McLaren Resources Provides Exploration Update
TORONTO, ONTARIO -- (Marketwire) -- 02/28/13 -- McLaren Resources Inc. ("McLaren") (CNSX: MCL)(FRANKFURT: 3ML) is pleased to provide an update on the recently completed diamond drill program at the Blue Quartz Property located east of Timmins approximately 8km north of the Black Fox Mine. The Blue Quartz property is owned 50% by the Company and 50% by Red Mile Minerals.
Exploration drilling is focused on expanding the known gold mineralization to depth in the area of the Blue Quartz Mine Shaft where underground high grade gold production was reported during 1920's and 30's. The three holes being reported targeted gold mineralization to the west of and below the level of the historic mine workings and successfully expanded the area of gold mineralization. The next program is planned to target the extension of high grade gold mineralization directly below the area of the Blue Quartz Mine shaft.
The drilling program targeted 50 to 100 metre step-outs on the Main Zone mineralization to the west at depth with three drill intercepts from two new drill holes plus the extension of a previous hole, for a total of 941.3 meters. The exploration was following up on the positive results from previous drill programs, which included 12.28 grams per tonne gold (gpt Au) over 2.7 meters (m) and 1.3 gpt Au over 63 m.
Hole RBQ-12-09 ext was testing for an extension of the mineralization in the bottom of the hole which assayed 12.28 gpt Au over 2.7 m. The hole was deepened and intersected 2.95 gpt Au over 3.7 m further down the hole.
RBQ-12-11 was targeted between hole 11-09 12.28 gpt Au over 2.7 m and hole 10-02, 11.89 gpt Au over 2.2 m, and intersected 0.53 gpt Au over 29.7 m. The hole intersected the zone 90 m below 10-02. Although the grade of the intersection was low the almost 30m width of alteration and mineralization was encouraging.
RBQ-12-12 targeted the mineralization below and to the west of previous drilling and intersected 3.30 gpt Au over 1.1 m 40 metres to the west and 50 metres below MBQ-11-09 (12.28 gpt Au over 2.7 m - see attached longitudinal section)
Diamond Drill Highlights (See Table 1 for complete results)
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DDH From (m) To (m) Length (m) Gold (gpt)
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RBQ-12-09ext 437.6 440.4 3.7 2.95
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Incl 1.2 7.26
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RBQ-12-11 381.1 410.8 29.7 0.55
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Intervals reported here are core lengths. True widths are not known at this
time. All depths are reported as down hole.
The next planned drill program will target an extension of the known high grade mineralization to depth directly below the Blue Quartz Mine Shaft. The focus of the ongoing exploration program is to expand the existing gold mineralization both to depth and along strike from the area of the underground workings of the former producing Blue Quartz Mine. The thickness of the gold mineralization encountered in the recent drill programs is encouraging and indicates good potential at depth.
The Blue Quartz property is reported to have produced gold from high grade veins during the 1920s and 30s. Production on the property took place with underground mining operations which extended to a depth at the 740 foot level including 6000 ft of crosscutting later workings and drifting, over half of which was on the 500 foot level.
QUALIFIED PERSON
Kenneth Guy, P. Geo., is the Qualified Person (as such term is defined in National Instrument 43- 101- Standards of Disclosure for Mineral Projects) for Red Mile Minerals, and is responsible for the geological information presented herein.
All exploration work was conducted under Mr. Guy, who has reviewed this news release.
All drilling was completed by Norex Drilling, a local drill contractor using NQ size core. Gold analysis of the samples collected by Red Mile were assayed by ALS Chemex. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 10.0 grams gold per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance Program (QA/QC) is in place, using control samples such as blanks and duplicate checks. In addition, duplicate analyses of 10% of the samples are corroborated by check assays performed at a Third Party Laboratory.
McLaren Resources Inc. is a Canadian based junior exploration company engaged in acquiring, exploring and developing resource properties in Canada.
For more information visit our web site at www.mclarenresources.com.
Certain statements contained in this press release constitute "forward looking statements". These statements are based on current expectations of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. The Company does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/MCFigure1.pdf.
Table 1
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Hole # East North Elev Length Dip
(m)
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RBQ-12-09ext 547308.8 5384116.8 2991.4 48.5 -70
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470.5
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RBQ-12-11 547309.65 5384116.11 2890.5 439 -67
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RBQ-12-12 547308.76 5384117.2 2889.7 453.8 -63
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3 holes 941.3
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Hole # Az From To (m) Width Au- GxW
(m) (m) gpt
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RBQ-12-09ext 341 436.7 440.4 3.7 2.95 10.9
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incl 439.2 440.4 1.2 7.62 9.1
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RBQ-12-11 4.9 355.3 356.8 1.5 0.81 1.2
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381.1 410.8 29.7 0.53 15.7
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incl 381.1 383.6 2.5 1.89 4.7
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and 407.1 408.3 1.2 2.70 3.2
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413.8 414.8 1.0 0.71 0.7
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423.1 425.1 2.0 1.74 3.5
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RBQ-12-12 330 280.9 282.6 1.7 1.23 2.1
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313.1 314.6 1.5 0.86 1.3
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321.3 322.3 1.0 1.86 1.9
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335.5 337.0 1.5 0.93 1.4
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346.0 347.6 1.6 1.85 3.0
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362.9 364.4 1.5 0.79 1.2
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367.4 370.7 3.3 0.67 2.2
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378.4 379.9 1.5 0.99 1.5
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401.7 406.3 4.6 1.07 4.9
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incl 401.7 402.8 1.1 3.30 3.6
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410.5 412.0 1.5 0.55 0.8
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414.5 415.2 0.7 0.83 0.6
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421.9 423.9 2.0 0.56 1.1
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3 holes
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Intervals reported here are core lengths. True widths are not known at this
time. All depths are reported as down hole.
The Canadian National Stock Exchange has neither approved, nor disapproved on the contents of this press release.
Contacts:
McLaren Resources Inc.
Ivan Buzbuzian
President and CEO
416-203-6784 x 4850
416-368-1539 (FAX)
ibuzbuzian@mclarenresources.com
www.mclarenresources.com
