MacDonald Stuns with Thursday Gains

MacDonald Stuns with Thursday Gains

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, February 27, 2020

Stocks are very much in the dark Thursday, some indexes seeing sharp losses not witnessed since the financial crisis of 2008.

But not all news is bad. Toronto-based MacDonald Mines Exploration Ltd. (TSX-Venture:BMK) shed the bad vibes by midday and actually gained, having announced a strong start to its 2020 definition drilling program in the North Pit area. Hole SM-20-026 intersected 59.2 g/t gold over 19.07 metres (m) in the Bristol Structure, 18 metres north-east of the intersection of 52 g/t gold over 12 metres in SM-19-001. 

Thursday’s news release also said the ongoing 2020 drilling program is well underway with nine holes drilled so far. 

Said CEO Quentin Yarie, “The first hole of our 2020 drilling program confirms the presence of significant high-grade gold mineralization in the North Pit area of the Scadding Deposit. Holes SM-19-001 and SM-20-026 indicate continuity for a zone of exceptionally high-grade gold mineralization discovered in the North Pit area. 

“This reinforces the potential for a near-surface high-grade gold resource in the North Pit area as our on-going 2020 drilling program continues to expand the footprint of gold mineralization.”

BMK shares defied the general negative trend, and gained two cents, or 25%, to 10 cents, on volume of 9.2 million shares 

 


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