Vancouver, British Columbia--(Newsfile Corp. - October 15, 2019) - M3 Metals Corp. (TSXV: MT) (FSE: XOVN.F) ("M3 Metals" or the "Company") is pleased to announce that it has secured the extensive physical historic database on the Mohave Mine Gold Project. The database records cover everything from historic resource drilling to mine planning and engineering, construction reports, geology reports and targeting.
M3 Metals initial efforts to compile and digitize the historic data has resulted in identifying significant target areas. The most prominent area, newly termed the Dixie King (See Figure 1), shows potential for a large-scale gold system over a two-by-two-kilometre area which overlaps with a string of historic mines commonly referred to as the Dixie Mines. This area has not seen any modern exploration.
- two by two-kilometre target area never drill tested
- Individual soil samples up to 3.7 g/t gold
- Individual rock samples up to 125.6 g/t gold
- No drilling on southern part of Project
The historically reported high-grade underground mines on the property have not been exploited at a commercial scale and remain in place. These areas have the potential to be brought into a 43-101 compliant resource with an aggressive drilling program. Little effort from the previous operators focused on testing new targets or expanding on the historical resources, instead work focused on construction of the heap leach operation and infrastructure. Regional geological models indicate that there may be depth extensions or "feeder zones" beneath the well mineralized areas on the property in-line with similar systems in the region. Mineralization on the project area is shown to occur across multiple rock types attributing to the well-developed nature and the potential size of the gold system.
To view an enhanced version of Figure 1, please visit:
The Company is currently completing an inventory on all historic records while digitizing and reviewing the geological data including the historic soil, rock, and drillhole assays. Once complete the data will to be used in drill hole targeting.
Following the data compilation and targeting exercise currently underway, the Company plans to file an application for an aggressive drilling program aiming to bring the historic resources into compliance and identify new areas and extensions that may significantly increase their size. The Company will continue to update the market as appropriate.
Additional information is available on the Mohave Mine Gold Project page at www.m3metalscorp.com.
The Company discloses that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or mineral reserve. Furthermore, the Company has not independently verified the samples and grades presented in this release and considers them to be historic in nature, and not compliant with NI 43-101 standards. The Company also does not guarantee the completeness of the database as it has not independently confirmed and reviewed all of the historic records at this time.
Adrian Smith, P.Geo., is Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Professional Engineers & Geoscientists Newfoundland & Labrador (PEGNL) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
ABOUT M3 METALS CORP.
M3 METALS CORP.
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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