2003 News Releases
Hamlin Copper And Shear Gold Properties Acquired Burchell Lake Area, Thunder Bay
March 6, 2003
Gold assays of 6 – 34 grams on Shear zone extension of a large deposit
Copper assays of 2% in surface showings with near by EM targets
A 100% interest in two claim groups consisting of 77 units (Hamlin) and 14 units (Shear) have been jointly acquired by Maple Minerals Corp. (YMP) and East West Resource Corporation (EWR) for a $13,000 initial payment and $75,000 in additional staged option payments over 5 years and issuance of 100,000 shares of East West. The Hamlin 45 units cover a 4 km extension of a rhyolite-basalt volcanic contact that is the west ward extension of the Deaty base metal stratigraphy and where a number of copper showings containing grab samples of over 2% copper have been located north of Hamlin Lake. Two gold showings hosted in sheared rhyolite volcanics assaying 14gm Au/ 0.5 m and the extension of a zone assaying 27.7 g/t Au from grab samples have also been located by previous prospecting along the north boundary. However ground geophysical surveys have not been utilized to trace these particular zones. Mapping suggests that the controlling shears extend the length of the property. EM conductors from a previous airborne survey correlate with the gold and copper showing areas and suggest the presence of other unlocated zones. Breccia zones with chlorite alteration has been found on the adjoining Deaty property suggesting the proximity to vent areas, a favourable location for gold bearing VMS Cu-Zn-Ag massive sulphides.
The Hamlin claims adjoin the north side of the Freewest Resources property where assays of up to 2.3 ounces over 5 m have been reported from sheared silicified rhyolite.
The 14 Shear claim units are located on the north boundary of the Moss Lake 65 million ton gold deposit assaying approximately 1 gram as well as being adjacent to claims held by Inco. Assays of 6.6 grams Au/2 m and 34.2 grams Au have been obtained from silicified zones on the shear claims near the control structures that extend north from the Moss Lake Zone (mndm files).
The Vendors retain a 2.0 % NSR, where 1.0 % may be purchased at any time for $1 million and a first right of refusal to purchase the remaining 1%. Geophysical surveys, mapping and sampling followed by drilling are planned to start in February.
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