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ML Gold Updates Palmetto Gold Drilling and Pinnacle Reef Deep Sensing Geophysics Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 18, 2017) - ML Gold Corp. (TSX VENTURE:MLG)(FRANKFURT:XOVN.F) ("ML Gold" or the "Company") is pleased to provide
About this update from M3 Metals Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 18, 2017) - ML Gold Corp. (TSX VENTURE:MLG)(FRANKFURT:XOVN.F) (\"ML Gold\" or the \"Company\") is pleased to provide an update on the Palmetto Gold Project in Nevada, USA, and the renamed Pinnacle Reef Copper-Gold Project (formerly called the Later) in British Columbia. At the Palmetto Project: The phase I drilling program is continuing with 13 drill holes completed to date and another two holes recently added to the program. The primary purpose of the program is to confirm and expand the 3D model being used to calculate a maiden gold resource at Palmetto. ML Gold's team is on-site, logging, preparing and shipping drill samples to Reno, Nevada for initial analysis before being sent to Vancouver, Canada, for the final multi-element analysis. To date ML Gold has received and released assay results for one complete hole of the program, see Company release dated May 4, 2017. Additional results are pending. Based on gold mineralization in quartz veining observed in the recent RC holes (PAL-17R07 & PAL-1708) within the Northwest Zone, the Company sees potential to focus on this quickly expanding area in a phase II program. The Northwest Zone has been overlooked in the past due to a focus on the high grades within the Discovery Zone. There is significant potential to expand the Northwest Zone as it remains open both east and west, and appears to be widening to the west. Contingent on the NI 43-101 technical report and concurrent resource estimate being conducted, the Company will fully evaluate the phase II program which could begin as early as September 2017. At the Pinnacle Reef Project (formerly the Later): In January, 2017, ML Gold identified a large (2 kilometre wide) donut shaped Induced Polarization \"IP\" anomaly representative of a pyritic halo on the Pinnacle Reef Project in North central British Columbia (previously reported in News Release dated January 19, 2017). To follow up, the Company implemented a deep sensing IP program in early April, 2017 to search for a source or \"feeder zone\" for the mineralization observed on the margin of the anomaly. This most recent survey has identified a \"pipe like\" conductive structure going to the bottom of the IP survey limits (approximately 700 metres deep) located in the southern portion of the \"donut\". The new deep sensing IP s...