ACCESS Newswire
12 Aug 2019, 12:43 GMT+10
VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / August 12, 2019 / MGX Minerals Inc. ("MGX" or the "Company") (CSE:XMG)(FKT:1MG)(OTCQB:MGXMF) is pleased to report drill results from the 2018/2019 exploration program at its 13,905 hectare Fran Gold Property ("Fran" or the "Property") located in the Omineca mining division of north-central British Columbia, just 30km southwest of the Mount Milligan Gold-Copper mine. Highlights from drilling include:
The C$1.9 million exploration program completed 16 NQ-size diamond drill holes across 5,653 meters (see Figure 1 and Table 1) as well as 18 kilometers of Induced Polarization surveys (see Figure 2). Based on the positive results, MGX is now planning a follow up seven-hole, 2,800 meter drill program to further delineate the SE and NW extensions of the high-grade Bullion Alley gold zone.
Discussion of Drill Results
Results from the Winter 2018/2019 exploration program at Fran verified continuity of the north contact at the Bullion Alley Zone. The contact zone between the intrusive monzonite and hornfels volcanic/sedimentary rocks host several sub-parallel gold bearing shear zones. Interpretation of the results suggest higher gold grades correlate with vein strike flexure and intersecting shears in this 200 X 250 m area, along with relatively consistent continuity down-dip to the north.
Approximately 75% of the gold enriched shear zones of Bullion Alley are hosted in porphyritic monzonite with the remaining 25% hosted in Inzana Formation (Takla Group) indurated volcanic and sedimentary lithologies. Several other syn to post-mineral vein types have been identified in drilling and in outcrops in the Bullion Alley zone. The best gold values are localized in areas of vein flexures where thickening of mineralized structures occur. These structures are associated with increased K-feldspar, magnetite, chlorite, silica, and carbonate alteration, and monzonite composition hornblende and plagioclase porphyry dyke/sill lithologies in Late Triassic-Early Jurassic porphyritic monzonite host-rock as well as hornfels in Inzana Formation (Takla Group) volcanic and sedimentary host-rocks.
Figure 1. Drill Hole Locations and Section Line
The table below reports 12 out of 16 drill hole intercepts >1 g/t Au as intersected interval lengths (not true width):
Table 1. Fran 2018-2019 DDH Interval Length Reporting >1g/t Au
DDH # | From (m) | To (m) | Interval m | g/t Au | % Cu |
FR18-92 | 175.5 | 177.09 | 1.59 | 2.19 | 0.30 |
FR18-92 | 183.0 | 185.05 | 2.05 | 1.03 | 0.06 |
FR18-92 | 255.7 | 256.34 | 0.64 | 2.19 | 0.11 |
FR18-92 | 273.5 | 274.1 | 0.60 | 2.62 | 0.09 |
FR18-92 | 274.62 | 275.1 | 0.48 | 6.73 | 0.23 |
FR18-92 | 279.0 | 280.72 | 1.72 | 1.58 | 0.03 |
FR18-92 | 292.0 | 294.0 | 2.0 | 1.09 | 0.01 |
FR18-92 | 303.55 | 304.1 | 0.55 | 1.08 | 0.06 |
FR18-93 | 277.0 | 278.0 | 1.0 | 1.20 | 0.02 |
FR18-93 | 298.6 | 299.1 | 0.5 | 1.77 | 0.23 |
FR18-93 | 305.0 | 306.0 | 1.0 | 1.69 | 0.11 |
FR18-94 | 222.0 | 223.12 | 1.12 | 2.37 | 0.08 |
FR18-94 | 231.35 | 231.9 | 0.55 | 6.37 | 0.62 |
FR18-94 | 235.0 | 236.3 | 1.3 | 13.50 | 0.25 |
FR18-94 | 259.0 | 260.0 | 1.0 | 4.99 | 0.02 |
FR18-95 | 204.0 | 205.32 | 1.32 | 5.91 | 0.15 |
FR18-95 | 227.0 | 228.34 | 1.34 | 2.78 | 0.23 |
FR18-95 | 229.24 | 230.1 | 0.86 | 3.05 | 0.07 |
FR18-95 | 235.5 | 237.73 | 2.23 | 23.26 | 0.15 |
FR18-95 | 276.7 | 279.35 | 2.65 | 1.41 | 0.26 |
FR18-95 | 284.88 | 285.64 | 1.51 | 1.40 | 0.05 |
FR18-96 | 44.50 | 46.02 | 1.52 | 3.28 | 0.01 |
FR18-96 | 138.25 | 142.35 | 4.10 | 6.55 | 0.14 |
FR18-96 | 157.50 | 166.15 | 8.65 | 3.13 | 0.12 |
FR18-96 | 181.00 | 181.50 | 0.50 | 4.04 | 0.17 |
FR18-96 | 207.00 | 208.00 | 1.00 | 2.05 | 0.01 |
FR18-96 | 247.19 | 250.00 | 2.81 | 1.65 | 0.04 |
FR18-96 | 254.2 | 254.90 | 0.65 | 8.89 | 0.06 |
FR18-97 | 39.75 | 40.90 | 1.15 | 3.61 | 0.01 |
FR18-97 | 42.61 |
Shares
Watch latest videosSubscribe and FollowGet a daily dose of Detroit Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well. News RELEASESPublish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Detroit Star. More Information
null in null
InternationalSectionCDC: US records 1,288 measles cases, most since 1992 outbreakATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so... Gaza War sucking life out of an Israeli generationIn the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held... Faulty IT system at heart of UK Post Office scandal, says reportLONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which... Travelers can now keep shoes on at TSA checkpointsWASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland... Rubio impersonator used AI to reach officials via Signal: cableWASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in... Warsaw responds to migration pressure with new border controlsSLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction... MichiganSectionRubio impersonator used AI to reach officials via Signal: cableWASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in... Tigers' All-Star Casey Mize hunts 10th win vs. Mariners(Photo credit: Ken Blaze-Imagn Images) Casey Mize got some big news before his final start prior to the All-Star break. The Detroit... Cal Raleigh smacks two more HRs, Mariners beat Tigers(Photo credit: Lon Horwedel-Imagn Images) Cal Raleigh blasted his major league-leading 37th and 38th home runs, including a grand... Valkyries to put 'disruptive' defense up against Aces(Photo credit: Trevor Ruszkowski-Imagn Images) The Golden State Valkyries cap off their four-game road trip at the Las Vegas Aces... Yankees LHP Carlos Rodon among additions to AL All-Star team(Photo credit: Brad Penner-Imagn Images) New York Yankees left-hander Carlos Rodon was named to the American League All-Star team... Hometown hero Kyle Larson looks to defend his Sonoma title(Photo credit: Stan Szeto-Imagn Images) If you enjoy racing at NASCAR's snaking road courses, you have come to the right place over... |