BMK reminder...
posted on
Apr 11, 2008 05:43AM
Discuss the various junior resource companies within the McFaulds Lake Area
Although I am not a huge BMK fan (I do hold a small position), it is important to remeber that BMK story is far from over, and we are just gearing-up for Act II of BMK Mc Fauld's Lake story.
TORONTO, ONTARIO, Mar 13 (MARKET WIRE) --
MacDonald Mines Exploration Ltd. ("MacDonald Mines" or the "Company")
(TSX VENTURE: BMK) is pleased to announce that the Company added
contiguous ground to the southern part of the original McNugget Property
and recent airborne geophysical data has already identified a number of
high-priority targets in this newly staked area.
Recently completed high-resolution airborne surveys, using three
helicopter-mounted systems, flew 10,000 line kilometers of AEM
(electromagnetic) and magnetic surveys for MacDonald and its joint
venture partners, Temex Resources and Baltic Resources. The Company is
analyzing this data and initial interpretations indicate that gabbroic
hosted nickel sulphide drill targets can be identified.
Hadyn Bulter, P. Geo., Director, provided the following comment. "The
McNugget Property has approximately 20 km of coincident
magnetic-electromagnetic targets in an identical basal contact
(stratigraphic) position to Noront's Eagle 1 discovery - known basal
ultramafics in the McNugget differentiated gabbro chamber are immediately
adjacent to the same "western granitic contact" as that seen at Eagle
One. The 112 meters of ultramafic-hosted nickeliferous disseminated
sulphides in drill hole MN07-46 is similar to disseminated sulphide halos
in other differentiated gabbroic chambers occurring adjacent to massive
sulphide deposits (e.g., eastern deeps at Voisey's Bay) and is a very
positive indicator of an established nickeliferous sulphide system".
Preliminary analysis of the new data outlined an additional number of
high-priority targets on the McNugget Property area. The cumulative
number of existing and new targets prompted a re-location of our
exploration camp from the community of Webequie to Butler Lake located on
the McNugget Property.
When the Company completes its analyses of this new data and all the
information has been fully interpreted, favorable targets will be
identified and ground work will commence. This will include line cutting
and establishing of grids for the execution of ground geophysical
surveys. A Time-Domain Electromagnetic survey will be conducted over
selected target areas in order to define potential deeper sources within
the nickeliferous sulphide system.
The Drill Targets
1. The Original McNugget Property
The original McNugget Property, which includes the Hawk Uranium joint
venture claims, contains, as previously outlined by Hadyn Butler, 20km of
coincident magnetic and/or electromagnetic targets in an identical basal
contact (stratigraphic) position to Noront's Eagle One discovery. The
number of targets has yet to be quantified for this program but will
constitute a significant portion of the total program because of the very
favourable geology.
Kirk McKinnon, President & CEO commenting, said, "the original Noront
discovery required, from a market perspective, additional mineralized
discoveries in order to verify a new mining camp of significance.
Noront's recent "Eagle Two" discovery, which is over two kilometres from
the original discovery, meets this requirement. The second Noront
discovery changes the dynamics for MacDonald Mines as the Company can now
analyze its properties from a new geological perspective. Our drill
program analysis going forward will now focus on the exploration for
nickel-bearing ore deposits relative to Voisey's Bay or Sudbury, where
most of the significant mineralized discoveries in both those camps
occurred at depth."
2. The McNugget Property Extension
During the late 2007 staking rush in the area, MacDonald Mines
immediately added contiguous ground to the southern part of the McNugget
Property, as we already had previous knowledge of the geology in the
area. The recent airborne data has identified a number of high priority
targets in this newly acquired area.
3. The MacDonald Joint-Venture "Hornby" Property in Close Proximity to
Noront's Eagle One Discovery
The Hornby joint venture Property (with Temex Resources) has a number of
targets on the small but important claim blocks immediately west and
south to the Fancamp and Freewest Properties. These anomalies run from
the Fancamp and Freewest Properties on to the Hornby Property and are
high-priority targets that are being prioritized in importance for
subsequent drilling.
4. The MacDonald Joint-Venture "Adelaide" Property
The important and larger Adelaide joint venture Property (with Temex and
Baltic Resources) lies due south of the McNugget Property and contains a
number of interesting anomalies that are currently being prioritized for
ground follow-up work.
This news release has been prepared under the supervision of Bill
Nielsen, P.Geo., Director, who is the designated qualified person for the
technical information contained in this press release.
Field exploration is managed by Randall Salo, P. Geo., and with respect
to the joint-venture properties, in coordination with Bruce Durham,
P.Geo, Vice President of Temex Resources.
WARNING: The statements made in this news release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially from
expectations and projections set out herein.