ML Gold Corp. (TSX-V: MLG) (“ML Gold” or the “Company”) is pleased to announce it has commenced a winter drilling program on its recently acquired Stars property (the “Property” or “Stars”) (see news release dated November 22, 2017).
The Stars property is approximately 40 kilometres south-west of Houston, BC and lies within a highly prosperous porphyry belt passing through central BC. Year-round road access and limited snow accumulations make all-season operations possible. Currently, ML Gold has mobilized a diamond drill rig to the property and drilling is underway. The crew has set-up base in Houston BC, a short drive from the property, where local resources are available to support the drilling program. The program will consist of 2,500 metres of drilling in five to six drill holes designed to test copper-gold-silver-molybdenum mineralization identified at and near surface to depth.
The Stars property hosts highly anomalous chargeability over an area of at least 3 by 4 kilometres and is open in multiple directions. Extensive copper mineralization is visible where the bedrock outcrops through the glacial cover in the low lying areas. Of only 9 historic shallow holes drilled on the property, one ended in 0.56% copper at only 110 metres, and another over one kilometre away returned 142 metres @ 0.25% copper (not assayed for gold). Considering the shallow nature of the historic drilling, there is a high probability that deeper drilling will identify a vertically extensive mineralizing system responsible for the high level style of mineralization including chalcocite-bornite-chalcopyrite observed at and near surface.
Adrian Smith, President of ML Gold comments “We are thrilled by the speed in which our team was able to bring together the property, permitting, and resources necessary to give our shareholders exposure to drill what could be a significant new porphyry discovery in BC. We are excited by the quality and prospectively of the project that we have acquired and believe that the Stars will play a key role in the resurgence of this prolific mining district in the highly resource friendly jurisdiction of central BC.”
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.
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.