Mar 25, 2013 (ACCESSWIRE-TNW via COMTEX) — TORONTO, CANADA – March 25, 2013 – Mr. George A. Brown, President of MacMillan Minerals Inc., /quotes/zigman/10214476 CA:MMX -14.29% is pleased to announce that the Company has received written notification of title numbers issued for each of the five concessions being sought by the Company. Applications for these five concessions were originally filed by the Company through the normal staking process. Due to competing applications filed by other interested parties on the same day as these claims became available for staking, the concessions became subject to the regulatory lottery process. These five concessions have been awarded to the Company as the winner of this lottery process.
The five concessions cover an area of 1,036 hectares in the state of Nayarit. Once the title documents have been received by the Company, these five concessions will be added to the existing thirteen concession Las Cucharas Project which will bring the size of this project to 4,679 hectares. The Las Cucharas Gold and Silver Project is 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 occur mainly within a six kilometre long by two kilometre wide mineralized corridor.
The Company has completed four diamond drill holes on the concessions covered by these five new grants. These core holes were collared to test vein and structural zones on the Nuevo Cucharas Target (holes NC-01 and NC-01A) and on the La Union targets (holes EC-01 and LU-01). Nuevo Cucharas Target La Union Targets
This area is located about 2.25 km north-northwest of the Nuevo Cucharas target. At the La Union target, a historical 70 metre cross-cut was driven to exploit a quartz vein along a 25 metre drift within a quartz stringer vein system which strikes west-northwest and dips 70 degrees southwest. Wall rocks exhibit strong brecciation with quartz veining and silicification and with moderate to strong iron oxide and clay alteration. The vein and structures strike west-northwest and dip 70 degrees southwest and have been traced with confidence over a strike length of 200 metres. Local wall rocks consist of andesite, rhyodacite and a lithic breccias. Sampling from the workings reported 3.4 g/t Au and 233 g/t Ag over 1.7 metres, as well as 1.58 g/t Au and 104 g/t Ag over 3 metres from the vicinity of the vein. Also a northeast trending, crosscutting structure encountered in the adit assayed 7.2 g/t Au and 624.8 g/t Ag over 1.7 metres.
The El Cardon vein is located approximately 100 metres east of La Union. It trends north-northwest, sub-parallel to the La Union zone, and dips steeply from southwest to northeast. Wall and country rocks are the same units as at La Union, and include andesite, rhyodacite and lithic breccia units. The zone consists of a quartz vein and fault splays generally less than a metre wide; however, alteration consisting of weak to moderate silicification and moderate to strong iron oxide and argillization extend 15 to 40 metres outward from the vein. The principal workings consist of a collapsed stope or shaft, now represented on surface by a depression about 10 metres in width which is historically reported to reach depths of 115 metres, as well as a now inaccessible adit, located approximately 220 metres northwest of, and topographically below the shaft collar. Only wall rock remnants of the vein are exposed consisting of variably silicified fault breccias and argillized gouge. The zone has been traced for a distance of approximately 450 metres on surface, disappearing under younger volcanic cover to the southeast, where it may potentially intersect the La Union vein. The El Cardon vein was extensively exploited, and was mined as recently as the early 1990’s with the mineralized rock directly shipped to a smelter in Torreon, Coahuila.
Along an 80 metre strike segment, MacMillan geologists completed five chip sample lines (25 samples) across the El Cardon vein near the historic workings. Sample results yielded the following notable values (widths are estimated true widths).
?.2.65 g/t Au and 120 g/t Ag over 4.75 metres
?.6.18 g/t Au and 376 g/t Ag over 4.7 metres
?.3.49 g/t Au and 329 g/t Ag over 4.1 metres
?.2.15 g/t Au and 105 g/t Ag over 2.0 metres
?.0.54 g/t Au and 134 g/t Ag over 1.2 metres
Drill hole LU-01 was collared directly under the La Union working to test the fault-vein zone at a vertical depth of approximately 70 metres. The hole was drilled for 175.9 metres in length and it initially encountered porphyritic andesite and andesitic lapilli tuff. The hole ended in 53 metres of rhyolitic tuff. The depth extension of the La Union vein was intersected from 83.1 metres to 89.2 metres and it consists of quartz veins and breccia zones with minor pyrite, galena and sphalerite.
The core was split and samples of the core were shipped to Inspectorate Assay Laboratory, for preparation in Durango, Mexico and analysis in Reno, Nevada. Analyses were carried out for gold (30 gram sample fire assay with an AA finish), as well as a multi-element ICP analytical package. Under this standard assay package, if any gold values report over 10 grams or if any silver values report over 100 grams, then those samples are assayed by fire assay with a gravimetric finish. A rigorous quality assurance/quality control program is in place, with certified standard and blank samples inserted in every batch of 20 samples. The results of these four diamond drill holes are expected to be released by the Company after the Company has received the five title documents, has received the assay results from the lab, and the Company has completed a review and compilation of the results.
Mr. William Hamilton, P. Geo., Manager of Exploration, is a Qualified Person under the meaning of National Instrument 43-101 and is responsible for any technical information contained in this news release.
MacMillan is an exploration company with a focus on gold and silver exploration on numerous properties in Mexico. 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]
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