Business
MacDonald Mines: James Bay Property Status and Exploration Update
MacDonald Mines: James Bay Property Status and Exploration Update
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":"\nMacDonald Mines: James Bay Property Status and Exploration Update\n\n\n Aug. 11, 2009 (Baystreet.ca) -- TORONTO, ONTARIO -- MacDonald Mines Exploration Ltd. (TSX VENTURE: BMK) (\"MacDonald\" or the \"Company\") would like to provide a property and exploration update. MacDonald Mines holds over 88,000 hectares of quality land position in the James Bay Lowlands, McFauld's Lake area. The Company has since reacquired a 100% interest in its Big Mac Property that was previously joint-ventured with White Pine Resources.\n\nMacDonald Mines is looking closely at its Hornby Property (a 54/46 joint venture with Temex Resources) located adjacent to the Fancamp Exploration, Spider/Freewest/KWG and Noront Resources claims. Over the past few years, this highly mineralized but localized area has produced some spectacular drill intersections of nickel/copper/PGE as well as chromite mineralization. \nExploration Data Update & Overview \nA review of available geophysical data would indicate that the chromite horizons defined by Freewest and its partners would pass through the northwest corner of both MacDonald's Hornby East and Hornby West claim groups. Drill holes very close to MacDonald Mines' northern Hornby claim boundary have reported chrome values of some significance. \nAn untested AEM response located in the northwest part of the Hornby East Claims displays a coincident magnetic signature that sits on the boundary of the Fancamp claims. It is quite possible that this represents a part of the sequence that hosts chrome mineralization. \nSpider Resources' McFauld's Anomaly #7 represents a VMS target. The interpreted strike extension of this target further to the south and west lies within MacDonald's East Hornby Claim Group. \nThe Company is currently reviewing its complete database of exploration results from the area. A comprehensive review of the 100% owned McNugget and Big Mac Properties, as well as all of our joint-ventured properties, with special emphasis on those that are proximal to Noront, is currently underway with the objective of finalizing an exploration program and budget. \nDrilling Campaigns Show Nickel Mineralization over Significant Widths \nMacDonald's drilling campaigns in 2007 and 2008 did intersect low-grade nickel mineralization over significant widths in several locations on the McNugget Property. Ultramafic rocks ...