MacDonald Mines Exploration Ltd. (TSXV:BMK) has launched its campaign on the Investing News Network’s resource channel.
MacDonald Mines is a mineral exploration company that owns the 17,720-hectare SPJ gold project located near the mining-friendly city of Sudbury, Ontario. The SPJ project is accessible year-round due to solid infrastructure in the area including road, rail, power and a skilled workforce. SPJ is home to the past-producing Scadding mine, which produced 914 kg of gold from 144,000 tons of mineralized material grading 7.43 g/t gold during the 1990s. Macdonald Mines intends to bring the Scadding mine back into production in order to capitalize on the recent rise in gold prices.
MacDonald Mines recently confirmed the presence of iron oxide-copper-gold (IOCG) style mineralization at the Scadding deposit, which is helping the company to build a predictive model for targeted exploration on the project. Highlights from recent exploration on the property include 6.14 meters grading 11.10 g/t gold and 1.8 meters grading 3.29 g/t gold. These results were incorporated into a 2019 NI-43 101 technical report which suggested a two-phase exploration plan moving forward.
MacDonald Mines’ company highlights include the following:
- MacDonald Mines owns 100 percent of a substantial land package in a mining-friendly jurisdiction near Sudbury, Ontario.
- The SPJ project is close to key infrastructure such as rail, road, power, a skilled workforce, and is accessible year-round.
- The past-producing Scadding mine reportedly produced 914 kg of gold from 144,000 tons of mineralized material grading 7.43 g/t gold during the 1990s.
- MacDonald Mines has the potential to bring the Scadding mine back into production quickly.
- The SPJ project is located within 500 meters of the historical Norstar mine, which reportedly produced 63,000 tons of ore grading 7.2 g/t gold and 0.9 percent copper.
- MacDonald Mines believes that the project has the potential to host an IOCG-style deposit.
- Ongoing exploration is focused on confirming the presence of an IOCG-style deposit on the property.
- Eric Sprott has made a C$1.5 million investment into MacDonald Mines.