 488.1 605.4
(i) Note - Total g Ag Equivalent/t is the sum of the silver g/t plus the gold converted to silver equivalent using an economic ratio of 50 to 1 based upon the approximate market values of gold to silver (i.e. Au US$600 and Ag US$12 equals 50 to 1). Metallurgical recoveries and net smelter returns are assumed to be 100%. These Equivalents should not be interpreted as actual grades since the conversion ratio varies with the volatile prices of gold and silver and the economic recovery of gold and silver can vary significantly in actual extraction and processing.
The Company has reviewed the La Mus Phase 1 drill results and has mobilized the diamond drill back to the La Mus property for a Phase 2 follow up program on the San Miguel NW Target. The drill was returned to La Mus after completion of a ten hole Phase 1 drill program at the El Zafiro gold property in the state of Sinaloa. Eight holes totalling 887.8 metres tested along 350 metres of the northwest trending El Zafiro Main Target and three holes totaling 382.35 metres tested the El Chacal Target at El Zafiro. The Company will determine what further work will be completed at El Zafiro after the results of the ten hole Phase 1 program have been received and evaluated.
Drilling was completed by Redrilsa Mexico S.A. de C.V. based in Zacatecas. Samples were split and logged by Company personnel at a secure location near the property. All samples are shipped to Inspectorate de Mexico S.A. de C.V. in Durango, Mexico for preparation and then forwarded to Inspectorate Precious Metals Inc. in Sparks, Nevada for assay. Blank and standard quality control/quality assurance samples are inserted into the sample stream. No appreciable assay discrepancies have been noted.
MacMillan Gold Corp. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "MMG".
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release.
Contacts
George A. Brown
MacMillan Gold Corp.
President and CEO
(416) 867-1101
(416) 867-1222 (FAX)
Email: macmillangold@ca.inter.net
Website: www.macmillangold.com |
