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Maximus Reports Exploration Results On Excelsior Springs And
Keystone
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Bulk Tonnage Potential Confirmed at Excelsior Springs
Longueuil, May 7, 2007. Maximus Ventures Ltd today reported RC drilling
results from the second round of drilling at Excelsior Springs and
initial drilling at the Keystone project, both located in Nevada, USA.
At Excelsior Springs, hole EX-18 intersected 3.1m averaging 10.68 gm Au
at a depth of 42.7m. In addition, longer zones of lower grade
mineralization, such as the intercept in hole EX-15, which intersected
64m averaging 0.69 gm Au starting at a depth of 4.7m, suggests
significant potential at Excelsior Springs for a large scale bulk
tonnage gold mineralized system that includes potential high grade
shoots. The RC drilling at Keystone did not identify economic
silver-gold mineralization.
Excelsior Springs Drilling
Phase 2 of the exploration program at Excelsior Springs consisted of
drilling 13 RC holes totaling 1,494m. Three (3) of these holes (EX-10,
EX-11 and EX-13) were drilled to follow-up the high grade gold
intersection in hole EX-02 (6.1m @ 9.8 g/t Au) previously released on
February 5th 2007. Phase 2 hole EX-13 cut 2.7g/t Au over 13.7 meters in
a mineralized zone 85 meters up-dip from the intercept in EX-02.
Geological interpretation suggests that these higher grade intercepts
may not correlate directly, suggesting either faulting or the presence
of multiple disrupted mineralized lenses.
However, by compiling all assays from all available drill holes above a
cut-off grade of 0.3 g/t, a more continuous gold zone of approximately
45 meters thick by 300 meter long can be outlined. The geological
interpretation shows several offsets in the rock units due to faulting
but the gold mineralization seems to overprint all of this. This
diffuse gold bearing zone is essentially open down dip and appears to
be faulted off to the east and west. Assuming a dip of 45� to the
south, based on surface structural information, this mineralization
could well develop into a consistent mineralized zone at relatively
shallow depth (see attached map)
"Maximus is in the process of evaluating its options regarding the
follow up work program on Excelsior Springs," says Francois Viens,
President and CEO of Maximus. "The presence of high grade gold
mineralization within a larger lower grade mineralized envelope creates
a very interesting environment that will certainly require additional
drilling work."
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Note: Results for holes EX-01 to EX-09 previously released (February
5th 2007)
Excelsior Springs Property
The Excelsior Springs Property, located in Esmeralda County, Nevada
consists of 2 patented mining claims and 100 unpatented claims. The
patented claims are held under a lease with option to purchase. Costs
are US$12,000 per year until the start of production, after which costs
are the larger of either US$20,000 per year or a 2% net smelter
royalty. The claims and royalty may be purchased at any time for
US$300,000. The unpatented claims are held under a purchase option with
total payments over 4 years of US$270,000 with a 2% gross sales
royalty.
Keystone Property
The Keystone property located in Pershing County, Nevada was acquired
to test the potential for shallow silver-gold mineralization that could
be mined by open pit methods. Twenty six (26) unpatented mining claims
are 100% held by Walker Lane Gold, a wholly owned subsidiary of
Maximus. Eleven (11) holes totalling 1,426 metres were drilled in 2007
to test a steeply dipping quartz vein system within an extensive zone
of clay alteration and iron staining. Due the poor continuity and grade
of the gold and silver mineralization and, considering that the
potential for finding a large economic deposit has been well tested and
found wanting, Maximus has decided to drop its option on Keystone.
Rehabilitation work will be completed in May at a low cost to Maximus.
Quality Assurance/Quality Control
The technical content of the information related to Excelsior Springs
and Keystone was reviewed by Mr. Bernard Boily, P. Geo., responsible
for supervising the drilling campaign and qualified person for Maximus
under the guidelines of National Instrument 43-101. The analytical
method for gold is 1 assay-ton fire assay AAS determination with
gravimetric finish on all assays reporting over 10 grams per tonne
(g/t) gold. Assaying is done by ALS Chemex in Reno, NV, USA.
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.
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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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