Maximus, NFX drill seven m of 0.6 g/t Au on Larder Lake
2007-04-27 12:23 ET - News Release
See News Release (C-MXV) Maximus Ventures Ltd
Mr. Francois Viens of Maximus reports
MAXIMUS IDENTIFIES A NEW MINERALIZED ZONE AT NFX'S LARDER LAKE PROPERTY
Maximus Ventures Ltd. and NFX Gold Inc. are releasing the first drilling results from the 2007 drilling program at the Larder Lake project, located in Ontario, Canada. The Larder Lake project consists of the Cheminis, Bear Lake and Fernland properties (all 100 per cent NFX owned) and the Barber Larder property (75 per cent NFX owned). Under the option and joint venture agreement between Maximus and NFX signed March 3, 2006, Maximus acquired the right to earn a 60-per-cent interest in NFX's interest at the Larder Lake project by expending $6-million on exploration by Dec. 31, 2008. The Larder Lake project is located in Eastern Ontario along the Larder Lake break, a 200-kilometre-long east-west zone of faulting that hosts numerous world-class gold mines.
The first four diamond drill holes encountered a new mineralized zone in an area located approximately 3.5 km west of the old Kerr Addison mine. Holes NFX-07-1 to NFX-07-4, totalling 1,596 metres, all intercepted a steeply dipping mineralized zone consisting of a unit of flow-type mineralization adjacent to a unit of green carbonate-type mineralization typical of the Kerr Addison mine. The thickness of the zone varies from 10 m to 60 m and it was intercepted at depths varying from 100 m to 500 m from surface over a strike length of 400 m. Although the grades encountered are not yet economic, the presence of highly anomalous gold values within favourable altered geological units indicates that the potential for higher-grade mineralization along strike or at depth is promising. "The size and consistency of this new mineralized zone confirm our interpretation that parallel mineralized trends do occur west of Kerr Addison," says Francois Viens, president and chief executive officer of Maximus. "The strong presence of gold indicates a significant mineralization system within this unit still open on all its extensions and at depth." Maximus plans additional study and analysis of the diamond drill core to identify a possible vector of increased gold mineralization. Results from the first four holes are presented in the accompanying table.
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