 | | | Publié le 21 février 2008 | and NFX confirm the Extension of the Fernland mineralization at Larder Lake |
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PRESS RELEASE / DATED February
21, 2008
Maximus and NFX confirm the
Extension of the
Fernland mineralization at Larder
Lake , Ontario
Hole #21 intersects 28.1
g/t Au over 1.0 m
Longueuil, Quebec and Toronto,
Ontario: February 21, 2008. Maximus Ventures Ltd. ("Maximus")
(TSX.V: MXV) and NFX Gold Inc. ("NFX") (TSX.V: NFX) are pleased
to announce today the results from six follow-up drill holes located in
the Fernland area of the Larder Lake Property in Ontario. The six holes
tested for down-plunge (down to 400m vertical) and lateral (200m east and
west) extensions of the high-grade gold zone intersected in hole #13 (6.9
g/t Au over 13.5 m, and including 13.1 g/t Au over 6.0 m as reported in
the November 1st and 6th, 2007 press releases).
Five of the six follow-up holes intersected gold mineralization,
including hole #21 which intersected 28.1 g/t Au over 1.0 m.
Fernland Zone Results
Preliminary geological interpretation,
based on the results obtained from all the drilling in the Fernland area,
shows that the mineralization is more complex than anticipated. Based
on intercepts to date, high-grade gold shoots occurring at Fernland appear
to be confined to the immediate vicinity (within 100m) of NW trending faults.
This was confirmed by hole #13’s gold-rich intersection which is
located less than 50m from one of those faults (Fig. 1). Furthermore,
holes 19 and 21, both drilled within 100m of the same fault zone all intersected
highly anomalous gold values. Hole #18, drilled west of the fault,
cut the mineralized horizon which graded 0.5 g/t Au over 21.0 m, including
0.7 g/t Au over 10.7 m. Hole #19 intersected 0.5 g/t Au over 22.9 m, including
a section grading 5.9 g/t Au over 1.5 m. Hole #20 followed the fault zone
almost all the way down and cut disrupted shreds of the mineralized horizon
grading 1.2 g/t Au over 5.8 m, including 3.1 g/t Au over 1.3 m. Hole #21
cut two discontinuous sections of gold mineralization grading 2.1 g/t Au
over 0.8 m and 28.1 g/t over 1.0 m respectively. Holes #22
and #23 did not intersect significant gold values along the target horizon
and seem to have been drilled outside of the high-grade shoot.
Hole #22 did encounter a gold zone
along a different structure from the other holes in the area grading 1.6
g/t Au over 3.0 m, including 3.2 g/t Au over 1.1 m and 5.8
g/t Au over 1.2 m. The intersection is characterized by narrow
pyrite-bearing quartz-carbonate veins. The different style of mineralization
and the different position of the zone suggest the presence of a new gold
zone that will be evaluated for future drilling.
Although apparently somewhat limited
(100 to 150 m) in strike length, these mineralized shoots have proved to
contain high-grade gold values within large gold-anomalous halos around
the fault zones. Based on this, a thorough compilation is underway
to fully assess the attitude and economic potential of these high-grade
zones at Fernland in order to assist with planning additional drilling.
Bear Lake Zone
The 43,000 m drilling program planned
at Larder Lake is proceeding as scheduled with three drills operating from
the ice surface on Bear Lake. In January, a 34,000 m drill program
commenced at Bear Lake in order to systematically test the Bear Lake high-grade
gold zones intersected in hole #11 (10.4 g/t Au over 5.2 m, including 20.8
g/t Au over 1.5 m and 8.0 g/t Au over 10.2 m, including 18.6 g/t over 4.2
m as reported on August 16, 2007). The current drill program
will investigate the zone along strike and down-plunge to a vertical depth
of 1,000 m.
Larder Lake Property
Maximus is conducting the drilling program pursuant to the Option and Joint
Venture Agreement between Maximus and NFX, whereby Maximus has the right
to earn a 60% interest in NFX's 100% interest in the Cheminis, Fernland
and Bear Lake claims and 45% interest in NFX’s 100% owned Barber Larder
claims, by expending $6 million on exploration by December 31, 2008.
As part of its QA/QC program, Maximus
carries out check assays on the high-grade intersections with no discrepancies
found in the assay results. The turnaround time for the reception of assay
results from the lab has been very slow since September, due to the very
large amount of samples received with the end of the field season. The
situation is gradually returning to normal.
The technical content of the information, related to Larder Lake, was reviewed
by Mr. Bernard Boily, P. Geo., responsible for supervising the drilling
program and qualified person for Maximus under the guidelines of National
Instrument 43-101. The analytical method for gold is one (1) assay-ton
fire assay, AA determination with gravimetric finish on all samples reporting
over 2 grams per tonne (g/t) gold. Assaying is done at Laboratoire Expert
Inc. in Rouyn-Noranda, Quebec. The quality control process includes inserting
blank samples and certified standards within each batch sent to the laboratory.
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 are often, but not always, identified
by the use of words such as "seek", "anticipate", "believe",
"plan", "estimate", "expect", and "intend"
and statements that an event or result "may", "will",
"can", "should", "could" or "might"
occur or be achieved and other similar expressions. These 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
For further information please
contact:
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Thomas G. Larsen
President and CEO
NFX Gold Inc.
Tel: 416-360-8006
Fax: 416-361-1333
Toll Free: 800-360-8006
www.nfxgold.com |
The TSX Venture Exchange has
neither approved nor disapproved of the contents of this news release.
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Bear Lake Gold Ltd.
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EXPLORATEUR |
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CODE : BLG.V |
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ISIN : CA07381Q2053 |
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Bear Lake est une société d’exploration minière d'or basée au Canada. Bear Lake détient divers projets d'exploration en USA et au Canada. Ses principaux projets en exploration sont HOPE BAY (ORO), LARDER LAKE (CHIMINIS) et LEMOYNE au Canada et UNITY en USA. Bear Lake est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 5,5 millions CA$ (5,0 millions US$, 3,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 mars 2006 à 3,00 CA$, et son plus bas niveau récent le 20 décembre 2013 à 0,01 CA$. Bear Lake possède 136 380 000 actions en circulation. |
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