MLK Gold. Ltd. Adds 104 Lithium Claims On Its 360 Lithium Property
MLK Gold. Ltd. Adds 104 Lithium Claims On Its 360 Lithium Property
Airborne geophysics, soil and till geochemistry, and drilling to be completed by end of Q4 2022
For immediate Release:
June 9, 2022 – MLK Gold Ltd. (“CSE: MLK”) (“MLK” or “MLK Gold” or the “Company”), a growth-
oriented gold exploration company headquartered in Windsor, Nova Scotia, is pleased to report that after
an initial data mining compilation of public government databases, the Company has added 104 lithium
claims covering 2,600 hectares on its 360 Lithium Property located on the south coast of Newfoundland.
Company President and CEO, Paul Smith (P. Geo.) and Executive Chairman, Bill Fleming, noted
significant pegmatite development on the property following an initial reconnaissance visit to the area late
last month.
“We know from previous government and academic research that pegmatite veins have been noted in
previous mapping of the area and contain sub-ore grades of elemental lithium in addition to numerous
quartz-tourmaline veins,” said Smith. “What we were surprised to observe was the abundance of veining
and the variation in textures and mineralogy. Our plan is to complete a full assessment of these claims as
part of our Q3 exploration program which includes our Caledonia Brook Gold Property,” he added.
Exploration is set to begin at the end of July and will coincide with the Company’s plan to release its
airborne Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey and soil data
collected by Geotech Ltd. and Overburden Drilling Management (ODM).
Update on Caledonia Brook Gold Project:
The Company’s flagship Caledonia Brook Gold Project is targeting lode and intrusive-hosted styles of
gold mineralization through a planned initial drill program of 1,200 metres in 12 proposed holes to be
collared on the Mustang66, Maverick, and Charlie Zones.
“The commencement of our Q4 drilling will represent the first diamond drill holes ever undertaken on the
property,” added Smith. “We have two additional holes being considered on the Slider Zone which will
be conditional on results of a detailed soil sample survey in this area.”
Versatile Time-Domain Electromagnetic (VTEM™ Plus)
A total of 662 line-kilometres (representing ~62% of the property) has been covered by an airborne
Versatile Time-Domain Electromagnetic (VTEM™ Plus) geophysical survey. Survey highlights include:
• Anomalous gold in soil, till, and rocks associated with low to medium sized magnetic highs.
• Magnetic anomaly present in the Victoria Lake Group at the northern boundary with the
overlying norther Caradoc Shale unit.
• Magnetic anomaly present in the Tally Pond Volcanics near the south contact with the southern
Caradoc Shale unit.
• Magnetic signature of the northern and southern Caradoc Shale units are very different.
• Survey better defines stratigraphy and structure.
• Data shows the necessity for detailed geological mapping.
All data is currently under review and results will be released in the Company’s next update.
Glacial Till Sampling
Phase I of the Company’s glacial till sampling program in the northern portion of the property has been
completed with 111 samples being processed by Overburden Drilling Management (ODM). A summary
of the results from the samples include:
• Ninety-one of the 111 samples collected showed visible gold grains.
• The highest number of gold grains was 17 and the highest calculated gold grade assay in heavy
mineral concentrate was 2.679 g/t Au.
• Most gold grains were classified as modified with 21 samples having pristine gold grains.
• A total of 87 samples carried modified gold grains.
All heavy mineral concentrates from ODM’s mineral separation work are currently being analyzed at
Activation Laboratories Ltd. in Ancaster, ON, and results will be released once they have been received.
Additional glacial till sampling will be carried out over the southern part of the property in Q3-Q4.
Soil Sampling and Rock Geochemistry:
The Company’s 2022 soil sampling process will take place over five separate grids on the property. Gold
assay grades in soil from last summer’s exploration have shown elevated gold content up to 192 ppb.
Further work will target the Mustang66, Maverick, Cougar, Charlie, and Slider Zones.
Rock geochemistry has indicated four areas of elevated gold, silver, zinc, or lead content. These occur
along the Mustang66, Viper, and Maverick Zones with gold assays up to 2.38 g/t Au and with silver up to
71.1 g/t Ag, 4.03 % Zn, and 1.07 % Pb.
All work will focus on areas where either known structural faults occur or where the Company has
evidence of either shear zones or faulting being present based on its previous exploration in the area.
MLK Executive Chairman, William (Bill) Fleming, says the Company’s commitment to the area’s high
potential is driving their exploration program.
“We have a pretty good idea of the geological similarities we share with other major stakeholders in the
area, and we are encouraged by some of the results we have recorded to date,” said Fleming. “Keeping
that in mind, our primary focus right now is to accelerate the implementation of our strategic exploration
initiatives, and if that requires more investment capital then we’ll execute that action.”
MLK’s Caledonia Brook property is situated in central Newfoundland west of New Found Gold
Corporation, northeast of the Valentine Lake deposit property, and southwest of Sokoman Minerals
Moosehead gold property, and shares geological and structural similarities to Marathon Gold's (4.14
million ounces; 3.14 Moz. M&I, 56.7 Mt @ 1.72 g/t Au; 1.00 Moz. Inferred; 18.2 Mt @ 1.70 g/t Au)
Valentine Lake deposit with both properties lying along the Victoria Lake – Grand Falls Shear Zone
System. The Company’s qualified person has not verified data from Marathon Gold’s Valentine Lake
project and similarities are not indicative of mineralization on the Company’s properties.
Source: N.I. 43 Technical Report & FEASIBILITY STUDY ON THE VALENTINE GOLD PROJECT, Newfoundland and
Labrador, Canada; Prepared for, Marathon Gold Corporation, 36 Lombard Street, Suite 600, Toronto, ON, M5C 2X3; by
Ausenco. Effective date: April 15, 2021.
MLK’s corporate update can be viewed here.
Qualified Persons and 43-101 Disclosure
Paul K. Smith (P. Geo.), President & CEO for the Company, is the designated Qualified Person for this
news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and
verified that the technical information contained herein is accurate and approves of the written disclosure
of same.
About MLK Gold Ltd.
Founded in 2018, MLK Gold Ltd. is quickly emerging as one of Atlantic Canada's premiere resource
exploration companies offering exposure to gold and the strategic metal representing a unique mix of
discovery and resource development potential. Invested in a portfolio of gold projects in mining and
mineral-rich Newfoundland, MLK’s plan is to capitalize on the province's ranking as one of the world’s
top 10 mining jurisdictions and expand into a long-life, financially sound gold-mining company.
Additional information about the Company and its activities may be found on the Company’s website at
www.mlkgold.com and under the Company’s profile at www.sedar.com.
To view the Company’s recent promotional video, please click HERE.
William (Bill) Fleming
Executive Chairman, MLK Gold Ltd.
59 Payzant Drive
P.O. Box 657, Windsor
Nova Scotia, Canada, B0N 2T0
Phone: 902.448.0716
Email: [email protected]
Forward-Looking Statements
This news release contains certain forward-looking statements. Wherever possible, words such as "may",
"will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or
"potential" or the negative or other variations of these words, or similar words or phrases, have been used
to identify these forward-looking statements. These statements reflect management's current beliefs and
are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could
cause actual results, performance or achievements to differ materially from the results discussed or
implied in the forward-looking statements. These factors should be considered carefully and readers
should not place undue reliance on the forward-looking statements. Although the forward-looking
statements contained in this news release are based upon what management believes to be reasonable
assumptions, the Company cannot assure readers that actual results will be consistent with these forward-
looking statements. The Company assumes no obligation to update or revise them to reflect new events or
circumstances, except as required by law.