Exploration Underway at Three Projects Geophysics at Aspen and Later - Drilling at Palmetto
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April 06, 2017
Exploration Underway at Three Projects
Geophysics at Aspen and Later - Drilling at Palmetto
ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) reports it
has commenced exploration on three projects: drilling at the Palmetto Gold Project in
Nevada, USA and Geophysical Surveying at the Aspen and Later Copper -gold Projects in
British Columbia.
Geophysics at Aspen and Later
ML Gold crews have recently commenced ground based Induced Polarization (“IP”)
geophysics over the Aspen and Later Properties in Central British Columbia. To date, the IP
crew has completed 9.6 line kilometres (km) covering two separate magnetic anomalies on
the Aspen South claim block. Preliminary results indicate the discovery of a new porphyry
target approximately 1.1 kilometres wide buried under approximately 50 metres of cover.
This new target is typified by a coincident high chargeability , high resistivity anomaly and
occurs off the southeastern margin of one of two distinct large ovoid int rusions in the
Nechako Plateau area . These massive intrusions are thought to be responsible for the
mineralizing events in the region such as New Gold Inc’s 9.5 million ounce Blackwater gold
deposit. The discovery of this new anomaly under cover results from follow-up on discrete
magnetic anomalies with highly elevated silver in soils (up to 4.3 grams per tonne silver in
soil).
At the Later Copper -Gold Project, the geophysics crew is conducting a deep sensing IP
survey over the massive donut shaped chargeability anomaly originally identified by ML
Gold in the unmodelled IP data acquired earlier this year (see ML Gold news of January 19,
2017). This central donut anomaly is approximately 1.9 kilometres across and occurs within
a roughly 6 by 7 kilometre area o f anomalous chargeability. The current IP survey will allow
deeper imaging within the donut, greatly increasing the targeting ability for the anticip ated
drilling program later this year. ML Gold interprets the donut chargeability target to
represent a pyrite rich (highly chargeable) halo around the margin of a porphyry center,
similar to the near-by 2.2 Billion lbs Copper and 5.7 Million ounce gold Mt. Milligan mine,
and others. Previous drilling on the outer margin of the donut anomaly indicates that copper
and gold mineralization identified (AH 90-1 including 187 metres with 0.053% copper, and
AH 90-4 including 6m with 6.4 grams per tonne gold, 0.0 98% copper, Assessment Report
20943) is related to porphyry dykes possibly stemming from a massive porphyry copper -
gold system somewhere in the centre of the halo.
Drilling at Palmetto
ML Gold is pleased to provide an update on the Palmetto Project in Esmeralda County within
Nevada’s Walker Lane mineral belt. Currently two drills are oper ating on the Palmetto
Project: a Core drill , and a Reverse Circulation (“RC”) drill . T o date , the Core drill is
advancing its second hole within the Discovery Z one where it has intersected at least one
interval over several feet with fine visible gold. The RC drill has completed its first two holes
and has encountered several zone s with quartz veining visible in the chips . The RC drill is
currently testing the inters ection of the Discovery Z one and the rhyolite dome feature
thought to be related to the gold mineralizing event. Samples are being logged and
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Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
processed on site and are currently being prepared for shipping to the ALS Minerals Lab in
Reno, Nevada for assaying. Initial inspection of the core is encouraging and t he Company
anticipates a quick turnaround time for all samples.
The drilling program at the Palmetto project is permitted to include 13 holes; however, two
additional holes have been added to the planned program and are awaiting approval from
the BLM office under a modified permit application. Once the drilling program is completed
ML Gold will begin the process of completing a first ever resource estimate on the Palmetto
property.
ML Gold project videos can be viewed on the Company’s website under the Projects tabs the
following the link s (www.mlgoldcorp.com/index.php/projects/palmetto) &
(www.mlgoldcorp.com/index.php/projects/later) and clicking on the video.
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 listed Company, focused on creating shareholder value thr ough
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 [email protected] or call investor relations at (604) 669-2279.
ML GOLD CORP.
“Andrew Bowering”
Andrew Bowering
Chairman
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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 informati on, 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 estimate s that, while
considered reasonable by the Company, are inherently subject to significant business, economic, competitive, politica l 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
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