MacDonald Mines Exploration Ltd.
TSX VENTURE : BMK

MacDonald Mines Exploration Ltd.

February 23, 2017 06:00 ET

MacDonald Mines Provides Update on Exploration Programs of Both Holdsworth and Charlevoix: Composite Samples Up to 99.39% High Purity Silica From Charlevoix

TORONTO, ONTARIO--(Marketwired - Feb. 23, 2017) - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald Mines", or the "Company") has begun exploration programs at both its Wawa-Holdsworth Gold Project near Wawa, Ontario, and its Charlevoix Silica Property located approximately 42 kilometres north of Baie-Saint-Paul, Quebec. The sampling program conducted at Charlevoix suggest that the high purity quartzite unit mined at the Sitec Silica Mine extends on the property.

Wawa-Holdsworth Project

Havenan Brothers completed 62 kilometres of line cutting at the Wawa-Holdsworth Project in order to conduct magnetic and electromagnetic surveys on the property. The Company intends to utilize this data to map, model and highlight prospective drill targets.

The Wawa-Holdsworth Project is comprised of 18 contiguous patented mining claims covering approximately 285 hectares, located 20 kilometres northeast of Wawa, Ontario.

Three gold targets have been identified on the property:

  • 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 Company believes that there is potential to find additional high-grade gold mineralization at the Wawa-Holdsworth Project.

Charlevoix Silica Property

MacDonald Mines carried out a reconnaissance and prospecting program in January 2017 at the Company's Charlevoix Silica Property. The objective of the program was to assess access to the property and collect outcrop samples.

Results of the quartzite composite samples are as follows:

Sample_ID SiO2_%
17205 98.43
17206 98.67
17207 99.39
17208 98.96
17209 98.97
17210 99.11

A total of 12 composite samples were collected, 6 of which were of the quartzite unit being targeted by the program, and several structural measurements and bedrock locations were recorded. The presence of the quartzite unit and its projected location on the claims was confirmed, and it was traced for approximately 500 meters in length (see Figure 1).

Quentin Yarie, MacDonald's President and CEO commented, "The assay results support Charlevoix's high purity silica potential. Despite the snow cover, it is apparent that the presence of the quartzite unit as mapped by the government exists. We have every reason to believe that our property, located only 15 km from the Sitec Silica Mine, hosts high purity silica. The fact that the Charlevoix quartzite unit consists of a fold should provide a much thicker quartzite unit on our property."

The Sitec Silica Mine has been in production for more than 50 years. It produces approximately 250,000 tonnes of silica a year and has an estimated future mine life of over 20 years. Silica from the Sitec Mine is shipped to plants in Bécancour, Chicoutimi and the United States. Silica produced at Sitec is used at foundries and glass factories as well as in the production of solar panels and high-tech components.

Prospectors and Developers Association of Canada ("PDAC") Convention

Investors are invited to visit booth #2512 on March 5-8, 2017, to meet with MacDonald's management and staff to discuss the Company's recent activities and projects.

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 recently acquired the Charlevoix Silica Property in Quebec and entered into an option and joint venture agreement with Noble Mineral Exploration Inc. to advance exploration on Noble's Wawa-Holdsworth Gold and Silver Project in Ontario.

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.

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.

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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/bmk0223fig1.pdf.

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