Maestro Ventures Ltd.: Drilling Commences at Kings Canyon Gold Project
10 Julho 2008 - 10:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("Maestro" or the "Company")
announced today that the Company has commenced a drill program of
up to 3,600 metres at its Kings Canyon gold project, Utah.
The drill program has been designed to verify and expand a
204,000 oz. historical resource, to follow up mineralization in
prior drill holes from other zones that were not adequately tested,
to investigate new exploration targets, and to increase the
understanding of the controls of known gold mineralization.
A recent reconnaissance visit to the project by Board members
and the Company's Technical Advisory Board provided greater
knowledge of the host rocks and faults that have provided conduits
for gold emplacement. The importance of both became obvious during
the visit. More important: the Technical Advisory Board has laid
out a plan to do additional detailed mapping and sampling to
identify projections of the main fault, the location of the
gold-host horizon and new areas to quickly grow the gold resource
through new drill holes.
"What is most impressive about King's Canyon is the simplicity
of the target and the upside growth potential of the gold resource
now that we have identified the key faults and host horizons in the
rock layers," comments Technical Advisory Board member, and former
US Gold Vice President of Exploration, Eric Saderholm.
"Our recent field trip to the Kings Canyon project with
management and Technical Advisory Board members was a complete
success," said Maestro Director, Ann Carpenter. "The details
identified by Eric Saderholm in the gold-conduit faults, and by Dr.
Harry Cook in the gold-host rocks, will enable us to initiate an
effective geologic mapping program that will compliment the
drilling program that is being initiated. The mapping will focus on
identifying new horizons vertically, and new zones laterally that
can be drilled and hopefully grow the gold resource this summer and
fall."
Previous drilling on the gold resource has returned results of
up to 89 feet of 1.82 grams/ton gold (KCC07-4). The entire resource
is shallow (the top ranging from 0 to 330 feet below the surface)
and oxidized with preliminary metallurgical tests indicating that
good recoveries could be achieved with low-cost heap leach methods.
In a separate area to be drilled, Maestro previously drilled two
significant intervals in a core hole (KCC07-5): 58 feet of 0.25
grams/ton gold starting at 8 feet followed by 74.5 feet of 0.63
grams/ton gold starting at 170.5 feet. The current drill program
will also help provide the Company with data to be used for new
regional geologic and geophysical interpretations.
The Kings Canyon gold project was drilled by Crown Resources and
Battle Mountain Gold between 1990 and 1993 (156 reverse circulation
drill holes for a total of 24,890 meters), generating an inferred
historical resource estimate of 6,800,000 tons at a grade of 0.03
oz/ton gold (204,000 ounces) using a cutoff of 0.013 oz/ton.
Maestro warns that a qualified person has not done sufficient work
to classify these historic estimates as current mineral resources,
is not treating these estimates as current mineral resources, and
that the historic estimates should not be relied upon.
About Maestro Ventures
Maestro Ventures Ltd. is an exploration company focused on the
discovery of high-value precious and base metal deposits in the
eastern Great Basin. The Company currently controls mineral title
to nine projects in the Great Basin. While the company is focused
on expanding the gold resource at its Kings Canyon, Utah project,
the new Board of Directors and exploration staff are focused on
evaluating and adding high-quality projects to the portfolio.
Project generation is focused on two major metal-rich trends that
cross the eastern Great Basin.
On behalf of the Board of Directors,
Kris Kottmeier, CEO, Maestro Ventures Ltd.
The TSX Venture Exchange has not reviewed and is not responsible
for the information contained in this release.
Contacts: Maestro Ventures Ltd. Benjamin H. Curry Head of
Investor Relations 1-877-689-2881 Website:
www.maestroventures.com
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