ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) is pleased to announce that crews are now back in the field drilling at the Stars project following a temporary break as a result of the abnormal wildfire season in central BC. Drilling is set to continue through October and will target the newly identified porphyry and the related fluid “conduit” responsible for copper mineralization on the Stars project.
New hydrothermal breccias identified in drill core with grades in excess of 0.5% copper, cemented with chalcopyrite, are important indications that there is a significant copper bearing hydrothermal system intimately related to the newly identified porphyry. Specifically, several 10 foot samples grading up to 0.78% Copper are attributed to this early potassic phase which occur within the previously reported Hole 10 interval of 189 meters at 0.33% CuEq. Drilling will continue to test the copper bearing breccias and intrusions, and test the mineralization to greater depths where more consistent higher grades of copper are anticipated.
Newly identified copper breccia in Hole 10 (DD18SS010) and its significance:
- Early hydrothermal breccia event developed during potassic conditions based on absence of pyrite and sericite in the matrix.
- Dynamic system where a copper-bearing hydrothermal fluid has exploded to produce the breccia composed of coeval porphyry and the chalcopyrite cement.
- Predictable zonation with pyrite dominant at the top moving to lower sulphidation state mineralogy (chalcopyrite, chalcopyrite-bornite, bornite) at depth.
- High in the system, leaving significant potential at depth.
- Early in discovery cycle.
Assays from additional completed holes are pending, and will be released as soon as possible.
ML Gold’s Stars project is ideally located 60km southwest of the resource town of Houston, B.C. The project site is low-elevation, gentle topography, and is accessible by all-season main line resource roads making it ideal for low-cost mine development.
Adrian Smith, President of ML Gold comments “We are extremely excited to continue drilling and to follow the newly identified copper system into a potentially economic ore body. Being involved in such an early stage project that is having success in only its first year of exploration is full of exciting milestones; I believe the recent identification of a mineralized porphyry and breccia with grades in excess of 0.5% Copper is one of those milestones.”
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