Located in the heart of the Butte-Anaconda mining region of Montana, USA, Broadway’s Madison project is 38 kilometres southeast of Butte, Montana, the location of the world-renowned Butte copper mine. The property covers 1,871 acres with extensive underground development and facilities. It is a gold-copper skarn deposit associated, which consists of six federal patented lode claims and 76 under-explored, unpatented mineral claims. In addition, the project has a 192-acre ranch, together with permits, rights, interests, mining equipment, buildings and fixtures and an exploration database that includes 105 drill holes, multi-element and gold assays from rock-chip sampling and bulk sampling, and detailed geologic mapping.
Madison is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine’s perimeter, the company’s exploration program has identified new anomalies across its extensive land package that provides compelling drill targets that are believed to be associated with large-scale porphyry mineralization.
The Madison project also hosts the Broadway Gold Mine, where historic production from the 1880s to the 1950s yielded an estimated 144,000 ounces of gold from 6,000 feet of underground workings to a vertical depth of 750 feet.
Gold and Copper Shipments 2008 to 2013
Drill programs and bulk sampling were completed by the previous owner at the Madison Mine between 2005 and 2012, stockpiling oxide gold, massive sulphide gold and copper mineralization for subsequent mill shipment. A crushing plant, certified weigh scale and sufficient power exist on the current property.
In 2008, the first oxide gold averaging 19 g/t was shipped to Barrick Gold’s nearby Golden Sunlight Mine in Whitehall, Montana.
The first sulphide gold averaging 20 g/t was shipped to Kinross Gold’s Republic Mine in Republic, Washington in 2009.
Based on data from 12 shipments, the gold recovery had an overall average of 83%.
Historically, approximately 20,000 tons (14,597 tons of gold skarn, 5,208 tons of copper skarn) was shipped as bulk samples during underground development and trial mining, with recoveries of 7,570 ounces of gold and 3,020,000 pounds of copper. The previous owner did not calculate a mineral resource or reserve estimate.
Surface and underground drilling confirmed the existence of the high-grade gold and copper zones prior to bulk testing. Highlighted intercepts include:
|Drill Hole||Au Intercept (m)||Au Grade (g/t)||Cu Intercept (m)||Cu Grade (%)|
The drill intercepts were summarized by Broadway from the previous owner’s drill hole database. These historic drill intersection highlights are down hole lengths not true width lengths. True width conversions were not included in the drill hole database. Broadway management believes the majority of these drill intersections were subsequently bulk sampled by the previous owner.
In March 2017, Broadway reported high-grade drill results in the upper zone at Madison.
Highlights of the results from hole C17-01 include:
- 156-foot section grading 1.01% copper and 0.48 grams per tonne (g/t) gold between 342.5 feet and 498.5 feet including a 9-foot interval containing visible native copper in the core sample grading 7.14% and 0.56 g/t gold.
- Individual 3-foot samples from the interval ranged from a low of 0.194% to a high of 10.14% copper with 35 of the 52 samples returning values in excess of 0.5%.
- In addition a 12-foot interval returned 2.65 g/t gold and 0.829% copper, including a 3-foot interval that ran 7.35 g/t gold and 0.821% copper.
Highlights of the results from hole C17-03 include:
- 168-foot section grading 0.57% copper and 0.19 g/t gold between 405 feet and 573 feet including a 9-foot interval containing visible copper oxides in the core sample grading 1.30% and 0.05 g/t gold.
- Individual 3-foot samples from the interval ranged from a low of 0.182% to a high of 1.36% copper with 27 of the 56 samples returning values in excess of 0.5%.
Highlights of the results from hole C17-07 include:
- 141-foot section grading 1.18% copper and 1.22 grams per tonne (g/t) gold between 398 feet and 539 feet including a 33-foot interval containing visible native copper and copper oxides in the core sample grading 3.45% and 0.14 g/t gold.
- Individual 3-foot samples from the interval ranged from a low of 0.193% to a high of 6.69% copper with 23 of the 47 samples returning values in excess of 0.5%.
- In addition a 33-foot interval returned 4.92 g/t gold and 0.52% copper, including a 12-foot interval that ran 9.34 g/t gold and 0.66% copper.
Workings remain open and all permits from the bulk sampling programs remain in good standing. The Madison Mine’s Small Miners Exclusion Statement (SMES) allows for maximum surface disturbance of five acres, but with no upper limit on the amount of bulk sampling per year.