Press Release – November 18th, 2014
GOOD Mining Exploration Inc. concludes the 2014 Season Exploration Fieldwork
and Drill Programs on its CanRee and Golden Target Projects in Matheson,
Ontario, Canada.
Newmarket, Ontario, November 18th, 2014 – GOOD Mining Exploration Inc. has completed
all 2014 field activities and drilling programs on its 100% wholly owned mining rights, in
Bowman and McCann townships, Black River Matheson, Ontario, Canada.
Work undertaken during the 2014 field season included exploratory diamond drilling, geological
mapping, stripping and channelling. Drilling activities are now completed and the equipment has
been demobilized from both sites. Core cutting on the final drill hole has concluded this week
and the remainder of the samples are being shipped to the labs for processing. Complete assay
analysis results on 7 of 28 drill holes from the CanRee project have now been received. Initial
assay analysis reports for the first three drill holes on the CanRee were presented on the
previous press release of October 31st, 2014.
*See the company website at: http://goodmining.com/wp/?page_id=801
Results of the further four drill holes are being presented in this press release. Assay results
and additional resource estimates from of the 2014 Drill Programs will be reported in future
releases going forward as they continue to arrive from the lab, with a conservative expected
completion date for assay analysis of approximately January 31st, 2015.
As the assay analysis of the drill cores are proving on an ongoing basis, the CanRee Project
hosts a modest ‘Indicated’ and ‘Inferred’ resource of Platinum Group Elements (PGE),
particularly high in Palladium, and Rare Earth Elements (REE). There is also a range of highly
prospective, mineralized structures within the Golden Target Project, which to date are highly
indicative of Gold Mineralization (*Assay analysis pending for Golden Target drill cores).
1
Drilling
The 2014 season saw a total of 10,124 feet of drilling, equivalent to 3,086.71 meters completed
in a total of 28 NQ diameter drill holes, in an aggressive exploration campaign targeting
prospective areas across the properties. The program was divided into two phases. Firstly, 25
drill holes targeted the PGE/REE prospect within the CanRee project, and secondly, 3 initial
exploratory drill holes targeted the Gold potential within the Golden Target project. Drill hole
targets were spotted and designed based on geological mapping, rock outcrop chip sampling,
assay analysis results of same, as well as geophysics using detailed ‘VLF Surveys’ overlapped
onto an existing geophysical ‘IP Survey’ of the property.
HIGHLIGHTS:
As shown below, the exciting results of the assay analysis are proving to show that the primary
resource for the CanRee project is now becoming the Palladium (Pd). Results going forward are
proving to quantify this further. However, all of the analysis results must first be received by the
company from the labs to properly ascertain the primary resource as being Palladium.
*Note that the following results are based on only 7 of 25 drill holes within the CanRee Project.
Indicated and Inferred Resources:

Total ‘Indicated Resources’ for Precious Metals present, based on the data for the
seven drill holes received to date are as follows: (See table 1 for details)





Total ‘Inferred Resources’ for Precious Metals present, based on the data for the
seven drill holes received to date are as follows: (See table 1 for details)






312,636 ounces Palladium (Pd)
9,899 ounces Gold (Au)
5,890 ounces Platinum (Pt)
4,451 ounces Rhodium (Rh)
3,161,101 ounces Palladium (Pd)
100,088 ounces Gold (Au)
59,558 ounces Platinum (Pt)
45,001 ounces Rhodium (Rh)
The Palladium occurs consistently within the gabbro, altered mafic volcanics, breccia
zones as well as in the mafic intrusive host rocks. It occurs in every sample taken from
top to bottom of each and every drill core, at a consistent grade that is in most cases
above other global Palladium producers.
As expected, the Gold occurs in fracture fillings and stockworks hosted also in all the
other lithological units mentioned above, but not as consistent as the Palladium.
2


Scandium, Yttrium and Cerium which are members of the Rare Earth Elements (REE)
that the company drill program was chasing, were also present. Higher grades of these
elements occur within the Gabbro host rock. *See table 1 for the average grades and
tonnage.
A summary of the core logs including the core intercepts and assay results are shown in
Tables 1 to 8.
Details of the Highlights:










Indicated and Inferred Resources are reported in this press release based on the assay
results that have been presented from the labs to the company to date.
The definition of an Inferred Resource is one that demonstrates geological continuity. It
is the least precise of the resource categories. The undersigned uses this category since
the intercepts agree to each other geologically. We only extended inferred resources to
a maximum of 100 meters out from the edges of the resource envelope and
approximately 50 meters inside.
The Indicated Resource was calculated in order to determine further drill holes needed
to upgrade the Inferred Resource going forward on an in-fill drill program. A radius was
used for calculating the area of influence covered by the Indicated Resource and was
set at 30% of the radius used in calculating the area of influence of the Inferred
Resource for each drill hole.
The Indicated Resource calculated is subtracted from the Inferred Resource calculation.
Two surface rock chip samples and one drill core sample were delivered to the SGS
laboratory in Lakefield, Ontario, for thin section analysis in order to identify the main
lithological units being logged.
An in-house Core Logging and Sampling Protocol was created by the company Senior
Geologist, Mr. Dennis Patron; P.geo, in order to have a standard procedure to be
followed in core logging procedures by all of the Geologist staff.
Blanks and Standards for Gold and REE were inserted every 25 samples for QA/QC
compliance. The sample interval was set at 1.2 meters except on strongly mineralized
areas where sampling intervals were reduced to 1 meter.
The NQ drill cores were cut in half in an on-site mobile unit provided by Larsen
Exploration Services of South Porcupine, Ontario. One half was delivered to the
laboratory for analysis while the other half stored in core boxes, stacked and piled in a
fenced in, on-site secure storage area for future reference.
GOOD Mining Exploration Inc. has implemented a ‘Quality Control Program’ to comply
with best practices in the sampling and analysis of drill cores. Drill core samples were
transported in security sealed bags for sample preparation at Swastika Laboratory in
Swastika, Ontario.
Swastika Laboratory then securely delivered all of the prepared pulp packets to the
Department of Chemistry, Earth Sciences and Biology, accepted by the Director of the
Elliot Lake Research Field Station (ELRFS), at Laurentian University in Sudbury Ontario
for multi-element analysis, using their ISO: 17025 certified and accredited laboratory
acid digest method. Both Swastika Laboratory and ELRFS Laurentian University
Laboratory are ISO 9001:2000 certified laboratories.
3
Table 1: Resource Estimate
Indicated
Drill hole #
Radius
Name
m
CR-2014-01W
30
CR-2014-02W
30
CR-2014-03E
30
CR-2014-04W
30
CR-2014-05E
30
CR-2014-06E
24.75
CR-2014-07W
24.75
CR-2014-09E
24.75
Composit Tonnage:
Inferred
Radius
Drill Depth Vert. Depth
m
m
m
100
98.95
85.6907
100
99
85.734
100
102
88.332
100
88.2
76.3812
100
82.9
71.7914
82.5
70.3
60.8798
82.5
41
35.506
82.5
Average Grade throughout the drill hole:
Palladium
Platinum
Drillhole #
Name
(g/ton)
(g/ton)
CR-2014-01W
4.89
0.09
CR-2014-02W
4.34
0.07
CR-2014-03E
4.30
0.12
CR-2014-04W
5.68
0.11
CR-2014-05E
8.15
0.14
CR-2014-06E
5.98
0.11
CR-2014-07W
6.34
0.11
Average grade
5.67
0.10
Rhodium
Yttrium
Cerium
(g/ton)
0.04
0.07
0.04
0.09
0.13
0.12
0.17
(g/ton)
0.06
0.26
0.22
0.19
0.19
0.09
0.05
(g/ton)
33.68
21.47
23.04
23.57
30.91
27.76
24.24
(g/ton)
28.38
11.91
16.19
14.03
19.59
18.46
12.88
(g/ton)
34.83
36.95
31.54
31.58
28.52
26.18
29.23
0.09
0.15
26.38
17.35
31.26
Calculation of Metal Content: 'INDICATED RESOURCE'
Pd
Pt
Rh
Drill hole #
Name
Ounce
Ounce
Ounce
CR-2014-01W
53,271
1,007
490
CR-2014-02W
47,385
712
726
CR-2014-03E
48,356
1,303
451
CR-2014-04W
55,173
1,027
852
CR-2014-05E
74,435
1,241
1,179
CR-2014-06E
21,021
382
407
CR-2014-07W
12,995
219
346
CR-2014-09E
Total Indicated
312,636
5,890
4,451
Total PGE (Indicated Resource) :
322,977
Total Au (Indicated Resources) :
9,899
Total REE (Sc+Y+Ce) (Indicated)
136,927
Calculation of Metal Content: 'INFERRED RESOURCE'
Pd
Pt
Rh
Drill hole #
Name
Ounce
Ounce
Ounce
CR-2014-01W
538,631
10,183
4,955
CR-2014-02W
479,119
7,198
7,336
CR-2014-03E
488,930
13,172
4,558
CR-2014-04W
557,863
10,388
8,619
CR-2014-05E
752,622
12,545
11,924
CR-2014-06E
212,543
3,859
4,115
CR-2014-07W
131,394
2,215
3,494
Total Inferred
3,161,101
59,558
45,001
Gold
Indicated Resources
Volume
SG
Tonnage
Cu M
Tons/Cu M
tons
121081
2.80
339,027
121142
2.80
339,198
124813
2.80
349,477
107927
2.80
302,195
101441
2.80
284,035
39033
2.80
109,292
22765
2.80
63,741
0
2.80
1,786,965
Au
Scandium
Inferred Resources
Volume
SG
Cu M
Tons/Cu M
1,224,263
2.8
1,224,882
2.8
1,261,999
2.8
1,091,258
2.8
1,025,684
2.8
394,667
2.8
230,176
2.8
-
Sc
Y
Ce
Ounce
607
2,814
2,497
1,847
1,714
321
100
Kg
11,419
7,282
8,050
7,122
8,780
3,034
1,545
Kg
9,623
4,039
5,657
4,239
5,564
2,017
821
Kg
11,807
12,534
11,024
9,544
8,101
2,861
1,863 *Partial Estimate
9,899
ounces
ounces
Kgs.
47,233
31,960
57,734
Au
Sc
Y
Ounce
6,140
28,450
25,245
18,673
17,328
3,246
1,007
Kg
115,460
73,629
81,397
72,015
88,773
30,680
15,621
Kg
97,301
40,835
57,197
42,859
56,262
20,398
8,301
100,088
477,575
323,152
Tonnage
tons
3,427,936
3,429,669
3,533,598
3,055,523
2,871,914
1,105,068
644,492
18,068,200
Ce
Kg
119,378
126,732
111,464
96,504
81,909
28,928
18,841 *Partial Estimate
583,755
4
PARAMETERS:
1. An Inferred mineral resource is a deposit which has been sampled (usually by drilling) to a point at
which an estimate of its grade and tonnage is made at low confidence. Generally this is very approximate
and subject to uncertainties.
2. An Indicated mineral resource is a deposit in which tonnage, density; shape, physical characteristics,
grade and mineral content can be estimated with a reasonable level of confidence. However, the
continuity of the deposit is not verified.
3. Radius used for calculating the area of influence covered by the Indicated resource was set at 25% of
the radius used in calculating the area of influence of Inferred resource of each drill hole.
4. The radius used in calculating the area of influence of inferred resource is set at the midpoint of the
distance between drill holes.
5. Vertical Depth is calculated as drill depth multiplied by the sine of the drill inclination which is 60
degrees
6. Volume of influence is divided by the number of drill holes that occupy the area of influence.
7. Tonnage was calculated by multiplying the volume by the specific gravity which is set at 2.8 tons per
cubic meter.
8. Average grade was calculated by taking the summation of assay multiplied by the sample length and
divided by the total sample length.
9. Precious Metal content was calculated by multiplying the average grade by the total tonnage and
divided by 31.1 grams per troy ounce. The resulting values are in troy ounces.
10. REE (Sc, Y, and Ce) metal content was calculated by multiplying the average grade by the total
tonnage and divided by 1000 grams per kilogram. The resulting values are in Kgs.
11. Multi element analysis was performed by ELRFS Laurentian University using an acid digest method.
12. Sample Preparation was performed by Swastika laboratories.
13. All assay results and sample preparation were certified by both laboratories.
GEOLOGY:
CanRee Project:
This project occurs within the mining claim boundaries of claim numbers 4273175, 4273194, 4276170
and 4276169. The CanRee is generally overlain by mafic volcanics intruded by syenite dykes and gabbro.
The North South trending gabbro which is the main target for Rare Earth Elements is a single intrusive
body on the Southern portion of 4273175 but divides into two sections when it approaches the claim
boundary of 4273175. One gabbro intrusive occurs in the West and the other gabbro intrusive occurs in
the east of the North South claim boundary. The mafic volcanics and syenite packages are sandwiched
by the two North South trending gabbro intrusives from the East and West. The mafic volcanics appear
brecciated in-situ while the syenite appears as a breccia zone (syenite with mafic volcanics inclusions). It
5
appears that the mineralization in this project area is structurally controlled. Further drilling and advanced
exploration would determine this in greater detail.
The dimensions of the potential mineralized area hosted in the gabbro, mafic volcanics and breccia zone
is 1400 meters North South by 200 meters East West. They are within the claim areas mentioned. Further
exploration would expand the potential area based on VLF geophysical survey from West to East to
locate conductive materials beneath the surface.
Golden Target Project:
This project occurs within the mining claim boundaries of claims 4277124, 4273033, 4273035, 4273034
and 4274040. Historical drilling results show a gold anomaly as high as 0.13 ounces per ton in a 1 foot
zone just east of the claim 4273033. Three exploratory drill holes were being drilled during the 2014 field
season.
For drill hole GT-2014-26N which was drilled to a depth of 756 feet, certain shear zones were observed in
the core, and passed through as well as two VLF geophysical targets that were pinpointed were also
intercepted. One shear zone showed a high conductivity value during the electrical probe test.
Drill hole GT-2014-27S is an exploratory drill hole which was planned to drill through and intercept two
Quartz veins, with gold anomalies as high as 379 ppb analysed from rock chip samples directly on the
surface of the rock outcrop. Two VLF geophysical anomalies were detected south of the Quartz veins
which were also targeted by this drill hole. Channel Sampling was also conducted on the surface outcrop
stripped by the excavator surrounding the surface area of drill hole GT-2014-27S.
Drill hole GT-2014-28N is within the mining claim boundary of claim 4277124, where historical
prospecting and trenching were conducted. From the VLF survey, a moderately strong conductor, a
weaker conductor and a resistive unit were found and these were the targets to drill through. A very
interesting zone of VMS section was intercepted from 34 meters up to 200 meters in depth. From the
surface prospecting carried out during the 2014 field season, a silicified mafic volcanic lithological unit
with a 1 meter width of chert beds were identified which are coincidentally located on the resistive rock
unit interpreted from the VLF survey. Historical trenching shows 10-15% banded disseminated pyrite in 4
inches pyrite with 6 inches quartz vein zones. We strongly anticipate that assay results should determine
a significant gold zone in these areas.
A total of 23 channel samples were collected from two zones of GT-2014-27S and GT-2014-26N,
accurately documented and delivered to the labs for analysis.
Key Points of Interest for these Projects:








Mining friendly jurisdiction of the historic Timmins gold camp of Matheson, Ontario, Canada.
Exploration and Aboriginal agreements in place.
Exciting PGE and Gold discoveries.
This project consists of large contiguous mining lands of 24 active mining claims covering
approximately 3000 hectares.
Mining rights 100% owned by GOOD Mining Exploration Inc.
Local infrastructure in place such as roads, highways, electricity, water, crusher mills and rail.
Open pit mining with little overburden on both the CanRee and Golden Target projects.
Expansion of claims base is ongoing to expand the PGE and Gold prospects.
6
Figure 1 – Drill hole Locations within CanRee Project
Figure 2 – Drill hole Locations within the Golden Target Project
7
SUMMARY LOG
From
To
0.0
0.88
0.88
26.94
26.94
34.40
34.40
64.55
64.55
69.00
69.00
99.83
99.83
99.83
SUMMARY LOG
Hole Number CR-2014-01W
Lithology
Overburden
Fine to Medium grained Gabbro
2.7- 2.86 : Mafic Syenite
3.85- 4.15 : Mafic Syenite
7.34- 7.95 : Mafic Syenite
21.23 : QCV
22.5 : QCV
22.6 : QCV
Mafic Intrusive
Porphyritic Gabbro
35.12- 35.26 : Mafic Intrusive
Mafic Intrusive
Fine to Medium Grained Gabbro
89.30- 89.80 : Mafic Syenite
End of Hole (EOH)
AS
Hole Number CR-2014-02W
From
To
0.0
0.3
0.3
29.2
29.2
41.7
41.7
65.7
65.7
70.1
70.1
99.2
99.2
99.2
Lithology
Overburden
Altered Mafic Volcanics
0.25- 0.70 : Syenite
0.70- 3.70 : Mafic Volcanics
3.70- 5.70 : Syenite
5.77- 23.3 : Mafic Volcanics
23.3- 24.2 : Syenite
24.2- 29.15 : Mafic Volcanics
Syenite
31.6- 31.7 : Mafic volcanics.
31.8- 31.93 : Mafic Volcanics.
32.19- 32.42 : Mafic Volcanics
37.0- 37.63 : Mafic Volcanics
Altered Mafic Volcanics
43.08- 44.0 : Syenite
51.0- 52.6 : Mixed Syenite
55.5- 56.1 : Syenite
57.6- 58.4 : Mixed Syenite
Feldspar Porphyry
Altered Mafic Volcanics
74.03-74.23 : Feldspar Porphyry
74.70- 75.70 : Feldspar Porphyry
77.2- 78.8 : Mixed Syenite
79.25- 79.4 : Syenite
81.20- 82.95 : Syenite
87.90- 88.10 : Syenite
97.20- 99.13 : Mixed Syenite
End of Hole (EOH)
8
SUMMARY LOG
Hole Number CR-2014-03E
From
0.0
0.2
20.3
To
0.2
20.3
36.0
36.0
42.3
72.0
102.1
42.3
72.0
102.2
102.1
SUMMARY LOG
From
0.0
2.1
7.9
12.1
16.6
22.5
27.5
AS
Lithology
Overburden
Altered Mafic Volcanics
Fine to Medium Grained Gabbro
20.3-21.2 : Transition zone
Porphyritic Gabbro
Fine to Medium Grained Gabbro
Altered Mafic Volcanics
End of Hole (EOH)
Hole Number CR-2014-04W
To
2.1
7.9
12.1
16.6
22.5
27.5
78.7
AS
Lithology
Overburden
Contact Zone
Syenite
Mafic Volcaniclastic
Syenite
Contact Zone
Syenite
31.0- 31.4 : Mafic Volcaniclastics
32.0- 32.62 : Mafic volcaniclastics
34.5- 35.2 : Mafic volcaniclastic
37.0-38.27 : Mafic Intrusive
41.23- 42.15 : Mafic Volcanics
43.05- 43.33 : Mafic Volcanics.
43.60- 43.94 : Mafic Volcanics
48.7- 49.02 : Mafic volcaniclastics.
78.7
96.1
96.1
111.5
Mafic Intrusive
93.64- 96.1 : Syenite
Mafic Volcanics
102.2- 107.0 : Mineralized Zone
111.5
134.0
Fine to medium Grained Gabbro
134.0
153.1
153.1
153.1
Porphyritic Gabbro
End of Hole (EOH)
9
SUMMARY LOG
Hole Number CR-2014-05E
From
0.0
2.0
3.8
44.8
55.5
To
2.0
3.8
44.8
55.5
75.0
75.0
94.9
94.9
99.4
99.4
99.4
SUMMARY LOG
AS
Lithology
Overburden
Syenite
Fine to medium grained Gabbro
Mafic Volcanics/Syenite package
Syenite/Amphibolite Package
60.5- 64.9 : Feldspar Porphyry
67.95- 68.6 : Syenite
69.77- 74.9 : Syenite
Fine to Medium Grained Gabbro
Mafic Volcanics/Syenite package
96.65- 97.40 : Feldspar Porphyry
97.96- 98.70 : Feldspar Porphyry
End of Hole (EOH)
Hole Number CR-2014-06E
From
0.0
To
1.4
1.4
29.1
29.1
42.5
AS
Lithology
Overburden
Amphibolite
Feldspar Phyric Amphibolite
30.14- 30.30 : Syenite
@33.3 cm is a syenite dyke 6 cm thick and
have contact angkes of 10 dtca.
39.83- 42.45 : Mixed intrusive
Syenite
42.5
46.3
46.3
46.8
46.8
52.5
Contact transition zone.
Feldpar Phyric Amphibolite
52.5
66.9
Amphibolite
52.5- 54.9 : Fine grained Amphibolite
54.9- 62.1 : Amphibolite
66.9
101.1
59.9- 60.2 : Syenite
Fine to Medium Grained Gabbro
86.5- 87.25 : Altered Mafic Syenite
101.1
112.0
Amphibolite
110.5- 111.5 Fault breccia zone
101.5- 101.63 : Quartz Vein
101.1- 101.2 : Quartz vein
112.0
112.0
End of Hole (EOH)
10
11
Forward-looking Statements
Certain statements in this press release relating to the Company’s exploration activities, project
expenditures and business plans are "forward-looking statements" within the meaning of securities
legislation. The Company does not assume any obligation, to update these forward-looking
statements. These forward-looking statements represent management’s best judgment based on current
facts and assumptions that management considers reasonable. The Company makes no representation
that reasonable business people in possession of the same information would reach the same
conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements expressed or implied by the
forward-looking statements. In particular, fluctuations in the price of metals or in currency markets could
prevent the Company from achieving its targets. Readers should not place undue reliance on forwardlooking statements.
Note: Although the results and the findings in this report are significant, and it is the opinion of the
company that we have discovered a high quality and rare multi mineral deposit in the CanRee, this
release is a preliminary report based on only 7 of 28 drill holes being completed, sampled and analysed
by reputable laboratories. A complete list of the minerals and elements present in all of the samples is
included in the multi-element analysis report, which will be released in its entirety in the ‘2014 Season
Annual Technical Work Report’ slated to be released in early 2015. There is no guarantee that drill results
reported in this preliminary news release will lead to the identification of a deposit that can be mined
economically. Further drill results, reports and/or work are required to identify a proven reserve or
resource as a qualifying factor for an NI 43-101 compliant report. Further press releases are to follow in
the coming weeks and months.
12