MONTREAL,
May 26, 2014 /CNW Telbec/ -
Greg Struble, President and CEO of
Maudore Minerals Ltd. (MAO: TSX-Venture; MAOMF: US
OTC; M6L: Frankfurt Exchange) reports that Maudore's
subsidiary, Aurbec Mines Inc. (Aurbec) has returned more positive
results from its ongoing underground drilling program at the
Sleeping Giant Mine.
Aurbec's geology team has discovered three new
gold-bearing veins and continues to extend known high grade zones
and discover new gold-bearing veins at the high-grade Sleeping
Giant Mine. Many targeted areas have delivered promising
results. This press release includes drill results up to
April 11, 2014, which is the cut-off
date applied to a resource estimate update that is currently
underway.
Highlights from select diamond drill holes (DDH)
drilled from the 605m and 725m levels of the mine targeting
the 30FW (Footwall), 30 Shaft Shadow, 30 Ext W (Extension
West), 20, 8FW (Footwall) and 8 Zones include:
30 FW Vein:
- 39.90 g/t Au over 0.6 m in DDH 60-412-14 from 278.7
m
- 24.00 g/t Au over 1.0 m in DDH 72-421-13 from 299.9
m
- 22.85 g/t Au over 0.8 m in DDH 60-408-14 from 278.8
m
30 Shaft Shadow Zone:
- 109.81 g/t Au over 1.3 m in DDH 60-409-14 from 241.8
m
- 41.70 g/t Au over 0.8 m in DDH 60-407-14 from 249.0
m
- 14.80 g/t Au over 0.5 m in DDH 72-403-13 from 298.7
m
- 11.13 g/t Au over 0.6 m in DDH 60-408-14 from 255.8
m
- 7.90 g/t Au over 3.0 m in DDH 60-412-14 from 253.0
m
30 Ext W Vein:
- 122.00 g/t Au over 0.62 m in DDH 72-410-13 from 18.08
m
- 110.00 g/t Au over 0.8 m in DDH 72-427-13 from 47.3
m
- 94.80 g/t Au over 0.6 m in DDH 72-409-13 from 56.4
m
- 52.20 g/t Au over 1.0 m in DDH 72-419-13 from 5.2 m
- 38.30 g/t Au over 0.7 m in DDH 72-415-13 from 21.7
m
- 22.50 g/t Au over 1.0 m in DDH 72-417-13 from 13.1
m
- 19.84 g/t Au over 1.7 m in DDH 72-408-13 from 34.5
m
- 18.84 g/t Au over 1.6 m in DDH 72-413-13 from 13.5
m
- 14.30 g/t Au over 1.0 m in DDH 72-411-13 from 32.7
m
- 9.46 g/t Au over 1.0 m in DDH 72-418-13 from 8.3 m
- 8.11 g/t Au over 2.1 m in DDH 72-425-13 from 60.6 m
20 Vein:
- 37.70 g/t Au over 1.0 m in DDH 72-405-13 from 67.9
m
- 9.88 g/t Au over 0.6 m in DDH 72-428-13 from 61.0 m
- 8.10 g/t Au over 0.7 m in DDH 60-412-14 from 59.5 m
8FW Zone:
- 15.30 g/t Au over 0.8 m in DDH 60-412-14 from 13.5
m
- 7.38 g/t Au over 0.9 m in DDH 60-411-14 from 13.7 m
- 7.33 g/t Au over 0.9 m in DDH 60-414-14 from 13.6 m
- 6.38 g/t Au over 1.0 m in DDH 60-413-14 from 13.6 m
8 Zone:
- 27.50 g/t Au over 1.0 m in DDH 72-437-13 from 9.8 m
- 24.50 g/t Au over 0.9 m in DDH 72-429-13 from 6.5 m
- 23.90 g/t Au over 1.0 m in DDH 72-403-13 from 7.1 m
- 15.50 g/t Au over 0.6 m in DDH 72-430-13 from 10.4
m
- 14.50 g/t Au over 0.6 m in DDH 72-428-13 from 4.7 m
- 11.80 g/t Au over 1.0 m in DDH 72-422-13 from 5.9 m
The Sleeping Giant Mine has great potential for
new discoveries and extensions. For example, the 8 Zone is
virtually untested from the 485m level of the underground mine up
to the surface.
Deeper in the mine, underground drilling from
the 975 m level has targeted the 30W zone, 30 Shaft Shadow zone and
30 Ext E zone. New holes are currently in progress to verify
the south extensions of the 30W zone on 1060 m level. Here, 2
historic holes (97-229-10 and 97-230-10) drilled in 2010 showed
economic assay values a significant distance to the south of the
known 30W resource block. The holes that are in progress will test
the extension potential of this previously unmined structure at
Sleeping Giant. This is one of several new gold-bearing zones at
depth that have never been exploited at the Sleeping Giant
mine.
Aurbec has completed 122 underground diamond
drill holes for 20,073 m from August 7,
2013 to April 11, 2014.
The drill program is ongoing with the main objective being to
target high-grade mineable ounces to add to the mine plan.
Three underground drill rigs are currently drilling.
Aurbec also continues to mine remnant resources
where practical, and is preparing development according to a
revised mine plan to bring more primary stoping areas on line.
Mining is underway on the 725 m level (Stope 72-30-410) where the
first production stope has started in the 30 Ext W zone, an Aurbec
discovery and extension of the mine's historic high grade 30 zone.
Another mining success at the 1060 m level occurred when a primary
level access drift intersected the 30W vein for the first
time. Prior to this event, the 30W vein has only been seen in
drill core.
Underground drilling managed by Aurbec's
employees continues to discover, extend, and delineate many
high-grade gold bearing zones throughout existing development that
may someday add to the more than one million ounces already poured
at the Sleeping Giant Mine.
Maudore (Aurbec) has not based its decision to
conduct selective mining at Sleeping Giant on a feasibility study
or mineral reserves that demonstrate economic or technical
viability. Mining without feasibility studies or mineral
reserves increases the uncertainty of success and the risk of
failure if mining costs exceed revenue.
Qualified Persons and Quality Control and
Quality Assurance Protocols
Kevin R. Kivi,
P.Geo. of KIVI Geoscience Inc., who is Maudore's Chief Consulting
Geologist, approves the technical content of this press
release.
Valère Larouche, Ing., is on-site manager, and
Denis Desjardins, P.Geo., is
responsible for design and conduct of the exploration
program. Both geologists are employees of Aurbec and are not
independent of Maudore. Forages M. Rouillier Inc. is the
diamond drill contractor.
This press release reports un-cut core length
assays, not true width which can be calculated only once the angle
between the diamond drill hole and vein structure is established.
Appendix 1 tabulates significant assays (> 1.0 g/t Au) for
diamond drill holes reported herein.
Diamond drill core samples are split, with half
returned to the core box and the other half bagged, tagged and
submitted to Aurbec's on-site assay laboratory at the Sleeping
Giant Mine. Aurbec's laboratory is neither independent nor
accredited. Quality control and quality assurance protocols
include insertion of blanks, duplicates and standards to monitor
laboratory accuracy and precision. Aurbec also submits pulps
to AGAT Laboratories or ALS Global Geochemistry Laboratories for
independent and ISO accredited duplicate assays. Batches that
fail QA/QC protocol are rerun. Unaccredited assays are used in
weighted average calculations when an independent check assay is
not available.
AGAT Laboratories Ltd is certified to the ISO
9001 standard, and accredited with ISO/IEC 17025:2005, for specific
tests that conform to CAN-P-1579.
ALS Global Geochemistry laboratories are
registered with ISO 9001:2008 and accredited with ISO/IEC 17025 for
specific laboratory procedures.
About Maudore Minerals Ltd.
Maudore is a Québec-based junior gold
corporation 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 Corporation'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.
Appendix 1: Diamond drill table of
significant assays > 1.0 g/t Au (un-cut) from Sleeping Giant
underground drilling to April 11,
2014, the cut-off date for resources estimate update
underway.
Hole
Number |
From |
To |
Core
Width |
Sample
Number |
Gold Assay
Sleeping
Giant Lab
(Uncut) |
Gold Assay
AGAT Lab
(Uncut) |
Gold Assay
ALS
CHEMEX
Lab
(Uncut) |
Mineralized
Zone |
|
(m) |
(m) |
(m) |
|
grams/tonne |
grams/tonne |
grams/tonne |
|
60-407-14 |
13.20 |
14.00 |
0.80 |
P006799 |
3.72 |
6.15 |
|
8 FW |
60-407-14 |
50.20 |
51.20 |
1.00 |
P006804 |
2.53 |
|
|
20 |
60-407-14 |
52.60 |
53.40 |
0.80 |
P006807 |
3.05 |
|
|
20 |
60-407-14 |
249.00 |
249.80 |
0.80 |
P006817 |
61.94 |
41.70 |
|
30 Shadow |
60-407-14 |
252.10 |
252.90 |
0.80 |
P006823 |
6.51 |
|
|
30 FW |
60-408-14 |
54.00 |
54.80 |
0.80 |
P006843 |
1.58 |
|
|
20 |
60-408-14 |
55.80 |
56.70 |
0.90 |
P006845 |
8.4 |
|
|
20 |
60-408-14 |
254.30 |
255.30 |
1.00 |
P006856 |
2.16 |
2.74 |
|
30 Shadow |
60-408-14 |
255.80 |
256.40 |
0.60 |
P006858 |
12.42 |
11.13 |
|
30 Shadow |
60-408-14 |
278.80 |
279.60 |
0.80 |
P006864 |
23.82 |
22.85 |
|
30 FW |
60-409-14 |
12.80 |
13.70 |
0.90 |
P006873 |
6.68 |
|
|
8 FW |
60-409-14 |
48.00 |
49.00 |
1.00 |
P006880 |
8.18 |
|
|
20 |
60-409-14 |
49.50 |
50.50 |
1.00 |
P006882 |
6.69 |
|
|
20 |
60-409-14 |
241.80 |
242.60 |
0.80 |
P006890 |
181.66 |
177.00 |
|
30 Shadow |
60-409-14 |
242.60 |
243.10 |
0.50 |
P006892 |
2.03 |
2.32 |
|
30 Shadow |
60-410-14 |
13.20 |
14.20 |
1.00 |
P009004 |
3.95 |
4.49 |
|
8 FW |
60-410-14 |
50.30 |
51.30 |
1.00 |
P009010 |
3.76 |
|
|
20 |
60-410-14 |
51.30 |
52.30 |
1.00 |
P009011 |
2.41 |
|
|
20 |
60-410-14 |
241.20 |
242.10 |
0.90 |
P009016 |
2.2 |
|
|
30 Shadow |
60-410-14 |
273.35 |
274.15 |
0.80 |
P009018 |
1.09 |
|
|
30 FW |
60-411-14 |
13.70 |
14.60 |
0.90 |
P008872 |
8.71 |
7.38 |
|
8 FW |
60-411-14 |
57.50 |
58.40 |
0.90 |
P008881 |
7.44 |
|
|
20 |
60-411-14 |
248.80 |
249.60 |
0.80 |
P008949 |
1.09 |
|
|
30 Shadow |
60-412-14 |
13.50 |
14.30 |
0.80 |
P009305 |
18.35 |
15.30 |
|
8 FW |
60-412-14 |
59.50 |
60.20 |
0.70 |
P009318 |
9.42 |
8.10 |
|
20 |
60-412-14 |
72.90 |
73.80 |
0.90 |
P009320 |
1.02 |
|
|
20 |
60-412-14 |
253.00 |
253.70 |
0.70 |
P009372 |
6.9 |
4.80 |
|
30 Shadow |
60-412-14 |
253.70 |
254.50 |
0.80 |
P009373 |
2.4 |
2.61 |
|
30 Shadow |
60-412-14 |
255.20 |
256.00 |
0.80 |
P009375 |
24.48 |
22.80 |
|
30 Shadow |
60-412-14 |
278.70 |
279.30 |
0.60 |
P009380 |
38.27 |
39.90 |
|
30 FW |
60-413-14 |
13.60 |
14.60 |
1.00 |
P009053 |
7.33 |
6.38 |
|
8 FW |
60-413-14 |
55.00 |
56.00 |
1.00 |
P009063 |
2.48 |
|
|
20 |
60-413-14 |
67.65 |
68.45 |
0.80 |
P009065 |
1.08 |
|
|
20 |
60-414-14 |
13.60 |
14.50 |
0.90 |
P029018 |
8.25 |
7.33 |
|
8 FW |
60-414-14 |
56.80 |
57.60 |
0.80 |
P029026 |
4.17 |
|
|
20 |
60-414-14 |
59.20 |
60.20 |
1.00 |
P029029 |
8.93 |
|
|
20 |
60-414-14 |
60.20 |
61.00 |
0.80 |
P029031 |
3.27 |
|
|
20 |
72-402-13 |
261.20 |
262.20 |
1.00 |
P006037 |
4.44 |
4.07 |
|
30 Shadow |
72-402-13 |
262.20 |
263.00 |
0.80 |
P006039 |
3.12 |
3.10 |
|
30 Shadow |
72-402-13 |
319.20 |
320.20 |
1.00 |
P006042 |
4.95 |
5.92 |
|
30 FW |
72-402-13 |
320.80 |
321.50 |
0.70 |
P006044 |
2.13 |
2.07 |
|
30 FW |
72-403-13 |
7.10 |
8.10 |
1.00 |
P006067 |
21.04 |
23.90 |
|
8 |
72-403-13 |
71.70 |
72.50 |
0.80 |
P006084 |
4.71 |
|
|
20 |
72-403-13 |
298.70 |
299.20 |
0.50 |
P006130 |
15.25 |
14.80 |
|
30 Shadow |
72-403-13 |
326.15 |
326.65 |
0.50 |
P006134 |
2.30 |
|
|
30 FW |
72-404-13 |
0.00 |
0.70 |
0.70 |
P006230 |
1.35 |
1.73 |
|
8 |
72-404-13 |
0.70 |
1.30 |
0.60 |
P006231 |
2.10 |
1.79 |
|
8 |
72-404-13 |
1.30 |
2.30 |
1.00 |
P006232 |
3.18 |
2.96 |
|
8 |
72-404-13 |
58.00 |
58.50 |
0.50 |
P006242 |
1.72 |
|
|
20 |
72-404-13 |
270.60 |
271.50 |
0.90 |
P006361 |
5.12 |
5.50 |
|
30 Shadow |
72-404-13 |
272.50 |
273.50 |
1.00 |
P006363 |
7.20 |
7.83 |
|
30 Shadow |
72-404-13 |
322.60 |
323.50 |
0.90 |
P006373 |
1.31 |
|
|
30 FW |
72-405-13 |
6.90 |
7.90 |
1.00 |
P006154 |
3.28 |
3.24 |
|
8 |
72-405-13 |
67.90 |
68.90 |
1.00 |
P006172 |
38.87 |
37.70 |
|
20 |
72-405-13 |
267.80 |
268.40 |
0.60 |
P006202 |
1.11 |
1.45 |
|
30 Shadow |
72-405-13 |
268.40 |
269.30 |
0.90 |
P006203 |
3.00 |
3.35 |
|
30 Shadow |
72-405-13 |
314.50 |
315.50 |
1.00 |
P006210 |
4.55 |
3.75 |
|
30 FW |
72-406-13 |
71.20 |
72.20 |
1.00 |
P005815 |
6.08 |
4.94 |
|
30 Ext W |
72-406-13 |
72.20 |
72.70 |
0.50 |
P005817 |
5.00 |
5.69 |
|
30 Ext W |
72-407-13 |
19.85 |
20.75 |
0.90 |
P005918 |
4.34 |
4.13 |
|
30 Ext W |
72-407-13 |
23.70 |
24.30 |
0.60 |
P005924 |
4.00 |
|
|
30 Ext W |
72-408-13 |
34.50 |
35.40 |
0.90 |
P005907 |
29.05 |
28.80 |
|
30 Ext W |
72-408-13 |
35.40 |
36.20 |
0.80 |
P005908 |
9.00 |
9.78 |
|
30 Ext W |
72-409-13 |
56.40 |
57.00 |
0.60 |
P005938 |
92.81 |
94.80 |
|
30 Ext W |
72-410-13 |
18.08 |
18.70 |
0.62 |
P005902 |
95.24 |
122.00 |
|
30 Ext W |
72-411-13 |
32.70 |
33.70 |
1.00 |
P006294 |
15.71 |
14.30 |
|
30 Ext W |
72-412-13 |
8.80 |
9.70 |
0.90 |
P006998 |
5.52 |
5.39 |
|
30 Ext W |
72-413-13 |
13.50 |
14.30 |
0.80 |
P006917 |
29.87 |
31.90 |
|
30 Ext W |
72-413-13 |
14.30 |
15.10 |
0.80 |
P006918 |
6.49 |
5.79 |
|
30 Ext W |
72-414-13 |
23.20 |
23.80 |
0.60 |
P006940 |
2.01 |
1.91 |
|
30 Ext W |
72-415-13 |
21.70 |
22.40 |
0.70 |
P005841 |
35.14 |
38.30 |
|
30 Ext W |
72-416-13 |
11.00 |
11.60 |
0.60 |
P006324 |
2.53 |
|
|
30 Ext W |
72-416-13 |
17.30 |
17.90 |
0.60 |
P006329 |
4.41 |
4.07 |
|
30 Ext W |
72-417-13 |
13.10 |
14.10 |
1.00 |
P006336 |
25.83 |
22.50 |
|
30 Ext W |
72-418-13 |
8.30 |
9.30 |
1.00 |
P006313 |
10.55 |
9.46 |
|
30 Ext W |
72-419-13 |
4.60 |
5.20 |
0.60 |
P006298 |
1.31 |
0.90 |
|
30 Ext W |
72-419-13 |
5.20 |
6.20 |
1.00 |
P006299 |
44.35 |
52.20 |
|
30 Ext W |
72-419-13 |
12.60 |
13.50 |
0.90 |
P006304 |
2.22 |
1.76 |
|
30 Ext W |
72-419-13 |
13.50 |
14.00 |
0.50 |
P006305 |
3.86 |
6.76 |
|
30 Ext W |
72-420-13 |
7.90 |
8.90 |
1.00 |
P006926 |
1.80 |
1.49 |
|
30 Ext W |
72-421-13 |
0.00 |
0.70 |
0.70 |
P006378 |
5.73 |
6.94 |
|
8 |
72-421-13 |
245.40 |
245.90 |
0.50 |
P006462 |
4.07 |
3.99 |
|
30 Shadow |
72-421-13 |
299.90 |
300.90 |
1.00 |
P006466 |
22.32 |
24.00 |
|
30 FW |
72-421-13 |
301.60 |
302.60 |
1.00 |
P006468 |
2.85 |
|
|
30 FW |
72-422-13 |
5.90 |
6.90 |
1.00 |
P006497 |
10.96 |
11.80 |
|
8 |
72-422-13 |
262.60 |
263.60 |
1.00 |
P006531 |
2.04 |
|
|
30 Shadow |
72-422-13 |
312.00 |
312.60 |
0.60 |
P006546 |
3.89 |
3.75 |
|
30 FW |
72-423-13 |
35.90 |
36.60 |
0.70 |
P005874 |
1.58 |
1.49 |
|
30 Ext W |
72-423-13 |
44.60 |
45.60 |
1.00 |
P005879 |
1.47 |
|
|
30 Ext W |
72-424-13 |
51.60 |
52.50 |
0.90 |
P005861 |
2.50 |
2.18 |
|
30 Ext W |
72-425-13 |
60.60 |
61.10 |
0.50 |
P005899 |
8.45 |
9.98 |
|
30 Ext W |
72-425-13 |
61.10 |
61.90 |
0.80 |
P005900 |
1.56 |
1.26 |
|
30 Ext W |
72-425-13 |
61.90 |
62.70 |
0.80 |
P005651 |
14.44 |
13.80 |
|
30 Ext W |
72-427-13 |
47.30 |
48.10 |
0.80 |
P006909 |
77.67 |
110.00 |
|
30 Ext W |
72-427-13 |
48.10 |
48.70 |
0.60 |
P006911 |
1.87 |
1.84 |
|
30 Ext W |
72-428-13 |
4.70 |
5.30 |
0.60 |
P006945 |
12.77 |
14.50 |
|
8 |
72-428-13 |
61.00 |
61.60 |
0.60 |
P008007 |
11.06 |
9.88 |
|
20 |
72-429-13 |
6.50 |
7.40 |
0.90 |
P008031 |
23.30 |
24.50 |
|
8 |
72-430-13 |
10.40 |
11.00 |
0.60 |
P008078 |
15.56 |
15.50 |
|
8 |
72-431-13 |
10.10 |
11.00 |
0.90 |
P009776 |
4.09 |
6.82 |
|
8 |
72-431-13 |
71.70 |
72.50 |
0.80 |
P009803 |
1.08 |
|
|
20 |
72-432-13 |
4.30 |
4.80 |
0.50 |
P008125 |
1.03 |
|
|
8 |
72-436-13 |
9.90 |
10.90 |
1.00 |
P006627 |
4.46 |
|
|
8 |
72-436-13 |
65.90 |
66.90 |
1.00 |
P006640 |
2.16 |
2.24 |
|
20 |
72-437-13 |
9.80 |
10.80 |
1.00 |
P006608 |
41.44 |
27.50 |
|
8 |
72-438-14 |
80.20 |
80.90 |
0.70 |
P007841 |
2.84 |
4.41 |
|
30 Shadow |
72-438-14 |
82.50 |
83.50 |
1.00 |
P007842 |
4.56 |
4.71 |
|
30 Shadow |
72-439-14 |
64.20 |
64.80 |
0.60 |
P007816 |
6.02 |
6.30 |
|
30 Shadow |
SOURCE Maudore Minerals Ltd.