ML Gold drills 405 m of 0.26% CuEq at Stars
ML GOLD DRILLS 405 METRES OF 0.26% CUEQ FROM SURFACE AT STARS COPPER PROJECT; DISCOVERS NEW MINERALIZED FELDSPAR PORPHYRY UNDER COVER
ML Gold Corp.'s continuing drilling program at the Stars project has intersected over 400 metres of copper mineralization extending the entire length of hole 10 (DD18-SS010), ending in mineralization at a final depth of 490 metres. The mineralization is characterized by variably silicified and potassic altered feldspar porphyry intrusions containing coarse and fine grained disseminations of chalcopyrite, in a steeply-dipping mineralized zone. Ongoing drilling continues to expand the known mineralization along strike and at depth. Additional holes have been completed adjacent to DD18-SS010 on a 100 metre spaced drill grid, with assays pending (see drill plan map, Figure 1).
ML Gold's Stars project is ideally located 60km southwest of the resource town of Houston, B.C. The project site is low-elevation, gentle topography, and is accessible by all-season main line resource roads making it ideal for low-cost mine development.
Highlights:
A new mineralized feldspar porphyry intrusion has been intersected for the first time in Hole 10 (see attached cross section, Figure 2).
Consistent disseminated mineralization is observed in the porphyry intrusion. Mineralization also extends as vein-hosted chalcopyrite into the surrounding host rocks (ex. Hole 4 - 204 m @ 0.5% CuEq, proximal to porphyry intrusion).
Hole 10 - 405.38 metres of 0.26% CuEq from 29.57 to 434.95 metres
Including 188.97 metres of 0.33% CuEq from 178.92 to 367.89 metres.
Including 24.38 metres of 0.32% CuEq from 392.28 to 416.66 metres.
Including 79.25 metres of 0.40% CuEq from 203.30 to 282.55 metres.
Including 30.48 metres of 0.50% CuEq from 337.41 to 367.89 metres.
Increased potassic alteration is observed at depth in DD18-SS010 with coarse disseminated chalcopyrite indicating proximity to the mineralized potassic core of the system (see core detail photo, Figure 3)
Rock units observed are potassic altered feldspar-phyric porphyry intrusion along with hornfelsed and silicified Hazelton Group volcanics.
These units are synonymous to the nearby Huckleberry deposit, with similar observations of drill core made by ML Gold geologists.
The zone remains open along strike and to depth.Comments:
Adrian Smith, President of ML Gold comments,
We are very pleased with the extensive interval of mineralization in our drill core. Hole 10 marks the first time on the Stars project that we have seen large mineralized porphyritic intrusions, which is an exciting discovery on its own. With this new discovery of mineralized porphyry rock, we have shown our ability to follow vectors and find a broad zone of disseminated copper, as intersected in Hole 10. Observations by company geologists are consistent with the descriptions of mineralization and alteration at the Huckleberry deposit, which adds to the technical understanding of the system moving forward, and will allow us to rapidly advance the project.
Drilling at Stars is ongoing with the focus to follow the mineralized zone, and continue to verge toward a potentially higher grade ore zone. Additional drilling around Hole 10 has intersected similar porphyritic intrusions and we are excited for the receipt of the upcoming assay results
Zone 4 Area Renamed Tana Zone:
Hole 10 identified porphyry-style mineralization within and surrounding the newly identified unit to the south of the Zone 4 area. To accommodate this larger target area, the Company is electing to rename the Zone 4 area the "Tana Zone" which will now encompass the entire area around Hole 4 and the large magnetic low immediately to the south, east, and west.
Table 1 DD18-SS010 Significant Intercepts
Drill Hole: DD18-SS010 Zone: Tana Zone
Azimuth: 208degree UTM 83E: 613895
Dip: -60degree UTM 83N: 6010818
Length (m): 489.81 Projection: NAD83
Hole ID From (m)To (m)Interval (m)1Cu %Mo % Ag (g/t)Au (ppb)CuEq %2
DD18-SS01029.57 434.95405.38 0.200.00820.754 24 0.26
incl. 178.92 367.89188.97 0.250.01190.824 35 0.33
incl. 392.28 416.6624.38 0.250.00921.224 24 0.32
incl. 203.30 282.5579.25 0.300.01440.945 43 0.40
incl. 337.41 367.8930.48 0.400.01261.343 46 0.50
(1) The intervals reported in these tables represent drill
intercepts and insufficient data is available at this time to
state the true thickness of the mineralized zone(2) CuEq (Copper
Equivalent) values are calculated using metal spot prices at
market close on August 20th 2018 USD $2.70 / lb Cu, $11.80
/ lb Mo, $14.75 / oz Ag, $1195 / oz Au
Hole 10 was collared 50 metres ("m") east of Hole 4 (DD18-SS004) which intersected 204 metres at 0.5% CuEq. Hole 10 drilled south perpendicular to Hole 4 and appears to have identified the mineralized intrusive, possibly related to the large chalcopyrite veins seen in in Hole 4, 50 meters west (see drill plan map, Figure 1).
Additional maps are available on the Stars Project page at www.mlgoldcorp.com.
Central Target Area:
The Company continues to explore within the 5km magnetic ring feature ("Central Target Area" or "CTA"). New drilling at the Tana Zone has confirmed the presence of a larger scale porphyritic stock greater than 200m in width, proximal to the CTA. Previous drilling in the CTA has intersected smaller mineralized porphyry dykes which cut the larger monzodiorite intrusion. These smaller scale dykes may provide important exploration vectors to find additional mineralized zones. The magnetic signature of the Tana Zone appears to extend westward into the kilometer-scale CTA. Follow up drill holes are currently being planned to test extension along strike into this area, which is covered by thick till overburden.
Adrian Smith, P.Geo., is the qualified person for the Company as that term is defined in National Instrument 43-101, and has supervised the technical information presented within this news release.
Quality assurance/quality control procedures:
All drill core was logged, photographed, cut and sampled by ML Gold personnel. Prior to shipment to MS Analytical's sample preparation facility in Langley, B.C., certified reference material standards and blanks were inserted at a ratio of approximately one in every 10 drill core samples. Base metal assays are determined by IMS-230 4-acid digestion with ICP-AES/MS finish method, which reports results as parts per million (ppm). All analyses that reach the overlimit of IMS-230 are reanalyzed with an ore-grade method. The analytical results are verified with the application of industry-standard quality control and quality assurance procedures. The gold assays are determined by FAS-111 fire assay method which reports results in parts per million (equivalent to grams per tonne). Any samples with a fire assay that report gold concentrations equal to or higher than 10.0 g/t Au are analyzed by metallic screen method (Au-SCR24).
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
