Last updated: July 05, 2018

Holdsworth Property

PROPERTY LOCATION AND OWNERSHIP:


The Holdsworth Property consists of 19 contiguous patented mining claims (the "Holdsworth Claims") covering some 304 hectares. Sixteen of these are located in the extreme southern part of Corbiere Township and the remaining three extend into the northern part of Esquega Township, Hawk Junction, District of Algoma, Wawa Area, Sault Ste. Marie Mining Division, Ontario.

The Holdsworth Property is the potential to host Gold and Silver mineralization within three (3) distinct geological environments namely:
  1. Lode Gold in traditional quartz veins -- "The Soocana Vein",
  2. An oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) -- "The Oxide Sands", and
  3. The precursor to the Oxide Sands - a massive pyrite zone (Algoma Iron Formation) at depths -- "The Massive Sulphide".


Ownership
Noble has recently disposed of its interest in the Wawa Holdsworth project for consideration totaling:
• 8,000,000 treasury shares of MacDonald Mines Exploration Ltd;
• 8,000,000 3 yr warrants of MacDonald (2.5mm exercisable at $0.15 per wt plus 5.5mm exercisable at $0.30 per wt);
• 10% gold streaming from production of the Holdsworth Oxide Sands up to 5,000 ozs. of gold;
• 1.5% NSR on the property (subject to a 50% buyback for $500,000)

The property has the potential to host Gold and Silver mineralization within three (3) distinct geological environments namely:
• Lode Gold in traditional quartz veins, known as the "The Soocana Vein",
• An oxidized cap at surface developed over a massive pyrite zone (Algoma Iron Formation) known as the "The Oxide Sands", and
• The precursor to the Oxide Sands - a massive pyrite zone (Algoma Iron Formation) at depths, known as "The Massive Sulphide".

For more current information, go to the MacDonald website at: http://www.macdonaldmines.com/news/2017/