MPM/EWR discover gold-bearing shears at PowelMaple, East West discover gold-bearing shears at Powell
Maple Minerals Corp (TSX-V:MPM)
Shares Issued 29,867,423
Last Close 8/24/2005 $1.56
Thursday August 25 2005 - News Release
Also East West Resource Corp (TSX-V:EWR) News Release
Mr. L.M. Falzone of Maple Minerals reports
GOLD BEARING SHEARS DISCOVERED ON POWELL PROPERTY
Maple Minerals Corp. and East West Resource Corp.'s exploration of eight properties in the Shebandowan greenstone belt, 120 kilometres west of Thunder Bay, has been under way since 2003. In particular, prospecting in May and June of 2005 on the Powell property discovered several new gold showings, one of which assayed 8.58 grams of gold per tonne along with numerous other 0.5-gram to 6.5-gram-gold sample sites. In August, 2005, further prospecting yielded a surface grab sample of 17.2 grams of gold per tonne (.55 ounce gold per tonne).
Immediately following the May and June prospecting, line cutting (86 kilometres) and further prospecting-mapping were launched followed by an IP-resistivity survey on 100-metre lines. Numerous other rock samples subsequently returned 500-part-per-billion (0.5 gram) to 1,600-part-per-billion (1.6 grams) gold-per-tonne values that correlated with the IP anomalies that in turn reflect pyritized shear zones. Six main trends have been traced on the 4.8-kilometre-long grid with sections being 2,300 metres long and others 1,300 to 1,600 metres. These shears are contained in mafic (basalt) volcanics that extend southwest from the Ardeen gold mine (now under option to Maple and East West). The basalt pillow lavas and fragmentals have been intruded by quartz eye porphyry, feldspar porphyry and diorite. The gold-bearing shears in some cases follow the margin of the porphyry and in other cases large pink potassic alteration gold-bearing zones occur in a particular mafic fragmental unit. Carbonate-sericite alteration with pyrite and quartz is associated with the shear zones. Laminated silica with chlorite and pyrite is a distinctive feature of one lengthy zone (over 1,300 metres) where surface grab samples yielded 17.2 grams of gold per tonne (.55 ounce gold per tonne).
Silicified shears or silicified interflow fragmentals have yielded consistent values of 1.5 to 2.6 grams of gold per tonne over five-metre widths to date. Trenching of the original 8.58-gram-gold-per-tonne discovery site on a separate IP anomaly trend exposed a zone of silicification adjacent to sheared pillow lava. Gold values up to 6.5 grams of gold per tonne also occur in quartz veins and adjacent pyritized wall rock in the diorite intrusion. Quartz veining within the shears contain pyrite that has yielded four-gram gold values and quartz veins within the pink potassic alteration areas carry chalcopyrite and galena.
To date eight holes have been drilled on the Powell property in July with four of these creating a geological cross-section. Further drilling and trenching are planned to follow up on highly anomalous values found during recent mapping.
The Powell project has now yielded numerous gold occurrences on all six IP trends and four styles of mineralization have been found so far. Given the number of widespread anomalous new gold occurrences, the setting is ideal for the discovery of a shear hosted gold deposit.
All gold assays have been determined by fire assay with an AA finish at Accurassay in Thunder Bay, Ont., on 30-gram samples. Check assays are run on values exceeding four grams of gold per tonne.
The project is being supervised by R. Middleton, PEng, who is the qualified person and responsible for quality control of the assaying and reporting.