MacDonald Mines Announces a Drilling Program at Its SPJ Project

Rhea-AI Summary

MacDonald Mines Exploration (TSXV:BMK, OTC:MCDMF) has announced a new drilling program at its 100% owned SPJ Project near Sudbury, Ontario, starting January 2025. The program, planned with Canuc Resources , will comprise approximately 800m of drilling targeting gold mineralization lenses at the North Pit of the Scadding Gold Deposit.

The initiative aims to confirm historically reported gold mineralization zones and explore potential extensions at depth. The North Pit zones are being evaluated as potential source material for the Scadding Tailings reprocessing project by Environmental Tailings (ETC), following an agreement announced in November 2022.

This program represents an initial step toward estimating a mineral resource for the North Pit's gold zones. Future exploration will focus on testing the McLaren Fault Zone's potential for iron-rich copper-gold mineralization in the Alwyn area, building on encouraging results from the 2023 drilling program.

Positive

• Partnership with Canuc Resources for drilling program
• Potential expansion of known gold mineralization zones
• Progress towards mineral resource estimation
• Integration with existing tailings reprocessing agreement

Negative

• No current mineral resource estimates available
• Results dependent on successful drilling outcomes

TORONTO, ON / ACCESSWIRE / January 9, 2025 / MacDonald Mines Exploration Ltd. (TSXV:BMK)(OTC PINK:MCDMF)("MacDonald Mines" or the "Company") is pleased to announce a drilling program that will begin in January 2025 on MacDonald Mines 100% owned SPJ Project, near Sudbury, Ontario.

The 2025 drilling program, planned in collaboration with Canuc Resources Corporation ("Canuc"), consists of approximately 800 m of drilling that will target the lenses of gold mineralization associated with the North Pit of the Scadding Gold Deposit located on the SPJ Project. In December of 2024 Canuc and MacDonald signed a letter of intent (the "LOI") whereby Canuc intends to acquire all of the issued and outstanding shares of MacDonald Mines.

The objective of the drilling program is to confirm the historically reported tenors for the gold mineralization zones of the North Pit area of the Scadding Gold Deposit (see press release of May 31, 2024) and to find extensions to the known zones of gold mineralization at depth.

The mineralized zones of the North Pit are being evaluated as potential source material for the Scadding Tailings reprocessing being undertaken by Environmental Tailings Corporation ("ETC"). An agreement between ETC and MacDonald for the reprocessing and reclamation of the Scadding Tailings was announced on November 15, 2022. This drilling program is intended to mark a first step towards the estimation of a mineral resource for the gold zones of the North Pit of the Scadding Gold Deposit.

Future exploration programs on the SPJ property will be designed to the test the potential of the McLaren Fault Zone to host significant zones of iron-rich copper-gold mineralization affiliated with iron oxide-copper-gold deposits in the Alwyn area. This follows from the encouraging results and the subsequent interpretations of the 2023 drilling program. Contingent on positive results from the drilling program, future exploration will also continue to test the zones of mineralization of the North Pit of the Scadding Gold Deposit in preparation of a mineral resource estimation.

Qualified Person

Jean-François Montreuil, P.Geo., Chief Geologist of MacDonald Mines, is the qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for preparing, supervising, and approving this news release's scientific and technical content.

About MacDonald Mines Exploration Ltd.

MacDonald Mines is a Canadian exploration company focused on exploring for critical and precious metals in a Metasomatic Iron alkali-calcic (MIAC) mineral system on its 100%-owned, 19,720 ha (197.2 km²) SPJ Project. MIAC systems are known for hosting IOCG and affiliated deposits. The property is located 20 km southeast of the prolific Sudbury Mining Camp in Northern Ontario. The Company's primary exploration focuses are the polymetallic and iron-poor to possibly iron-rich Ag-Au-Cu-Co showings and prospects along the McLaren Lake Fault System that includes the Alwyn Cu-Au-(Ag-Co) trend and the Ashigami Co-Cu-Au showings, and the iron-rich to iron-poor Glade Au trend recognized to host Au mineralization comparable to the Scadding deposit. In addition, a potential for nickel, cobalt, copper, and platinum group elements in the Nipissing intrusions that are hosting the Candore, Jerome and Glade showings within the SPJ Project.

To learn more about MacDonald Mines, please visit www.macdonaldmines.com

ON BEHALF OF THE BOARD

"Mike England"

Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 TollFree:1-888-945-4770

E-mail: mike@engcom.ca

Forward-Looking Statements

This news release may contain certain "forward looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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.

SOURCE: MacDonald Mines Exploration Ltd.

View the original press release on accesswire.com

FAQ

What is the size of MacDonald Mines' 2025 drilling program at SPJ Project?

The 2025 drilling program consists of approximately 800 meters of drilling at the North Pit of the Scadding Gold Deposit.

When will MCDMF begin its new drilling program at the SPJ Project?

The drilling program is scheduled to begin in January 2025.

What is the main objective of MCDMF's 2025 North Pit drilling program?

The objective is to confirm historically reported gold mineralization zones and find extensions to known zones at depth, working towards a mineral resource estimation.

How does the 2025 drilling program relate to MCDMF's agreement with ETC?

The mineralized zones being explored could serve as potential source material for the Scadding Tailings reprocessing project being undertaken by Environmental Tailings (ETC).

What are MCDMF's future exploration plans for the SPJ property?

Future exploration will focus on testing the McLaren Fault Zone for iron-rich copper-gold mineralization in the Alwyn area, based on encouraging 2023 drilling results.