ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) is pleased announce that drill crews have been mobilized on site to begin a 4000 metre, 10 hole summer drilling campaign as part of a follow-up Phase 2 drilling program at the Stars copper porphyry project in central BC. This drill program expands on the successful Phase 1 program completed.
Zone 4 Area
Following ML Gold’s recent financing (see news dated July 4, 2018) the Company will continue drilling Hole 8 (DD18SS008) (see news dated May 23, 2018). The Company previously elected to leave the drill set-up on Hole 8 as visible copper mineralization was increasing in concentration with depth (See Figure 1 from current bottom of hole). Hole 8 is collared 50 metres (“m”) west of Hole 4 (DD18SS004) which intersected 204m @ 0.5%CuEq, and lies on the west-side of a 1 kilometre (“km”) by 700m wide high-chargeability feature that is part of an approximately 3km anomalous chargeability corridor open to the north and south. Following the completion of Hole 8, additional drilling will begin at 100m spaced intervals covering the anomalous chargeability area associated with copper mineralization (see Figure 2).
The focus of the Phase 2 drilling will be to further understand the structural controls on the copper mineralization and target the newly recognized high temperature potassic (muscovite) alteration associated with bornite and chalcopyrite veining within the large chargeability feature (see Figure 2).
Additional maps of Zone 4 are available on the Stars Project page at www.mlgoldcorp.com.
Central Target Area
In addition to the Phase 2 drilling at Zone 4, the Company will continue to explore the anomalous magnetic highs within the middle of the 5km magnetic ring feature (“Central Target Area”). Observations from Hole 7 (DD18SS007) confirmed that the mineralizing system is extensive and transitions from copper dominated to molybdenum dominated mineralization at depth. The molybdenum rich zone may represent a molybdenum core to the copper mineralization where additional drilling is required.
Adrian Smith, President of ML Gold comments, “We are excited to begin with the next stage of exploration drilling at the Stars Copper Project. In this next program we will focus on the large chargeability anomaly in area we are now calling “Zone 4”. We know that large areas within the chargeability anomaly are associated with copper porphyry style mineralization and now we have the opportunity to drill there.”
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 listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
ML GOLD CORP.
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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.