2005 News Releases
Exploration Commences on Ardeen Gold-Base Metal Property
Airborne helicopter time domain EM survey in progress to locate VMS Cu-Zn-Ag-Au
Grids and IP surveys started for shear hosted gold
Geological mapping, lithochemical sampling and prospecting underway
Drilling of initial geological targets and showings
TORONTO, ONTARIO, July 6, 2005 – Maple Minerals Corp. ("Maple") (TSXV:MPM) and East West Resource Corporation (“East West”) (TSXV:EWR) are pleased to announce that a drill program to assess iron formation and shear hosted gold settings has commenced on the newly optioned Ardeen Property. Geological mapping is underway to identify gold shear hosted targets as well as locate base metal settings. An intense whole rock sampling program will be carried out to locate basemetal alteration patterns such as sodium depletion and magnesium footwall style alteration. A 120 km line grid at 100 m spacing will be cut in the southern half of the property to be used for geological mapping and an induced polarization survey. This data will be merged with previous surveys around the Ardeen Mine. A detailed time domain helicopter EM-magnetic (VTEM “dream catcher” system) survey will be completed at 100 m spacing to locate volcanogenic massive sulphides. The drilling emphasis will be initially to test gold targets but will continue on the Cu-Zn-Ag VMS targets as they develop. The property contains basalt-rhyolite contacts, rhyolite breccias and numerous sulphide showings that have not been explored for VMS copper-zinc-silver deposits.
Four gold zones occur on the common south boundary of the Ardeen claims and the Hamlin-Powell claim groups with assays from grab samples ranging from 1 gm gold/tonne to 21 gm gold/tonne. With this joint land package, grids and surveys can now trace all the shear zones for the first time. Grids will cover the Junction, Middle, West and North Zones. Drilling will initiate on the southwest extension of the west zone, which contains iron formation and parallel shears where grab samples of 27.1 grams gold/tonne have been obtained. Known targets on the Junction Zone will also be drilled.
Other parts of this extensive 14 km long property will be explored after the airborne data has been received in final form and interpreted. The Ardeen Mine is situated in a particular basalt volcanic unit which contains sheared and iron carbonate (ankerite) alteration similar to Timmins (Porcupine) and Red Lake gold deposits. The extension of the Mine will be carefully examined including parallel zones.
The occurrence of the Vanguard VMS copper-zinc-silver-gold zones as well as the former Cu-Ag-Au producer North Coldstream Mine to the northeast of the Ardeen property and fold structures, suggests that the key basemetal horizons pass through the Ardeen property to the south and then continue through the Hamlin and Deaty properties to the Sungold claims to the south where Freewest Resources has announced an important copper-zinc base metal discovery.
Maple and East West have acquired an option to acquire up to a 60% interest in the Ardeen Property. Reference is made to the Maple press release dated June 8, 2005. The project is being supervised by R. Middleton, P. Eng. who is the qualified person and responsible for quality control of the assaying and reporting.
Maple is a Toronto based resource company with property interests in Australia, Mongolia, Argentina, 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