Massive Chargeability Target Identified in New IP Data
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
January 19, 2017
Massive Chargeability Target Identified in New IP Data
ML Gold Corp. (TSX-V: MLG; FSE: XO VN.F) (“ML Gold” or the “Company”) is pleased
to announce the purchase of private undocum ented and un-modeled Induced Polarization
(IP) data which has resulted in the discovery of a massive new chargeability target on the
Later Gold-Copper Project in central British Columbia. This newly discovered anomaly forms
a large donut shape over 1.9 kilometres (km) across and matches the geophysical signature
of several existing world class porphyry deposits including Mt Milligan 55km to the southeast
(2.2 Billion lbs Copper and 5.7 Million ounces gold) and the Batu Hijau mine in Indonesia
(10.5 Billion pounds copper and 12 Million ounces gold). Geophysical footprint comparisons
are available on the ML Gold website, www.mlgoldcorp.com.
ML Gold interprets the new donut chargeability target to represent a phyllic to propylitic
pyrite rich (highly chargeable) halo around th e margin of a porphyry center, similar to Mt.
Milligan and others. As a result, the Co mpany acquired a 100% interest in the Aplite Creek
Prospect on the easternmost flank of the targ et. Drilling at the Aplit e Creek Prospect, close
to the new target area, indicates that copper and gold mineralization is related to porphyry
dykes that occur on the outer margin of wh at could be a massive porphyry copper-gold
system further west (AH 90-1 including 187 metres wi th 0.053% copper, and AH 90-4
including 6m with 6.4 grams per tonne gold, 0.098% copper, Assessment Report 20943).
ML Gold has also acquired additional ground to the north of the target, bringing the total
Later Project land package to 6,684 hectares in 24 contiguous mineral claims. This
additional ground allows ML Gold to control this 6 by 7 kilometre area of highly anomalous
chargeability.
Adrian Smith, P.Geo and Presid ent of ML Gold states “The donut anomaly represents an
exciting new drill target for the upcoming field season. We are encouraged by the validation
of the drill hole vectoring model which indicated the large hydrothermal system encountered
in previous drilling was on the flank of something much more significant to the north. This
model directly resulted in the discovery and purchase of undocumented private data that
had been lost due to British Petroleum’s move out of BC in 1991 wh en the newly elected
NDP government threatened the development of mineral projects in BC. The use of drilling
as a vectoring tool is on the frontier of mineral exploration in BC, and is resulting in more
and more new discoveries under cover.”
The Later property is located within the prolif ic Quesnel Terrane in Central BC, consists of
24 mineral claims covering a pproximately 6,684 hectares, is accessible by vehicle year
round and lies within 50 km of hydroelectric power and railway. ML Gold can earn up to a
70% interest in the Property over a five year period by completing certain work
commitments and making certain cash and share payments to Pacific Empire Minerals Corp.
over the term of the option.
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.
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
ABOUT ML GOLD CORP.
ML Gold Corp. is a Canadian listed company, focused on creating shareholder value through
discoveries and strategic deve lopment 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 information, continued access
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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,
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