SOURCE: Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd.

March 21, 2017 07:00 ET

Broadway Announces Additional High-Grade Drill Results at Madison, Intercepts 168 Feet and 141 Feet Copper-Gold Sections

VANCOUVER, BC--(Marketwired - March 21, 2017) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) ("Broadway" or the "Company") has received assay results from the next three drill holes of its 2017 surface drilling campaign at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana, USA.

Highlights of the results from holes C17-07 include:

  • 141-foot section grading 1.18% copper and 1.22 grams per tonne (g/t) gold between 398 feet and 539 feet including a 33-foot interval containing visible native copper and copper oxides in the core sample grading 3.45% and 0.14 g/t gold.
  • Individual 3-foot samples from the interval ranged from a low of 0.193% to a high of 6.69% copper with 23 of the 47 samples returning values in excess of 0.5%.
  • In addition a 33-foot interval returned 4.92 g/t gold and 0.52% copper, including a 12-foot interval that ran 9.34 g/t gold and 0.66% copper.

Highlights of the results from holes C17-03 include:

  • 168-foot section grading 0.57% copper and 0.19 g/t gold between 405 feet and 573 feet including a 9-foot interval containing visible copper oxides in the core sample grading 1.30% and 0.05 g/t gold.
  • Individual 3-foot samples from the interval ranged from a low of 0.182% to a high of 1.36% copper with 27 of the 56 samples returning values in excess of 0.5%.

Assay Results Summary

Hole   From  To Interval Copper  Gold
 (ft)(ft)(ft) (m)  (%)(g/t) (oz/t) 
C17-07   398 539 141 43.0 1.18 1.22 0.035
  including 434 467 33 10.1 3.45 0.14 0.004
  including 473 506 33 10.1 0.52 4.92 0.143
  including 473 485 12 3.7 0.66 9.34 0.272
C17-07   319 356 37 11.3 0.04 1.74 0.051
  including 337 356 19 5.8 0.06 2.94 0.086
C17-03   405 573 168 51.2 0.57 0.19 0.006
  including 411 420 9 2.7 1.30 0.05 0.001
C17-02   No significant assays received

Complete assay results can be found under the Current Exploration Page on the Company's website.

"Three of the first four drill holes at Madison have averaged over 140 feet of measurable mineralization. We continue to see extensive copper mineralization and are now seeing our first high-grade gold zones," said Duane Parnham, Chairman of Broadway Gold Mining. "Broadway looks forward to releasing further results in the weeks ahead."

The complete assay results for the intervals can be found on the current exploration page of the Company's website. The true thickness of the copper zone has not yet been established.

The 2017 Phase I and Phase 2 surface drilling program is designed to confirm and establish the extent of copper mineralization to the west of the decline, indicated from historic drilling. The next four holes drilled, logged and split are in transit to or at the ALS Minerals Laboratory in North Vancouver, British Columbia for analysis. Results of assays for the next series of holes will be released once received.

The copper interval in C17-07 was contained in an 85-foot jasperoid zone, followed by a 28-foot gossan zone and 28 feet of Radar Creek diorite immediately below the fault contact with the Madison limestone. Copper was also found in the lowest three feet of the limestone. In addition to the native copper, copper oxides were noted at several locations through the interval. The gold interval higher in the hole was contained in the lower 37 feet of an 85-foot-thick ploylithic breccia within the limestone. No visible mineralization was noted in the auriferous section.

The copper interval in C17-03 was contained in an 111-foot gossan and jasperoid zone, followed by a 57-foot garnet diopside zone. Copper mineralization again was found immediately below the faulted Madison limestone contact. Copper oxides were noted at several locations through the interval.

Initial interpretation, based on the 15 holes drilled to date, suggests the copper-bearing jasperoid zone begins at approximately 300 to 400 feet vertically below surface and plunges to the northwest. C17-02 cut the through the projected jasperoid interval above the 400-foot level and therefore did not intersect any jasperoid.

All analyses were completed at the ALS Minerals Laboratory in North Vancouver, British Columbia, an ISO/IEC 17025:2005 certified facility. Broadway is utilizing a program of third party standards and blanks inserted at regular intervals through the sample stream as its QA/QC program. AK Drilling, Inc. of Butte, Montana is the contractor performing the surface drilling programs.

Sample Preparation and Quality Control

Supervision, organization and splitting of drilling core samples were undertaken by company personnel. Samples were collected at three-foot intervals from half core samples. Samples were catalogued by Broadway geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each drill hole at random intervals. Blank material was also inserted at random intervals. Samples were packed into rice bags, zap strapped and securely stored until they were turned over to the local trucking company for transport to the ALS Minerals Laboratory in North Vancouver, B.C.

Laboratory Quality Assurance/Quality Control

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-904, OREAS-45b, OGGeo08 and PGMS25. No issues were noted with analytical accuracy or precision.

Assay Techniques

Three different assay procedures were designed by ALS Minerals for the samples, based on the presence of copper sulfides or oxides, and native copper. The standard assay procedure of Au-ICP21 and Cu-ICP61 was applied to most of the samples. Au-ICP21 is a 30 gram fire assay with an ICP-AES finish. ICP61 is a 4 acid digestion of a 1 gram sample with an ICP finish. Samples with visible copper mineralization received a Cu-OG62 copper analysis, a four acid digestion of a 0.5 grams sample with ICP-AES finish. OG62 has a copper range from 0.001 to 40%, while the ICP61 analysis has a copper maximum range of 10,000 ppm. Samples with visible native copper received a duplicate Cu-OG62 analysis that included a WSH-22 procedure where the pulverizers are cleaned with barren material after every sample. Over-limit copper values from the ICP61 analyses received an OG62 procedure to determine the final Cu grade.

Qualified Person

R. Tim Henneberry, P.Geo., a Director of Broadway and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.

About Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with unexploited exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine's perimeter, the company's exploration program has identified new anomalies across its extensive land package that provides compelling drill targets that are believed to be associated with large-scale porphyry mineralization.

Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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