Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Drilling at Ontario Property Hits 735.5 g/t Gold over 0.96 Meters
News Update

Share on Stocktwits


MacDonald Mines Exploration reports strong start to its definition drilling in northern Ontario.

In a news release, Macdonald Mines Exploration Ltd. (BMK:TSX.V; MCDMF:OTCMKTS) announced a successful first hole of its 2020 definition drilling in the Scadding deposit's North Pit area on its SPJ property in northern Ontario.

That maiden hole, SM-20-026, intersected 59.2 grams per ton gold over 19.07 meters (19.07m) in the Bristol structure, including 735.5 g/t Gold over 0.96m and 411 g/t Gold over 0.93m, suggesting a near-surface high-grade gold resource in the North Pit locale, the company reported.

Further, SM-02-026 encountered an intersection of 52 g/t gold over 12m previously identified in hole SM-19-002. SM-02-026 is 18m northeast of SM-19-002. These two holes "indicate continuity for a zone of exceptionally high-grade gold mineralization discovered in the North Pit area," President and CEO Quentin Yarie said in the release.

SM-20-026 contains a chlorite zone made up of "strong chlorite alteration with low sulfide content and cut by numerous dark-grey quartz stringers and one larger quartz vein rich in pyrrhotite," the release described. These stringers likely contribute to the formation of "exceptionally" high-grade mineralization found in the Scadding deposit's chlorite zones, according to the Toronto-based explorer.

So far this year, MacDonald drilled nine holes of its planned program. It will announce results as they become available.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Gold and Base Metals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe