VANCOUVER, BC–(Marketwired – May 03, 2017) – Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) (“Broadway” or the “Company”) is pleased to report high-grade results from underground drilling at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana, USA. Hole U17-05 returned three-foot intercepts ranging from 0.074 to 178.5 grams per tonne (g/t) gold within a 99-foot interval averaging 24.5 g/t gold and 0.391% copper. The 99-foot intercept includes a nine-foot interval of 82.87 g/t gold and 0.366% copper and a three-foot interval of 178.50 g/t gold and 0.274% copper. True width is estimated at 70 percent.
Assay Results Summary
The complete assay results for the intervals and the accompanying drill plan can be found on the current exploration page of the Company’s website.
“The Madison Project continues to exceed our expectations and these are some of the highest intercepts returned to date. After a series of excellent copper intersections released so far this year, we have now hit a new, high-grade auriferous massive sulphide zone that is open and widening at depths below previously explored areas,” said Duane Parnham, President and CEO of Broadway. “This high-grade zone is easily accessible from the 600-level underground workings, with open access via a freshly rehabilitated ramp. We look forward to receiving and reporting on the remaining underground drill holes as assays results are received and tabulated.”
U17-05 was drilled on an azimuth of 249 degrees at a dip of -25 degrees, parallel to the longer axis of the steeply dipping ovoid cylindrical massive sulfide body plunging near vertical at 15 degrees south-southwest and measuring roughly 98 feet by 55 feet on the 600 level, and containing massive sulphides with pyrite, pyrrhotite and chalcopyrite.
The U17-05 intersection consisted of massive sulfide inter-fingered with epidote-garnet skarn. Mineralization is described as 1% to 30% pyrite, 0% to 10% pyrrhotite, 1% to 15% chalcopyrite and 0% to 7% magnetite. Individual three-foot assays in the mineralized zone ranged from 0.074 to 178.5 g/t gold with eight of the 33 samples returning values in excess of 34.3 g/t gold.
To date, the underground program comprises seven holes drilled in a fan formation. Holes UG17-01 to UG17-06 were drilled at -23 to -27 degree dips and azimuths from 234 to 315 degrees. UG17-07 was drilled at a -45 degree dip and 248 degree azimuth from the 600 level. Hole lengths varied from 54 to 222 feet. Five of the seven holes intersected visible massive sulphide mineralization. Broadway cautions investors that results for the other four underground holes intersecting the massive sulfide horizon have not yet been received.
These underground holes were designed to target an extension of high-grade gold mineralization below the 600 level (350 feet below surface). The mineralization appears to extend below the 900 level (460 feet below surface) and pinches above the 500 level (270 feet below surface). The zone was one of several pods of high-grade copper and gold mined at both the Madison and Broadway mines. It appears to be widening and open at depth based on past mining from the 500 level.
The Company has completed seven underground holes from the 600 level totaling 1,108 feet and 19 surface drill holes totaling 12,510 feet. Assay results for the first underground hole and seven surface holes have now been released. The core for the remaining six underground holes and a further eight surface holes are at or in shipment to the ALS Minerals laboratory in North Vancouver, British Columbia for analysis. The Company expects to complete the sampling and shipping of the remaining surface holes within the next two weeks.
All analyses were completed at the North Vancouver ALS Minerals laboratory, 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. Groundhog Mining of Dillon, Montana is the contractor performing the underground drilling 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 4 acid digestion of a 1 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-ICP61 analysis followed by 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.
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.