Maestro Strengthens Position in Emerging Gold Region of Nevada
26 Agosto 2008 - 10:41AM
Marketwired
Maestro Ventures Ltd. (TSX VENTURE: MAP) ("Maestro" or the
"Company") today announced that the Company has signed a lease
agreement with RSGold LLC to acquire 100% of the Twin Springs SS
project, located in Pershing County, Nevada. The property package
consists of 162 unpatented claims covering approximately five
contiguous square miles.
"We are positioning Maestro into a newly emerging gold region
with our latest acquisition of Star Point and now Twin Springs SS,"
comments Hans Rasmussen, President and Director. "We have several
very active neighbors, including Midway Gold who is drilling at
their Spring Valley Project, Golden Predator, Newmont and Fronteer
Development Group. SS has the characteristics of a large,
multi-age, epithermal Au system hosted in Triassic limestone
rocks."
"Twin Springs SS represents another great opportunity for a
company-maker discovery in an area that is emerging as one of
Nevada's new area plays," adds Ann Carpenter, Director
"particularly as we watch the consolidation of companies in the
district and new drill results from all the active players here.
Based on my field visit, it is apparent that Twin Springs SS is a
very large mineral system mineralization is spread in sub-crop over
a large area and the project has abundant north-south and
northeast-trending structural controls, which are both prolific
trends in this region."
The Twin Springs SS project lies about 30 miles (45 kilometres)
east of Lovelock, Nevada, about 15 miles (24 kilometres) east of
Rochester and the Spring Valley Mining District. The target for
Maestro is gold mineralization and gold-silver mineralization
hosted in Triassic silty and sandy limestones.
The project area extends for 5 kilometres in a north-south by 3
kilometres east-west. Throughout the area, topographic relief is
low, but multiple mineralized outcrops and sub-crops of mineralized
Triassic limestone were sampled. The alteration on surface and
geochemical results suggest the exposures are probably the highest
level of an epithermal precious metals system, and the entire
system remains intact beneath the surface.
Recent assay results by American Assay Labs for 56 rock chip
samples include from below detection to 0.68 grams/tonne gold and
from below detection to greater than 1,500 grams/tonne silver, with
low levels of lead, zinc and copper. The samples were also
anomalous in epithermal indicator elements; for example, mercury
ranged from below detection to 8.6 parts per million mercury,
arsenic ranged from 6 to 995 parts per million and antimony was
very anomalous, from 1.2 to over a percent; all three anomalous
elements provide evidence of a strong hydrothermal system. Regional
geologic maps have Jurassic, Cretaceous and Tertiary intrusive
stocks mapped in the region, thus suggesting that multiple
mineralization events are possible in this area. Fault zones are
dominantly north-south with a strong northeast-southwest regional
fault zone trend cutting the claim block.
The Lease Agreement
The Twin Springs SS lease has a 20 year term. At signing Maestro
agreed to claim maintenance and/or filing fees for the 2008
assessment year, and a $5,000 cash payment plus 5,000 Maestro
common shares. Annual lease payments, or advanced royalty payments,
include $10,000 cash payment and 1,000 Maestro common shares on the
first anniversary of this agreement, $20,000 in cash or shares on
the second anniversary, $30,000 in cash or shares on the third
anniversary, $40,000 in cash or shares on the fourth anniversary,
and there after payments shall increase to $50,000 annually for the
remainder of the 20 year lease. The Company has the right to
purchase 100% interest in the property subject to a 3% Net Smelter
Royalty (NSR), which increases to 4% NSR when gold exceeds $1,000
per ounce, 2% of which can be purchased for US$3 million.
About Maestro Ventures
Maestro Ventures Ltd. is an exploration company focused on the
discovery of high-value precious and base metal deposits in the
Great Basin of Nevada and Utah. The Company currently controls
mineral title to 12 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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