SOURCE: Broadway Gold Mining Ltd.

Broadway Gold Mining

September 18, 2017 07:00 ET

Broadway Targets Copper-Gold Porphyry, Commences Phase III Drill Program

VANCOUVER, BC--(Marketwired - September 18, 2017) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) ("Broadway" or the "Company") has commenced a 3,050-meter (10,000-foot) Phase III surface drilling program targeting copper-gold porphyry at the Company's 100%-owned Madison project in the legendary Butte-Anaconda mining region of Montana, USA. Extensive geological interpretation of Phase I and II results has identified multiple priority target areas interpreted to be associated with a copper-gold porphyry system at depth and located within a well-mineralized, two-mile-long geological, geophysical and geochemical trend. Broadway is fully funded for completion of the Phase III program.

"We are excited that our Phase III program will include drilling into what we believe is a copper-gold porphyry system at depth," said Duane Parnham, President and CEO of Broadway Gold Mining Ltd. "If we can prove that the porphyry target is consistent with our geological model, not only will the Madison project be a company maker, it adds a third dimension to the native copper skarn zone and massive sulphide potential from a mining perspective."

The focus of the first three drill holes will be distinct IP and TDEM targets, including the NC, SE-1 and SE-2 chargeability highs.

The strong Mise-a-la-Masse anomaly is another Phase III drill target. It is located north of the known zone of massive sulfide mineralization on the 600 level of the Madison Mine where Broadway delivered underground drilling results including:

  • 24.50 grams per tonne (g/t) Au and 0.391% Cu over 30.28 meters in hole U17-05; and,
  • 41.65 g/t Au and 0.384% Cu over 11.0 meters in hole U17-06.

Prior surface drill hole C17-20 penetrated the edge of the Mise-a-la-Masse anomaly and returned a massive sulfide intercept of 1.247% Cu and 1.843 g/t over 23.8 meters.

The third goal of the new drill program will be to extend the auriferous and cupriferous jasper mineralization consisting of native copper and gold trending to the northwest from the Madison Mine. Drilling highlights to date from this zone returned:

  • 2.571% Cu and 0.151 g/t Au over 30.2 meters in a longer interval of 1.725% Cu and 0.097 g/t Au over 49.4 meters in hole C17-16; and,
  • 1.020% Cu and 0.159 g/t Au over 31.1 meters in hole C17-17.

The IP survey strongly suggests that a second anomalous zone with similar geophysical characteristics lies to the northwest of the anomalous zone hosting the auriferous and cupriferous jasperoid.

Drill results will be released periodically once the core has been logged, sampled and complete analysis is received.

True widths for the surface and underground drill holes have yet to be determined.

Qualified Person

R. Tim Henneberry, P.Geo., Broadway's Geologist 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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