VANCOUVER, BC--(Marketwired - February 21, 2017) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) ("Broadway" or the "Company") today announces that it is immediately commencing with a follow-up Phase II surface drilling program at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana, USA.
With support from the Board of Directors, management has authorized increasing the drilling footage by 2,286 metres (7,500 feet), which more than doubles the total footage of the initial drill program previously announced in the press release dated January 17, 2017. Alteration and mineralization observed in the eight holes drilled to date provides confidence that additional drilling is warranted.
"We are extremely encouraged with the progress and success of the Phase I drilling program to date and without hesitation support our technical team's recommendations to continue with a Phase II drilling Program at this time," said Duane Parnham, Chairman of Broadway Gold Mining. "Copper and gold prices continue to show strength, supporting our theory that Broadway is uniquely positioned to deliver an advanced-stage exploration project with near-term production potential."
The first three holes drilled, logged and split are in transit to the ALS Minerals Laboratory in North Vancouver, British Columbia for analysis. Results of these assays will be released once received.
Broadway cautions investors there have been no assays received to date from the Phase I drilling and core sampling program to corroborate the visual mineralization observed, expressed or implied in this press release that has directly influenced our decisions.
All data collected from Broadway's Phase I and II drilling programs, sampling of historic drill core stored on site and any other relevant information may be used to deliver a new resource calculation and possible preliminary economic assessment.
AK Drilling, Inc. of Butte, Montana is the contractor performing the surface drilling programs. All samples from 2017 drilling are being shipped to 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.
R. Tim Henneberry, P.Geo., a Director of Broadway and a Qualified Person as defined by NI 43-101, has prepared and approved the technical information contained in this release.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a mineral exploration and development company that owns a 100% interest in the Madison copper-gold project located in the famous Butte-Anaconda mining region of Montana, USA. The Madison copper-gold project is a permitted for exploration and contains a past-producing underground mine that Broadway has refurbished with potential to expand known copper and gold zones that remain open for development. Outside the mining parameter, Broadway has also identified exploration potential within its extensive land package.
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.