MONTREAL, Jan. 22, 2013 /CNW Telbec/ - Maudore Minerals Ltd. ("Maudore" or, the "Company") (MAO: TSX-Venture; MAOMF: US OTC; M6L: Frankfurt Exchange) is pleased to announce a new gold prospect known as Mafic North adjacent to the Osbell Mineral Resource Estimate.
Mafic North Prospect
The Mafic North prospect was discovered when diamond drilling targeting deeper portions of the Osbell deposit returned gold results at the top of the holes. During core logging, altered and mineralized mafic intrusive and volcanic rocks north of the felsic rocks that host the Osbell deposit were noted and sampled. Gold assays (NR 21 November 2012) were followed with a fence of drill holes to determine if the assays were sporadic or belonged to a larger system. Initial drilling confirms that Mafic North may be another gold zone some 200m long, proximal to the Osbell deposit. Further drilling is required to delineate the extent of this discovery.
Notable gold assays in drill hole COM-12-914 Section 1450E from Mafic North are 58.8 g/t Au over 0.5m from 118.0 m, 187.5 g/t Au over 0.5m from 118.5m and 9.40 g/t Au over 1.0m from 119.0m, combined with lower grades for 15.1 g/t Au over 9.0m from 117.5 to 126.5m. Please refer to Table 1 at the end of this news release for more detail and other significant assays.
Greer Prospect Gold Assays
The Greer Gold Prospect, which is located 1.9km southwest of the Osbell Resource Area of Comtois Property, also returns more gold results. The most notable gold assay is 14.7 g/t Au over 0.5m from 433.1m included within 5.8 g/t Au over 2.6m from 431.0m from drill hole COM-12-928, Section G1400E. Please refer to Table 2 at the end of this news release for more details.
Quality Assurance and Quality Control (QA/QC)
Maudore's exploration programme is supervised by Alain Carrier, M.Sc., P.Geo., of InnovExplo Inc., a consulting firm based in Val-d'Or, Quebec. Alain Carrier is a Qualified and Independent Person as defined under Regulation 43-101 guidelines. Drilling is conducted under strict QA/QC protocols, including mineralized standards, blanks and field duplicates. Half of all sampled core is retained for future reference and assaying is performed by ALS Chemex laboratories in Val-d'Or and Timmins, Ontario (fire assay with AA finish and gravimetric finish for results above 3 g/t Au).
Kevin Kivi, P.Geo., Maudore's Chief Consulting Geologist, approves the technical content of this press release.
About Maudore Minerals Ltd.:
Maudore Minerals Ltd. ("Maudore") is a Canadian-based gold exploration Company controlling around 96,000ha (960km2 or 370 sq. miles) of claims dominated by gold-prospective Abitibi Greenstone belt in northwestern Quebec. Maudore owns 100% of the Comtois gold Project defined by a continually expanding resource, solid grades and excellent metallurgical attributes. Infrastructure is very good:
- North America's lowest cost power
- Abundant water
- Mining-oriented local community and workforce
Quebec is consistently ranked amongst the best locations worldwide for mineral exploration and development.
Cautionary Statement Regarding Forward-Looking Statements
This release contains 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 "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. 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 Au and metal prices, operational risks including those related to title, operational hazards, unexpected geological situations, unfavorable mining conditions, changing regulations and governmental policies, failure to obtain required permits and approval from government authorities, failure to obtain required financing, dependence on key personnel and environmental risks. It is recommended not to place undue reliance on forward-looking statements as the plans, intentions or expectations upon which they are based might not occur. The Company does not assume any obligation to update any forward-looking statements contained in this release, except as required by applicable law.
The TSX Venture Exchange has not reviewed this release. 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.
Table 1: Diamond Drill results from Mafic North Prospect, Comtois Property.
|Drill Hole||Section|| From
|Au (g/t)||High grade interval||Weighted average|
|MAFIC NORTH PROSPECT|
|COM-12-912||1550E||334.0||334.8||0.8||12.0||12.0 g/t Au over 0.8m|
|344.0||344.5||0.5||3.7||3.7 g/t Au over 0.5m||2.9 g/t Au over 1.0m|
|419.8||420.5||0.7||4.8||4.8 g/t Au over 0.7m||3.1 g/t Au over 1.2m|
|COM-12-913||1550E||259.0||259.5||0.5||18.9||18.9 g/t Au over 0.5m||3.4 g/t Au over 3.0m|
|339.5||340.0||0.5||0.3||2.1 g/t Au over 1.0m|
|340.0||340.5||0.5||3.8||3.8 g/t Au over 0.5m|
|495.4||496.4||1.0||13.2||13.2 g/t Au over 1.0m||2.9 g/t Au over 5.0m|
|606.7||607.7||1.0||2.2||1.5 g/t Au over 3.9m|
|610.1||610.6||0.5||5.4||5.4 g/t Au over 0.5m|
|COM-12-914||1450E||117.5||118.0||0.5||3.7||53.8 g/t Au over 2.5m||15.1 g/t Au over 9.0m|
|COM-12-952||1550E||412.6||413.2||0.6||4.8||4.8 g/t Au over 0.6m||4.5 g/t Au over 1.6m|
|413.2||414.2||1.0||4.3||4.3 g/t Au over 1.0m|
|443.6||444.7||1.1||4.0||4.0 g/t Au over 1.1m|
|COM-12-954||1350E||455.0||456.0||1.0||4.4||2.1 g/t Au over 5.5m|
|457.8||458.6||0.8||6.8||6.8 g/t Au over 0.8m|
|493.0||494.5||1.5||3.3||3.3 g/t Au over 1.5m|
|COM-12-961||1350E||351.5||352.0||0.5||3.5||3.5 g/t Au over 0.5m|
Table 2: Diamond Drill results from Greer Prospect, Comtois Property.
|Drill Hole||Section|| From
|Au (g/t)|| High grade
|COM-12-928||G1400E||406.5||407.5||1.0||1.7||2.6 g/t Au over 2.0m|
|408.0||408.5||0.5||4.9||4.9 g/t Au over 0.5m|
|431.0||432.2||1.2||6.4||5.8 g/t Au over 2.6m|
|433.1||433.6||0.5||14.7||14.7 g/t Au over 0.5m|
SOURCE: Maudore Minerals Ltd.
For further information:
Ms. Deborah Thompson
Manager, Investor & Media Relations
Email: [email protected]
+1 (416) 918-9551 (Mobile); +1 514-439-0990 (Office)
Dr. Howard Carr, CEO
Email: [email protected]
+1 (438) 838-4040 (Mobile); +1 514-439-0990 (Office)