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MacDonald Mines Successfully Intersects High-Grade Mineralization on The EarthLabs's Alwyn Trend Target, SPJ Property

Toronto, Ontario--(Newsfile Corp. - September 1, 2022) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF(formerly GoldSpot Discoveries Corp.) ("EarthLabs" or the "Company"), is pleased to announce that MacDonald Mines Exploration Ltd. (TSXV: BMK) ("MacDonald Mines") successfully intercepted copper, gold and silver mineralization at EarthLabs's High-Priority "Alwyn Trend" Target. EarthLabs, a leading technology company leveraging artificial intelligence and data science to transform the mineral discovery process, generated targets for MacDonald Mines by combining machine learning and geoscience expertise.

Highlights of Phase 1 Alwyn Trend Drill Program:

  • Broad intervals of mineralization were intersected in all five drill holes in the Alwyn Trend, with up to 2% chalcopyrite, trace bornite and variable pyrite present.

  • 0.41% CuEq (0.17% Cu, 0.36 g/t Au and 0.28 g/t Ag) over 90.44 m in hole AW-22-102, a historically untested area of the Alwyn Trend, including two zones of stronger mineralization.

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  • Upper Zone: 41.53 m at 0.53% CuEq (0.24% Cu, 0.43 g/t Au and 0.41 g/t Ag).

  • Lower Zone: 13.00 m at 0.84% Cu Eq (0.29% Cu, 0.82 g/t Au and 0.33 g/t Ag).

  • Mineralized zones are characterized by multi-directional networks of 5-10% quartz-carbonate and carbonate veins and sulfide mineralization.

  • Copper-gold mineralization open in all directions and confirmed over a strike length of 115 m within the 2.5 km Alwyn Trend interpreted by EarthLabs.

Gregory Romain, President and Chief Executive Officer of MacDonald Mines, commented, "These promising drill results at Alwyn certainly supports the work undertaken by EarthLabs machine learning application along with their geoscience team and the MacDonald Mines technical team which identified a potential 2.5 km long trend favorable to host a large polymetallic system. We look forward in continuing to explore Alwyn and the other 4 high priority targets identified by EarthLabs."

Vincent Dubé-Bourgeois, Chief Executive Officer and Director for EarthLabs, commented, "The work from EarthLabs and MacDonald Mines experts, helped highlight these new promising targets, we now have confirmation of mineralization from this first drilling program at Alwyn Trend. We are looking forward to the results of the other priority targets."

Targeting at the SPJ Property

EarthLabs generated gold-focused targets, using our "Smart Targeting" method which combines knowledge-and AI data-driven approaches. Geoscientific interpretations included a new structural map and stress model and new insights on the property's geochemical make-up. EarthLabs generated 53 targets including five high priority Exploration Areas: Alwyn, Glade, McLeod, Scadding Extension and Pine trends (Figure 1).



Figure 1: EarthLabs targets at the SPJ Property. High priority exploration areas highlighted in yellow. Individual targets include high priority in red, medium priority in orange and lowest priority in green. The SPJ Property is shaded in pale blue, interpreted structures in dark blue lines.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5844/135654_9267421594957bc3_002full.jpg.

Alwyn Trend - Drill Results

MacDonald Mine's Phase 1 drilling in the Alwyn Trend included five oriented diamond drill holes, totalling 693m at the northern end of the 1.0 km-long high-priority Alwyn Trend target identified by EarthLabs (Figures 1 & 2). Assay results from the Phase 1 Alwyn Trend drilling program are summarized in Table 1 below.

Table 1: Alwyn Trend drilling results

Hole ID

From
(m)


To (m)

L (m)*

Au
(g/t)

Ag
(g/t)

Co
(ppm)

Cu

(wt. %)

Cu
Eq.
(%)**

Au
Eq.
 (g/t)**

Co Eq. (ppm)**

AW-22-098

13.0

108.1

95.10

0.16

0.18

66

0.11

0.22

Including

13.0

50.5

37.50

0.32

0.23

78.6

0.172

0.39

Including

13.0

22.2

9.20

0.48

0.18

150

0.06

92.0

108.1

16.10

0.05

0.07

0.11

0.14

AW-22-099

13.0

50.5

15.00

0.24

0.15

0.08

0.24

AW-22-100

38.7

41

2.30

0.11

0.21

0.18

0.26

AW-22-101

49

59.65

10.65

0.35

0.24

0.13

0.37

Including

49.0

50.0

1.00

3.32

0.55

0.40

3.92

76.5

103

26.50

0.04

0.17

153

0.02

229

AW-22-102

41.34

131.78

90.44

0.36

0.28

60

0.17

0.41

Including

41.34

82.87

41.53

0.43

0.41

62

0.24

0.53

47.0

50.2

3.20

3.87

3.05

1.36

3.99

118.8

131.7

13.00

0.82

0.33

0.29

0.84

 


*Assay results are presented over core length. As they represent discoveries, additional drilling is necessary to estimate the true width of the discovered zones of mineralization.

**Metal equivalency calculations contain only the values presented in this table. All other metal values were deemed below significant values. Metal equivalents are calculated based on metal prices in US dollars of $8,313/T Cu, $51,020/T Co, $18.84/oz Ag and $1,740/oz Au as reported on August 29th, 2022 by London Metals Exchange (copper and cobalt cash prices) and Kitco Metals (gold and silver).



Figure 2: Phase 1 drilling by MacDonald Mines along the Alwyn Mine Copper-Gold trend.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5844/135654_9267421594957bc3_003full.jpg.

Variably dense and multi-directional quartz-carbonate and carbonate veins, like the networks of veins associated with copper-gold mineralization at surface, were intersected in four out of the five drill holes. Iron oxide alteration, occurring as sporadic specular to earthy hematite veinlets, was also observed with zones of chalcopyrite mineralization.

The strongest zone of quartz-carbonate veining associated with copper and gold mineralization was intersected in hole AW-22-102 in a previously untested area east of the historical Alwyn Mine. The broad interval of mineralization and alteration consists of two zones of intense mineralization (referred to as the Upper and Lower zones) separated by a zone of pervasive but weaker mineralization. Composite assays results combining Upper, Lower and the intervening zone are 0.41% CuEq (0.17% Cu, 0.36 g/t Au and 0.28 g/t Ag) over 90.44 m. Assays from the Upper Zone returned 0.53% CuEq (0.24% Cu, 0.43 g/t Au and 0.41 g/t Ag) over 41.53 m, and from the Lower Zone returned 0.84% CuEq (0.29% Cu, 0.82 g/t Au and 0.33 g/t Ag) over 13.0 m.

Quartz-carbonate, carbonate and hematite-carbonate veining variably mineralized with chalcopyrite and pyrite persisted over 100 m in the drill core; this includes a 3 m quartz-carbonate vein (true width currently unknown). The 3 m vein returned 3.99% CuEq (1.36% Cu, 3.87 g/t Au and 3.05 g/t Ag) over 3.2 m. The location of AW-22-102 suggests that the copper-gold vein system remains prospective to the south, as predicted by EarthLabs (see EarthLabs's news release from May 3rd, 2022), where the high priority Alwyn target extends for 1.0 km (Figure 2). Phase 1 drilling confirmed veining and mineralization over a 115 m strike length and demonstrated that mineralization remains open in all directions.

In the other drill holes, mineralized zones are characterized by 5-10% veins over broad intervals up to 116 m, with some limited dilution by narrow (<10m) Nipissing diabase dykes. Approximately 30% of veins carry sulphides, consisting of up to 5% chalcopyrite + pyrite, but typically containing 0.5-2% total sulphides.

About EarthLabs Inc.

EarthLabs Inc. (formerly GoldSpot Discoveries Corp.) (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. EarthLabs works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies, and strategically invest in mineral exploration companies. Our team of experts merge geoscience and data science to deliver bespoke solutions that save time, reduce costs, and produce far more accurate results than ever possible before.

About MacDonald Mines Exploration Ltd.

MacDonald Mines is a Canadian gold and base metal exploration company focused on exploring its 100%-owned, 19,720ha (197km2) SPJ Project, 20km southeast of the prolific Sudbury Mining Camp in Northern Ontario. The Company's focus is to locate what it theorizes to be large gold systems with high-grade gold surrounding the past producing Scadding Gold Mine and potential large gold and polymetallic structures surrounding Alwyn, Glade, MacLeod and Norstar. The Company is also focusing on key critical metal systems surrounding Candore and Jerome within the SPJ Project to supply the renewable energy transition, particularly nickel, copper, and PGE's. The demand and need for critical metals is at an all-time high, and Macdonald Mines' believes the SPJ Property Area has the potential to be part of the solution.

Qualified Person

Lindsay Hall, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

For further information please contact:
Vincent Dubé-Bourgeois
CEO and Director
EarthLabs Inc.
Tel: 819-592-1195
Email: investors@goldspot.ca

Cautionary Statement on Forward-Looking Information

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135654