Jun 26, 2012 (ACCESSWIRE-TNW via COMTEX) — TORONTO, CANADA – June 26, 2012 – Mr. Thomas Skimming, CEO of MacMillan Minerals Inc., /quotes/zigman/10214476 CA:MMX +30.00% is pleased to announce that the Company has expanded the diamond drilling program 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 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 initial diamond drill program originally consisted of three holes which have been completed on the La Raizura Target as news released June 18, 2012. The drill program has now been extended to include two drill holes on the El Molino Target. The drilling is under contract with Alamo Drilling S.A. de C.V. under the supervision of Company geologists.
The El Molino target is located about 750 metres to east-northeast of the La Raizura Target and about 300 metres to the west of the La Azurita Target. The area contains four vein-like structures within an area which measures 100 metres wide by a minimum of 380 metres long that is open in both directions. Three of the structures strike northeast and dips are variable to the northwest and southeast. Of these three, the main vein structure is 15 metres wide and appears to extend over the entire 380 metre strike length as traced in both abundant outcrops and float material. The other two structures are inferred from float tied to limited outcrops and range from 1 metre to 4 metres in width. A vein “blowout” measuring about 60 metres long and 30 metres wide outcrops and consists of quartz veins and veinlets oriented northwest and dipping steeply to the northeast. Two old pits have been located within the “blowout” area. Three samples from one of the old pits reported 1.133 g/t Au and 143.3 g/t Ag over 3 metres. The other pit yielded 1.156 g/t Au and 26.5 g/t Ag over 2.05 metres. Results from nine other samples collected from this zone reported Au values ranging from 0.131 g/t to 4.844 g/t Au with Ag values ranging from 5.2 g/t to 95.4 g/t. Of the 28 samples collected within the area measuring 100 metres by 380 metres, three ranged from 0.5 to 1.0 g/t Au, eight were from 1.0 to 2.0 g/t Au, two were from 2.0 to 3.0 g/t Au, and one sample had a high value of 4.84 g/t Au. Silver values ranged from less than 0.5 g/t up to 198.0 g/t
The mineralization at the El Molino Target consists of coarsely crystalline, black tourmaline-quartz filled vein-like breccias and banded veins. In addition to quartz and tourmaline, the veins contain iron and manganese oxides, local specularite, and traces of pyrite, chalcopyrite, galena, sphalerite, and copper carbonates. The colour of the quartz veins varies from light gray to dark grey to black depending on the tourmaline content. The veins locally exhibit banding. The tourmaline often occurs as radiating rosettes of thin, 0.5 to 3 mm long needles within a pale gray quartz matrix. The presence of widespread gold and silver values and the width of the target zone make the area an immediate drill target. Two drill holes are planned to transect the width of the target from opposite sides of the zone. The first hole is being drilled towards the southeast from the west side of the target to test the three northeasterly trending vein-structures. The second hole will be drilled from the eastern side of the target in order to test the “blowout” vein structure. The two holes at the El Molino Target will total approximately 200 metres.
QUALITY ASSURANCE / QUALITY CONTROL
Rock samples represent continuous chip/channel samples across outcrops and grab samples from float material. All samples are shipped to Inspectorate Assay Laboratory for preparation in Durango, Mexico and then forwarded for analysis in Reno, Nevada. Analyses are carried out for gold (30 gram sample fire assay with an AA finish), as well as a multi-element ICP analytical package. Gold values over 10 grams and silver values over 100 grams are assayed by fire assay with a gravimetric finish. A rigorous quality assurance/quality control program is in place, with standard and blank samples inserted in every batch of 20 samples. Results indicate acceptable precision and lack of inter-sample contamination. The exploration work is 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. Thomas Skimming, CEO of MacMillan states: “We are very pleased to have completed the initial drilling at the La Raizura target in a timely manner which will now allow us to complete this expanded drill program before the onset of the rainy season at Las Cucharas. We look forward to the release of results later this summer after all assays have been received and evaluated.”
