Broadway Gold Mining has recently begun both surface and underground mining at its Madison Mine, advancing exploration at the historic gold-copper project in the Butte-Anaconda mining district of Montana and netting the attention of industry watchers.
In a Feb. 27 press release, Broadway Gold Mining Ltd. (BRD:TSX.V; BDWYF:OTCQB) announced the onset of underground drilling at the 100%-owned Madison project. The phase 1 underground drilling program is being conducted in tandem with a phase 2 surface drilling program announced in a Feb. 21 press release.
The company states the underground drilling program has two goals: “testing the down dip continuation of the copper and gold mineralization on the 600 Level; and exploring the newly discovered mineralization to the west of the decline.”
Broadway’s surface exploration program, which got underway in January, was expanded earlier in February, when “alteration and mineralization observed in the eight holes drilled to date provide[d] confidence that additional drilling [was] warranted,” the company stated on Feb. 21.
According to the company, the 100%-owned Madison Mine, with a 130-year mining history and proximity to the renowned Butte copper mine, encompasses 450 acres and “consists of six patented claims and 35 unpatented claims, plus a 192-acre ranch, together with exploration permits, rights, interests, buildings and fixtures.”
Exploration by the previous owner “confirmed the existence of high-grade gold and copper zones prior to bulk testing,” the company’s fact sheet states. In addition, the Madison project “also hosts the Broadway gold mine, which from the 1880s through to the 1950s yielded approximately 144,000 ounces of gold.”
In an article published in the February/March 2017 issue of Resource World, Ellsworth Dickson lists Broadway Gold Mining as one of eight companies to watch, based on “the three M’s: Money, Management, and Mineral Project.”
The property, Dickson notes, “hosts a copper-gold skarn deposit and a potentially deeper copper-gold porphyry …read more