ACCESS Newswire
12 Aug 2019, 12:43 GMT+10
VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / August 12, 2019 / MGX Minerals Inc. ("MGX" or the "Company") (CSE:XMG)(FKT:1MG)(OTCQB:MGXMF) is pleased to report drill results from the 2018/2019 exploration program at its 13,905 hectare Fran Gold Property ("Fran" or the "Property") located in the Omineca mining division of north-central British Columbia, just 30km southwest of the Mount Milligan Gold-Copper mine. Highlights from drilling include:
The C$1.9 million exploration program completed 16 NQ-size diamond drill holes across 5,653 meters (see Figure 1 and Table 1) as well as 18 kilometers of Induced Polarization surveys (see Figure 2). Based on the positive results, MGX is now planning a follow up seven-hole, 2,800 meter drill program to further delineate the SE and NW extensions of the high-grade Bullion Alley gold zone.
Discussion of Drill Results
Results from the Winter 2018/2019 exploration program at Fran verified continuity of the north contact at the Bullion Alley Zone. The contact zone between the intrusive monzonite and hornfels volcanic/sedimentary rocks host several sub-parallel gold bearing shear zones. Interpretation of the results suggest higher gold grades correlate with vein strike flexure and intersecting shears in this 200 X 250 m area, along with relatively consistent continuity down-dip to the north.
Approximately 75% of the gold enriched shear zones of Bullion Alley are hosted in porphyritic monzonite with the remaining 25% hosted in Inzana Formation (Takla Group) indurated volcanic and sedimentary lithologies. Several other syn to post-mineral vein types have been identified in drilling and in outcrops in the Bullion Alley zone. The best gold values are localized in areas of vein flexures where thickening of mineralized structures occur. These structures are associated with increased K-feldspar, magnetite, chlorite, silica, and carbonate alteration, and monzonite composition hornblende and plagioclase porphyry dyke/sill lithologies in Late Triassic-Early Jurassic porphyritic monzonite host-rock as well as hornfels in Inzana Formation (Takla Group) volcanic and sedimentary host-rocks.
Figure 1. Drill Hole Locations and Section Line
The table below reports 12 out of 16 drill hole intercepts >1 g/t Au as intersected interval lengths (not true width):
Table 1. Fran 2018-2019 DDH Interval Length Reporting >1g/t Au
DDH # | From (m) | To (m) | Interval m | g/t Au | % Cu |
FR18-92 | 175.5 | 177.09 | 1.59 | 2.19 | 0.30 |
FR18-92 | 183.0 | 185.05 | 2.05 | 1.03 | 0.06 |
FR18-92 | 255.7 | 256.34 | 0.64 | 2.19 | 0.11 |
FR18-92 | 273.5 | 274.1 | 0.60 | 2.62 | 0.09 |
FR18-92 | 274.62 | 275.1 | 0.48 | 6.73 | 0.23 |
FR18-92 | 279.0 | 280.72 | 1.72 | 1.58 | 0.03 |
FR18-92 | 292.0 | 294.0 | 2.0 | 1.09 | 0.01 |
FR18-92 | 303.55 | 304.1 | 0.55 | 1.08 | 0.06 |
FR18-93 | 277.0 | 278.0 | 1.0 | 1.20 | 0.02 |
FR18-93 | 298.6 | 299.1 | 0.5 | 1.77 | 0.23 |
FR18-93 | 305.0 | 306.0 | 1.0 | 1.69 | 0.11 |
FR18-94 | 222.0 | 223.12 | 1.12 | 2.37 | 0.08 |
FR18-94 | 231.35 | 231.9 | 0.55 | 6.37 | 0.62 |
FR18-94 | 235.0 | 236.3 | 1.3 | 13.50 | 0.25 |
FR18-94 | 259.0 | 260.0 | 1.0 | 4.99 | 0.02 |
FR18-95 | 204.0 | 205.32 | 1.32 | 5.91 | 0.15 |
FR18-95 | 227.0 | 228.34 | 1.34 | 2.78 | 0.23 |
FR18-95 | 229.24 | 230.1 | 0.86 | 3.05 | 0.07 |
FR18-95 | 235.5 | 237.73 | 2.23 | 23.26 | 0.15 |
FR18-95 | 276.7 | 279.35 | 2.65 | 1.41 | 0.26 |
FR18-95 | 284.88 | 285.64 | 1.51 | 1.40 | 0.05 |
FR18-96 | 44.50 | 46.02 | 1.52 | 3.28 | 0.01 |
FR18-96 | 138.25 | 142.35 | 4.10 | 6.55 | 0.14 |
FR18-96 | 157.50 | 166.15 | 8.65 | 3.13 | 0.12 |
FR18-96 | 181.00 | 181.50 | 0.50 | 4.04 | 0.17 |
FR18-96 | 207.00 | 208.00 | 1.00 | 2.05 | 0.01 |
FR18-96 | 247.19 | 250.00 | 2.81 | 1.65 | 0.04 |
FR18-96 | 254.2 | 254.90 | 0.65 | 8.89 | 0.06 |
FR18-97 | 39.75 | 40.90 | 1.15 | 3.61 | 0.01 |
FR18-97 | 42.61 |
Shares
Watch latest videosSubscribe and FollowGet a daily dose of Cleveland Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well. News RELEASESPublish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cleveland Star. More Information
null in null
BusinessSectionEngine defect prompts Nissan to recall over 443,000 vehiclesFRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential... Microsoft trims jobs to manage soaring AI infrastructure costsREDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation... Stocks worldwide struggle to make ground Friday with Wall Street closedLONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback... Nvidia briefly tops Apple’s record in AI-fueled stock rallySANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market... ICE raids leave crops rotting in California, farmers fear collapseSACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden... Trump signals progress on India Trade, criticizes Japan stanceWASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would... OhioSectionRockies face White Sox, still hope for first home-series victory(Photo credit: Brad Mills-Imagn Images) The Colorado Rockies have yet to win a home series this season, but they still have a chance... Guardians' Steven Kwan out to make All-Star case vs. Tigers(Photo credit: David Richard-Imagn Images) Riley Greene, Javier Baez and Gleyber Torres will start in the All-Star Game this month,... Phillies' Ranger Suarez looks for another strong outing vs. Reds(Photo credit: Mady Mertens-Imagn Images) The Cincinnati Reds are becoming known for their resilience. Fresh off an impressive... High-scoring Cubs aim to tee off again vs. rival Cards(Photo credit: Kamil Krzaczynski-Imagn Images) Chicago Cubs center fielder Pete Crow-Armstrong is having a blast batting in his team's... MLB roundup: Cubs blast team-record 8 HRs to beat Cards(Photo credit: Kamil Krzaczynski-Imagn Images) The Chicago Cubs set a franchise record by bashing eight home runs in a single game... Nashville SC ready to challenge Union in clash of East powers(Photo credit: Daniel Kucin Jr.-Imagn Images) Two of the top teams in MLS meet on Saturday night as Nashville SC hosts the Supporters'... Movie Review |