Maestro Adds Significant Polymetallic Project in Western Nevada
29 Setembro 2008 - 3:08PM
Marketwired
Maestro Ventures Ltd. (TSX VENTURE: MAP) ("Maestro" or the
"Company") today announced that the Company has signed a lease
agreement with JR Exploration Inc. to acquire 100% of the Gold Ore
project, located in Churchill County, Nevada. The property package
consists of 144 unpatented claims covering four square miles.
"Gold Ore is an opportunity to significantly strengthen our
project portfolio," comments Hans Rasmussen, President and
Director. "The addition of Gold Ore demonstrates to our
shareholders that we are not only focused on gold in the Great
Basin, but also on those types of mineral systems that have
potential to deliver long-life, company maker styles of large base
metal and precious metal mines. Gold Ore has significant lead,
zinc, silver, copper and gold with elements such as bismuth and
tellurium that point to a strong porphyry heat source at depth
driving the entire mineral system."
"Gold Ore is another great opportunity in an area with
increasing exploration activity along what we are identifying as a
new emerging mineral trend in Nevada," adds Ann Carpenter,
Director. "While this area has seen phases of precious metal
focused exploration, Maestro is focusing on the potential for a
large poly-metallic system."
The Gold Ore project lies 53 miles (85 kilometres) northeast of
Reno, near the historic Jessup Mining District. The project area
extends for five miles (8 kilometres) in a north-south by 8 miles
(13 kilometres) east-west. Throughout the area, topographic relief
is low, but multiple mineralized outcrops and sub-crops of
mineralized volcanic rocks were sampled. The alteration on surface
and geochemical results suggest the exposures could be the highest
level of two poly-metallic porphyry systems.
First pass rock chip sampling has returned values from less than
0.005 ounces per ton (opt) to 0.268 opt gold, less than 0.005 opt
to 10.8 opt silver, 14 parts per million (ppm) to 3,390 ppm (0.3%)
copper, 30.6 ppm to 272,000 ppm (27.2%) lead and 12 ppm to 353,000
ppm (35.3%) zinc. All assaying was completed by ALS Chemex.
The Lease Agreement
The Gold Ore lease has a 20 year term. At signing Maestro agreed
to pay the claim maintenance and/or filing fees for the 2008
assessment year. Annual lease payments include $10,000 on the first
anniversary of this agreement, $15,000 on the second anniversary,
and there after payments shall increase by 10% annually. The
Company has the right to purchase 100% interest in the property
subject to a 3% Net Smelter Royalty (NSR), 2% of which can be
purchased for US$2 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 13 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 as well as opportunities
that arise in new emerging mineral trends where competitors are
intersecting significant precious metal mineralization.
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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