VANCOUVER, BC–(Marketwired – March 29, 2017) – Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH) (“Broadway” or the “Company”) is pleased to announce that it has increased the size of its 100%-owned Madison copper-gold project by staking an additional 61 unpatented federal mineral claims covering 1,421 acres. These new claims quadruple the current footprint to a total of 1,871 acres and are contiguous to the west and to the south of the active exploration area (see claim map on current exploration page of the Company’s website). The new claims protect the potential western and southern extensions to geophysical targets announced on March 8, 2017.
“This staking significantly increases the project’s exploration potential for discovery of additional near-surface copper-gold zones in areas of known mineralization,” said Duane Parnham, Chairman of Broadway Gold Mining Ltd. “Broadway’s technical team will immediately begin the initial evaluation of our newly acquired claims through surface sampling, mapping and geophysics with the objective of locating and prioritizing targets for follow-up drilling.”
The northern section of the newly added western claims is underlain by the Radar Creek pluton in contact with the favorable Madison Limestone, the same rock units that host the Madison and Broadway mines. Key chargeability anomalies from the geophysical survey appear to trend onto this newly acquired ground in the limestone intrusive contact area. The remainder of the western claims are largely underlain by Archean metasediments. Smaller plugs of Radar Creek plutonic rocks have been mapped further to the west suggesting the Radar Creek intrusive may lie at depth.
Exploration potential is further supported by the location of the Green Campbell Mine within the third-party patented claims in the center of this block. Green Campbell is estimated to have produced 20,000 ounces of gold from quartz veins between the 1870s and 1940s. Broadway has not verified the Green Campbell data and mineralization on the Green Campbell patents is not necessarily indicative of mineralization on the Broadway claims.
The southern claims are underlain by the Archean metasediments, along with the Madison and Mission Canyon limestones and the Jefferson Formation clastic sediments. Outcropping of Radar Creek age intrusions further to the south again suggest the intrusive rocks may lie at depth beneath the sediments. Deeper geophysical targets from the 2017 survey appear to trend through the original property boundary onto the newly acquired claims.
Qualified Person
R. Tim Henneberry, P.Geo., a Director of Broadway and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with unexploited exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine’s perimeter, the company’s exploration program has identified new anomalies across its extensive land package that provides compelling drill targets that are believed to be associated with large-scale porphyry mineralization.
Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information:
Duane Parnham
Chairman
Broadway Gold Mining
1-800-680-0661
[email protected]
www.broadwaymining.com
Media:
Adam Bello
Primoris Group Inc.
+1 416.489.0092
[email protected]
