SOURCE: Broadway Gold Mining Ltd.

Broadway Gold Mining

June 15, 2017 07:36 ET

Broadway Reports Continued Underground Drill Success at Madison: 1.098% Copper and 1.651 g/t Gold Over 25.3 Meters

VANCOUVER, BC--(Marketwired - June 15, 2017) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) ("Broadway" or the "Company") is pleased to announce the remaining results from the 2017 underground drill program at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana, USA.

Highlights of the results include:

  • 1.098% Cu and 1.651 grams per tonne (g/t) Au over 25.3 meters in hole U17-04
  • 0.163% Cu and 0.700 grams per tonne (g/t) Au over 34.7 meters in hole U17-03
  • 1.428% Cu and 0.609 grams per tonne (g/t) Au over 3.7 meters in hole U17-02

"We have had significant success with the underground portion of our drill program at Madison," said Duane Parnham, President and CEO of Broadway. "We have proven that the copper-gold mineralization continues at depths below the 600 level. With further work, Broadway may be in a position to consider extracting the high-grade gold values revealed to date using existing permits under our Small Miners Exclusion Statement."

Underground drilling has defined a 30 meter by 16.5 meter ovoid cylindrical sulfide body immediately beneath the 600 level. Results clearly show that gold and copper mineralization continues to depth below the 600 level as shown in the accompanying drill plan (see also http://broadwaymining.com/projects/current-exploration/). This gives the Company the option to consider resuming small-scale mining using existing infrastructure in the same manner as the previous operator.

Because the existing underground infrastructure does not allow for deeper drilling from within the mine workings, surface hole C17-20 was drilled to test the down dip extension of the mineralized ovoid body a further 40 meters below the 600 level. This hole intersected massive sulfides parallel to the short axis of the sulfide body, which indicates that the body remains open to depth. Broadway cautions investors these are visible observations of the core mineralization and assay results have not yet been received from the laboratory. Assay results are pending for nine surface drill holes.

The results from these three underground holes and two previously released holes suggest a zoning within the sulfide body. The southern section appears to contain a more gold-rich zone while the northern section appears to contain a more copper-rich zone. The last sample in Hole U17-04 ran 8.27 g/t Au suggesting mineralization extends past the end of the hole. Gold and copper mineralization extended both above and below the massive sulfide into the epidote-garnet-diopside skarn and intrusive.

Mineralization within the massive sulfide is described as 1% to 80% pyrite, 0% to 20% pyrrhotite, 0% to 5% chalcocite, 0% to 5% chalcopyrite and 0% to 5% bornite. Mineralization within the epidote-diopside-garnet skarn and Radar Creek intrusive is described as local chalcocite, native copper and copper oxides.

Assay Results Summary

Hole     From  To  Interval  Copper  Gold
(ft)  (m)  (ft)  (m)  (ft)  (m)  (%)  (g/t)  (oz/t)
U17-02     45  13.7  57  17.4  12  3.7  1.428  0.609  0.018
U17-03     27  8.2  141  43.0  114  34.7  0.163  0.700  0.020
   including  27  8.2  36  11.0  9  2.7  0.748  4.108  0.120
   including  57  17.4  75  22.9  18  5.5  1.625  1.702  0.050
   including  108  32.9  123  37.5  15  4.6  0.353  0.289  0.008
U17-04     30  9.1  113  34.4  83  25.3  1.098  1.651  0.048
   including  63  19.2  87  26.5  24  7.3  2.717  2.466  0.072
   including  105  32.0  113  34.4  8  2.4  0.049  4.786  0.140

True width is estimated at 70 percent core length

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

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 meter 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.

Forward Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Broadway are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Broadway's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Broadway with securities regulators. Broadway expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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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