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Broadway Gold Mining Ltd
Symbol BRD
Shares Issued 36,959,204
Close 2017-05-17 C$ 0.78
Market Cap C$ 28,828,179
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Broadway drills 20.1 m of 1.46% Cu at Madison

2017-05-18 07:11 ET - News Release

Mr. Duane Parnham reports

BROADWAY DISCOVERS NEW GOLD ZONE AT MADISON AND EXPANDS NATIVE COPPER ZONE

Broadway Gold Mining Ltd. has released additional assay results from the C17-08, C17-09 and C17-13 2017 from the phase 2 surface drilling campaign at its 100-per-cent-owned Madison copper-gold project in the historic Butte-Anaconda mining region of Montana.

Highlights of the results include:

  • 1.466 per cent copper and 0.253 gram per tonne (g/t) gold over 20.1 metres in hole C17-13, including 6.048 per cent Cu and 0.357 g/t Au over 4.6 metres, including 11.45 per cent Cu and 0.020 g/t Au over 1.8 metres;
  • 1.882 per cent Cu and 4.249 grams per tonne (g/t) Au over 3.7 metres in hole C17-09;
  • 0.760 g/t Au over 33.8 metres in hole C17-09;
  • 1.152 g/t Au over 2.7 metres in hole C17-08.

"A new third deposit type, lower-grade gold over longer widths within the skarn zone, has now been discovered in C17-09 west of the high-grade gold massive sulphides drilled underground," said Duane Parnham, president and chief executive officer of Broadway Gold Mining. "We continue to confidently increase the strike length of the copper zone delivering more high-grade hits. After a brief pause to analyze the drilling data, geophysical results and surface sampling, Broadway will continue with an extensive phase 3 drilling program," added Mr. Parnham.

                               ASSAY RESULTS SUMMARY
  
Hole                From           To       Interval  Copper         Gold     
ID              (ft)    (m)   (ft)    (m)  (ft)   (m)    (%)   (g/t)      (oz/t)

C17-13           387  118.0    453  138.1    66  20.1  1.466   0.253       0.007
including        405  123.4    420  128.0    15   4.6  6.048   0.357       0.010
including        408  124.4    414  126.2     6   1.8 11.450   0.020       0.001
C17-09         246.5   75.1  357.5  109.0   111  33.8  0.001   0.760       0.022
               480.5  146.5  492.5  150.1    12   3.7  1.882   4.249       0.124
               492.5  150.1  528.5  161.1    36  11.0  0.124   0.375       0.011
including      516.5  157.4  528.5  161.1    12   3.7  0.331   0.389       0.011
C17-08           810  246.9    819  249.6     9   2.7    101   1.152       0.034

The true thickness of the copper and gold zones has not yet been established. 
  

The complete assay results for the intervals and a drilling plan can be found on the current exploration page of the company's website.

The surface drilling continues to expand the copper-bearing jasperoid zone to the northwest, with the zone now traced 75 metres and open at both ends. The historic drilling completed through this area and along strike in both directions provided only rudimentary geological information with long intervals not previously assayed for copper. Broadway has already found significant new copper mineralization, increasing the possibility of further mineralization and open at depth.

The assaying has also identified a new type of mineralization at Madison, lower-grade gold, within an epidote-diopside-garnet skarn zone, clearly evidenced in C17-09. The only noted mineralization within the auriferous horizon is pyrite, ranging from trace to locally 20 per cent. Based on this new mineralization, the company will review the historic database looking for similar mineralized zones.

The copper interval in C17-13 was contained within two jasperoid zones, 2.9 metres and three metres separated by a 7.2-metre marble interval. This interval also includes seven metres of overlying polylithic breccia containing significant copper. The strongest copper mineralization was found in the upper jasperoid zone and consisted on abundant copper oxides.

The copper interval in C17-09 was centred on a 1.9-metre jasperoid containing 1 per cent to 2 per cent native copper. Native copper was also logged in the top 1.6 metres of the underlying hedenbergite-jasper skarn. The top 0.15 metre of the interval included epidote skarn.

A longer 33.8-metre and a shorter 11.0-metre interval of epidote-diopside-garnet skarn carrying interesting gold values was also intersected in C17-09. The two zones appear to carry pyrite in concentration ranging from trace to 20 per cent, largely as clots and blebs. Interestingly, there does not appear to be a relationship between the more auriferous sections and the percentage of sulphides. This is a style of mineralization previously unknown at Madison.

The gold interval in C17-08 was contained largely within an epidote breccia containing 1 per cent to 7 per cent pyrite.

All analyses were completed at the ALS Minerals Laboratory in North Vancouver, B.C., an ISO/IEC 17025:2005-certified facility. Broadway is utilizing a program of third party standards and blanks inserted at regular intervals through the sample stream as its quality assurance/quality control program. AK Drilling Inc. of Butte, Mont., is the contractor performing the surface drilling programs.

Sample preparation and quality control

Supervision, organization and splitting of drilling core samples were undertaken by company personnel. Samples were collected at three-foot intervals from half-core samples. Samples were catalogued by Broadway geologists and stored in a secure location. Certified reference standards were placed in the sample stream of each drill hole at random intervals. Blank material was also inserted at random intervals. Samples were packed into rice bags, zap strapped and securely stored until they were turned over to the local trucking company for transport to the ALS Minerals Laboratory in North Vancouver, B.C.

Laboratory quality assurance/quality control

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-904, OREAS-45b, OGGeo08 and PGMS25. No issues were noted with analytical accuracy or precision.

Assay techniques

Three different assay procedures were designed by ALS Minerals for the samples, based on the presence of copper sulphides or oxides, and native copper. The standard assay procedure of Au-ICP21 and Cu-ICP61 was applied to most of the samples. Au-ICP21 is a 30-gram fire assay with an ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish. ICP61 is a four-acid digestion of a one-gram sample with an ICP finish. Samples with visible copper mineralization received a Cu-OG62 copper analysis, a four-acid digestion of a 0.5-gram sample with ICP-AES finish. OG62 has a copper range from 0.001 to 40 per cent, while the ICP61 analysis has a copper maximum range of 10,000 parts per million. Samples with visible native copper received a duplicate Cu-ICP61 analysis followed by a duplicate Cu-OG62 analysis that included a WSH-22 procedure where the pulverizers are cleaned with barren material after every sample. Overlimit copper values from the ICP61 analyses received an OG62 procedure to determine the final Cu grade.

Qualified person

R. Tim Henneberry, PGeo, 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 is a resource company focused on development-stage projects with advanced exploration potential. The company owns a 100-per-cent interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, United States. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished.

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