NEWSMaple Minerals partner drills Mt. Kakoulima south grid
Maple Minerals Corp (TSX-V:MPM)
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Tuesday May 31 2005 - News Release
Mr. L.M. Falzone reports
MT. KAKOULIMA NICKEL PROJECT - PHASE 3 DRILLING UPDATE
Maple Minerals Corp. has been advised by FNX Mining Company Inc. that drilling on the south grid as part of the Mount Kakoulima phase 3 exploration program has been completed. The objective of the south grid drilling was to establish the geometry of the basal contact of the Kaloum igneous complex (KIC) and further explore for Ni-Cu-PGE (platinum group elements) sulphide mineralization. Drill targets were designed as a follow-up to the two holes (AF0014 and AF0015) drilled on the south grid during the phase 2 program in late 2004 that intersected disseminated sulphides. Drill holes AF0016, 17, 18, 19 and 20 all intersected the KIC basal contact and all intersected disseminated pyrrhotite (give or take) chalcopyrite (give or take) pentlandite (give or take) pyrite sulphides at or within a few metres of the contact. Assays are pending. A crone geophysics geophysical technician is on site and completed pulse EM borehole surveys as each hole was completed. A total of 2,456.5 metres was drilled on the south grid. The balance of the budgeted 5,000 metres for the phase 3 drill program will be completed along the north side of the KIC basal contact to follow up on drill targets generated as a result of the phase 2 program.
The drill has now been moved to an area between the west and north grids to test a target that may represent a large block in an embayment-like feature at the base of the KIC, and interpreted from historical surface geophysics and 2004 drilling. These types of basal irregularities are consistent with those that can host economic concentrations of Ni-Cu-PGE sulphide mineralization. Depending on results, drilling will continue from areas to the east along the contact to test targets generated during 2004 exploration for the remainder of the program.
The KIC is approximately 60 kilometres long, and the existing property licence covers 30 kilometres of this contact on both north and south margins. Phases 1 and 2 of the exploration program, completed in 2004, were successful in defining and confirming the initial concept that the KIC is a funnel-shaped intrusion. Drilling in phase 2 also confirmed that sulphide mineralizing processes were active at the base of the KIC, a position favourable for the economic concentration of Ni-Cu-PGE sulphides. Assays showed these pyrrhotite-rich sulphides to be nickel and copper bearing. Drilling by Semafo/Afcan from 1996-1998 intersected a one-metre-thick horizon of massive sulphide in the upper gabbro unit of the KIC with average grades of 3.6 per cent nickel, 1.1 per cent copper, 0.15 per cent cobalt and three grams per tonne platinum-plus-palladium-plus-gold.
Dr. Catharine Farrow, PGeo (chief geologist, FNX), is acting as the qualified person for the Mt. Kakoulima project.