ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) reports it has completed 15 holes in its phase I drill program at the Palmetto Gold Project in Nevada. The primary purpose of the program is to confirm and expand the extensive drilling database currently being modelled, together with the new drilling, to calculate a maiden gold resource at Palmetto.
ML Gold also reports that the internal review and QA/QC procedures in place at the Palmetto Gold Project identified errors in a batch of samples that were previously reported by the assay lab to the Company. This triggered re-analysis of hole PAL-17R01 and backlogged additional samples.
As a result of the reanalysis, a new zone over 21.3 metres (m) at 1.25 grams per tonne (g/t) gold has been identified. This new zone occurs beneath the previously reported interval of 27.4 m at 1.1 g/t and effectively expands the total mineralized interval to 68.6 m at 0.87 g/t (see table below). Hole PAL-1701 was successful in showing that the Discovery zone is still open to depth by intersecting 68.6m of 0.87 g/t gold.
|Hole ID||Azimuth||Dip||From (m)||To (m)||Interval (m)||Gold (g/t)||Silver (g/t)|
|Discovery Zone (Depth extension)|
Andrew Bowering, Chairman of ML Gold comments “Observations from the initial drilling suggest there is a large new area of gold and silver mineralization trending northwest toward an old mercury mine on the property, indicating that more zones could be on this new trend. With the potential for several zones on the property, Palmetto is starting to look very similar to the North Bullfrog deposits currently being operated by Corvus Gold Inc, 150km southwest along the same Walker Lane mineral belt.”
Quality Assurance/Quality Control
Sample preparation and analyses for this program were completed at ALS Minerals Lab in Reno Nevada. Gold was determined by 30g Fire Assay with Atomic Absorption Spectrophotometry (AAS) finish. Other elements were determined by Ultra Trace Aqua Regia digestion with Inductively Coupled Plasma Mass Spectrometry (ICP-MS) finish.
A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards form part of ML Gold’s sampling protocol in addition to the laboratory's own quality assurance program. The field program was supervised by ML Gold staff and contractors and the technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed by Adrian Smith, Director, and a Qualified Person as that term is defined in NI 43-101.
ML Gold Corp. has an option to acquire a 100% right, title and interest to the Palmetto project (see news release dated October 18, 2016). The Palmetto Project is located in Esmeralda County, Nevada, within the southern portion of the Walker Lane Gold Trend.
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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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