VANCOUVER, BC--(Marketwired - July 11, 2017) - Broadway Gold Mining Ltd. (
Highlights of the results include:
- 1.725% Cu and 0.097 grams per tonne (g/t) Au over 49.4 meters in hole C17-16
-- Including 2.571% Cu and 0.151 g/t Au over 30.2 meters
- 1.020% Cu and 0.159 g/t Au over 31.1 meters in hole C17-17
"We continue to see strong and consistent copper mineralization on the property, reporting our longest and strongest copper intersection to date," said Duane Parnham, President and CEO of Broadway Gold Mining. "The jasperoid body continues to be well mineralized and has now been traced a total of 85 meters to the northwest of the decline, verifying one of a series of chargeability highs located during our initial IP survey. These multiple chargeability highs form a semi-continuous, horseshoe-shaped zone, mirroring the intrusive / carbonate contact over a strike length in excess of 800 meters. The upcoming Phase III surface drill program will focus on testing these chargeability highs, suspected to be continuations of the jasperoid horizon."
Assay results for one additional surface hole, C17-20, are pending. Following its release, Broadway will develop specific plans for its next phase of drilling in support of the comprehensive proposed geological model for the Madison property.
The main copper interval in C17-16 was contained entirely within a 49.4-meter jasperoid breccia. Stronger copper values were located in the lower two-thirds of the unit, below a zone of faulting and associated with visible native copper and copper oxides. A second 2.7-meter interval lower in the hole was found in a zone of highly altered marble containing copper oxides.
The main copper interval in C17-17 was contained in a 23.8-meter jasper, jasperoid breccia and gossan zone, carrying into the uppermost 7.3 meters of the underlying epidote-diopside-garnet skarn. Mineralization consisted predominantly of native copper. A second 14.6-meter interval higher in the hole also consisted of a jasper and jasperoid breccia with interbedded marble. No visible copper mineralization was noted in this interval.
Assay Results Summary
The true thickness of the copper and gold zones have not yet been established
Nothing of significance was noted in C17-18 drilled to the northwest of C17-17. The IP indicated the area through which C17-18 was drilled lies to the northwest of the chargeability anomaly in a zone of low chargeability. The chargeability anomaly appears to pick up again further to the northwest of this hole, suggesting C17-18 was drilled into a barren zone within the anomaly.
All analyses were completed at the ALS Minerals Laboratory in North Vancouver, British Columbia, an ISO/IEC 17025:2005 certified facility. Broadway is utilizing a program of third-party standards and blanks inserted at regular intervals through the sample stream as its QA/QC program. AK Drilling, Inc. of Butte, Montana is the contractor performing the surface drilling programs.
Sample Preparation and Quality Control
Supervision, organization and splitting of drilling core samples were undertaken by company personnel. Samples were collected at three-foot intervals from half-core samples. Samples were catalogued by Broadway geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each drill hole at random intervals. Blank material was also inserted at random intervals. Samples were packed into rice bags, zap strapped and securely stored until they were turned over to the local trucking company for transport to the ALS Minerals Laboratory in North Vancouver, B.C.
Laboratory Quality Assurance/Quality Control
Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-904, OREAS-45b, OGGeo08 and PGMS25. No issues were noted with analytical accuracy or precision.
Three different assay procedures were designed by ALS Minerals for the samples, based on the presence of copper sulfides or oxides, and native copper. The standard assay procedure of Au-ICP21 and Cu-ICP61 was applied to most of the samples. Au-ICP21 is a 30 gram fire assay with an ICP-AES finish. ICP61 is a four acid digestion of a one gram sample with an ICP finish. Samples with visible copper mineralization received a Cu-OG62 copper analysis, a four acid digestion of a 0.5 grams sample with ICP-AES finish. OG62 has a copper range from 0.001 to 40%, while the ICP61 analysis has a copper maximum range of 10,000 ppm. Samples with visible native copper received a duplicate Cu-OG62 analysis that included a WSH-22 procedure where the pulverizers are cleaned with barren material after every sample. Over-limit copper values from the ICP61 analyses received an OG62 procedure to determine the final Cu grade.
R. Tim Henneberry, P.Geo., a Director of Broadway and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with advanced exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project 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 provide compelling drill targets that are believed to be associated with large-scale porphyry mineralization.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Broadway are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Broadway's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Broadway with securities regulators. Broadway expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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