MacDonald Mines Hikes on New Discoveries

MacDonald Mines Hikes on New Discoveries

By: Tomas Ronolski - AllPennyStocks.com News

Monday, December 9, 2019

Miners are enjoying trumpeting their success as the days dwindle down before Christmas

Toronto-based MacDonald Mines Exploration Ltd. (TSX-Venture:BMK) came out Monday with results from four holes of its now completed Fall 2019 drilling program at the Company’s SPJ Property, 40 kilometres east of Sudbury, Ontario.

Results are highlighted by hole SM-19-022 with the discovery of a significant zone of near-surface gold mineralization north of the Scadding East-West Pit - 7.99 g/t gold over 26.2 metres including 10.98 g/t over 4.98 metres and 11.54 g/t over 13.24 metres was intersected from 16 to 42 metres depth. In all, 25 holes have been completed with nine holes reported to date. The remaining 16 holes are being processed and assay results will be announced as they are received.

CEO Quentin Yarie commented: “Our 2019 drilling program shows that significant zones of near-surface, high-grade gold mineralization are present beyond the original footprint of the historic operations of the Scadding Deposit. 

“Having successfully completed the first phase of our diamond drilling program at Scadding, we will now finalize the logging of all remaining drill holes, update our geological model of the deposit and define the next targets for the budgeted early 2020 diamond drilling campaign.”

Shares in BMK jumped a penny, or 11.8%, to 9.5 cents, on 2.3 million shares. 


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