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 metres.
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
Email: [email protected]
+1 647 927 0239
Deputy Chairman of the Board and Director of Corporate Development
Email: [email protected]
+1 416 587 9801
Chief Financial Officer
Email: [email protected]
+1 819 825 4343