2003 News Releases
Obadinaw Gold Property Acquired Shebandowan Belt, Thunder Bay, Ontario
October 10, 2003
Maple Minerals Corp. (“Maple”) and East West Resource Corporation (“East West”) are pleased to announce that they have staked a 234 claim unit property on a 50-50 basis that covers a 8 km long north east extension of a series of shear zones that continue from the La Rose gold occurrence in Moss Twp. recently optioned by Freewest Resources. The Obadinaw claim group covers sheared and altered meta sediments as well as felsic intrusions (porphyry, syenite porphyry) that are similar to the rocks hosting a new gold discovery on the La Rose property. Assays released by Freewest on August 20, 2003 gave values ranging
from 1.02 gm/tonne (.03 ounce gold) to 371.99 gm/tonne (10.85 ounces gold) from 25 grab samples with an average of 27.7 gm/tonne (.81/ounces gold) or 9.66 gm/tonne (.28 ounces gold) if all high assays are cut to 30 gm/tonne.
The Obadinaw property also covers a 4-5 km section of the Boundary Fault which parallels the structure associated with the La Rose showing and is adjacent to structures that are associated with gold zones at the Ardeen Mine where five zones of gold mineralization occur including a deposit of 1.0 million tonnes grading 14 gm gold/tonne (mndm files). The Shebandowan greenstone belt hosts the Snodgrass (65 million tonnes) gold deposit grading 0.032 ounces gold on the Moss Lake property. Drilling of extensions of this deposit are currently underway by Moss Lake Gold Mines. Three new discoveries have been made in the Shebandowan area in the past 12 months, namely the SunGold, La Rose and Canadian Golden Dragon Vanguard Extension illustrating that the Shebandowan Belt is highly prospective. With new roads and exposure by clear cut logging, the opportunity has been increased to make new gold discoveries.
Hamlin, Powell, Clay, and Shear where mapping and prospecting over this past summer has yielded up to 2.5 grams gold/tonne from newly exposed outcrops containing zones of shearing and sericite quartz pyrite alteration that are part of a shear structure containing narrow zones of up to 9 ounces gold (mndm files). Several gold bearing structures traverse these properties and will be subject to further detailed investigation.”
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.
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.
L.M. (Gino) Falzone