NFX
and Maximus Confirm Extension
of
the Bear Lake Gold Zone at Larder Lake
Hole 17A intersected 11.4 g/t Au over 3.0m and 6.0 g/t Au over 4.8
m
Longueuil, Quebec and Toronto, Ontario: December
20, 2007. NFX Gold Inc.
("NFX") (TSX.V: NFX) and Maximus Ventures Ltd. ("Maximus")
(TSX.V: MXV) are pleased to announce the results from two more follow-up
holes in the Bear Lake Area of NFX's Larder Lake Property located in
Ontario, Canada.� Two holes, #16
and #17A, were respectively drilled 75m east and 75m west of hole #11
that intersected two high grade zones�
(10.4g/t Au over 5.2m and 8..0g/t Au over 10..2m),
as reported on August 16, 2007. Hole #17A intersected
"flow"-type mineralization grading 4.9g/t Au over 8.1m, including 11.4g/t
Au over 3.0m. Hole #17A
also intersected "carbonate"-type mineralization that assayed 6.0g/t
Au over 4.8m,
including� 9.7g/t Au over 1.3m. Hole #16 intercepted
modest mineralization.
"Results of the five holes drilled to date
show the strong continuity of the mineralization and confirm that a large
gold mineralized system is present at BearLake with both high grade and low-grade lenses
occurring within the mineralized area", said Francois Viens,
President and CEO of Maximus Ventures. "The mineralization at BearLake
shows strong similarities with the ore zones at the historic Kerr-Addison
gold mine (6km to the east), characterized by alternating higher and
lower grade ore shoots."
Drilling is on-going in the Fernland area on the
Larder Lake property where a six-hole program is testing the extension of
the high-grade gold mineralization intersected in hole #13 that graded 6.9g/t Au over 13.5m,
including 13.1g/t Au over
6.0m (see November 1 and 6, 2007 press releases).� The results for these step out holes
are still pending.
Once the current program at Fernland is
completed in January 2008, drilling will resume at BearLake with the
objective of systematically testing the higher-grade lenses laterally and
down-plunge to a vertical depth of 1000m.�
Drill Results
Details
The
"Carbonate"-type mineralization was intersected at 689m in hole
#17A along with a stockwork of strongly albitized veinlets and 2-3%
Py.� This section graded 6.0g/t
Au over 4.8m, including 9.7g/t Au over 1.3m.� Then, at 740m, hole #17A intersected
"Flow"-type mineralization.�
Several small grains of visible
gold were observed in quartz veinlets.� Overall, pyrite content varies between
2 to 5%.� Assay results from this
section returned 4.9g/t Au over 8.1m, including 11.4 g/t Au
over 3.0m.
Furthermore, a
graphitic fault zone intersected at 601m in hole #17A assayed 12.2g/t
Au over 0.5m, which
indicates that the fault zones in the Bear Lake area might have served as
conduits for gold-bearing fluids.�
The presence of these gold-bearing fault zones in the Bear Lake
Area potentially indicates the presence of an extensive gold-rich
mineralized system.
Hole #16, drilled
75 metres east from hole #11, did not intersect the "Carbonate"-type
mineralization that was faulted-off by a 9m wide fault zone at 635m, but
intersected the "Flow"-type mineralization at 662m which
returned 1.8g/t Au over 6.0m, including a section grading 4.2g/t Au
over 0.5m.� The attitude and extent of this thick
fault zone will only be assessed once more holes are drilled in the area.
The following
table shows the results to date from the BearLake area.
Highlights of
LarderLake Assay Results
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