2003 News Releases
West Porcupine Gold Exploration Program Drilling To Commence Timmins, Ontario
March 24, 2003
Maple Minerals Corp. and Canadian Golden Dragon Resources Ltd. are pleased to announce that an initial 600 m two hole drill program has commenced on the West Porcupine property located 34 miles (54 Km) south west of Timmins. The companies had initiated exploration on the west extension of the Porcupine Gold Camp in 1986 and have traced the Destor Porcupine Fault (DPF) through the property. The DPF is considered to be the main control of gold mineralization in the Porcupine Camp which has produced over 70 million ounces of gold since 1909 from 31 mines. A gold discovery made on the property in the fall of 1994 yielded 0.195 ounces gold over 39 feet incl. 1.27 oz (43.04 g) over 1.5 m ( 5 feet) at a depth of 210 m vertically below surface in hole 94-18. The host was a wide silicified zone with abundant disseminated pyrite. Another hole 95-23 in 150 m beneath the discovery hole intersected 20.4 g/1.8m (0.6 oz Au/6 ft.). Another hole 94-13 400 m west of 94-18 intersected 21 g/1.3 m (0.6 oz/4.1 ft.). The two new 2003 holes are designed to intersect the zone 950 m above and below hole of 94-18 to help determine the plunge of the system.
The host rocks for the gold are basalts and Komatiitic volcanics with a large quartz eye porphyry and the zone sits on the Destor Porcupine Fault. This geological setting is similar to that of the Hollinger mine in Timmins where over 20 million ounces were produced.
All weather road access makes it easy to bring the drill to the property.
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