2005 News Releases
Mt. Kakoulima Nickel Project - Phase 3 Drilling Update
TORONTO, ONTARIO, May 31, 2005 – Maple Minerals Corp. ("Maple") (TSXV:MPM) has been advised by FNX Mining Company Inc. (“FNX”) that drilling on the South Grid as part of the Mount Kakoulima Phase 3 exploration programme has been completed. The objective of the South Grid 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. Drill targets were designed as a follow-up to the two holes (AF0014 and AF0015) drilled on the South Grid during the Phase 2 programme in late 2004 that intersected disseminated sulphides. 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. Assays are pending. A Crone Geophysics geophysical technician is on site and completed pulse EM borehole surveys as each hole was completed. A total of 2456.5 m was drilled on the South Grid. The balance of the budgeted 5000 m for the Phase 3 drill programme will be completed along the North side of the KIC basal contact to follow-up on drill targets generated as a result of the Phase 2 programme.
The drill has now been moved to a set-up between the West and North grids to test a target that may represent a large block in an embayment-like feature at the base of the KIC, and interpreted from historical surface geophysics and 2004 drilling. These types of basal irregularities are consistent with those that can host economic concentrations of Ni-Cu-PGE sulphide mineralization. Depending on results, drilling will continue from set-ups to the east along the contact to test targets generated during 2004 exploration for the remainder of the programme.
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 KIC is a funnel-shaped intrusion. Drilling in Phase 2 also confirmed that sulphide mineralizing processes were active at 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. 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, Africa and Canada. For more information about Maple, please visit the company’s website at
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