Cranbrook, British Columbia, November 26, 2019 – MG Capital Corporation (TSXV: DLP) (“MG” or the “Corporation”) is pleased to announce that a ground geophysical survey has commenced on its Aldridge 1 and Aldridge 2 projects, which are located approximately 50 air miles southwest of Cranbrook, BC. The Aldridge projects, held by MG’s wholly-owned subsidiary, DLP Resources Inc. (“DLP”), consist of 13 claims, totalling 4,664 hectares that cover approximately 75% of the Leadville Corridor. The Leadville Corridor is a North trending structural belt that is geologically similar to the North Star-Sullivan Corridor, which is the feeder system to the world class high grade polymetallic Sullivan orebody. The Sullivan mine produced over 285 million troy ounces of Silver, 17.6 billion lbs. of Lead, and 15.4 billion lbs. of Zinc*.
Mapping and study of the geology contained within the Leadville Corridor suggests that the structure has the potential to host a Sullivan type massive sulphide ore body. DLP’s objective is to explore the subsurface Leadville Creek Corridor for Sullivan type massive sulphide deposits. To accomplish this objective, DLP has commenced a large magnetotellurics (“M.T.”) geophysical survey over the Aldridge 1 and 2 projects. M.T. geophysics has the ability to detect conductive massive sulphide bodies from near surface to depths of greater than 2,000 meters.
The Titan M.T. geophysical survey is currently conducted by Quantec Geosciences Ltd. of Toronto, Ontario. This survey will consist of 20 East-West lines totalling 32.8 km’s. The total cost of the survey is estimated to be $203,000. It is anticipated the survey should be completed by the first part of February 2020.
David L. Pighin, consulting geologist and co-founder of DLP, has significant exploration experience in Sullivan style deposits in the area and is the qualified person (QP) of the Corporation as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical contents of this news release.
For further information, please contact:
MG Capital Corporation
Jim Stypula, Chief Executive Officer
Robin Sudo, Chief Financial Officer and Corporate Secretary
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