Located 40km east of Sudbury, Ontario, the Scadding Mine is 100% owned by the company and is part of its SPJ Iron-Oxide-Copper-Gold project (IOCG)
Canada-based exploration company MacDonald Mines has received a three-year exploration permit for Scadding Mine in Ontario, Canada.
Located 40km east of Sudbury, Ontario, the Scadding Mine is 100% owned by the company and is part of its SPJ Iron-Oxide-Copper-Gold project (IOCG).
Permit to allow MacDonald Mines to increase exploration programme at SPJ Project
The three-year exploration permit will allow MacDonald Mines to increase its exploration programme at the SPJ Project beyond the Scadding Mine.
MacDonald president and CEO Quentin Yarie said: “We are pleased to have completed all formal requirements with respect to the purchase of the Scadding Mine from Currie Rose and Northern Sphere.
“This area has been identified as an emerging iron-oxide-copper-gold district and our strategy over the last few months has been to expand our land package and, by so doing, increase the number of prospective targets on our property.
“Having 100% ownership of the Scadding Mine and our exploration permit in hand, we can now start a comprehensive exploration programme at, and beyond, the Scadding Mine and evaluate the full potential of our large SPJ Iron-Oxide-Copper-Gold Project.”
The SPJ property consists of over 10,000ha in mining jurisdiction with potential to Iron oxide copper gold (IOCG) potential.
The property also hosts significant reserves of cobalt-copper, silver, nickel and rare earth showings outside of the Scadding deposit footprint.
In the past, the Scadding Mine produced 914kg of gold from 127,000 tonnes of mineralised material graded at 7.2g/t.
The aim of the current drilling programme is to confirm high-grade gold zones of the Scadding Deposit.
In July 2018, MacDonald Mines had signed an agreement to acquire a 100% interest in the Jovan and Powerline properties located within 40km of Sudbury, in Northern Ontario, Canada. The properties are a diversified exploration mineral target (gold, cobalt, copper, nickel, silver) spread over 1,400 hectares.