Maestro Ventures Ltd.: Drilling Commences at Kings Canyon Gold Project - Market Wire
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 10, 2008 -- Maestro Ventures Ltd. (CDNX:MAP.V - News) ("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.
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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.
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