May 28, 2012 (ACCESSWIRE-TNW via COMTEX) — TORONTO, CANADA – May 28, 2012 – Mr. Thomas Skimming, CEO of MacMillan Minerals Inc., is pleased to announce that the Company has commenced a diamond drilling program on the La Raizura Target at the Las Cucharas Gold and Silver Project. 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.
Land use agreements and environmental permitting are in place to allow exploration activities including trenching and drilling at the Las Cucharas Project. A diamond drill contract for a total of 750 metres has been signed with Alamo Drilling S.A de C.V. Also, a bulldozer tractor was contracted and 150 metres of access road and three drill pads were completed in preparation for the drill program.
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. These claims are located in the southern portion of Company’s Las Cucharas Project, which 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 La Raizura Target (see the attached map of La Raizura with underground and surface trench sampling results and the location of the three planned 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 northwesterly trending zone. This northwesterly 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 a 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 a 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 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 a true width of 0.89 metres. The width of the vein structure is estimated to be 4 metres in this area, suggesting that the grade and width of the zone is increasing towards the northwest. This main vein is the principal target of the three hole diamond drill program as shown on the attached La Raizura map which is currently in progress.
Two southwesterly 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 a 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
Samples represent continuous chip/channel samples collected across the mineralized area. The initial 38 samples 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. Gold values over 10 grams and silver values over 100 grams were assayed by fire assay with a gravimetric finish. The remaining samples were shipped to Stewart Group Laboratories, for preparation in Zacatecas, Mexico and analysis in Kamloops, BC. Assays were 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 1 gram and silver values over 50 grams were 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 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. Thomas Skimming, CEO of MacMillan states: “We are very pleased to have commenced drilling at the La Raizura target. The historical workings have given us very useful insight into the type and style of mineralization that we will be pursuing on the Minerva and on the surrounding El Oro claims. Mineralization of multi-gram gold and multi-hundred gram silver is definitely of interest to MacMillan at these historically high gold and silver prices.”
For additional information, contact: Tel: (416) 867-1101 Fax: (416) 867-1222
Email: [email protected]
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