MacDonald Mines Recommences Drilling Program on 5 Project Areas in Ring of Fire; Employs Advanced Modeling Process of Targets
TORONTO, September 22, 2008 - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald" or the "Company") is pleased to announce it has re-commenced it's 2008 drill program, focusing on multiple priority geophysically defined targets across five project areas in the "Ring of Fire" District of the James Bay Lowlands. The drill program will operate through to the end of October 2008, with approximately 40 holes and approximately 8,000 metres drilled by program end.
The drill program was paused at Labour Day weekend in order to give drill and camp personnel a much-needed rest and catch up on core logging and sampling. Core from August drilling has been sent to the labs for analysis.
Drill Location Update
Drilling began, and is still ongoing, on MacDonald's 100% owned McNugget Property. The drill is scheduled to move to the next project zone as early as next week once remaining targets have been drilled. The next project zone will be "Wellington". The Company has agreed to rent the Fish Basket Camp from the Summer Beaver First Nations, and will utilize this facility as a base camp for exploration on the Wellington Property. A number of high priority targets have been defined and modeled, and ready for drill testing.
Advanced Modeling Process Now Being Employed
MacDonald Mines has now fully engaged the use of an advanced modeling process that will allow the Company to identify, prioritize and drill targets without employing traditional ground geophysics. The benefits of this new modeling process are significant to MacDonald's exploration process, as it now allows the Company to efficiently locate targets at greater depths, with improved accuracy, clarity and at significantly reduced costs.
Since employing the new computer modeling techniques, the Company has seen a dramatic increase in the percentage of successful "hits" of mineralization on the most recent holes drilled, intersecting more sulphides then the past and at greater depths. Through this modeling process, the Company has been able to verify the conductive source of its targets in every instance.
Bill Nielsen, P.Geo, is the designated qualified person for the technical information contained in this press release.
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
For further information:
MacDonald Mines Exploration Ltd.
Brent Nykoliation, Director, Business Development
J. A. Kirk McKinnon, President and CEO
Richard Schler, Vice President & CFO
(800) 818-5442
(416) 364-4986
(416) 364-2753 (FAX)
Email: info@macdonaldmines.com
Website: www.macdonaldmines.com
Renmark Financial Communications Inc.
Neil Murray-Lyon : nmurraylyon@renmarkfinancial.com
Ryan van de Polder : rvandepolder@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
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MacDonald Mines Exploration Ltd
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EXPLORATEUR |
CODE : BMK.V |
ISIN : CA5543243011 |
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MacDonald Mines est une société d’exploration minière d'argent et d'or basée au Canada. MacDonald Mines détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont WORTHINGTON, BIG MAC/MACNUGGET, CASSON LAKE / BRUNNE STRINGER, MCFAULDS LAKE PROJECT et SPIDER #3 (MCFAULD'S LAKE) au Canada. MacDonald Mines est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 2,4 millions CA$ (1,8 millions US$, 1,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 22 novembre 1996 à 7,30 CA$, et son plus bas niveau récent le 09 décembre 2022 à 0,01 CA$. MacDonald Mines possède 60 000 000 actions en circulation. |