James Bay Lowlands & Bob Lake Saskatchewan
Yes, a BIG HIT and only more big hits are coming
MacDonald Mines Exploration Ltd. Toronto, Ontario, TSX.V : BMK, Is an exploration company with a deep established history in the exploration of gold and base metals, MacDonald has set upon a strategic direction of exploration in the Central Canada Northlands.
The four cornerstones of MacDonald's on-going operating strategy will be governed by,
The right people
The right properties
Financial strength and security
On-going science and operating enhancements to ensure the successful evolution of the company.
Given MacDonald's current size and state, the context of the cornerstones will change and evolve on an on-going basis.
MacDonald Mines’ management has created a business model in which the key focus is to create critical mass. For MacDonald Mines, this critical mass is provided by being part of a consortium of four separate operating public companies, as follows:
MacDonald Mines Exploration Ltd. (TSX-V: BMK)
Uranium Star Corp. (OTCBB: URST) (TSX-V listing expected soon)
Honey Badger Exploration Inc. (TSX-V: TUF)
This collaboration allows each Company to create synergies and employ/attract high-calibre geologists, geophysicists, and support staff, and build relationships with key suppliers as a much larger entity than each could possibly do on its own.
The Original McNugget Property (wholly owned) Ring of fire James Bay Lowlands.
The McNuggett Property consists of 74 claim blocks, covering an area of approximately 13,000 hectares. It is located in the Webequie Region, which is approximately 300 kilometers west of James Bay.
Joint Ventures – Ring of Fire
Escape Gold Inc./BMK , BMK has a 40% interest in Escape’s Sachigo Lake Property. Read More.
1289839 Alberta Ltd/BMK., a wholly-owned subsidiary of Coordinates Capital Corporation : owned and operated by Chris Verbiski, and VP Morton Verbiski, are pleased to announce that they have entered into a Letter of Agreement pursuant to which MacDonald has agreed to acquire a 60% undivided right, title and interest in a new land position in the James Bay Lowlands. “Wellington West” , Read More
Canadian Ore Bodies/TEMEX/BMK, 820 units in which Orebodies holds a 50% interest (Interest held through a joint venture with MacDonald Mines and Temex in which each has a 25% interest) The larger Adelaide joint venture Property (with Temex and Canadian Ore ) lies due south of the McNugget Property and contains a number of interesting anomalies that are currently being prioritized for ground follow-up work. 1. Read More., 2. Read More.
TEMEX/BMK, Hornby Property - MacDonald - Temex J.V. The Hornby Property is located 5 kilometres to the east of the Noront discovery. Read More.
Shoreham Resources Ltd/BMK, option 100% of Shoreham’s interest in the northwest region of Sachigo Greenstone Belt, Read More.
HAWK/BMK, The Hawk/MacDonald - McNugget JV Property (MacDonald (63.25%) and Hawk (36.75%)) Read More.
White Pine Resources/BMK, WPR has agreed to acquire a 75% interest in the Big Mac Property from MacDonald Mines Read More.
Melkior/BMK, Mc Faulds East Rim property owned 50-50 by Melkior and MacDonald Mines Exploration Ltd. Read More.
Next Phase – James Bay Lowlands
While we are disappointed with the lack of overall drilling success, the Company has a healthy level of working capital and is well-positioned to continue exploration activities in James Bay in 2009.
To date, exploration has been concentrated primarily in the area of the McNugget Property with operations being centred out of the Camp at Butler Lake.
MacDonald has many more compelling target anomalies that will be modeled for the next drilling phase in 2009.
The Company is currently conducting negotiations with the First Nation Communities in the selected exploration areas and needs to secure a memorandum of understanding, accommodation and agreement prior to beginning any exploration.
We would expect to be ready to begin exploration in the late winter.
Bob Lake, LaRonge District of Saskatchewan.
Nielsen-Chisholm Property - Nickel, PGM & Base Metal Property
The Nielsen-Chisholm Property is located in the Bob Lake area in the LaRonge District of Saskatchewan, and covers an area of 201km2. The Property is largely covered in outwash sand with somewhat limited outcrop exposure and this topography offered no previous prospecting opportunity. Apart from geological mapping carried out by the Saskatchewan Government there appears to be very little exploration work carried out in the past.
MacDonald Mines Exploration Ltd. has acquired a 75% interest in the Nielsen-Chisholm Property, a land package that bears strong similarity to the Company’s land holdings in the James Bay Lowlands area of Ontario. The Property comes with the compelling added features of geological knowledge, proximal mines, mineral showings and a new helicopter borne VTEM survey. The Canadian corporation “210829 Ontario Limited” is the “Optionor”.
The Bob Lake area is surrounded by a number of important Ni-Cu deposits within the southern portion of the LaRonge Belt. Dr. Larry Hulbert, D.Sc., P. Geo., a consulting geologist who has extensive knowledge of the LaRonge district stated, “Compelling geophysical and geological attributes along with anomalous nickel and chrome lake sediment geochemistry suggest that the Bob Lake area is a highly prospective area for nickel-copper sulphide mineralization.
This area is part of the much more extensive Proterozoic LaRonge - Lynn Lake Greenstone Belt. The Lynn Lake Greenstone Belt hosted the prolific Lynn Lake nickel-copper deposits which were mined continuously for 24 years by Sherritt Gordon Mines Ltd. The proximity of the Bob Lake area to the town of LaRonge, and the road and rail access to copper and nickel smelters at Flin Flon and Thompson make this a very attractive area to explore for nickel-copper sulphide deposits.”
Rob McEwen Acquires Ownership, Read more
Pinetree Capital Ltd. Acquires Securities, Read More