ML Gold Expands Palmetto Gold Zones – Mineralization 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
June 15, 2017
ML Gold Expands Palmetto Gold Zones –
Mineralization Open Along Strike and To Depth
ML Gold Corp. (TSX-V: MLG; FSE: XOVN.F) (“ML Gold ” or the “Company”) reports
results from eight initial holes of its phase I drill program at the Palmetto Gold Project in
Nevada, where a first ever gold resource is being calculated. The initial 8 holes are part of a
15 hole program delineating mineralization in two main zones, the Discovery Zone and the
Northwest Zone. All drill holes encountered gold mineralization and most were successful in
establishing new zones of mineralization and extending known zones well beyond
historically identified limits. Mineralization remains open along strike, west and east, and at
depth. In addition, there is a strong potential for discovery of additional mineralized zones,
en echelon, which fall within the same property wide North-West trending structural corridor
(the “Palmetto Gold Trend”).
Drilling in the Northwest Zone followed up on 4 tightly clustered historical holes which were
identified to be in a wide -open area with high potential. Initial r esults from these holes,
stepping out 60 to 100 metres each time , returned wide m ineralized intercepts outlin ing a
broad area of gold mineralization at shallow depths . Drill hole P AL-17C03, the most
eastern hole in the Northwest Zone reports 103 metres of 0.4 grams per tonne
(“gpt”) gold, including 31.5 metres grading 1.1 gpt. To the west, drill hole PAL -
17R09 returned 24.4 metres grading 1.1 gpt, including 10 metres grading 2.0 gpt
gold. This gold mineralization remains open to depth and to the east and west,
representing a new open-pitable target at Palmetto Gold Project.
The Discovery Zone remains open to depth and to the west. Drill hole PAL -17R04 is the
westernmost step-out hole in the Discovery Zone to date and shows a thick gold mineralized
interval which will require additional follow-up testing in the next phase of drilling. Hole
PAL-17R01 intersected 68.6 m of 0.87 g/t gold targeting beneath the Discovery
zone indicating that mineralization continues to depth.
Each zone within the over-riding Palmetto Gold Trend shows an east- west orientation and is
made up of a combination of high grade low -sulphidation veins, breccias, and stockworks,
intercalated with disseminated gold mineralization within favorable stratigraphy.
Confirmation that the Northwest Zone is in fact an independent zone, open to the east, west
and to depth, following the same pattern as the Discovery Zone, indicates that there is a
potential to discover additional zones by tracking this emerging pattern.
The table below outli nes the results from the initial eight holes at ML Gold’s Palmetto Gold
Project. Results are pending for the remaining seven holes.
Discovery Zone depth extension
Hole ID Azimuth Dip From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
PAL-17R01 0 -85 184.4 253.0 68.6 0.87 1.32
incl. 184.4 185.9 1.5 1.45 0.90
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
incl. 195.1 222.5 27.4 1.10 1.63
incl. 211.8 219.5 7.6 3.56 3.07
incl. 231.6 253.0 21.3 1.25 1.43
incl. 240.8 243.8 3.1 8.26 6.58
East Discovery Zone stepout
Hole ID Azimuth Dip From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
PAL-17R03 0 -65 221.0 224.0 3.1 0.23 2.70
249.9 259.1 9.1 0.14 2.91
West Discovery Zone stepout
Hole ID Azimuth Dip From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
PAL-17R04 180 -65 167.6 192.0 24.4 0.54 4.91
incl. 176.8 189.0 12.2 0.85 8.51
incl. 176.8 182.9 6.1 1.02 9.02
213.4 219.5 6.1 0.15 3.16
Northwest Zone - west stepout
Hole ID Azimuth Dip From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
PAL-17R05 0 -60 91.4 120.4 29.0 0.25 2.60
incl. 112.8 117.3 4.6 0.42 6.12
214.9 217.9 3.1 0.28 1.57
PAL-17R06 180 -70 195.1 216.4 21.3 0.50 2.04
incl. 195.1 198.1 3.1 2.71 0.30
239.3 262.1 22.9 0.34 0.48
incl. 239.3 242.3 3.1 0.68 0.54
incl. 246.9 248.4 1.5 3.25 2.54
PAL-17R09 0 -60 125 149.4 24.4 1.10 8.47
incl. 135.6 146.3 10.7 2.00 13.78
Discovery Zone
Hole ID Azimuth Dip From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
PAL-17C02 0 -75 134.4 137.8 3.4 0.20 1.54
141.5 146.9 5.4 0.13 1.01
179.4 181.4 2.0 0.15 0.47
190.0 209.2 19.3 0.44 2.58
incl. 194.2 205.0 11.0 0.73 3.19
incl. 197.4 200.3 2.9 2.52 9.19
230.7 235.3 4.6 0.19 1.22
252.7 262.9 10.2 0.20 1.89
incl. 258.8 261.5 2.7 0.58 3.05
Northwest Zone
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
Hole ID Azimuth Dip From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
PAL-17C03 0 -68 76.5 179.7 103.2 0.4 5.98
incl. 134.5 166.0 31.5 1.08 16.80
incl. 134.5 142.6 8.1 1.91 32.94
incl. 154.2 166 11.8 1.48 19.16
incl. 154.2 156.3 2.1 7.31 96.46
Interestingly, it is noted by previous operators that the Red Rock Mercury mine, now located
on the Palmetto Property, 1.5 kilometres to the northwest of t he Discovery Zone, had
increasing gold c oncentrations at depth. The Red Rock Mercury mine falls within the
Palmetto Gold Trend and could be the upper portion of yet another gold system on the
property.
Andrew Bow ering, Chairman of ML Gold c omments “ The Northwest Zone is quickly
expanding and could form a significant open -pitable resource adding to the global gold
ounces on the Palmetto project. We are excited by how similar the Palmetto Gold Project is
looking to the North Bullfrog deposits currently being operated by Corvu s Gold Inc, 150km
southwest along the same Walker Lane mineral belt . The consistent pervasive nature of the
gold encountered on the property to date is significant and will require additional drilling to
further expand and define the resource potential.”
ML Gold Corp. has an option to acquire a 100% right, title and interest to the Palmetto
project (see news release dated October 18, 2016) . The Palmetto Project is located in
Esmeralda County, Nevada, within the southern portion of the Walker Lane Gold Trend.
Quality Assurance/Quality Control
Sample preparation and analyses for this program were completed at ALS Minerals Lab in
Reno Nevada . Gold was determined by 30g Fire Assay with Atomic Absorption
Spectrophotometry (AAS) finish. O ther elements were determined by Ultra Trace Aqua
Regia digestion with Inductively Coupled Plasma Mass Spectrometry (ICP -MS) finish.
A comprehensive quality assurance/quality control program including duplicate samples,
blanks and standards form part of ML Gold’s sampling protocol in addition to the
laboratory's own quality assurance program. The field program was supervised by ML Gold
staff and contractors and the technical information in this news release has been prepared
in accordance with Canadian regulatory requirement s as set out in National Instrument 43 -
101, and reviewed by Adrian Smith, Director, and a Qualified Person as that term is defined
in NI 43-101.
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.
Suite 2000 – 1177 West Hastings St
Vancouver, BC Canada V6E 2K3
T: 604-669-2279 / F: 604-602-1606
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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