MacDonald Mines Exploration Ltd.
TSX VENTURE : BMK

MacDonald Mines Exploration Ltd.

December 13, 2016 06:00 ET

MacDonald Mines Discovers A New Gold-Bearing Shear Zone at the Wawa-Holdsworth Project - Grab Sample Contains 5.36 G/T Gold

TORONTO, ONTARIO--(Marketwired - Dec. 13, 2016) - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald Mines", "MacDonald" or the "Company") is pleased to announce that it has received results for its ground sampling program at the Wawa-Holdsworth Project ("Holdsworth") located near Hawk Junction, 25 kilometres northeast of Wawa, Ontario.

Highlights from the Initial Sampling Program include:

- The discovery of a new gold-bearing shear zone next to the old CN railway line (Figure 1) with a grab sample containing 5.36 g/t gold; and

- The Company has determined that the known gold mineralized zones at Holdsworth are part of a 500-metres wide corridor with multiple zones of deformation and hydrothermal alteration that are considered favourable for gold mineralization.

Quentin Yarie, MacDonald's President and CEO commented: "We are excited that with the limited time spent on the property since the announcement of the Option Agreement, our experience in the Wawa Gold Camp has led to the discovery of a gold-mineralized shear zone next to a railway line that has been used for decades. The observation of numerous deformation and alteration zones in a 500-metres wide corridor suggests that the gold system at Holdsworth is much larger than what previous exploration results indicate. Results to date are exciting and we are looking forward to further the development of this very promising project."

Results from the Initial Sampling Program

This sampling and mapping program led to the discovery of a gold-bearing shear zone located alongside the old CN railway in the southern part of the property. The discovered gold-bearing shear zone is formed close to the contact between a volcanic sequence and a composite porphyritic intrusion. This sampling and mapping program also indicates that the previously known zones of gold mineralization of the Wawa-Holdsworth Project are part of a much larger deformation and alteration corridor that is now defined over a width of 500 metres.

The main zones of gold mineralization of the Wawa-Holdsworth Project include:

  • Lode Gold in traditional quartz veins, known as the "The Soocana Vein",
  • An oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the "The Oxide Sands", and
  • The precursor to the Oxide Sands - a massive pyrite zone (Algoma Iron Formation) at depths, known as "The Massive Sulphide".

The identification of this large deformation and alteration corridor, which already hosts many zones of gold mineralization, indicate that the gold system is likely larger than what is indicated by previous exploration and that additional exploration may uncover additional zones of gold mineralization.

MacDonald's future exploration programs at Holdsworth will take full advantage of its technical team's experience and expertise in the Wawa Gold Camp. This includes the use of forefront technologies like short wave infrared and portable XRF analyses that provide quantitative mineralogical and chemical indicators to evaluate the fertility and prospectivity of gold-bearing structures. The Company has also initiated a detailed review and re-interpretation of the existing exploration data on the property to pinpoint possible areas of gold mineralization that were missed in the past. This will help define the boundaries and size of the gold system present on the property, and guide future exploration programs.

Wawa-Holdsworth Project Details

The Project is comprised of 19 contiguous patented mining claims covering approximately 304 hectares. Sixteen of these are located in the extreme southern part of Corbiere Township and the remaining three extend into the northern part of Esquega Township, in the Wawa Area of Northern Ontario.

On-site Quality Assurance/Quality Control ("QA/QC") Measures

Grab and channel samples are transported in security-sealed bags for analyses at Activation Laboratories Ltd. in Timmins, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. All grab and channel samples are geo-referenced. The remaining coarse reject portions of the samples remain in storage at the Activation Laboratories Ltd. in Timmins if further work or verification is needed.

Qualified Person

Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario, Canada. Previously focused on Copper and Zinc (VMS), and Nickel exploration in the Ring of Fire area of the James Bay Lowlands of Northern Ontario, the company is now focusing its efforts and finances on projects that demonstrate the greatest market potential for return.

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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