2004 News Releases
Update on Mt. Kakoulima Nickel Property
TORONTO, ONTARIO, May 12, 2004 – Maple Minerals Corp. ("Maple") (TSXV:MPM) has been advised by FNX Mining Company Inc. (“FNX”) that line cutting, moving loop EM surveying and geological mapping has been completed on the Mt. Kakoulima project in Guinea, West Africa in preparation for a 5000 m drill program.
The moving loop electromagnetic survey was conducted across 10 profiles that crossed the interpreted basal contact of the Kaloum Igneous Complex (KIC). The survey was designed to penetrate the moderately conductive overburden and to explore potential nickel sulphide targets at the KIC contact. A number of weakly conductive responses were observed, many coincident with the interpreted position of the contact. Drilling will commence after the rainy season in October on the east side of the North grid as this area of the Kaloum Igneous Complex (KIC) contact corresponds with the most mineralized float and the best geophysical anomalies encountered to date, and it is at the base of the stratigraphy that hosts the
mineralization discovered by Afcan-Semafo in 1997. It will begin with a fan of holes to determine the dip of the contact, the nature of the intrusion at the base and to test the geophysical responses. Later in the program, drilling will continue on the North and West grid to evaluate the consistency (or variability) of the basal contact of the igneous complex.
Mr. Gino Falzone, President of Maple Minerals, has stated “we are excited about the progress of the Kakoulima project. The FNX team has taken a methodical and thorough approach to the project.”
Catharine Farrow, PhD, PGeo (Chief Geologist, FNX) has acted as the Qualified Person for the Mt. Kakoulima project.
In other news, Maple has retained TheStreetIR to provide investor relations services. TheStreetIR has been providing investor relation services to public companies for many years. The agreement with TheStreetIR calls for a monthly retainer and the granting of 140,000 options with a three year term and exercisable at $0.70 per share, such options vesting as to 10,000 per month.
Maple is a Toronto based resource company with properties in Africa, the Dominican Republic and Canada. For more information about Maple, please visit the company’s website at www.mapleminerals.com.
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 dif fer 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 has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
Major Account Executive