SOURCE: Broadway Gold Mining Ltd.

Broadway Gold Mining

May 10, 2017 08:00 ET

Broadway Reports Continued Drill Success at Madison Underground: 41.6 g/t Gold Over 11 Meters

VANCOUVER, BC--(Marketwired - May 10, 2017) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH) ("Broadway" or the "Company") is pleased to announce additional high-grade gold results and provide a geophysics and drilling update from underground exploration at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana.

Further to our May 3, 2017 press release in which the Company announced over 30 meters of 24.5 grams per tonne gold (g/t Au) in UG17-05, we are pleased to report assay highlights from the second hole, U17-06:

  • 41.6 g/t Au over 11 meters.
  • 0.9 meter intercepts ranging from 8.69 to 90.1 g/t Au.
  • Seven of the 12 samples returned values in excess of 34.3 g/t Au.

Highlights

  • New high-grade massive sulphide target has been confirmed by both underground and surface drilling and remains open to depth.
  • Geophysics show new zones exist as extensions of prior trial mining work.
  • The massive sulphide and garnet epidote zone continues to display consistent gold concentrations over 7.5 to 30-meter widths.
  • Five underground holes and 13 surface holes are in assay process to be released near term.
  • Rehabilitated underground workings, infrastructure, heavy equipment and Small Miners Exclusion Permit will allow for near-term evaluation of high-grade bulk sampling.

"Drilling continues to return excellent results, and we are seeing consistency of grades across our target zones at Madison. The strong correlation between assay results and geophysics is also extremely encouraging," said Duane Parnham, President and CEO for Broadway Mining. "Mineralization remains open at depth, and we look forward to reporting additional results from underground and surface drilling."

Geophysical contractor Peter E. Walcott & Associates recently completed a Mise ala Masse electrical geophysical survey to trace the location, shape and extent of the massive sulphide zone intersected in the underground drilling, utilizing access through hole UG17-06. The survey confirmed the ovoid cylindrical shaped of the sulphide body and its western plunge to depth. Additional Mise ala Masse surveying is planned as additional holes are drilled into the massive sulphide.

Recently completed surface drill hole C17-20 successfully tested the down dip extension on the massive sulfide 41 metres below the 600 level. Parallel to its short axis, it intersected a zone of massive sulphides between 146.1 and 153.8 metres. True width of this intersection has not yet been determined. Broadway cautions investors these are visible observations of the core mineralization and assay results have not yet been received from the laboratory.

Time Domain Pulse electromagnetics (EM) was also completed over a number of the shallower geophysical targets identified in the earlier IP survey (see press release dated March 8, 2017). A number of these anomalies were further substantiated and are currently being prioritized for follow-up drilling. In addition, Peter E. Walcott and Associates is currently expanding the earlier IP survey to cover the newly acquired contiguous claim blocks to the south and west (see news release dated March 29, 2017).

Assay Results Summary

Hole   From To Interval Copper (%) Gold
(ft)(m) (ft)(m) (ft)(m) (g/t)(oz/t)
U17-06   27 8.2 63 19.2 36 11.0 0.384 41.65 1.21
  including 30 9.1 45 13.7 15 4.6 0.271 51.84 1.51
  including 57 17.4 60 18.3 3 0.9 0.368 90.1 2.63

True width is estimated at 70 percent core length

The complete assay results for the intervals, accompanying drill plan and geophysical plot can be found on the current exploration page of the Company's website.

U17-06 was drilled on an azimuth of 231 degrees at a dip of -25 degrees, parallel to the longer axis of the steeply dipping ovoid cylindrical massive sulfide body plunging near vertical at 15 degrees south-southwest and measuring roughly 30 meters by 16.5 meters on the 600 level, and containing massive sulphides with pyrite, pyrrhotite and chalcopyrite. The U17-06 intersection is on the southeast edge of the sulfide as shown on the drilling plan and consisted of massive sulfide inter-fingered with epidote-garnet skarn. Mineralization is described as 5% to 30% pyrite and 1% to 3% chalcopyrite.

All analyses were completed at the North Vancouver ALS Minerals laboratory, 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. Groundhog Mining of Dillon, Montana is the contractor performing the underground drilling 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 0.9 metre 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, BC.

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 one 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-ICP61 analysis followed by 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 advanced 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 provide 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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