Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (“Broadway” or the “Company”) announced today that, as a result of its recent porphyry discovery (as announced October 26, 2017), the Company has staked additional ground to cover favorable geological and geophysical targets in the area of its 100%-owned Madison copper-gold project.
Broadway Gold Mining Ltd. (TSXV:BRD,OTCQB:BDWYF) (“Broadway” or the “Company”) announced today that, as a result of its recent porphyry discovery (as announced October 26, 2017), the Company has staked additional ground to cover favorable geological and geophysical targets in the area of its 100%-owned Madison copper-gold project.
The new claims are contiguous to the south of Broadway’s active exploration area and extend the current Madison property footprint to a total of 2,514 acres (see claim map below and on the projects overview page of the Company’s website). Deeper geophysical targets from the 2017 survey appear to trend through the original property boundary onto the newly acquired claims.
“This strategic staking enhances our control in the area of the Madison project while significantly increasing the project’s potential for discovery of additional porphyry and near-surface copper-gold zones in areas of known mineralization,” said Duane Parnham, President and CEO of Broadway Gold Mining Ltd. “Broadway’s technical team will begin the initial evaluation of our newly acquired claims through surface sampling, mapping and geophysics with the objective of incorporating the lands into our geological model and locating additional priority targets for follow-up drilling.”
Recent drilling success intercepted a mineralized quartz latite porphyry intrusion, potentially responsible for driving the broad zone of skarn-jasperoid mineralization found at surface.
The new claim block will cover both the southern extension of a large chargeability anomaly and the Green Campbell Fault Zone, which defines a thrust fault between Archean basement rocks and skarn-jasperoid altered and mineralized Devonian and Mississippian carbonate rocks.
The east side of the new claim block hosts a thick section of Cretaceous Elkhorn Mountain Volcanics andesite-latite flows exhibiting pervasive, moderate to strong propylitic alteration suggesting the system may extend under volcanic cover further south than originally thought. The western side of the new claim block is hosted by Archean metamorphic rocks exhibiting broad zones of moderate to strong propylitic alteration as seen on the east side of the new claim block.
Phase III drilling is continuing (see news releases dated September 18, 2017) and Broadway is fully funded for completion of the program.
R. Tim Henneberry, P.Geo., Broadway’s Geologist and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with advanced exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine’s perimeter, the company’s exploration program has identified new anomalies across its extensive land package that provide compelling drill targets that are believed to be associated with large-scale porphyry mineralization.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Broadway are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Broadway’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Broadway with securities regulators. Broadway expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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