MONTREAL, May 22, 2014 /CNW Telbec/ - Greg Struble, President and CEO of
Maudore Minerals Ltd. ("Maudore" or the "Corporation") (MAO: TSX-Venture; MAOMF: US OTC; M6L: Frankfurt Exchange) reports that Maudore's subsidiary, Aurbec Mines
Inc. ("Aurbec") through their Joint Venture with Midland Exploration Inc. ("Midland") has completed diamond drilling on its Laflamme property, which tested
high-priority targets located along a gold trend identified during the
2013 work program.
During the winter of 2014, five (5) diamond drill holes were completed
for a total of 881.0 metres. Drill hole LAF-14-30 targeted the Notting
Hill showing, about 75 metres below drill hole LAF-13-21, which
intersected a wide gold-bearing zone in 2013 grading 0.34 g/t Au over
25.56 metres, including 3.12 g/t Au over 1.50 metres. Drill hole
LAF-14-30 intersected chloritized breccia at about 230 metres, followed
by a 0.7-metre-wide mineralized shear zone with 5% pyrite at about 253
metres depth. These two zones are bordered by biotite alteration, which
represents the extension of the gold-bearing zone intersected in drill
hole LAF-13-21. Drill hole LAF-14-30 was drilled to a final depth of
296.0 metres and intersected a gold-bearing interval between 258.18 and
258.92 metres, grading 4.43 g/t Au over 0.74 metre, included within a
wider zone grading 1.71 g/t Au over 2.66 metres from 258.18 to 260.84
This drill campaign confirms the gold-bearing structure at the Notting
Hill showing extends to the Northeast. Midland is currently reviewing
areas along this structure where structural complexities may occur and
plans to test the latter with induced polarization surveys.
The Laflamme property covers more than 50 kilometres of favourable
stratigraphy and structures with potential for orogenic gold,
volcanogenic massive sulphides (Cu-Zn), and magmatic Ni-Cu-PGE deposits
associated with ultramafic rocks. This property was acquired in 2008
based on the presence of significant gold, copper, and zinc anomalies
in till, identified under the Octave project jointly led by the
Ministère des Ressources Naturelles et de la Faune (MRNF) and the
Geological Survey of Canada (GSC).
The Laflamme project is located about 25 kilometres northwest of the
town of Lebel-sur-Quévillon and about 30 kilometres east of the
Sleeping Giant mine and mill in Quebec. The Laflamme project comprises
682 claims covering a surface area of about 359 square kilometres and
is a joint venture between Midland and Aurbec. Midland is current
operator of the LaFlamme joint venture.
This press release was prepared by Mario Masson, Vice-President of
Midland. Kevin R. Kivi, P.Geo. of KIVI Geoscience Inc., who is
Maudore's Chief Consulting Geologist and a Qualified Person under
Regulation 43-101, has edited the press release to fit Maudore's
format, and approves its technical content.
About Maudore Minerals Ltd.
Maudore is a Quebec-based junior gold company in production, with mining
and milling operations as well as more than 22 exploration projects.
Five of these projects are at an advanced stage of development with
reported current and historical resources and mining. Currently, gold
production is ramping up at the Sleeping Giant mine. The Company's
projects span some 120 km, east-west of the underexplored Northern
Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of
1,285 km². The Sleeping Giant Processing Facility is within trucking
distance of all key development projects.
Cautionary Statement Regarding Forward-Looking Statements
This release and other documents filed by the Company contain
forward-looking statements. All statements that are not clearly
historical in nature or that necessarily depend on future events are
forward-looking, and the words "intend", "anticipate", "believe",
"expect", "estimate", "plan" and similar expressions are generally
intended to identify forward-looking statements. These forward-looking
statements include, without limitation, performance and achievements of
the Company, business and financing plans, business trends and future
operating revenues. These statements are inherently uncertain and
actual achievements of the Company or other future events or conditions
may differ materially from those reflected in the forward-looking
statements due to a variety of risks, uncertainties and other factors,
including, without limitation, financial related risks, unstable gold
and metal prices, operational risks including those related to title,
significant uncertainty related to inferred mineral resources,
operational hazards, unexpected geological situations, unfavourable
mining conditions, changing regulations and governmental policies,
failure to obtain required permits and approvals from government
authorities, failure to obtain any required approvals of the TSXV or
from shareholders, failure to obtain any required financing, failure to
complete any of the transactions described herein, increased
competition from other companies many of which have greater financial
resources, dependence on key personnel and environmental risks and the
other risks described in the Company's continuous disclosure documents.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Maudore Minerals Ltd.
For further information:
President and CEO
+1 647 927 0239
Deputy Chairman of the Board and Director of Corporate Development
+1 416 587 9801
Chief Financial Officer
+1 819 825 4343