Toronto, Ontario–(Newsfile Corp. – January 4, 2018) – McLaren Resources Inc. (CSE: MCL) (FSE: 3ML) (“McLaren” / the “Company”) announces that it has recently completed an eleven-hole, 1,727 metre diamond drill program that was successful in intersecting gold mineralization on the west boundary of the Augdome Gold Property which is situated adjacent to the Dome Mine operated by Goldcorp Inc. (“Goldcorp”)
On October 25, 2017, Goldcorp announced a base case pre-feasibility study with a contained resource which included approximately 4.5 million gold ounces having a diluted grade of 0.87 grams per tonne to be integrated into the proposed Dome Mine expansion plus an additional 0.9 million ounce inferred resource. The proposed Dome Century Project could significantly expand the footprint of the Dome Mine Open Pit.
The gold mineralization which was intersected in McLaren’s drill program crosses onto the Augdome Gold Property from the Dome Mine property. This gold mineralization is hosted within the gold-bearing Destor-Porcupine Fault structure in an area that has been disrupted and intruded by felsic intrusive porphyries. The Augdome Gold Property overlies approximately 2,300 metres of the Destor-Porcupine structure.
Drill results from the Augdome gold zone are presented in the table below.
Intervals reported here are core lengths. True widths are not known at this time.
All depths are reported as down hole.
All drilling was completed using NQ size core. Gold analysis of the samples collected by McLaren were undertaken by ALS Canada Ltd.. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 10.0 gpt Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance Program is in place, using control samples such as blanks, standards and duplicate checks.
The information presented in this news release has been reviewed and approved by Kenneth Guy, P.Geo, the Qualified Person for exploration on the Augdome Gold Property, as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
During 2018, McLaren intends to continue its exploration efforts on its attractive gold properties and will continue to review other properties and opportunities of merit.
In March 2018, McLaren plans to drill the TimGinn Gold Property located adjacent to the Hollinger Mine operated by Goldcorp. The gold zones of interest on the TimGinn Property are located in the area of the former Gilles Lake Mine which is situated adjacent to the Hollinger Mine Property.
McLaren is focused on exploration work on its three gold properties which are located in the Timmins Gold District of Northeastern Ontario. These properties include the Augdome Property, the TimGinn Property, and the Blue Quartz Property. The TimGinn Property, which hosts the former Gilles Lake Gold Mine, consists of 9 patented mining claims covering 238 hectares in Tisdale Township in Central Timmins and lies adjacent to the Hollinger Mine (19.3 million oz) and McIntyre Mine (10.7 million oz) both operated by Goldcorp. The Blue Quartz Property, which hosts the former Blue Quartz Mine, consists of 25 patented mining claims and 8 crown claims covering a total of 640 hectares in Beatty Township and is located 10 km north of McEwen Mining’s Black Fox Mine in East Timmins.
For more information, please contact:
Radovan Danilovsky, Interim President
McLAREN RESOURCES INC.
44 Victoria Street, Suite 1616
Toronto, Ontario M5C 1Y2
The Canadian Securities Exchange has neither approved nor disapproved the contents of the press release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute “forward looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward looking statements or information. These statements are based on current expectations of management; however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. McLaren Resources Inc. does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.