MacDonald Mines Exploration (BMK-V) drilled 7.99 grams of gold per tonne over 26.2 metres from one of four new holes at its SPJ property, east of Sudbury in Ontario. This hit is a new find on a yet-to-be-named structure north of the Scadding East-West pit. The bulk of the near-surface gold in that glittering hole came from one 13.24-metre interval that averaged 11.54 grams per tonne and another that returned 10.98 grams per tonne over 4.98 metres. Two of the three other holes yielded modest amounts of gold over narrow intervals from the Bristol and Villeneuve zones. The remaining hole did not encounter gold.
Mr. Yarie, president and chief executive officer, says that his company's 2019 drilling program shows that significant amounts of near-surface, high-grade gold mineralization are present beyond the original footprint of the old Scadding mine. With the drilling now complete, MacDonald Mines will log the rest of the drill core, update its geological model and define the next round of targets for the already budgeted drill program to start early next year.
The old Scadding mine produced nearly 30,000 ounces of gold from 127,000 tonnes, about 7.2 grams of gold per tonne, but Mr. Yarie and his crew think that the old miners missed significant gold structures, if not a gold-rich iron oxide-copper-gold (IOCG) deposit. Either way, Scadding -- the "S" in SPJ -- is likely to be a focus next year, with Powerline and Jovan, two nearby blocks that contribute the rest of the acronym, playing a secondary role in Mr. Yarie's promotion.
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