2005 News Releases
Mt. Kakoulima Nickel Project, Guinea, West Africa, Phase 3 Drilling Completed
TORONTO, ONTARIO, September 15, 2005 – Maple Minerals Corp. ("Maple") (TSXV:MPM) has been advised by FNX Mining Company Inc. (“FNX”) that the Mount Kakoulima Phase 3 exploration drill programme has been completed. The objective of the drilling was to establish the geometry of the basal contact of the Kaloum Igneous Complex (KIC) and further explore for Ni-Cu-PGE sulphide mineralization in the vicinity of basal irregularities that are consistent with those that can host economic concentrations of Ni-Cu-PGE sulphide mineralization. Drill targets were designed as a follow-up to holes drilled during the Phase 2 programme in late 2004 that intersected disseminated sulphides on both South (DDH AF0014 and AF0015) and North Grids (DDH AF0007 through AF0012), where disseminated sulphide mineralization was intersected at the base of the intrusion over a 1.6 km strike length. A total of 4476 m was drilled during the Phase 3 programme, and included 5 holes on the South Grid, 3 on the North Grid and a total of 152 samples for assay. Drill holes AF0016, 17, 18, 19 and 20 all intersected the KIC basal contact and all intersected disseminated pyrrhotite ± chalcopyrite ± pentlandite ± pyrite sulphides at or within a few metres of the contact on the South Grid. This brought the distance between drill sections on the South Grid to approximately 2.5 km. Assay results for AF0017 were encouraging, with high metal tenors for the disseminated sulphide. Significant intersections in pyroxenite occurred approximately 210 m and 130 m above the KIC basal contact as follows:
From 168.5-173.4 m (4.9 m) @ 1.23% S, 0.18% Ni, 0.38% Cu, 1.05 g/t Pt+Pd+Au (0.22 g/t Pt, 0.78 g/t Pd); and
From 241.8-256.5 m (14.7 m) @ 1.49% S, 0.35% Ni, 0.39% Cu, 0.99 g/t Pt+Pd+Au (0.17 g/t Pt, 0.77 g/t Pd).
On the North Grid holes AF0021, AF0022 and AF0023 intersected disseminated sulphides, with up to 4% pyrrhotite + chalcopyrite in AF0022. The resulting assay yielded 0.30% S, 0.09% Ni, 0.13% Cu and 0.5 g/t Pt+Pd+Au over 0.45 m (from 34.15 m to 34.6 m depth), again reflecting high metal tenors for the disseminated sulphide. The resulting Phase 3 drilling on the North Grid reduced the distance between drill sections to between 500 and 1000 m.
A Crone Geophysics geophysical technician was on site for the duration of the Phase 3 programme and completed pulse EM borehole surveys as each hole was completed so that the programme could be adapted to test apparent anomalies as soon as possible.
The KIC is approximately 60 km long, and the existing property licence covers 30 km of this contact on both north and south margins. Phases 1 and 2 of the exploration programme, completed in 2004, were successful in defining and confirming the initial concept that the basal contact of the KIC dips into the centre with variable steepness. Drilling in both Phases 2 and 3 confirmed that sulphide mineralizing processes were active at or near the base of the KIC, a position favourable for the economic concentration of Ni-Cu-PGE sulphides. Assays showed these pyrrhotite-rich sulphides to be Ni- and Cu-bearing, and not barren. Drilling by Semafo/Afcan from 1996-1998 intersected a 1 metre thick horizon of massive sulphide in the upper gabbro unit of the KIC with average grades of 3.6% Ni, 1.1% Cu, 0.15% Co and 3 g/t Pt+Pd+Au.
Catharine Farrow, PhD, PGeo (Chief Geologist, FNX) is acting as the Qualified Person for the Mt. Kakoulima project.
Maple is a Toronto based resource company with property interests in Australia, Argentina, Mongolia, Africa 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 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 and cautions investors from placing undue reliance on forward-looking statements. Maple does have an ongoing obligation to disclose material information as it becomes available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
L.M. (Gino) Falzone