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Diamond Drilling Begins At Maximus' Hope Bay Project
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Longueuil, April 23, 2007. Maximus Ventures Ltd. is pleased to announce
the commencement of a 6,000m drilling program on its Hope Bay project
located in Nunavut. This drilling will follow-up on a broad zone of
silver-gold mineralization discovered in the Chicago area in 2006 and
test the Twin Peaks area for bulk tonnage gold targets.
Chicago Silver-Gold
Maximus' target at Chicago is the discovery of economic gold-rich
volcanogenic massive sulfides. The first phase of the 2007 drill
program comprises 3,000m focused on testing for extensions and
continuity of an altered and mineralized zone encountered in 2006 in
hole #6 which intercepted 0.19 g/t gold and 7.8 g/t silver over 104
meters, starting at a depth of 136.5 meters and included 2.2g/t gold
and 148g/t silver over 0.8 meters. A second, upper zone, was also
encountered starting at 1.75 meters depth, which averaged 34.75 meters
grading 0.21g/t gold and 5.3 g/t silver. Additional details are
available from the press release dated January 3rd 2007. The 2006
Chicago drilling was wide spaced, with hole #6 located over 400 meters
south of the nearest other drill hole and the mineralization discovered
is open in all directions. Other mineralized occurrences in the Chicago
area will also be tested in the course of the program.
Twin Peaks Gold
An additional 3,000m of drilling is planned on the Twin Peaks area
located approximately 50 km to the north of Chicago, within the Hope
Bay belt. The Twin Peaks -- Discovery area at Hope Bay hosts numerous
gold showings that lie within zones of strong iron-carbonatization
and/or silicification in mafic volcanics and sediments. These zones of
alteration are also associated with major and subsidiary faults and
with corridors of high strain or strong foliation. Gold mineralization,
sometimes associated with silver and/or base metals, occurs in
quartz-carbonate veins, along structures in highly altered rock. The
geological environment at Twin Peaks has strong analogies to a
Timiskaming-type model that invokes the analogy for large tonnage gold
deposits as in the Porcupine or Kirkland Lake mining camps.
In 2006, Induced Polarization and magnetic surveys were conducted and
several anomalies were detected. The 2007 program will focus on
drilling coincident geophysical/geological targets.
Hope Bay Agreement
The Chicago and Twin Peaks areas are two separate claim blocks covering
114 square kilometers and held under an option and joint venture
agreement with Miramar. The option and joint venture agreement allows
Maximus to earn a 75 percent interest in the Chicago and Twin Peaks
claim groups. Terms of the agreement require cumulative expenditures
and advances of at least $3,250,000 by April 30, 2007, $5,250,000 by
April 30, 2008, and $7,250,000 by April 30, 2009 to complete the
earn-in. Miramar has the option to buy back 25 percent after vesting by
Maximus. Through December 2006 Maximus has advanced and spent
$2,427,653 on the project.
Quality Assurance and Control
The technical information in this release was prepared in accordance
with Canadian regulatory requirements set out in NI 43-101 and reviewed
by John Wakeford, P. Geo. and Vice President of Exploration for
Miramar. The analytical method for gold is by gravimetric assay, with
metallic screen assays for all samples assaying over 20 grams per tonne
(g/t) gold. The analytical method for silver is done by mass
spectrometer and atomic emission spectrometer (AES) multi-element ICP
(Inductively Coupled Plasma). Any silver values reporting greater than
100 grams per ton (g/t) are re-analyzed and finished by atomic
absorption method complete with appropriate standards. Assaying is done
by ALS Chemex in North Vancouver. Check assays are completed by TSL
Laboratories of Saskatoon, Saskatchewan Blank samples and standards
with known amounts of metal were submitted as part of the quality
control process.
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 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.
http://www.maximusventures.com/i/misc/map_04_23_07.jpg
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Copyright (c) 2007 MAXIMUS VENTURES LTD. (MXV) All rights reserved.
For more information visit our website at
http://www.maximusventures.com/ or send mailto:info@maximusventures.com
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