About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold exploration in Canada. The Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Gold Project.
Neighbouring Alamos Gold's Island Gold Mine, Argonaut's Magino Gold Project and Goldcorp’s Borden project, the 1142 acres Wawa-Holdsworth Gold Project is located 20km northeast of Wawa, Ontario. The land package has all the attributes to host a large gold system with numerous gold showings occurring in a 500m-wide deformation corridor. Historic work by previous operators defined three gold targets on the Wawa-Holdsworth Project: 1) Greenstone-hosted quartz-carbonate vein deposits (Soocana Vein System and Reed-Booth Showing); 2) BIF-hosted gold deposits (gold-bearing pyrite zones in an Algoma-type iron formation); and 3) Gold-bearing Oxide Sands developed from the weathering of the auriferous Pyrite Zones.
MacDonald is focusing its near-term exploration program on the Oxide Sands. The soft and relatively unconsolidated material can be extracted like an aggregate. A trenching and 2,000m sonic drilling program last fall confirmed that the precious metals-rich sand formation occur over a 1.1 km strike length and likely extends to 1.8km. Furthermore, preliminary sonic drilling results returned up to 7.92 g/t AuEq over 3.23m, indicating that the gold and silver inventory of the Oxide Sands may be larger than initially anticipated.
Once the Company receives assay results for the remaining 342 holes drilled, it will initiate a NI43-101 inferred resource estimation for the Oxide Sands and prepare for their potential extraction.