VANCOUVER, BC--(Marketwired - June 28, 2017) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (BDWYF) (BGH.F) ("Broadway" or the "Company") is pleased to report additional assay results from the Phase II surface drilling campaign at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana, USA.
Highlights of the results include:
- 3.122% Cu and 4.288 grams per tonne (g/t) Au over 9.1 meters in hole C17-10
- 1.391% Cu and 0.361 grams per tonne (g/t) Au over 9.1 meters in hole C17-12
"Surface drilling continues to expand the areas of significant mineralization on the Madison property. Results to date demonstrate that high-grade sulfide mineralization exists in the area adjacent to our underground infrastructure, and we now see indications of a potential second nearby massive sulfide zone in drill hole C17-10," said Duane Parnham, President and CEO of Broadway Gold Mining. "It is also encouraging to see assaying increasing the strike length of the mineralized jasperoid to the northwest. Assay results also provide us with enticing drill targets for the resumption of drilling. We look forward to releasing additional geological data and interpretations in support of a comprehensive proposed geological model for the Madison property."
Surface hole C17-10 encountered a 9.1-meter section of massive to semi-massive sulfide 50 meters to the southwest of the 600-level massive sulfide zone, suggesting the presence of additional massive sulfide zones in the vicinity of the Madison workings. Drilling also confirms the continuation of the jasperoid horizon in the skarn to the northwest. The skarn appears to be highly zoned, with both gold-rich and copper-rich areas. Assays results remain outstanding for four surface holes from the Phase I 2017 surface program.
Assay Results Summary
| Hole | | | | From | | To | | Interval | | Copper (%) | | Gold |
| | (ft) | | (m) | | (ft) | | (m) | | (ft) | | (m) | | | (g/t) (oz/t) |
| C17-10 | | | | 452 | | 137.8 | | 482 | | 146.9 | | 30 | | 9.1 | | 3.122 | | 4.288 | | 0.125 |
| C17-12 | | | | 540 | | 164.6 | | 570 | | 173.7 | | 30 | | 9.1 | | 1.391 | | 0.361 | | 0.011 |
| | | including | | 540 | | 164.6 | | 555 | | 169.2 | | 15 | | 4.6 | | 2.410 | | 0.680 | | 0.020 |
| C17-14 | | | | 410 | | 125.0 | | 431 | | 131.4 | | 21 | | 6.4 | | 0.140 | | 2.467 | | 0.072 |
| | | including | | 413 | | 125.9 | | 419 | | 127.7 | | 6 | | 1.8 | | 0.154 | | 8.255 | | 0.241 |
| C17-15 | | | | 438 | | 133.5 | | 447 | | 136.2 | | 9 | | 2.7 | | 0.002 | | 1.578 | | 0.046 |
| | | and | | 462 | | 140.8 | | 486 | | 148.1 | | 24 | | 7.3 | | 0.230 | | 0.812 | | 0.024 |
| C17-19 | | | | 350 | | 106.7 | | 359 | | 109.4 | | 9 | | 2.7 | | 0.007 | | 3.263 | | 0.095 |
| | | and | | 395 | | 120.4 | | 407 | | 124.1 | | 12 | | 3.7 | | 0.004 | | 1.977 | | 0.058 |
| | | and | | 629 | | 191.7 | | 632 | | 192.6 | | 3 | | 0.9 | | 0.000 | | 4.070 | | 0.119 |
| | | and | | 728 | | 221.9 | | 761 | | 232.0 | | 33 | | 10.1 | | 0.115 | | 2.990 | | 0.087 |
| | | including | | 728 | | 221.9 | | 731 | | 222.8 | | 3 | | 0.9 | | 1.160 | | 26.800 | | 0.782 |
| | | including | | 758 | | 231.0 | | 761 | | 232.0 | | 3 | | 0.9 | | 0.030 | | 5.570 | | 0.162 |
The true thickness of the copper and gold zones have not yet been established
The complete assay results for the intervals, drilling plan and sections can be found on the landing page for today's press release (see also: http://broadwaymining.com/nr-2017-06-28/).
The copper-gold interval in C17-10 was contained within a sulfide-rich section of larger epidote skarn. Mineralization ranged from 1% to 40% pyrite, 0% to 20% pyrrhotite, 0% to 15% magnetite and 0% to 30% chalcopyrite. The sulfide content gradually decreases away from massive sulfide zone. This sulfide rich zone is well to the southwest of the 600-level massive sulfide, suggesting either faulting or potentially multiple sulfide pods.
The copper interval in C17-12 was contained within a 4.55-meter jasperoid zone and continued an additional 4.55 meters into the Radar Creek intrusive. The strongest copper mineralization was found in the jasperoid zone and consisted of native copper and copper oxides.
The interval in C17-14 was contained within a 5.49-meter jasperoid zone containing copper oxides and also in 0.9 meters of marble immediately overlying the jasperoid.
The copper interval in C17-15 was contained within a 7.3-meter jasperoid zone showing no visible copper mineralization. A 2.7-meter gold-rich zone was located within the overlying marble immediately above a gossanous fault zone.
Four gold-rich intervals were encountered in C17-19. The uppermost zone was located in a marble limestone breccia immediately above a quartz feldspar porphyry dyke, suggesting the gold mineralization may be related to the emplacement of the dyke. The second gold zone of 3.7 meters was found in an epidote-diopside-garnet skarn breccia carrying 5% to 15% sulfides. The 10.1-meter gold zone deeper in the hole was hosted by an epidote-diopside-garnet skarn with higher gold values at the top and bottom of unit, seemingly associated with rubbly core, suggesting faulting.
All analyses were completed at the ALS Minerals Laboratory in North Vancouver, British Columbia, an ISO/IEC 17025:2005 certified facility. Broadway is utilizing a program of third-party standards and blanks inserted at regular intervals through the sample stream as its QA/QC program. AK Drilling, Inc. of Butte, Montana is the contractor performing the surface drilling programs.
Sample Preparation and Quality Control
Supervision, organization and splitting of drilling core samples were undertaken by company personnel. Samples were collected at three-foot intervals from half core samples. Samples were catalogued by Broadway geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each drill hole at random intervals. Blank material was also inserted at random intervals. Samples were packed into rice bags, zap strapped and securely stored until they were turned over to the local trucking company for transport to the ALS Minerals Laboratory in North Vancouver, B.C.
Laboratory Quality Assurance/Quality Control
Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-904, OREAS-45b, OGGeo08 and PGMS25. No issues were noted with analytical accuracy or precision.
Assay Techniques
Three different assay procedures were designed by ALS Minerals for the samples, based on the presence of copper sulfides or oxides, and native copper. The standard assay procedure of Au-ICP21 and Cu-ICP61 was applied to most of the samples. Au-ICP21 is a 30 gram fire assay with an ICP-AES finish. ICP61 is a four acid digestion of a one gram sample with an ICP finish. Samples with visible copper mineralization received a Cu-OG62 copper analysis, a four acid digestion of a 0.5 grams sample with ICP-AES finish. OG62 has a copper range from 0.001 to 40%, while the ICP61 analysis has a copper maximum range of 10,000 ppm. Samples with visible native copper received a duplicate Cu-OG62 analysis that included a WSH-22 procedure where the pulverizers are cleaned with barren material after every sample. Over-limit copper values from the ICP61 analyses received an OG62 procedure to determine the final Cu grade.
Qualified Person
R. Tim Henneberry, P.Geo., a Director of Broadway and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with advanced exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine's perimeter, the company's exploration program has identified new anomalies across its extensive land package that provide compelling drill targets that are believed to be associated with large-scale porphyry mineralization.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Broadway are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Broadway's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Broadway with securities regulators. Broadway expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. 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.
Image Available: http://www.marketwire.com/library/MwGo/2017/6/28/11G141979/Images/Drill-Plan-June-28-NR-98e0497a267da6c6bb8208c52e1b3664.jpg