MPM begins West Porcupine drillingMaple Minerals et al. begin West Porcupine drilling
Maple Minerals Corp (TSX-V:MPM)
Shares Issued 31,288,133
Last Close 9/19/2005 $2.07
Tuesday September 20 2005 - News Release
Also Canadian Golden Dragon Resources Ltd (TSX-V:CGG) News Release
Also Maestro Ventures Ltd (TSX-V:MAP) News Release
Mr. Gino Falzone of Maple Minerals reports
DRILLING COMMENCES ON WEST PORCUPINE GOLD PROPERTY - TIMMINS, ONTARIO
Maple Minerals Corp. and partner Canadian Golden Dragon Resources Ltd. have been informed by Maestro Ventures Ltd. that a 1,000-metre drill program has commenced on the West Porcupine gold property, 34 kilometres southwest of Timmins, Ont. The property covers 10 miles of stratigraphy and structures that are similar to the Timmins (Porcupine) gold camp, where more than 70 million ounces of gold have been produced from 31 mines.
IP anomalies associated with interflow carbonate alteration and shear zones will be tested. In addition, a step-out drill hole from a 1994 discovery, where 0.195 ounce of gold per ton over 39 feet was recorded, will be completed. The geological setting of the western part of the property is similar to the Bell Creek gold mine, whereas the Deerfoot area in the central portion of the property is geologically similar to the McIntyre and Hollinger gold mines, due to the association with a large quartz eye porphyry containing molybdenum.
Maple and Dragon currently own 100 per cent of the property, subject to a 2-per-cent net smelter return royalty in favour of Newmont Canada Ltd. Maestro may earn a 50-per-cent interest in the property by carrying out acceptable assessment work on the property totalling $2.5-million in tranches over a five-year period. Upon earning its 50-per-cent interest, a joint venture will be formed and Maestro will be the initial operator.
The project set out above is being supervised by Robert S. Middleton, PEng, who is a qualified person.