HIGH-GRADE GOLD IN BRITISH COLUMBIA

 

Fran Gold

Fran Gold is located in the Omineca mining division of central British Columbia just 30 kilometers southwest of the Mount Milligan mine and has been the subject of significant historic exploration. New deep drilling by MGX has uncovered a potentially new high-grade gold system at depth.

The Fran project encompasses 10,227 hectares and is located 30km southwest of the Mount Milligan Gold-Copper Mine and 19km by logging road from the Mount Milligan western access road. The Bullion Alley Zone has been the subject of extensive shallow exploration starting in the late 1990’s. Significant gold mineralization associated with shear zones has been intersected by historic diamond drilling. A total of 15,575 metres of diamond drilling was completed in 87 drill holes at the Bullion Alley Zone prior to 2018.

Previous drilling identified three areas along the northwest trending 1.5km strike with up to three lateral zones. This drilling encountered numerous gold intercepts with variable Ag, Cu, Pb, and Zn. Previous work presumed the auriferous veins pinched out at depth (MacIntyre 2013, MINFILE 093 108).

The recently discovered gold mineralization at depth suggests an alternative model must now be considered, and that gold mineralization extends and remains open (see press relese dated December 3, 2018). No significant drilling below 150m occurred prior to 2018.

MGX Minerals Fran Gold Project

The Fran property lies within the Quesnellia Terrane of the Canadian Cordillera and is underlain by the Takla Group of Late Triassic to Early Jurassic sedimentary and volcaniclastic rocks that are intruded by dykes and small stocks of monzonite, monzodiorite, diorite and more.

Drilling has encountered numerous multi-gram gold intercepts with variable silver, copper, lead and zinc values hosted in structurally controlled quartz-sulfide vein systems within shear zones.

Mineralization is generally classified as auriferous quartz-sulfide veins and wall rock replacements that appear to be intrusion-related. The Bullion Alley zone auriferous vein systems have several features in common with the gold deposits of the past producing Rossland gold camp in British Columbia, which historically produced more than 3.5 million ounces of gold.

Fran Gold 43-101 Technical Report
Effective Date: June 27, 2016
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