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.