Business
ML Gold Acquires Stars Property in Omineca Mining Division; Announces C$1 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2017) - ML Gold Corp. (TSXV: MLG) ("ML Gold" or the "Company") is pleased to announce it has signed
About this update from M3 Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - November 22, 2017) - ML Gold Corp. (TSXV: MLG) (\"ML Gold\" or the \"Company\") is pleased to announce it has signed two separate option agreements for options to acquire up to an 80% interest in a total of 2,136 Hectares of prospective mining claims in the Omineca Mining Division located in north central British Columbia, approximately 40 kilometres south - southwest of Houston (collectively, the \"Stars Property\"). Andy Bowering, Chairman of ML Gold comments \"This was a unique opportunity to acquire a strong land position with significant copper - gold - silver mineralization on surface, which has never been tested to depth, in this emerging area play. We are pleased to have a place in the recent resurgence of this significant mining camp.\" ML Gold's Stars Property is 30 kilometres to the northwest of the New Nadina's Silver Queen Property. The mineralization on New Nadina's property has a northwest - southeast trend and falls within a string of deposits and past producing mines including Goldcorp's Equity Silver Mine which produced over 77 Million Ounces Silver, 500,000 Ounces Gold, and over 80,000kg of Copper. At the northwest end of this trend, ML Gold's Stars Property is host to wide spread chargeability anomalies and significant copper-gold-silver mineralization outcropping at surface. The Stars Property is underlain by Lower Jurassic volcanics, and Lower Cretaceous Skeena Group sediments that are intruded by variably mineralized Late Cretaceous intermediate to felsic Bulkley Suite intrusive rocks. The Stars Property is fully permitted for drilling on two main zones that were first discovered in the late 1990's when new logging roads were being constructed in the area. Since then mineralization has been confirmed in shallow drilling, and consists predominately of quartz sulphide veins containing chalcocite, bornite, chalcopyrite, and pyrite in intensely altered host volcanic rocks. The outcropping mineralization, especially at the Road Zone, is interpreted to be high level porphyry style mineralization evident from euhedral chalcocite crystals with intense muscovite replacement in the wall rock. It is possible that this zone is immediately above or proximal to an enriched copper porphyry zone and that the two adjacent zones identified on surface on the property join at dep...