ML Gold Corp.
ML Gold Corp.
- ISIN: CA60689H1047
- Land: .
Nachricht vom 23.05.2018 | 14:00
ML Gold Receives Drilling Permits and Cuts Open Ended Visible Copper in Hole 8 at Stars Property
DGAP-News: ML Gold Corp. / Key word(s): Miscellaneous
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2018) - ML Gold Corp. (TSXV: MLG) ('ML Gold' or the 'Company') announces it has received permits to conduct step-out drilling at the Stars Project in Central BC. The fully permitted drilling will continue to test the newly identified copper-molybdenum-gold-silver porphyry system under-cover at the Stars Property. Drilling will be dual purposed, focusing on expanding the high grade copper mineralization identified within the recently announced DD18SS004 ('Hole 4') area (or 'Zone 4'), and separately testing multiple targets within the wide Central Target area.
The Company is also pleased to announce it has expanded the area of visible copper mineralization in DD18SS008 ('Hole 8') which is a 50 metre step-out to the west of Hole 4. Hole 8 has encountered visible copper veining with increasing intensity down hole and is currently stopped in visible copper mineralization at 294.7 metres. The copper mineralization observed occurs as chalcopyrite only, and chalcopyrite-quartz veins with minor pyrite and quartz-sericite to potassic alteration halos. The Company has left the drill set up on Hole 8 while it goes on a short break and plans to continue drilling deeper in Hole 8 until it has passed through the zone of visible copper mineralization.
ML Gold's understanding of the Stars Property geology is rapidly evolving. ML Gold geologists have now recognized coarse mica (muscovite) alteration, occurring with chalcopyrite-bornite veining in a rare outcrop 150m east of Hole 4, to be part of a high temperature potassic alteration phase. This alteration has also been recognized as part of the potassic alteration footprint within the ore zones of the Highland Valley Copper deposits in south central BC (operated by Teck Resources Ltd.). This new recognition not only validates the potential at the Stars Project, but indicates that there may be multiple porphyry centers present on the Stars Property. ML Gold will prioritize additional step-out drilling to the east, northeast, and southeast of Hole 4 as part of the 2018 drilling program.
Adrian Smith, President of ML Gold comments 'All indications are that the copper porphyry system at the Stars Property is at or near surface, where the most prospective zones could be within the first 300 - 400 metres from surface. This is truly an ideal situation for low cost development, recognizing that discovering a large copper resource, close to surface, in a stable jurisdiction is practically unheard of in the past decade. We are extremely excited to continue drilling and expand on this copper endowed porphyry system that has been hiding just under the surface.'
The Company is in the process of logging, sampling, and shipping the Stars core samples to MS Analytical in Langley, BC for assaying. Results will be made available as soon as possible.
The Stars project is ideally located in central British Columbia in the heart of the province's prolific porphyry belt. Drilling to date by ML Gold has identified a previously unrecognized porphyry system under glacial cover, the full extent of which is still unknown. Based on the extremely positive results encountered by the company on the Stars Project to date, ML Gold will continue to focus its exploration efforts at the Stars Property while evaluating opportunities with its new Palmetto gold resource in Nevada and its 7 Billion tonne Block-103 Iron deposit in Newfoundland and Labrador, Canada.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian company listed on the TSX Venture Exchange, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
ML GOLD CORP.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain 'Forward-Looking Statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target, 'plan', 'forecast', 'may', 'schedule' and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/34776
|Company:||ML Gold Corp.|
|End of News||DGAP News Service|
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