ML Gold Corp. (TSX-V: MLG) (“ML Gold” or the “Company”) is pleased to announce it has intersected a 230 metre interval with visual copper and molybdenum at its Stars project in Central BC. This hole was drilled into target area B (“Target B”) over 1 kilometre (km) west of the previously reported drilling. While observed mineralization in hole 5 is not visually as intense as in hole 4, it is probable that the mineralization is part of the same system identified 1 km to the east, indicating that the system is much larger than previously thought.
Hole 5 (DD18SS005) encountered visible copper and molybdenum mineralization occurring as veins individually ranging from 0.1 – 2 cm wide throughout an interval from 47.2 metres to approximately 277 metres depth before being truncated by a fault zone. The hole continued in variably altered intrusive rock to a total depth of 364 metres. The veins are hosted within monzo-granodiorite similar to that observed in the first 4 holes. Moderate to strong potassium feldspar alteration is present as selvages along the margins of the veins and occasional bornite is observed. True widths of the intervals are not known at this time.
Adrian Smith, President of ML Gold comments “Copper mineralization has now been observed over 1km away from hole 4 and confirms that we have a large system on our hands. Further, detailed logging of hole 4 indicates it could in a high level setting of a copper rich porphyry system. We are seeing copper veining cutting multiple rock types, including earlier copper veins, implying a large scale with multiple pulses of copper rich fluids. We feel extremely lucky that mineralization begins at surface and feel confident that it could extend to significant depth.”
Core from hole 5 will be processed immediately following hole 4. Current logging and sampling of hole 4 is nearing completion and will be immediately shipped to the assay lab where the company anticipates rushing analysis on the samples.
All core samples from the Stars project are being shipped to MS Analytical labs in Langley BC for analysis, results will be made available once they have been received and reviewed for Quality Assurance and Quality Control (“QAQC”).
In addition, the Company is completing a detailed airborne magnetic geophysics survey to further define the target areas within the property and assist in follow up drilling.
The Company has also increased the size of the Stars Project by an additional 1,626 hectares, and separately secured over 1,875 hectares of 100% owned mineral claims immediately to the north of, and adjoining the Huckleberry mining lease currently owned by Imperial Metals Corp.
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.
NEITHER THE TSX VENTURE EXCHANGE 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.
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.