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SOURCE Maudore Minerals Ltd.
MONTREAL, Feb. 26, 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") has commenced a diamond drilling campaign on its Laflamme property, to test high-priority targets located along a gold trend identified during the 2013 work program. The Laflamme property 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 exploration program is being conducted by Midland Exploration Inc. ("Midland"), who is current operator of the Laflamme joint venture.
This drilling program, totaling about 1,000 metres in five (5) drill holes, will test three helicopter-borne VTEM-type electromagnetic anomalies as well as the depth and northeast strike extensions of the Notting Hill showing, where a wide gold-bearing zone was intersected in 2013 grading 0.34 g/t Au over 25.56 metres, including an interval at 3.12 g/t Au over 1.5 metres.
The three VTEM targets to be tested during this campaign (EM-09, EM-17 and EM-18) are all located along the favourable gold trend. Anomaly EM-09 is located about 1.5 kilometres southwest of the Comtois NW showing discovered by Maudore, who reported grades of 71.7 g/t Au over 1.2 metres and 0.80 g/t Au over 40.80 metres about 12 kilometres northwest of the Comtois gold deposit (see Maudore press release dated June 6, 2012). Anomalies EM-17 and EM-18 are respectively located about 2 kilometres and 4 kilometres northeast of the Notting Hill showing, in a flexure zone bordering an intrusion.
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 comprises 682 claims covering a surface area of about 359 square kilometres and is a joint venture between Midland and Aurbec.
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 changed the press release to fit Maudore's format, and approves its technical content.
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 1,570 km², with the Sleeping Giant Processing Facility within trucking distance of 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.
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