ML Gold Corp. (TSX-V: MLG) (“ML Gold” or the “Company”) is pleased to report it has intersected three long intervals with visible copper sulphide in the second, third, and fourth drill holes at its ongoing program at the Stars Project near the Huckleberry Mine in central BC. Significantly, drill hole four, collared 150 metres to the southeast from drill hole one, and drilling east, has intersected a 300 metre interval, from 25.2 to 325.2 metres depth, with visible chalcopyrite as veins and disseminations including massive chalcopyrite mineralization.
Highlights from drilling:
- All mineralization encountered to date begins at or close to surface, hidden by a thin layer of glacial till (average 20-25 metres).
- Multiple events of copper mineralization have been observed, evident from cross-cutting relationships of chalcopyrite rich veins.
- Copper mineralization is hosted within volcanics and intrusive rocks with an apparent spatial association to various phases of porphyritic and apalitic dykes.
- Visually identified mineralization in the first four drill holes is comprised predominately of chalcopyrite with little pyrite.
- Chlorite-sericite-muscovite alteration associated with chalcopyrite rich quartz veins, possibly indicates current drilling is within a zone above or beside higher temperature potassic core.
DD18SS004 enters bedrock at 21.3 metres within mineralized volcanics and transitions into mineralized monzodiorite to granodiorite intrusive rock of the Bulkley Intrusive Complex (BIC), similar to the host rock at the Huckleberry Mine. Visible copper mineralization is observed throughout the interval to a depth of 325.2 meters. The hole then remains within the intrusive rock to the bottom of the hole at 367.9 metres.
DD18SS003 entered bedrock at a depth of 23.4 metres. Downhole, copper sulphide mineralization occurs in veins and as disseminations and blebs of chalcopyrite. Visible mineralization occurs throughout the interval to a depth of 254.8 metres. The hole remains within intrusive rock to a total depth of 438 metres.
DD17SS002 entered bedrock at a depth of 24.1 metres with visible copper oxide mineralization at surface. Downhole, copper sulphide mineralization occurs in veins ranging in size from 0.1 to 15 centimetres (cm) and as disseminations of chalcopyrite and less bornite. Visible mineralization occurs throughout the interval to a depth of 300.8 metres. The hole remains in intrusive rock to a total depth of 363.3 meters.
Adrian Smith, President of ML Gold commented “We are extremely pleased with first four holes of the program. Hole four is the most impressive hole to date and there is no indication we have drilled within the best zone of this porphyry system yet.”
True widths of the mineralized zones intersected are unknown at this time. Core is being processed and assays will be reported as soon as possible.
For greater information on this project and to view maps, sections, and additional pictures from the drill holes, please visit the Company’s website or follow the URL:
http://www.mlgoldcorp.com/index.php/projects/stars-property
Qualified Person
Adrian Smith, P.Geo., is the qualified person for the Company as that term is defined in National Instrument 43-101, and has supervised the technical information presented within this news release.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian company listed on the TSX Venture Exchange, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
For additional information please visit the Company’s website at www.mlgoldcorp.com. You may also email This email address is being protected from spambots. You need JavaScript enabled to view it. or call investor relations at (604) 669-2279.
ML GOLD CORP.
“Andrew Bowering”
Andrew Bowering
Chairman
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
Figure 1: Blebby chalcopyrite with quartz hole 4 at Stars Property (25.3metres)
Figure 2: Massive chalcopyrite (copper) with quartz vein in hole 4 at Stars Property (64.9metres)
Figure 3: Massive Chalcopyrite with quartz in hole 4 at Stars Property (115.8metres)
Figure 4: Chalcopyrite in quartz vein in hole 4 at Stars Property (315.2meters)