Diamond Drilling Begins At Maximus' Hope Bay Project ==================================================
Longueuil, April 23, 2007. Maximus Ventures Ltd. is pleased to announce the commencement of a 6,000m drilling program on its Hope Bay project located in Nunavut. This drilling will follow-up on a broad zone of silver-gold mineralization discovered in the Chicago area in 2006 and test the Twin Peaks area for bulk tonnage gold targets.
Chicago Silver-Gold
Maximus' target at Chicago is the discovery of economic gold-rich volcanogenic massive sulfides. The first phase of the 2007 drill program comprises 3,000m focused on testing for extensions and continuity of an altered and mineralized zone encountered in 2006 in hole #6 which intercepted 0.19 g/t gold and 7.8 g/t silver over 104 meters, starting at a depth of 136.5 meters and included 2.2g/t gold and 148g/t silver over 0.8 meters. A second, upper zone, was also encountered starting at 1.75 meters depth, which averaged 34.75 meters grading 0.21g/t gold and 5.3 g/t silver. Additional details are available from the press release dated January 3rd 2007. The 2006 Chicago drilling was wide spaced, with hole #6 located over 400 meters south of the nearest other drill hole and the mineralization discovered is open in all directions. Other mineralized occurrences in the Chicago area will also be tested in the course of the program.
Twin Peaks Gold
An additional 3,000m of drilling is planned on the Twin Peaks area located approximately 50 km to the north of Chicago, within the Hope Bay belt. The Twin Peaks -- Discovery area at Hope Bay hosts numerous gold showings that lie within zones of strong iron-carbonatization and/or silicification in mafic volcanics and sediments. These zones of alteration are also associated with major and subsidiary faults and with corridors of high strain or strong foliation. Gold mineralization, sometimes associated with silver and/or base metals, occurs in quartz-carbonate veins, along structures in highly altered rock. The geological environment at Twin Peaks has strong analogies to a Timiskaming-type model that invokes the analogy for large tonnage gold deposits as in the Porcupine or Kirkland Lake mining camps.
In 2006, Induced Polarization and magnetic surveys were conducted and several anomalies were detected. The 2007 program will focus on drilling coincident geophysical/geological targets.
Hope Bay Agreement
The Chicago and Twin Peaks areas are two separate claim blocks covering 114 square kilometers and held under an option and joint venture agreement with Miramar. The option and joint venture agreement allows Maximus to earn a 75 percent interest in the Chicago and Twin Peaks claim groups. Terms of the agreement require cumulative expenditures and advances of at least $3,250,000 by April 30, 2007, $5,250,000 by April 30, 2008, and $7,250,000 by April 30, 2009 to complete the earn-in. Miramar has the option to buy back 25 percent after vesting by Maximus. Through December 2006 Maximus has advanced and spent $2,427,653 on the project.
Quality Assurance and Control
The technical information in this release was prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed by John Wakeford, P. Geo. and Vice President of Exploration for Miramar. The analytical method for gold is by gravimetric assay, with metallic screen assays for all samples assaying over 20 grams per tonne (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 ALS Chemex in North Vancouver. Check assays are completed by TSL Laboratories of Saskatoon, Saskatchewan 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 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.
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================================================== Copyright (c) 2007 MAXIMUS VENTURES LTD. (MXV) All rights reserved.
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