Vancouver, British Columbia--(Newsfile Corp. - February 3, 2020) - M3 Metals Corp. (TSXV: MT) (FSE: X0VP) ("M3 Metals" or the "Company") is pleased to announce that it has reached a significant milestone on its Mohave Mine Gold Project (the "Project"). The Company has now submitted a Plan of Operation (the "Plan") to the Bureau of Land Management ("BLM") regarding proposed disturbance on a total area of 892 Acres contained within its Mohave Mine Gold project area. The Plan outlines 600 proposed drill holes across three broad areas; the northern Golden Door Area, the central Klondyke Area, and the southern Dixie Area. The Plan also outlines a proposed bulk sample of up to 1,000 tonnes. The Plan utilizes existing infrastructure on-site including the proposed use of existing road access and production water wells that were constructed in the 1990's along with a 350 tonne per hour crushing/material processing facility which remains on site and in good condition.
The Company is also pleased to announce that it has contracted the environmental engineering company McGinely & Associates to begin collecting environmental baseline data for an Environmental Assessment (the "EA"). The EA will focus on the three separate regions within the Project area and will form the basis for all future disturbance within these areas.
McGinley & Associates, Inc. is a Nevada-based and employee-owned environmental engineering and science consulting firm, with offices in Reno and Las Vegas. McGinley's team of professional engineers, professional geologists, geochemists, hydrogeologists, biologists, GIS analysts, and others have been providing technical and permitting services to the mining industry in the western United States since 2001.
Mohave Mine Gold Project
The Project area covers numerous historic past-producing gold mines in the Weaver mining district, Mohave County, Arizona, USA. Three main areas including the Dixie Area, Klondyke Area and Golden Door Area are outlined by highly anomalous gold geochemistry (including historic soil samples up to 3.7 grams per tonne gold; and historical rock grab samples up to 125 grams per tonne gold).
The Plan covers a total of 347 Acres in the Dixie Area targeting the widespread and highly anomalous gold in soil-and-rock anomalies surrounding multiple historic, past-producing, underground gold mines (the "Dixie Mines"). The Dixie Mines were thought to be discovered in 1894 and were active through the early 1900's as underground operations. Surface geochemistry surrounding the historic mines suggests that the gold mineralization occurs within a wide-spread near-surface gold system that may be amenable to heap-leach style operations. There is no known drilling within this area and no modern exploration other than the historic surface soil and rock grab and chip sampling.
The other two areas totalling 532 Acres that were submitted under the Plan include the Klondyke Area and the Golden Door Area. These areas include multiple historic past producing gold mines such as the past producing underground Klondyke Mine, Golden Door Mine and Jim & Jerry Mine.
The Company has secured an option to acquire the mineral rights to all the historic mines falling within the Project area and believes they may be related to a property wide gold system. M3 Metals has the right to acquire a 100 percent title and interest in the Mohave Mine Gold Project comprised of a total of 160 lode and mill-site claims.
Adrian Smith, President of M3 Metals Corp., comments, "While we continue to search for a partner on our iron ore project, we are extremely pleased with the progress at the Mohave Mine Gold Project. We see the potential for near-term gold production and are excited about beginning the baseline work, a major milestone towards this goal."
Additional information is available on the Mohave Project page at www.m3metalscorp.com.
The Qualified Person for the Company has not verified the historic soil and rock analytical data disclosed within this release. While the Company has obtained all historic records including analytical data from the previous owner of the Project, the Company has not independently verified the results of the historic sampling.
Adrian Smith, P.Geo., is Qualified Person as defined by National Instrument 43-101 for the above-mentioned project. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) as a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed above.
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M3 METALS CORP.
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of US$ for CDN$, changes in exploration costs and government royalties or taxes in Canada, the United States or other jurisdictions and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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