oligator : MACDONALD MINES (358692)
MacDonald Mines Plans November Drill Program on Nickel Targets in Webequie District of James Bay
TORONTO, ONTARIO, Oct 11, 2007 (MARKET WIRE via COMTEX News Network) --
MacDonald Mines Exploration Ltd. (TSX VENTURE: BMK) -
MacDonald Mines is pleased to announce that it has started its fall 2007 exploration program. The program will include an airborne survey, ground geophysical surveys and a 2000 meter diamond drill program. Please see the Company's website www.macdonaldmines.com for a detailed overview of the program.
FALL 2007 EXPLORATION PROGRAM - McNUGGET & MACDONALD/TEMEX/BALTIC JOINT VENTURE PROPERTIES
RE-INTERPRETATION OF McNUGGET & BIG MAC PROPERTIES AIRBORNE GEOPHYSICAL SURVEY FOR NICKEL/COPPER TARGETS
With the recent nickel discovery by Noront, the Company has retained Scott Hogg, President of Scott Hogg & Associates Ltd. to review and reinterpret the existing MacDonald airborne survey flown in 2004 and identify potential nickel targets.
In 2004, MacDonald contracted a helicopter -borne time-domain electromagnetic survey that was flown at 75 and 50 meter line spacing over the Big Mac and McNugget properties which provided comprehensive and detailed target information. The survey was subsequently interpreted for potential copper/zinc deposits given the VMS discovery at McFauld's Lake. A preliminary re-interpretation of the McNugget airborne indicates that there are many excellent nickel targets on the McNugget Property. The upcoming exploration program plans to drill at least 7 of the identified targets on the McNugget Property.
AIRBORNE SIGNATURES ON NEWLY ACQUIRED GROUND - MACDONALD/TEMEX
The Noront nickel discovery area, including the recently staked proximal MacDonald/Temex claims, had a previous airborne survey, which was flown at 300 meter line spacing. The survey identified several targets on the MacDonald/Temex ground, which have a similar geophysical signature to the Noront discovery. These targets will also be drilled during the upcoming program.
DIAMOND DRILL PROGRAM
The diamond drill program has been scheduled to commence on November 1, 2007. The planned program consists of 10-15 holes totalling 2,000 meters. Cartwright Drilling has been contracted to carry out the required drilling and the drill is already situated on the McNugget Property. Cartwright has conducted all the previous drilling for the Company in the James Bay Lowlands.
Bill Nielsen, P. Geo. will oversee the overall exploration program on behalf of MacDonald Mines and its joint venture partners, Temex and Baltic.
Field exploration will be managed by Randy Salo, P. Geo. in consultation with Bruce Durham, P. Geo. of Temex Resources and Hadyn Butler, P. Geo. and Director of MacDonald Mines.
EXTENSIVE AIRBORNE SURVEY
MacDonald Mines (as the operator of the Temex/MacDonald and Baltic/Temex/MacDonald joint venture projects) is now coordinating an extensive airborne geophysical survey over the newly staked claim blocks. This airborne survey is scheduled to commence on October 14, 2007. Fugro Airborne Surveys has been contracted to conduct a HeliGEOTEM time-domain electromagnetic survey over the newly acquired property at 100 meter line spacing.
Line cutting of control grids is underway and ground geophysical surveys including Max-Min, EM and magnetics will follow immediately to confirm the location and quality of airborne targets. The ground survey work has been contracted to Exsics Exploration (Timmins) and helicopter support will be provided by Expedition Helicopters (Cochrane).
FIRST NATIONS COMMUNITY OF WEBEQUIE
The Company will operate its base camp out of the First Nations Community of Webequie, which is a 15 minute helicopter ride from the McNugget Property.
This is now the seventh program the Company will have conducted using the community of Webequie as a base camp. The Community provides both infrastructure and personnel to support the exploration programs. We would once again like to take this opportunity to thank Chief Scott Jacob and the Community for their continued support and assistance.
MACDONALD MINES - JAMES BAY PROPERTY HOLDINGS
MCNUGGET PROPERTY ADDITIONS
MacDonald has acquired 19 additional claim blocks representing approximately 4,400 hectares which expands the Company's current McNugget Property to 55 claim blocks covering an area of approximately 13,000 hectares.
BIG MAC PROPERTY ADDITIONS
MacDonald has acquired 15 additional claim blocks representing approximately 3,750 hectares which expands the Company's current Big Mac Property to an area in the order of 12,650 hectares.
MacDonald owns a 100% interest in the above mentioned McNugget and Big Mac claims.
MACDONALD/TEMEX 50/50 JOINT VENTURE LAND ACQUISITION
In a 50-50 joint venture with Temex Resources Corp, MacDonald has acquired 12 separate parcels of land totaling 97 claim blocks which represent approximately 24,000 hectares.
BALTIC/MACDONALD/TEMEX 50/25/25 JOINT VENTURE LAND ACQUISITION
In a 50-25-25 joint venture with Baltic Resources Inc. (50%) and Temex Resources Corp. (25%), MacDonald (25%) has acquired 3 separate parcels of land totaling 50 claim blocks which represents approximately 12,500 hectares.
This brings MacDonald Mines total land position in the James Bay Region to about 62,150 hectares, which is either owned 100% by MacDonald or owned in conjunction with JV partners. All property additions were staked to reflect optimum geological settings for potential nickel/copper deposits and include property which is contiguous to the recent Noront Double Eagle spectacular nickel/copper discovery. (see Noront press release dated September 27, 2007).
This land acquisition strategy positions MacDonald with further nickel-sulphide-potential properties, new skilled experienced business partners and strategic risk spreading for this important mining region of Ontario.
PREVIOUS MACDONALD EXPLORATION RESULTS INCLUDING INTERSECTION OF NICKEL MINERALIZATION
Nickel sulphide discoveries on the McNugget Property (see press release of June 14, 2007 in which Hole MN-07-39 intersected 4.5m grading 0.36%Ni and a further 22.5meters down the hole an intersection of 27.0 meters averaging 0.26%Ni.).
VMS Discoveries (see press release of Jan. 24, 2005, Hole MN-4 intersected 6.7m averaging 1.55% Zn, press release of June 7, 2006 in which it was announced that Hole MN06-18 intersected 6.49m averaging 0.64%Cu and 2.92%Zn and press release of June 14, 2007 where intersections of up to 0.57% Cu and 7.94% Zn were intersected over 1.5m in Hole MN07-28).
Mr. Milton Snow, a long time shareholder and Director offered his resignation to the Board of Directors on October 04, 2007. We would like to take this opportunity to thank Milt for his support and contribution, particularly, through the challenging years and wish him all the best as he spends more time with family and friends. We know Milt will continue to keep a close watch over us.
The Board of Directors is pleased to announce that Mr. Elgin Wolfe has agreed to join MacDonald Mines as a Director effective October 05, 2007. Elgin brings years of business experience primarily in the real estate/development sector to the Board and is also involved with other Junior Exploration Companies.
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.
Contacts: MacDonald Mines Exploration Ltd. J. A. Kirk McKinnon President and Chief Executive Officer (416) 364-4986 MacDonald Mines Exploration Ltd. Richard Schler Vice President & CFO (416) 364-4986 (416) 364-2753 (FAX) Email: info@MacDonaldMines.com Website: www.MacDonaldMines.com
SOURCE: MacDonald Mines Exploration Ltd.
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