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Dr. Quinton Hennigh Joins Bonanza King (Mexican Gold) as Special Advisor and Provides a Review of the Queensway Gold Project
VANCOUVER, British Columbia, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Mexican Gold Corp. (the “Company” or “Mexican Gold") (TSXV: MEX) is pleased to announce that Dr.
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Mexican Gold Corp. (the “Company” or “Mexican Gold\") (TSXV: MEX) is pleased to announce that Dr. Quinton Hennigh has joined the Company as a special advisor. The Company has an agreement to acquire all the issued and outstanding shares of New Found Gold Corp. (“NFGC”) which holds a 100% interest in the Queensway Gold Project, located on the Trans-Canada Highway approximately 10 km west of Gander, Newfoundland (see the Company’s January 28, 2020 news release). Following closing, the Company will be re-named Bonanza King Mining Corp. Highlights From January 29-31, 2020, Dr. Quinton Hennigh completed a site visit to NFGC’s Queensway Gold Project. His visit included review of surface samples and core from various locations on the project, review of reports and other available materials, discussions with management, and a review of the drill core from hole #1 of NFGC’s November/December drill program at its Queensway Gold Project which intersected 92.86 g/t Au over 19.0 meters including 285.2 g/t Au over 6.0 meters, starting at 96 m down hole depth. The true width of this intercept is estimated to be 70% based on drill core angles and correlation with historic drilling (link to photos of core here). As outlined in his summary below, Dr. Hennigh observed geologic characteristics that indicate mineralization at Queensway was deposited in an epizonal orogenic regime, a setting in which high-grade gold deposits can form. These observations and insight will be valuable in guiding the go forward exploration strategy at Queensway. Following his review of the project Dr. Hennigh agreed to join the Company as a special advisor. Dr. Hennigh noted: “It is a great pleasure to get involved with the Queensway high-grade gold project at the discovery stage. High-grade epizonal orogenic gold deposits are seldom seen in nature, because they are usually eroded away shortly after they form. High-grade gold mineralization recently encountered in drilling by New Found Gold at Queensway displays characteristics common to these type deposits, so it is quite exciting as a geologist to see such unique mineralization preserved in a newly identified setting. I look forward to working with the team on what I am sure will be a very exciting next phase of exploration.” Comments and Obser...