Sep 27, 2012 (ACCESSWIRE-TNW via COMTEX) — TORONTO, CANADA – September 27, 2012 – Mr. George A. Brown, President of MacMillan Minerals Inc., /quotes/zigman/10214476 CA:MMX +20.00% is very pleased to announce the positive results of the three hole diamond drill program at the La Raizura Target at the Las Cucharas Gold and Silver Project in Mexico. Mr. William Hamilton, P. Geo., Manager of Exploration, is a Qualified Person under the meaning of National Instrument 43-101 and is responsible for all technical information contained in this news release.
The Las Cucharas Gold and Silver Project is comprised of 13 titled claims covering 3,643 hectares situated in the northern part of Nayarit State in Mexico. Additional information regarding the Las Cucharas Project is available in a Technical Report dated February 27, 2012 by R.A. Lunceford, M.Sc. CPG, titled “Geological Report and Summary of Field Examination, Las Cucharas Project” as filed on SEDAR on March 29, 2012. The Las Cucharas Project covers a series of generally northwest trending vein structures which mainly occur within a 6 km long by 2 km wide mineralized corridor (see the attached map of the Las Cucharas Project). The Company has been conducting phased exploration programs with the goal of identifying significant mineralization within the Las Cucharas Gold and Silver Project with which the Company wishes to eventually solicit interest in a purchase or joint venture from a mid-tier or senior producer.
The La Raizura Target is on the 100% owned 10 hectare Minerva claim that is surrounded on all sides by the Company’s 100% owned 733 hectare El Oro claims. Three diamond drill holes were drilled under contract to Alamo Drilling S.A. de C.V. under the supervision of Company geologists. All three holes were drilled at an azimuth of 045 degrees and a dip of minus 50 degrees.
Hole 1 was completed to 185.15 metres and it intersected the Main Zone Target and a subsequent splay zone. The main zone was intersected down hole from 96.5 metres to 110.0 metres for 13.5 metres (estimated true width 13.0 metres) reporting 1.946 g/t Au and 14.6 g/t Ag. This intercept included 2.6 metres (estimated true width 2.5 metres) from 96.5 metres to 99.1 metres reporting 2.975 g/t Au and 13.3 g/t Ag and also 4.1 metres (estimated true width 4.0 metres) from 105.9 metres to 110.0 metres reporting 3.987 g/t Au and 31.6 g/t Ag. The subsequent splay intersected was 4.5 metres (estimated true width 3.5 metres) from 159.9 metres to 164.4 metres reporting 0.087 g/t Au and 39.6 g/t Ag.
Hole 2 was completed to 212.0 metres from a location 20 metres to the northwest of Hole 1. Hole 2 intersected 0.9 metres (estimated true width 0.8 metres) from 111.0 metres to 111.9 metres reporting 1.243 g/t Au and 10.5 g/t Ag.
Hole 3 was completed to 145.4 metres from a location 40 metres to the southeast of Hole 1. Hole 3 intersected 11.6 metres (estimated true width 3.6 metres) of the north-south zone from 77.6 metres to 89.2 metres reporting 1.774 g/t Au and 74.1 g/t Ag. This intercept included 7.2 metres (estimated true width 2.24 metres) from 77.6 metres to 84.8 metres reporting 2.547 g/t Au and 103.9 g/t Ag.
——————————————————————-
|A |From |To |Intercept|Estimated|Au |Ag |Pb % |Zn % |
|Hole 1 – |(m) |(m) |Width | |g/t |g/t | | |
|185.15 m | | |(m) |True | | | | |
| | | | |Width | | | | |
| | | | |(m) | | | | |
|—————————————————————–|
|Intercept|96.5 |110.0|13.5 |13.0 |1.946|14.6 |0.193|0.316|
|1 | | | | | | | | |
|—————————————————————–|
|A |95.5 |99.1 |2.6 |2.5 |2.975|13.3 |0.135|0.283|
|includes | | | | | | | | |
|—————————————————————–|
|A also |105.9|110.0|4.1 |4.0 |3.987|31.6 |0.499|0.796|
|includes | | | | | | | | |
|—————————————————————–|
|Intercept|159.9|164.4|4.5 |3.5 |0.087|39.6 |NSV* |NSV* |
|2 | | | | | | | | |
|—————————————————————–|
|A |A |A |A |A |A |A |A |A |
|—————————————————————–|
|Hole 2 – |111.0|111.9|0.9 |0.8 |1.243|10.5 |0.317|0.546|
|212.0 m | | | | | | | | |
|—————————————————————–|
|A |A |A |A |A |A |A |A |A |
|—————————————————————–|
|Hole 3 – |77.6 |89.2 |11.6 |3.6 |1.774|74.1 |0.068|0.467|
|145.4 m | | | | | | | | |
|—————————————————————–|
|A |77.6 |84.8 |7.2 |2.24 |2.547|103.9|0.037|0.520|
|includes | | | | | | | | |
|—————————————————————–|
|A A |77.6 |79.4 |1.8 |0.56 |2.856|131.1|0.041|0.337|
|which | | | | | | | | |
|includes | | | | | | | | |
|—————————————————————–|
|A A |81.65|84.8 |3.15 |0.98 |4.138|159.0|0.048|0.992|
|which | | | | | | | | |
|also | | | | | | | | |
|includes | | | | | | | | |
|—————————————————————–|
|A also |88.0 |89.2 |1.2 |0.37 |1.707|83.8 |0.396|0.973|
|includes | | | | | | | | |
——————————————————————-
*NSV represents no significant value reported
The La Raizura Target (see the attached map of La Raizura with underground and surface trench sampling results and the location of the three completed drill holes) has two historical underground workings that were excavated along a northerly trending structure. The two workings are located approximately 25 metres apart separated by a flat-bottomed gully. The southern working consists of a 4.5 metre long adit. Three samples reported a weighted average grade of 0.833 g/t Au and 440.6 g/t Ag over a true width of 0.77 metres along the length of the adit. The northern adit extends on the north vein for a distance of 13 metres. Three samples collected along the length of the adit averaged 0.684 g/t Au and 269.1 g/t Ag over a true width of 1.42 metres. At a distance of 12 metres from the entrance, the north adit intersects a north-westerly trending zone. This north-westerly zone is the main zone where the historical high grade mining occurred. It has been mapped and sampled underground over a distance of 71.1 metres up to the point where an old cave-in prevented further sampling. Eight samples collected along the initial 28.3 metres of this main working averaged 1.054 g/t Au and 174.6 g/t Ag over an estimated true width of 1.44 metres. Fifteen samples collected along the remaining 42.8 metres of the working averaged 3.791 g/t Au and 337.3 g/t Ag over an estimated true width of 2.5 metres. The total 71.1 metre accessible length of this structure reported a weighted average of 3.038 g/t Au and 292.5 g/t Ag over an average estimated true width of 2.08 metres. The most northerly sample collected near the point of the cave-in reported 12.1 g/t Au and 870.0 g/t Ag over an estimated true width of 0.89 metres.
Two northeasterly trending veins were also observed in the old workings. Two samples collected within an 8 metre long drift along one of these structures reported 4.923 g/t Au and 1,009.1 g/t Ag over an estimated true width of 0.55 metres and 1.420 g/t Au and 128.0 g/t Ag over a 1.6 metre sample width. A sample collected from the second southwest trending zone assayed 4.0 g/t Au and 650.0 g/t Ag over a sample width of 1.5 metres. These southwest striking zones may correlate with a 100 metre long by 30 to 40 metre wide zone of cryptocrystalline quartz located in rhyolitic rock approximately 500 metres southwest of the old working.
The structures consist of zones of strong fracturing and brecciation containing quartz veining with minor quantities of pyrite, sphalerite, galena and iron oxide mineralization. Alteration of the host andesite consists of weak silicification and weak to moderate iron oxide development. The andesite is overlain by rhyolitic rocks which are much less favourable for mineralization and hence largely act as a cover over the mineralized system. A series of caved-in workings and old exploration pits indicate that the main zone has a minimum strike length of 105 metres. The projection of the main zone should extend across the boundary between the Minerva claim and the El Oro claim which is approximately 65 metres northwest of the caved-in area underground. The main zone remains open to the northwest and at depth. It is not currently known whether the north-south trending structure displaces the main zone towards the southeast and this will be the subject of further exploration. The north-south trending mineralized structure also remains open along strike and at depth.
QUALITY ASSURANCE / QUALITY CONTROL
Drill core samples were split and logged by Company personnel at a secure location near the property. All samples were shipped to Inspectorate Assay Laboratory for preparation in Durango, Mexico and were then forwarded for analysis in Reno, Nevada. A rigorous quality assurance/quality control program is in place, with certified standard and blank samples inserted in every batch of samples. The exploration work was carried out under the supervision of the Company’s Manager of Exploration, Mr. William Hamilton, P.Geo, and a Qualified Person as defined by National Instrument 43-101.
Mr. George A. Brown, President of MacMillan, states: “We are very pleased to have completed this initial drilling at the La Raizura target. The historical workings have provided us with useful insight into the type and style of mineralization that we will continue to pursue on the Minerva and on the surrounding El Oro claims. The reported true width of 13.0 metres in hole 1 is greater than the expected width of the main zone based upon our observations and sampling in the old workings prior to drilling. Some of the silver grades reported are lower than those expected, however, we feel confident that further drill testing will present excellent potential for intersecting significantly higher grades of silver based upon our observations and sampling of the old workings.”
The Company has been actively exploring the Las Cucharas Project in Mexico. The Company has also completed two diamond drill holes in June for 120.9 metres and 89.0 metres respectively at the El Molino Target; and one diamond drill hole in July for 65.5 metres at the La Azurita Target. The results of these will be reported once they have been compiled and reviewed.
MacMillan is an exploration company with a focus on gold and silver exploration on numerous properties in Mexico and has been listed on the TSX Venture since May 23, 2012. Additional information on the Company can be viewed at www.sedar.com
For additional information, contact: Tel: (416) 867-1101 Fax: (416) 867-1222
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release
