2005 News Releases
Gold Bearing Shear Discovered on Powell Property
August 25, 2005
Assays of 17.2 g gold/tonne (.55 oz gold/tonne) in grab samples of silicified shear
Six new IP zones 1,300 – 2,300 m long with correlating gold values
Trenching follow-up to IP survey in progress
Eight drill hole program completed, assays pending
TORONTO, ONTARIO, August 25, 2005 – Maple Minerals Corp. ("Maple") (MPM:TSX-V) and East West Resource Corporation (“East West”) (EWR:TSX-V) report that exploration of 8 properties in Shebandowan greenstone belt, 120 km west of Thunder Bay, has been underway since 2003. In particular, prospecting in May-June 2005 on the Powell property discovered several new gold showings, one of which assayed 8.58 g gold/tonne along with numerous other 0.5 g – 6.5 g gold sample sites. In August 2005, further prospecting yielded a surface grab sample of 17.2 g gold/tonne (.55 oz gold/tonne).
Immediately following the May-June prospecting, line cutting (86 km) and further prospecting–mapping was launched followed by an IP-resistivity survey on 100 m lines. Numerous other rock samples subsequently returned 500 ppb (0.5 g) to 1600 ppb (1.6 g) gold/tonne values that correlated with the IP anomalies that in turn reflect pyritized shear zones. Six main trends have been traced on the 4.8 km long grid with sections being 2300 m long and others 1,300 – 1,600 m. These shears are contained in mafic (basalt) volcanics that extend south west from the Ardeen gold Mine (now under option to Maple and East West).
The basalt pillow lavas and fragmentals have been intruded by quartz eye porphyry, feldspar porphyry and diorite. The gold bearing shears in some cases follow the margin of the porphyry and in other cases large pink potassic alteration gold bearing zones occur in a particular mafic fragmental unit. Carbonate-sericite alteration with pyrite and quartz is associated with the shear zones. Laminated silica with chlorite and pyrite is a distinctive feature of one lengthy zone (over 1,300 m) where surface grab samples yielded 17.2 g
gold/tonne (.55 oz gold/tonne).
Silicified shears or silicified interflow fragmentals have yielded consistent values of 1.5 – 2.6 g gold/tonne over 5 m widths to date. Trenching of the original 8.58 g gold/tonne discovery site on a separate IP anomaly trend exposed a zone of silicification adjacent to sheared pillow lava. Gold values up to 6.5 g gold/tonne also occur in quartz veins and adjacent pyritized wall rock in the diorite intrusion. Quartz veining within the shears contain pyrite that have yielded 4 g gold values and quartz veins within the pink potassic alteration areas carry chalcopyrite and galena.
To date 8 holes have been drilled on the Powell property in July with four of these creating a geological cross section. Further drilling and trenching is planned to follow up on highly anomalous values found during recent mapping.
The Powell project has now yielded numerous gold occurences on all six IP trends and four styles of mineralization have been found so far. Given the number of widespread anomalous new gold occurrences, the setting is ideal for the discovery of a shear hosted gold deposit.
All gold assays have been determined by fire assay with an AA finish at Accurassay in Thunder Bay, Ontario on 30 g samples. Check assays are run on values exceeding 4 g gold/tonne.
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 an international 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