The new Matagami-type VMS Camp
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MacDonald Mines Exploration has announced today that the 2010 exploration drilling program on its McNugget Property has discovered new volcanogenic massive sulphide (VMS) mineralization of substance. Preliminary assays are reported below with follow-up full assays pending and will be reported when received. An analysis of technical data completed in February 2010 found magnetic and electromagnetic (“EM”) targets that were not previously explained. During the May portion of the 2010 drilling campaign, a Crone Geophysics‘ down-hole EM system was used for drill target control – it has been established that McNugget VMS horizons show strongest conductivity where copper (Cu) content is highest.
A new VMS camp with characteristics similar to those seen at Matagami or Noranda in Quebec is now conceivable (i.e., larger VMS deposits with satellite deposits along strike).”
Massive sulphides were intersected in all May 2010 drill locations with widths varying from 2m to greater then 30m. One of the drill sites (two holes) on the McNugget Property intersected massive magnetite as well as associated ultra mafic materials. This location is characterized by a long magnetic high (magnetite) with an associated electromagnetic conductor (VTEM). These characteristics are very similar to those of the Freewest/Cliffs chromite discovery. The core from these two intersections is currently being tested for chromite. Additonal geophysics will be planned along this long trend (1.5 kilometres) to aid in interpreting the potential of this zone to host chromite.
Big Mac Property
MacDonald’s February 2010 re-interpretation created an initial program of 5 high-priority high-resolution ground gravity survey transects for both chromium (Cr) and nickel-copper (Ni-Cu) mineralization. Transect models were based directly on known mineralization signatures discovered within the “Ring of Fire”. The Company’s claim block contains both discrete and strike-extensive coincident airborne magnetic-VTEM and gravity anomalies within stratigraphically favorable geological packages with geophysical signatures similar to the significant Cr discoveries of Freewest and KWG-Spider near McFaulds Lake. Three gravity drill targets all exhibited anomalous densities coincident with local magnetic trends and have been interpreted to be steeply plunging dense bodies. Drilling was completed on one these targets in April 2010. Assays are pending. One of the gravity transects identified a density anomaly coincident with a discrete conductivity (VTEM) anomaly and offset magnetic feature that will be drill investigated for nickel.
Hulbert-Salo Property Exhibits Voisey’s Bay-type Targets
MacDonald is designing an exploration program for its highly prospective Hulbert-Salo Property which appears to host an intact intrusive complex with potential for Voisey’s Bay-type targets, as interpreted by Dr. Larry Hulbert. The Company’s airborne geophysical survey (VTEM) outlined very conductive, discrete targets within a layered magnetic structure. The high conductivities observed are typical of magmatic massive sulphides containing nickel. To optimize the Company’s chances of success, a surface time domain geophysical survey is being designed that will focus on the potential nickel targets. A Crone Geophysics‘ system will be used in the event that other more conductive (superconductors) and/or deeper targets were not detected by the airborne survey.
Exploration to Recommence June 2010
The next phase of exploration will commence in late June 2010. MacDonald believes that there is potential for its James Bay properties to host both Nickel and Chrome on the McNugget, Big Mac and Hulbert/Salo Properties.
As the assays become available, 3D target modeling will be based on assays, geology, magnetic susceptibility, conductance and so forth. Further drilling will provide greater detail on three selected VMS targets as well as the strongest potential Ni-Cu targets. It is anticipated that deeper drilling will be required to test the high conductance targets mapped by the geophysical programs used during May.