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NexGen Mining announced acquisition of Mackinaw Mine property

Mining News - Published on Fri, 08 Jun 2018

Image Source: businesswire.com
NexGen Mining Incorporated announced it has acquired a 100% interest in the Mackinaw Mine Property with the signing of an Exploration and Mining Lease and Option to Purchase Agreement that encompasses 200 acres of Forest Service land, situated in the Cascade Mountains of Washington, from Vesper Resources, LLC.

The claims cover an outcropping of ultramafic rocks that host a mineralized zone containing ore grade concentrations of nickel, copper, cobalt and gold. Mineralized serpentine can be traced on the surface for over 2,600 feet. The Mackinaw mine ore has been described in detail by Milton and Milton in their article: Nickel-Gold Ore of the Mackinaw Mine, Snohomish County, Washington, Econ. Geol., Vol. 53, 1958, pp. 426-447. Their report emphasizes that the ore is a unique type consisting primarily of niccolite, maucherite, pentlandite, chalcopyrite, cubanite and magnetite. Vallerite, gold and sphalerite are also primary minerals, as well as mackinawite, named for this locality.

Mr Marc J Andrews, NexGen’s President and Chief Executive Officer said that “Considering our nation’s current initiative to identify and secure domestic sources of critical strategic metals, it is only natural for NexGen to capitalize on the current advantageous climate and focus our exploration on nickel, cobalt, copper and gold. The Company is poised to deliver on this directive and benefit from the bright growth outlook in the domestic market.”

Previous work on the Mackinaw Mine includes intermittent exploration and production since the early 1900s primarily for the gold and copper. Underground workings consist of over 2,000 feet of drifts, crosscuts and raises along five different adits. Renewed interest in the 1940s was sparked by an emphasis on strategic metals during WWII, and resulted in considerable research and exploration by USGS Strategic Minerals Investigators. Continued interest by the U.S. Bureau of Mines in the 1950s and 1980s of the nickel and cobalt content resulted in additional sampling and estimates of resources.

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Posted By : Rabi Wangkhem on Fri, 08 Jun 2018
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