MONTREAL,
Jan. 27, 2014 /CNW Telbec/ -
Greg Struble, President and Chief
Executive Officer of Maudore Minerals Ltd. ("Maudore" or the
"Company") (MAO: TSX Venture; MAOMF: US OTC;
M6L: Frankfurt Exchange), announces that Maudore has
conducted a detailed review of the historical geophysical datasets
compiled by Aurbec Mines Inc. ("Aurbec") both prior to the
acquisition of Aurbec by Maudore (when Aurbec was known as NAP
Quebec Mines ("NAP Quebec")) and subsequent to such acquisition
(when NAP Quebec was then renamed Aurbec Mines Inc.). The
result of this review is that the Company has identified a new gold
zone east of its Sleeping Giant mine.
Through stitching Maudore's detailed
aeromagnetic data with NAP Quebec's historical detailed magnetic
surveys, geologists continue to improve the ability to explore the
Company's land holdings. Importantly, within a few kilometers
of the Sleeping Giant headframe and mill, new mineralized
exploration targets have been identified from this review of the
combined magnetic dataset and historical drill data in the Northern
Volcanic Zone of the Abitibi Greenstone Belt. These targets are
significant as they may represent potential brownfield discoveries
which are adjacent to an operating mill and therefore may provide
the Company with future growth opportunities once markets
rebound.
Combined aeromagnetic surveys
In 2012, Maudore completed detailed regional
airborne magnetic surveys to cover all of the Company's land
holdings in the Northern Volcanic Zone of the Abitibi Greenstone
Belt. The Aurbec acquisition brought with it similar airborne
magnetic surveys covering Aurbec's properties. Combining these two
datasets has generated a new strategic asset that will be
instrumental in Maudore's efforts to identify new discoveries.
The stitching together of high resolution
airborne magnetic datasets has generated a new level of detail in
regional magnetics which can be used to map property geology and
identify gold-bearing structures (see Figure 1 below). The combined
dataset consists of 13 low-level detailed aeromagnetic surveys
totaling 14,667 line-kilometers flown by NOVATEM Inc for Maudore in
the last quarter of 2012. Six other geophysical datasets previously
flown by Aurbec are also integrated into the enhanced dataset.
Maudore's consulting geophysicist has processed this data and
provided an interpretation that has now been integrated into the
Company's GIS database. The next steps would be to add airborne
VTEM and MegaTEM electromagnetic anomalies and land-based induced
polarization geophysical targets in order to further enhance the
dataset.
Figure 1: Stitched High-Resolution
Magnetics Overlain on the Background Regional Magnetics
Link to Figure 1:
http://maudore.com/en/MediaHandler.ashx?MediaId=3b51f3ec-ef92-43fb-b3e5-a2a88543516f
As shown in Figure 1, the higher resolution and
structural definition delivered from the current stitching project
show up quite clearly against the existing regional background
magnetics.
The Northern Volcanic Zone of the Abitibi
Greenstone Belt is underexplored primarily because it is generally
covered by thick overburden. New discoveries rely heavily on the
Company's experienced geologists and geophysicist, who have a long
history of discovery through efficient and effective use of
advanced geophysical, GIS and 3D modeling software to identify
areas with high potential for the discovery of anomalies associated
with gold and other economic commodities. Maudore's combined
properties have a high potential for lode gold, VMS gold, base
metals and Cu-Ni-PGE discoveries; and the Company's geologic team
has experience in exploration, discovery and development in respect
of all of these deposit types.
Drilling review highlights gold discovery
made in 2011
Between 2009 and 2011, NAP Quebec completed 44
diamond drill holes for 21,048 m on the Sleeping Giant and Dormex
properties and discovered the 1200 East Zone, located a few hundred
meters south of the previously mined J-D Zone. These positive drill
results are only now being released to the public as their
significance to Maudore becomes apparent from the interpretation of
the combined aeromagnetic surveys.
The best intersections from the 1200 East Zone
are 30.34 g/t Au over 2.0 m and 16.61 g/t Au over 1.0 m from
diamond drill hole (DDH) GDS-235-11, and 12.30 g/t Au over 1.0 m
and 11.70 g/t Au over 1.0 m from DDH GDS-227-10. Furthermore,
DDH GDS-225-10 returned 26.40 g/t Au over 0.5 m in the J-D
extension zone and DDH GDS-218-09 returned 21.2 g/t Au over 0.5 m
in an area north of the Sleeping Giant mine. All diamond drill core
intercepts are core measurements and do not represent the true
width of the gold-bearing zones.
These positive historical drill results
demonstrate excellent potential to discover more gold deposits
adjacent to the Sleeping Giant mine and mill complex, and on the
Company's other properties. Table 1 presents other significant
results of the historical exploration program, and Table 2 presents
the locations of these diamond drill holes. The Company's ability
to explore for significant new deposits to add to its current
pipeline of projects has improved with the addition of the updated
geophysical data base for the regional properties.
Qualified Person
Kevin R. Kivi,
P.Geo., of KIVI Geoscience Inc. approves the technical content of
this press release after review of historical drill data and a
final report. The program was conducted under a quality assurance
and quality control (QA/QC) protocol that included insertion of
mineralized standards and blanks, and reanalysis of randomly chosen
samples and samples with high gold concentration. Historical
assaying was conducted by the Sleeping Giant Laboratory, which is
owned by Aurbec and is neither independent nor accredited. The
historical drill project was supervised by a qualified professional
known to Mr. Kivi.
About Maudore
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 regulatory authorities or from
shareholders, failure to obtain any required financing, 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.
Table 1: Aurbec Mines Inc. 2009-2011 significant drill
intercepts.
|
|
|
|
|
|
|
|
|
Drill Hole |
|
From |
|
To |
|
Length (m) |
|
Value (Au
g/t) |
GDS-217-09 |
|
138.4 |
|
139.4 |
|
1.0 |
|
1.06 |
GDS-218-09 |
|
186.5 |
|
187.0 |
|
0.5 |
|
2.98 |
GDS-218-09 |
|
187.0 |
|
187.5 |
|
0.5 |
|
21.12 |
GDS-218-09 |
|
233.0 |
|
233.5 |
|
0.5 |
|
7.22 |
GDS-218-09 |
|
234.5 |
|
235.0 |
|
0.5 |
|
1.11 |
GDS-218-09 |
|
235.0 |
|
235.5 |
|
0.5 |
|
1.13 |
GDS-218-09 |
|
247.0 |
|
248.0 |
|
1.0 |
|
1.82 |
GDS-218-09 |
|
252.0 |
|
253.0 |
|
1.0 |
|
1.04 |
GDS-218-09 |
|
253.0 |
|
254.0 |
|
1.0 |
|
1.50 |
GDS-218-09 |
|
258.0 |
|
259.0 |
|
1.0 |
|
1.35 |
GDS-218-09 |
|
261.0 |
|
262.0 |
|
1.0 |
|
1.09 |
GDS-218-09 |
|
266.5 |
|
267.0 |
|
0.5 |
|
6.57 |
GDS-218-09 |
|
315.5 |
|
316.0 |
|
0.5 |
|
1.50 |
GDS-218-09 |
|
358.0 |
|
359.0 |
|
1.0 |
|
1.50 |
GDS-219-09 |
|
263.5 |
|
264.5 |
|
1.0 |
|
5.33 |
GDS-219-09 |
|
264.5 |
|
265.5 |
|
1.0 |
|
3.75 |
GDS-219-09 |
|
265.5 |
|
266.3 |
|
0.8 |
|
1.07 |
GDS-219-09 |
|
276.7 |
|
277.7 |
|
1.0 |
|
1.05 |
GDS-219-09 |
|
379.2 |
|
380.1 |
|
0.9 |
|
2.93 |
GDS-222-10 |
|
127.0 |
|
128.0 |
|
1.0 |
|
6.96 |
GDS-223-10 |
|
112.25 |
|
112.75 |
|
0.5 |
|
1.35 |
GDS-223-10 |
|
201.15 |
|
202.15 |
|
1.0 |
|
1.60 |
GDS-223-10 |
|
312.3 |
|
313.3 |
|
1.0 |
|
1.24 |
GDS-223-10 |
|
375.7 |
|
376.2 |
|
0.5 |
|
2.52 |
GDS-224-10 |
|
196.0 |
|
197.0 |
|
1.0 |
|
3.19 |
GDS-224-10 |
|
268.0 |
|
269.0 |
|
1.0 |
|
1.03 |
GDS-224-10 |
|
309.0 |
|
310.0 |
|
1.0 |
|
8.80 |
GDS-224-10 |
|
342.0 |
|
343.0 |
|
1.0 |
|
3.86 |
GDS-224-10 |
|
346.0 |
|
347.0 |
|
1.0 |
|
1.59 |
GDS-224-10 |
|
348.0 |
|
349.0 |
|
1.0 |
|
1.74 |
GDS-224-10 |
|
382.0 |
|
383.0 |
|
1.0 |
|
1.05 |
GDS-224-10 |
|
428.0 |
|
429.0 |
|
1.0 |
|
6.07 |
GDS-225-10 |
|
109.5 |
|
110.0 |
|
0.5 |
|
26.40 |
GDS-225-10 |
|
130.9 |
|
131.4 |
|
0.5 |
|
1.24 |
GDS-225-10 |
|
143.5 |
|
144.0 |
|
0.5 |
|
1.17 |
GDS-225-10 |
|
185.25 |
|
186.25 |
|
1.0 |
|
2.39 |
GDS-225-10 |
|
290.5 |
|
291.5 |
|
1.0 |
|
1.44 |
GDS-225-10 |
|
454.0 |
|
455.0 |
|
1.0 |
|
1.29 |
GDS-226-10 |
|
149.0 |
|
150.0 |
|
1.0 |
|
2.96 |
GDS-226-10 |
|
193.0 |
|
194.0 |
|
1.0 |
|
1.29 |
GDS-226-10 |
|
357.0 |
|
358.0 |
|
1.0 |
|
2.79 |
GDS-227-10 |
|
94.0 |
|
95.0 |
|
1.0 |
|
1.84 |
GDS-227-10 |
|
102.25 |
|
102.75 |
|
0.5 |
|
1.53 |
GDS-227-10 |
|
220.5 |
|
221.0 |
|
0.5 |
|
1.06 |
GDS-227-10 |
|
243.0 |
|
244.0 |
|
1.0 |
|
3.80 |
GDS-227-10 |
|
248.5 |
|
249.5 |
|
1.0 |
|
11.70 |
GDS-227-10 |
|
274.0 |
|
275.0 |
|
1.0 |
|
3.62 |
GDS-227-10 |
|
286.2 |
|
286.7 |
|
0.5 |
|
2.53 |
GDS-227-10 |
|
300.5 |
|
301.0 |
|
0.5 |
|
1.12 |
GDS-227-10 |
|
308.0 |
|
309.0 |
|
1.0 |
|
1.03 |
GDS-227-10 |
|
392.5 |
|
393.5 |
|
1.0 |
|
12.30 |
GDS-227-10 |
|
396.0 |
|
397.0 |
|
1.0 |
|
3.35 |
GDS-227-10 |
|
427.0 |
|
427.5 |
|
0.5 |
|
1.12 |
GDS-227-10 |
|
443.5 |
|
444.5 |
|
1.0 |
|
1.49 |
GDS-228-10 |
|
160.0 |
|
161.0 |
|
1.0 |
|
2.94 |
GDS-228-10 |
|
345.0 |
|
346.0 |
|
1.0 |
|
2.94 |
GDS-228-10 |
|
359.5 |
|
360.0 |
|
0.5 |
|
1.51 |
GDS-229-10 |
|
360.0 |
|
360.5 |
|
0.5 |
|
1.02 |
GDS-232-10 |
|
365.0 |
|
366.0 |
|
1.0 |
|
1.08 |
GDS-232-10 |
|
376.0 |
|
377.0 |
|
1.0 |
|
2.76 |
GDS-233-11 |
|
136.0 |
|
137.0 |
|
1.0 |
|
6.18 |
GDS-233-11 |
|
141.0 |
|
142.0 |
|
1.0 |
|
3.22 |
GDS-233-11 |
|
162.0 |
|
163.0 |
|
1.0 |
|
2.83 |
GDS-233-11 |
|
382.0 |
|
383.0 |
|
1.0 |
|
1.59 |
GDS-233-11 |
|
515.5 |
|
516.5 |
|
1.0 |
|
8.95 |
GDS-233-11 |
|
598.5 |
|
599.5 |
|
1.0 |
|
1.34 |
GDS-234-11 |
|
90.0 |
|
91.0 |
|
1.0 |
|
1.72 |
GDS-234-11 |
|
211.5 |
|
212.0 |
|
0.5 |
|
1.86 |
GDS-234-11 |
|
256.0 |
|
257.0 |
|
1.0 |
|
1.25 |
GDS-234-11 |
|
262.5 |
|
263.5 |
|
1.0 |
|
1.05 |
GDS-234-11 |
|
291.5 |
|
292.5 |
|
1.0 |
|
1.20 |
GDS-234-11 |
|
303.0 |
|
303.9 |
|
0.9 |
|
1.74 |
GDS-234-11 |
|
307.0 |
|
308.0 |
|
1.0 |
|
2.75 |
GDS-234-11 |
|
308.0 |
|
309.0 |
|
1.0 |
|
1.87 |
GDS-234-11 |
|
312.0 |
|
313.0 |
|
1.0 |
|
1.24 |
GDS-235-11 |
|
139.5 |
|
140.5 |
|
1.0 |
|
2.32 |
GDS-235-11 |
|
196.5 |
|
197.5 |
|
1.0 |
|
6.36 |
GDS-235-11 |
|
223.8 |
|
224.8 |
|
1.0 |
|
2.75 |
GDS-235-11 |
|
276.0 |
|
277.0 |
|
1.0 |
|
1.17 |
GDS-235-11 |
|
288.5 |
|
289.5 |
|
1.0 |
|
1.37 |
GDS-235-11 |
|
305.0 |
|
306.0 |
|
1.0 |
|
1.92 |
GDS-235-11 |
|
357.0 |
|
358.0 |
|
1.0 |
|
16.61 |
GDS-235-11 |
|
386.0 |
|
387.0 |
|
1.0 |
|
30.76 |
GDS-235-11 |
|
387.0 |
|
388.0 |
|
1.0 |
|
29.92 |
GDS-235-11 |
|
404.0 |
|
405.0 |
|
1.0 |
|
2.25 |
GDS-235-11 |
|
427.0 |
|
428.0 |
|
1.0 |
|
1.01 |
GDS-239-11 |
|
74.0 |
|
75.0 |
|
1.0 |
|
4.30 |
GDS-239-11 |
|
299.0 |
|
300.0 |
|
1.0 |
|
2.34 |
GDS-239-11 |
|
377.0 |
|
377.5 |
|
0.5 |
|
1.02 |
GDS-239-11 |
|
423.0 |
|
424.0 |
|
1.0 |
|
1.44 |
GDS-241-11 |
|
436.0 |
|
437.0 |
|
1.0 |
|
3.31 |
Table 2: Diamond drill hole locations.
Drill hole |
UTM NAD83
z18 |
Azimuth |
Dip |
Length |
East |
North |
GDS-217-09 |
282458.165 |
5446703.57 |
305 |
-50 |
600 |
GDS-218-09 |
282903.648 |
5446706.9 |
330 |
-50 |
450 |
GDS-219-09 |
282819.451 |
5446653.2 |
330 |
-50 |
501 |
GDS-222-10 |
285387.432 |
5445996.81 |
30 |
-50 |
372 |
GDS-223-10 |
283948.271 |
5446777.52 |
30 |
-60 |
421 |
GDS-224-10 |
284190.306 |
5446143.42 |
25 |
-60 |
501 |
GDS-225-10 |
283903.218 |
5446676.22 |
30 |
-60 |
519 |
GDS-226-10 |
284264.481 |
5446297.59 |
25 |
-60 |
501 |
GDS-227-10 |
284002.836 |
5446210.91 |
25 |
-60 |
501 |
GDS-228-10 |
284095 |
5446390 |
25 |
-60 |
606 |
GDS-229-10 |
284088.882 |
5445958.29 |
25 |
-60 |
498 |
GDS-232-10 |
285274.648 |
5446785.9 |
30 |
-50 |
597 |
GDS-233-11 |
284095.996 |
5446385 |
205 |
-50 |
607 |
GDS-234-11 |
284124.999 |
5446477 |
205 |
-60 |
616 |
GDS-235-11 |
284269.036 |
5446282 |
295 |
-60 |
595 |
GDS-239-11 |
284095.996 |
5446385 |
105 |
-60 |
597 |
GDS-241-11 |
284547.996 |
5446434 |
205 |
-45 |
509 |
SOURCE Maudore Minerals Ltd.