VANCOUVER, BC–(Marketwired – February 27, 2017) – Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) (“Broadway” or the “Company”) is pleased to announce the commencement of underground drilling at its 100%-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana, USA. This program, which is ongoing at the same time as the 3,657-metre (12,000-foot) surface drilling program, has two principal aims:
- testing the down dip continuation of the copper and gold mineralization on the 600 Level; and,
- exploring the newly discovered mineralization to the west of the decline.
The 600 Level drilling will probe the copper-gold zone to depth through a fan of holes. Historic sampling of the 600 Level drifts returned average gold grades of 0.429 ounces per ton (oz/t) with 155 truck grab samples and 13 chip or channel samples ranging from 0.010 to 2.728 oz/t gold. Historic sampling of the 600 Level stopes returned gold grades from 0.012 to 1.924 oz/t, averaging 0.468 oz/t. The samples were a combination of truck grab samples and chip or channel samples.
Underground exploration drilling will test the newly discovered mineralization to the west of the historic workings, where the Company just announced an increase in surface drilling footage from 1,371 metres (4,500 feet) to 3,657 metres (12,000 feet). The Company’s technical team recommended the increase because of alteration and mineralization observed in the first eight surface drill holes.
Broadway cautions investors the increase in surface drill footage is based solely on visual mineralization observations that have not yet been corroborated by assaying.
“We are excited to be moving forward with underground work at Madison. The project is situated in a prolific copper-gold mining region and we believe Madison has extensive exploration potential,” said Duane Parnham, Chairman of Broadway Gold Mining. “The Broadway team is being as aggressive as possible with our exploration program so that we can determine the potential of the initial targets we have identified.”
Groundhog Mining of Dillon, Montana is the contractor performing the underground drilling program. All samples from the underground drilling will be shipped to the ALS Minerals Laboratory in North Vancouver, British Columbia, an ISO/IEC 17025:2005 certified facility. Broadway will utilize a program of third-party standards and blanks inserted at regular intervals through the sample stream as its QA/QC program.
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 mineral exploration and development company that owns a 100% interest in the Madison copper-gold project located in the famous Butte-Anaconda mining region of Montana, USA. The Madison copper-gold project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished with potential to expand known copper and gold zones that remain open for development. Outside the mining parameter, Broadway has also identified exploration potential within its extensive land package.
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
info@broadwaymining.com
www.broadwaymining.com
Media:
Adam Bello
Primoris Group Inc.
+1 416.489.0092
media@primorisgroup.com