2003 News Releases
New Gold Showings On Powell, Hamlin-Shear, And Clay Properties Shebandowan Belt, Thunder Bay, Ontario
June 23, 2003
Maple Minerals Corp. and East West Resource Corporation have been carrying out a regional prospecting and geology reconnaissance program on the 50-50 held Hamlin-Shear, Powell and Clay properties since mid April and have identified a number of areas of ineralization that have potential for shear hosted and porphyry style gold deposits.
Assays received to date from random sampling suggest there are areas to concentrate more detailed sampling. Progress reports on these areas will be issued once assays are available.
On Powell a 60 m wide area of intense shearing with other parallel shears has yielded 2.09 gm gold from grab samples along with other 0.43 – 1.98 gm gold values. Previous work had cut 6.6 grams gold over 1.5 m from one of these shears. A grid will be cut in this area to allow for geophysics to trace the pyritebearing sericite carbonate zones which will in turn locate drill and trench sites.
New clear cut logging on the Hamlin claims has exposed a 100 m wide zone of disseminated pyrite-sericite alteration, with a flanking pink potassic (margin) alteration zone. Grab samples assaying 1.38 grams were obtained from this margin zone which had never been previously sampled. A single sample from the sericitic pyrite zone assayed 2.54 grams. With this new exposure it is now possible to do continuous sampling across the zone on surface and map along strike for approximately 400 m.
It appears that a regional structure associated with this zone crosses the Hamlin property and extends southwest onto part of the Powell and Clay claim groups for a total length of 14.5 km. Parallel structures also occur. One showing on the Clay group has yielded 9.2 ounces (306 grams) from a narrow 5 cm quartz vein that is situated on this main shear system 4.5 km south west of the new Hamlin property showings (mndm files). It has been concluded from the evidence so far that there is potential for high grade sections to occur within the shear structures on the property as well as wider areas on surface with lower grade 1 – 2.5 gram values. Both styles will be targets in the follow up trenching, geophysics and drill programs.
On the Shear property a 3.52 gram grab sample was obtained from pyrite filled fractures that extend northeastward from the Snodgrass gold deposit which was drilled in the 1980’s and reported to contain 65 million tons of 0.032 ounces gold (mndm files). This sericite-carbonate chlorite alteration system is hosted in similar rocks that occur on the Hamlin and Powell properties.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Maple’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Maple disclaims any intent or obligation to update these forward-looking statements.
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L.M. (Gino) Falzone