ML Gold Corp. (TSX-V: MLG) (“ML Gold” or the “Company”) announces it has received permits to conduct step-out drilling at the Stars Project in Central BC. The fully permitted drilling will continue to test the newly identified copper-molybdenum-gold-silver porphyry system under-cover at the Stars Property. Drilling will be dual purposed, focusing on expanding the high grade copper mineralization identified within the recently announced DD18SS004 (“Hole 4”) area (or “Zone 4”), and separately testing multiple targets within the wide Central Target area.
The Company is also pleased to announce it has expanded the area of visible copper mineralization in DD18SS008 (“Hole 8”) which is a 50 metre step-out to the west of Hole 4. Hole 8 has encountered visible copper veining with increasing intensity down hole and is currently stopped in visible copper mineralization at 294.7 metres. The copper mineralization observed occurs as chalcopyrite only, and chalcopyrite-quartz veins with minor pyrite and quartz-sericite to potassic alteration halos. The Company has left the drill set up on Hole 8 while it goes on a short break and plans to continue drilling deeper in Hole 8 until it has passed through the zone of visible copper mineralization.
ML Gold’s understanding of the Stars Property geology is rapidly evolving. ML Gold geologists have now recognized coarse mica (muscovite) alteration, occurring with chalcopyrite-bornite veining in a rare outcrop 150m east of Hole 4, to be part of a high temperature potassic alteration phase. This alteration has also been recognized as part of the potassic alteration footprint within the ore zones of the Highland Valley Copper deposits in south central BC (operated by Teck Resources Ltd.). This new recognition not only validates the potential at the Stars Project, but indicates that there may be multiple porphyry centers present on the Stars Property. ML Gold will prioritize additional step-out drilling to the east, northeast, and southeast of Hole 4 as part of the 2018 drilling program.
Adrian Smith, President of ML Gold comments “All indications are that the copper porphyry system at the Stars Property is at or near surface, where the most prospective zones could be within the first 300 – 400 metres from surface. This is truly an ideal situation for low cost development, recognizing that discovering a large copper resource, close to surface, in a stable jurisdiction is practically unheard of in the past decade. We are extremely excited to continue drilling and expand on this copper endowed porphyry system that has been hiding just under the surface.”
The Company is in the process of logging, sampling, and shipping the Stars core samples to MS Analytical in Langley, BC for assaying. Results will be made available as soon as possible.
The Stars project is ideally located in central British Columbia in the heart of the province’s prolific porphyry belt. Drilling to date by ML Gold has identified a previously unrecognized porphyry system under glacial cover, the full extent of which is still unknown. Based on the extremely positive results encountered by the company on the Stars Project to date, ML Gold will continue to focus its exploration efforts at the Stars Property while evaluating opportunities with its new Palmetto gold resource in Nevada and its 7 Billion tonne Block-103 Iron deposit in Newfoundland and Labrador, Canada.
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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