ML Gold Drills 405 metres of 0.26% CuEq from Surface at Stars Copper Project; Discovers New Mineralized Feldspar Porphyry Under Cover
Suite 2000 – 1177 West Hastings St
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T: 604-669-2279 / F: 604-602-1606
August 28, 2018
ML Gold Drills 405 metres of 0.26% CuEq from Surface at Stars Copper Project;
Discovers New Mineralized Feldspar Porphyry Under Cover
ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold” or the “Company”) is pleased
to announce that its ongoing drilling program at the Stars p roject has intersected over 400
metres of copper mineralization extending the entire length of Hole 10 (DD18 -SS010),
ending in mineralization at a final depth of 490m . The mineralization is characterized by
variably silicified and potassic altered feldspar porphyry intrusion s containing coarse and
fine grained disseminations of chalcopyrite, in a steeply-dipping mineralized zone. Ongoing
drilling continues to expand the known mineralization along strike and at depth. Additional
holes have been completed adjacent to DD18-SS010 on a 100 metre spaced drill grid, with
assays pending (see drill plan map, Figure 1).
ML Gold’s Stars project is ideally located 60km southwest of the resource town of Houston,
B.C. The project site is low -elevation, gentle topography, and is accessible by all -season
main line resource roads making it ideal for low-cost mine development.
Highlights:
A new mineralized feldspar porphyry intrusion has been intersected for the first time
in Hole 10 (see attached cross section, Figure 2).
Consistent disseminated mineralization is observed in the porphyry intrusion.
Mineralization also extends as vein -hosted chalcopyrite into the surrounding host
rocks (ex. Hole 4 - 204 m @ 0.5% CuEq, proximal to porphyry intrusion).
Hole 10 - 405.38 metres of 0.26% CuEq from 29.57 to 434.95 metres
o Including 188.97 metres of 0.33% CuEq from 178.92 to 367.89 metres
o Including 24.38 metres of 0.32% CuEq from 392.28 to 416.66 metres
o Including 79.25 metres of 0.40% CuEq from 203.30 to 282.55 metres
o Including 30.48 metres of 0.50% CuEq from 337.41 to 367.89 metres
Increased potassic alteration is observed at depth in DD18 -SS010 with coarse
disseminated chalcopyrite indicating proximity to the mineralized potassic core of the
system (see core detail photo, Figure 3).
o Rock units observed are potassic altered feldspar -phyric porphyry intrusion
along with hornfelsed and silicified Hazelton Group volcanics.
o These units are synonymous to the nearby Huckleberry deposit, with similar
observations of drill core made by ML Gold geologists.
The zone remains open along strike and to depth.
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
Comments:
Adrian Smith, President of ML Gold c omments “ We are very pleased with the extensive
interval of mineralization in our drill core. Hole 10 marks the first time on the Stars project
that we have seen large mineralized porphyritic intrusions, which is an exciting discovery on
its own. With this new discovery of mineralized porphyry rock, we have shown our ability to
follow vectors and find a broad zone of disseminated copper, as intersected in Hole 10 .
Observations by company geologists are consistent with the descriptions of mineralization
and alteration at the Huckleberry deposit, which adds to the technical understanding of the
system moving forward, and will allow us to rapidly advance the project.
Drilling at Stars is ongoing with the focus to follow the mineralized zone, and continue to
verge toward a potentially higher grade ore zone . Additional drilling around Hole 10 has
intersected similar porphyritic intrusions and we are excited for the receipt of the upcoming
assay results.”
Zone 4 Area Renamed Tana Zone:
Hole 10 identified porphyry-style mineralization within and surrounding the newly identified
unit to the south of the Zone 4 area. To acc ommodate this larger target area, the Company
is electing to rename the Zone 4 area the “Tana Zone” which will now encompass the entire
area around Hole 4 and the large magnetic low immediately to the south, east, and west.
Table 1 DD18-SS010 Significant Intercepts
Drill Hole: DD18-SS010 Zone: Tana Zone
Azimuth: 208°
UTM 83E: 613895
Dip: -60°
UTM 83N: 6010818
Length (m) : 489.81
Projection: NAD83
Hole ID From (m) To (m) Interval (m)1 Cu % Mo % Ag (g/t) Au (ppb) CuEq %2
DD18-SS010 29.57 434.95 405.38 0.20 0.0082 0.754 24 0.26
incl. 178.92 367.89 188.97 0.25 0.0119 0.824 35 0.33
incl. 392.28 416.66 24.38 0.25 0.0092 1.224 24 0.32
incl. 203.30 282.55 79.25 0.30 0.0144 0.945 43 0.40
incl. 337.41 367.89 30.48 0.40 0.0126 1.343 46 0.50
(1) The intervals reported in these tables represent drill intercepts and insufficient data is available at this time to state the true
thickness of the mineralized zone
(2) CuEq (Copper Equivalent) values are calculated using metal spot prices at market close on August 20th 2018
USD $2.70 / lb Cu, $11.80 / lb Mo, $14.75 / oz Ag, $1195 / oz Au
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
Table 2 Tana Zone Collar Information
Hole ID Assays UTM 83E UTM 83N Elevation Azimuth Dip Length (m)
DD18-SS010 Received 613895 6010818 875 208° -60° 489.81
DD18-SS011 Pending 613998 6010782 873 208° -60° 453.24
DD18-SS012 Pending 613846 6010724 847 208° -60° 306.93
DD18-SS013 Pending 613846 6010724 847 28° -80° 401.73
Hole 10 was collared 50 metres (“m”) east of Hole 4 (DD18-SS004) which intersected 204
metres at 0.5% CuEq. Hole 10 drilled south perpendicular to H ole 4 and appears to have
identified the mineralized intrusive, possibly related to the large chalcopyrite veins seen in
in Hole 4, 50 meters west (see drill plan map, Figure 1).
Additional maps are available on the Stars Project page at www.mlgoldcorp.com.
Central Target Area:
The Company continues to explore within the 5km magnetic ring f eature (“Central Target
Area” or “CTA”). New drilling at the Tana Zone has confirmed the p resence of a larger scale
porphyritic stock greater than 200m in width , proximal to the CTA . Previous drilling in the
CTA has intersected smaller mineralized porphyry dykes which cut the larger monzo diorite
intrusion. These smaller scale dykes may provide important exploration vectors to find
additional mineralized zones . The magnetic signature of the Tana Zone appears to extend
westward into the kilometer-scale CTA. Follow up drill holes are currently being planned to
test extension along strike into this area, which is covered by thick till overburden.
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 informa tion presented within
this news release.
Quality assurance/quality control procedures:
All drill core was logged, photographed, cut and sampled by ML Gold personnel. Prior to
shipment to MS Analytical’s sample preparation facility in Langley, B.C., cert ified reference
material standards and blanks were inserted at a ratio of approximately one in every 10 drill
core samples. Base metal assays are determined by IMS -230 4 -acid digestion with ICP -
AES/MS finish method, which reports results as parts per milli on (ppm). All analyses that
reach the overlimit of IMS -230 are reanalyzed with an ore -grade method. The analytical
results are verified with the application of industry -standard quality control and quality
assurance procedures. The gold assays are determined by FAS-111 fire assay method which
reports results in parts per million (equivalent to grams per tonne). Any samples with a fire
assay that report gold concentrations equal to or higher than 10.0 g/t Au are analyzed by
metallic screen method (Au-SCR24).
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 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.
“Adrian Smith”
Adrian Smith
President
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Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
Figure 1: Cross-section View A – A’
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
Figure 2: Plan Map
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
Figure 3: Potassically altered feldspar porphyry with coarse grained chalcopyrite
disseminations – Sampled 12.2m @ 0.48%Cu