ML Gold Corp. [MLG-TSXV; MLGCF-OTC] continues to encounter massive copper sulphides at its recently acquired Stars property, which is located southwest of Houston, British Columbia.
The announcement comes almost two week after company said it had intersected 311 metres of veined and variably disseminated copper sulphide mineralization consisting predominantly of chalcopyrite in the first hole of 2,500-metre drill program.
The program is designed to test copper-gold-silver-molybdenum mineralization, identified at near surface to depth.
On Tuesday January 23, the company said it intersected three long intervals with visible copper sulphide in the second, third and fourth drill holes at its ongoing program. Significantly, drill hole No.4, collared 150 metres to the southeast from drill hole No.1, and drilling east, has intersected a 300-metre interval, from 25.2 to 325.2 metres depth, with visible chalcopyrite as veins and disseminations including massive chalcopyrite mineralization.
ML Gold is a diversified exploration company with several projects in North America, including the Palmetto gold property in Nevada, which remains its flagship asset. The junior recently signed two separate option agreements allowing it to acquire up to an 80% interest in a total of 2,136 hectares of prospective mining claims in the Omineca Mining Division in north-central B.C. They are collectively known as the Stars Property.
Prior to the current round of drilling, only 9 historic shallow holes had been drilled on the property. One of them ended in 0.56% copper at only 110 metres, and another, located over 1 km away, returned 142 metres, grading 0.25% copper. The latter hole was not assayed for gold.
Based on the shallow nature of the historic drilling, the company says there is a high probability that deeper drilling will identify a vertically extensive mineralizing system responsible for the high level style of mineralization, including chalcocite-bornite-chalcopyrite observed at and near surface.
On Tuesday, the company said all mineralization encountered to date begins at or close to surface and is hidden by a thin layer of glacial till (average 20-25 metres).
Other highlights from the current round of drilling include multiple events of copper mineralization, which the company said are evident from cross-cutting relationships of chalcopyrite rich veins.
Visually identified mineralization in the first four drill holes is comprised predominantly of chalcopyrite with little pyrite.
“We are extremely pleased with the first four holes of the program,” said ML Gold President Adam Smith. “Hole four is the most impressive hole to date and there is no indication we have drilled within the best zone of this porphyry system yet,” he said.
DD18SS004 entered bedrock at 23.3 metres within mineralized volcanics and transitions into mineralized monzodiorite to granodiorite intrusive rock of the Bulkley Intrusive Complex, similar to the host rock at the nearby Huckleberry Mine, the company said. Visible mineralization occurs throughout the interval to a depth of 254.8 metres.
The company said the property lies within a highly prosperous porphyry belt that passes through central B.C. Year-round road access and limited snow accumulations make all-season operations possible.
Smith has previously said he is excited by the quality and prospectively of the project, and believes that the Stars will play a key role in the resurgence of this prolific mining district in the highly resource friendly jurisdiction of central B.C.