First Drill Hole Intersects 311 Metres with Visible Chalcopyrite Mineralization on Stars Property in Central BC
Vancouver, British Columbia--(Newsfile Corp. - January 11, 2018) - ML Gold Corp. (TSXV: MLG) ("ML Gold" or the "Company") is pleased to report it has intersected 311 metres of veined and variably disseminated copper sulphide mineralization consisting predominantly of chalcopyrite in the first drill hole on its Stars Project near the Huckleberry mine, in central BC.
Highlights of the first drill hole:
DD17SS001 entered bedrock at a depth of 24.4 metres with visible copper oxide mineralization at surface. Downhole, copper sulphide mineralization occurs in veins ranging in size from 0.5 to 20 centimetres (cm) and as disseminations and blebs of chalcopyrite. Visible mineralization occurs throughout the interval to a depth of 332.6 metres.
The hole remained throughout its length, from the top of bedrock to 380 metres, in quartz-monzonite of the Bulkley Intrusive Complex (BIC), similar to one of the main rock types hosting economic copper mineralization at the near-by Huckleberry mine. True width of the mineralized zone intersected in the first hole is unknown at this time. Core is being processed and assays will be reported as soon as possible.
For greater information on this project and to view additional pictures from the first drill hole please visit the Company's website or follow the URL:
http://www.mlgoldcorp.com/index.php/projects/stars-property
Adrian Smith, President of ML Gold commented "The first hole of the program has successfully intersected visible copper mineralization from surface to a significant depth and seems to have a spatial association small cross-cutting porphyry dykes. Based on the amount of copper present within and around these small dykes, we expect there will be even larger porphyry dykes associated with even greater concentrations of copper than what we are seeing in the first hole."
The Company also reports the granting of 2,000,000 stock options (the "Options") to certain consultants of the Company. The Options have a term of 5 years and are exercisable at a price of $0.11 per common share. The Options are subject to the acceptance of the TSX Venture Exchange.
Qualified Person
Adrian Smith, P.Geo., is the qualified person for the Company as that term is defined in National Instrument 43-101, and has supervised the technical information presented within this news release.
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian company listed on the TSX Venture Exchange, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.
For additional information please visit the Company's website at www.mlgoldcorp.com. You may also email info@mlgoldcorp.com or call investor relations at (604) 669-2279.
ML GOLD CORP.
"Andrew Bowering"
Andrew Bowering
Chairman
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
Figure 1: Oxidized copper mineralization at bedrock contact in hole 1 at Stars Property (24.4metres)
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/5509/31920_a1515625145872_78.jpg
Figure 2: Quarts Chalcopyrite (copper) veins in hole 1 at Stars Property (86.5metres)
To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/5509/31920_a1515625146201_73.jpg
Figure 3: Massive Chalcopyrite in quartz vein in hole 1 at Stars Property (178.0metres)
To view an enhanced version of Figure 3, please visit:
http://orders.newsfilecorp.com/files/5509/31920_a1515625146451_33.jpg
Figure 4: Chalcopyrite veins in hole 1 at Stars Property (269.3meters)
To view an enhanced version of Figure 4, please visit:
http://orders.newsfilecorp.com/files/5509/31920_a1515625146779_37.jpg
