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On behalf of François Viens, please find attached the latest press release from Maximus Ventures Ltd. dated December 14, 2007.
Should you have any questions, please feel free to contact Mr. Viens at fviens@maximusventures.com.
Sincerely,
PRESS RELEASE / DATED December 14, 2007
Maximus Confirms Gold and Silver-rich Zone at Hope Bay, Nunavut
Longueuil, Quebec: December 14, 2007. Maximus Ventures Ltd. (?Maximus?) (TSX Venture Exchange: MXV) is pleased to announced today the final assay results from its 2007 drilling program at Hope Bay Project, located in Nunavut, Canada. The 2007 drill program was focused on the Chicago area and tested the extension and continuity of the extensive gold-silver mineralized zone previously encountered in holes #6, #10 and #12. As previously reported, these holes all intersected highly anomalous gold and silver values over long intervals (such as hole #6: 0.19 g/t Au and 6.7 g/t Ag over 108 m; #10: 0.46 g/t Au and 6.7 g/t Ag over 82 m; #12: 0.14 g/t Au and 4.3 g/t Ag over 110 m) over long intervals in chloritized felsic volcanics with up to 15% pyrite in stringers (see June 28, 2007 press release).
Follow-up holes #14A and #15 were drilled respectively 100m north of holes #6 and #10 and 200 m south of hole #12 (see attached figure). Both holes cut chloritized and/or sericitized felsic rocks with locally up to 10% pyrite. Hole #14A returned 31 m grading 0.17 g/t Au and 8.0 g/t Ag and hole #15 intersected 82 m grading 0.15 g/t Au and 3.2 g/t Ag. Both of these holes confirm the thickness and continuity of the broad zone of anomalous gold and silver values. Highlights of the most significant 2007 results are presented below.
Highlights of 2007 assay results - Hope Bay Project
Hole
From
(m)§
To
(m)§
Length
(m)§
Au
(g/t)§
Ag
(g/t)
#6*
(re-sampling)§
1.8§
36.5§
34.8§
0.21§
5.3
Including§
3.0§
4.5§
1.5§
1.17§
11.0§
136.5§
244.0§
107.5§
0.19§
6.7
Including§
150.0§
150.8§
0.8§
2.24§
10.0
Including§
167.8§
168.3§
0.5§
1.12§
67.4§
#10*§
36.5§
118.9§
82.4§
0.46§
6.7
Including§
102.5§
104.0§
1.5§
9.79§
10.3§
108.5§
110.0§
1.5§
4.60§
15.7§
#12*§
116.8§
227.0§
110.2§
0.14§
4.3
Including§
120.4§
121.3§
0.9§
1.17§
48.1
Including§
162.0§
162.8§
0.8§
1.10§
22.2§
#14A§
198.1§
229.0§
30.9§
0.17§
8.0
Including§
198.1§
199.0§
0.9§
1.41§
2.4
Including§
213.0§
214.0§
1.0§
1.23§
32.4§
#15§
153.0§
235.3§
82.3§
0.15§
3.2
Including§
193.4§
194.0§
0.6§
5.80§
2.9§
§
Hole # 11, 13, 16, 17, 18, 19: No significant assay
* Previously reported
Note: Silver assay results for holes #18 and #19 are still pending
The principal target at Chicago is a Volcanogenic Massive Sulfides (?VMS?) style gold-silver deposit. The geological context and distribution of the alteration is typical of a VMS setting such as the Bousquet deposit in the Larder Lake-Val d?Or region of eastern Canada. Interpretation of the results obtained to date indicates that the gold anomalous alteration system is 100 to 175 m wide and plunges at 15° southeasterly at an azimuth of 170°. Its extension is believed to intersect the contact between mafic and felsic rocks some 200 m south of hole #15 (which intersected 82 m @ 0.15 g/t Au and 3.2 g/t Ag), at a vertical depth of approximately 150-200 metres.
?The presence of this wide zone of gold and silver Mineralization with local high-grade gold values is potentially very significant said Francois Viens, President and CEO of Maximus. ?The mineralization is open to the south and at depth and requires additional drilling to test the intersection between the gold-mineralized zone and the favourable felsic/mafic volcanic contact where higher concentrations of sulfides and associated gold are typically found.?.
Hole #16 drilled 2.5 km northeast of holes #6 and #10 tested the depth extension of a high-grade gold bearing quartz vein located on surface (Hammerhead showing). Neither the vein nor significant other mineralization were intersected suggesting that the vein system has very little extension below surface.
2008 Work Program
A 2,700 metres drilling program is being planned for Hope Bay in 2008. It would test gold mineralization targets in the Twin Peaks/Discovery area (1,900 metres of drilling) located close to Miramar's Madrid and Doris deposits holding Indicated resources of 4.4 million ounces of gold and additional Inferred resources of 4.7 million ounces of gold. This area hosts numerous gold showings that lie within zones of strong iron-carbonatization and/or silicification and associated with major and subsidiary faults within corridors of high strain or strong foliation. Gold mineralization accompanied by anomalous silver, copper, lead and zinc values, occurs in quartz-carbonate veins, along structures located in highly altered rock. The Twin Peaks/Discovery area has good potential for large tonnage gold deposits such as those located in the Porcupine or Kirkland Lake mining camps.
In addition, a total of 800 metres of drilling is proposed in the Chicago area to test for a gold-rich VMS-type target located at the locus of intersection between the altered Au-anomalous zone and favourable geological contacts (see figure).
Hope Bay Property
The Hope Bay Project consists of two separate groups of claims totalling 114 square km located in the Hope Bay gold Belt in Nunavut. Maximus has the option to earn a 75% joint venture interest with Miramar Mining Corporation by spending cumulative exploration expenditures of $7.25 million by October 31, 2009. Newmont Mining has recently made an offer to acquire Miramar. The offer is valid until December 21, 2007 and if the purchase is completed, Newmont will assume Miramar?s role and obligations under the agreement with Maximus. Miramar is working on various solutions to reduce the extensive time required to receive assay results from the laboratories and has recently ordered equipment for a site based sample preparation facility for use in 2008.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
The technical information in this release was prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed by Bernard Boily, P. Geo. and Exploration Manager for Maximus. The analytical method for gold is by gravimetric assay, with metallic screen assays for all samples assaying over 20 grams per tonnes (g/t) gold. The analytical method for silver is done by mass spectrometer and atomic emission spectrometer (AES) multi-element ICP (Inductively Coupled Plasma). Any silver values reporting greater than 100 grams per ton (g/t) are re-analyzed and finished by atomic absorption method complete with appropriate standards. Assaying is done by TSL Laboratories of Saskatoon, Saskatchewan.
Check assays are completed by ACME laboratories from Vancouver. Blank samples and standards with known amounts of metal were submitted as part of the quality control process.
Forward-looking Statements
This release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", and "intend" and statements that an event or result "may", "will", "can", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current internal projections, expectations or beliefs of the Company based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
For further information, please contact:
François Viens
President
Maximus Ventures Ltd.
Telephone: (450) 677-1009
Facsimile: (450) 677-2601
www.maximusventures.com
A map of the 2007 drill location is available at the following address: http://www.maximusventures.com/i/pdf/12_14_07_map.pdf
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