Trading Symbol: MXD.TSXV
VANCOUVER, April 2 /CNW/ - Maxy Gold Corp. MXD.TSXV ("Maxy") announced
today that it has completed 7 pit holes totaling 51.5 metres (m) and 3
trenches totaling 415m in its testing of the colluvial "gravel" mineralization
potential of the Muluozuo area of the Midu Project in Yunnan Province, China.
Another 7 trenches are planned for completion by the end of April. In
addition, 2 tunnels totaling 150 to 200m were initiated to test the anomalies
at depth and help understand the geological controls. These 2 tunnels should
be completed in the second quarter.
Field work sampling is continuing on a systematic basis with over 50
people working on pitting and trenching and an additional 20 in the
underground workings. Trenching and pitting will continue until mid May, with
results released as a group, rather than individually. Maxy is attempting to
develop visual control of the mineralized unit in an effort to facilitate
ongoing and future exploration work. The exploration program covers a zone of
500m x 350m, within the main soil anomaly that is defined over an area
1000m x 700m. Maxy has enjoyed very good cooperation from the local
communities in completing this evaluation work.
Maxy is also pleased to update the January 14, 2007 press release which
reported 14m returning 4.2 grams per tonne gold (g/t Au) from a north trending
48m long by 7m deep trench put in to verify and expand the surface
mineralization defined in the east-west trench put down earlier in the MZ
zone. Further results from this trench have shown a final exposure of 48.2m
grading 2.6 g/t Au, all associated with the colluvial "conglomerate gravel"
Although preliminary, mapping of the trenching has indicated a
correlation of these impressive gold results with a "conglomerate colluvial"
unit that potentially could be of a similar mineralization style to other
known gold deposits in the world, such as the "La Quinua" deposit at the
Yanacocha mine in Peru.
Much of the gold produced and contained in the Yanacocha gold deposit is
related to high sulphidation epithermal mineralization disseminated in various
volcanic units and in porphyry style copper-gold deposits. However, part of
the mineralization is contained in the "La Quinua" deposit and like the
Muluozuo mineralization, is hosted by unconsolidated gravel.
QUALITY CONTROL PROGRAM AND QUALIFIED PERSON
The quality control program is under the supervision of General Manager
of Geology, Ing Zhu Cheng Wei and Andre Gauthier, President of Maxy Gold.
Samples in trenches were systematic chip samples averaging 1metre in length,
taken from the sides of the trench according to geological unit and across the
entire section ( depending of the depth ) of the trench about every 3 metres.
Trench sample preparation was carried out at the certified SGS Lab in Kunming
and assayed at SGS Tianjin laboratory. Soil samples were split in half and
transported to the SGS laboratory in Kunming where samples were pulverized to
200 meshes and sent for analysis to Langfang Institute of Geochemical and
Geophysical Exploration (certification ISO 9001) a well regarded analytical
laboratory in Langfang, Hebei Province, located some 60 km south of Beijing.
As part of the quality assurance program, systematic core rejects and
pulp samples and standards (approximately 20%) are shipped directly to ALS
Chemex in Vancouver and re-assayed. ALS Chemex is an ISO 9002 registered
Maxy is also pleased to advise that the Chinese minority partner in the
Midu Project, Yunnan Mining Geology And Mining Co, Ltd. (YGM) is providing 25%
of the exploration expenditures, having decided to actively participate to
maintain its 25% joint venture interest. YGM owns the Dalongtang Gold Deposit,
approximately 1.8 km from the Muluozuo property. Dalontang contains similar
mineralization to the Muluozuo and is in production, mining at a rate of 1000
tonnes/day of gold ore. New annual gold production is planned to be
approximately 500 kg once the new plant come into full production at the end
of April 2007.
YGM is a state owned enterprise focused on exploration and development of
mineral resources in Yunnan Province. It has invested over 100 million RMB for
mineral resources development in Yunnan in a number of mining operations and
About Maxy Gold Corp.
Maxy Gold is focused on the acquisition, exploration and responsible
development of precious and base metal properties in China, while building key
strategic alliances. Maxy Gold has assembled a technically oriented team that
combines more than 25 years of exploration experience in China and aims to
become an important player in the development of a strong mining industry and
venture capital market in China over the next few years. The Company has an
exploration project underway on the MIDU joint venture in Yunnan province
where gold mineralization has been identified, and on the strategic joint
venture alliance in Qinghai Province with Western Mining Co. Group, Ltd. one
of China's largest mining and development companies.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical
information, including statements relating to the Company's future plans and
objectives or expected results, constitute forward-looking statements.
Forward-looking statements are based on numerous assumptions and are subject
to all of the risks and uncertainties inherent in the Company's business,
including risks inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
For further information:
For further information: Maxy Gold Corp., Andre Gauthier, President,
Tel: (604) 688-8811, Email: email@example.com; The Equicom Group Inc.,
Michael Joyner, Investor Relations, Tel: (416) 815-0700 ext.275, Email: