Longueuil, Quebec
and Toronto,
Ontario:
March 31, 2008. Maximus
Ventures Ltd. ("Maximus") (TSX.V: MXV) and NFX
Gold Inc. ("NFX") (TSX.V: NFX)
are pleased to announce today the results from the first four holes from its
2008 follow-up drilling program targeting the Bear Lake area of the Larder Lake
Property in Ontario.� Hole NFX08-35
intersected 4.8 metres of
flow-type mineralization grading 18.3g/t gold,
including a section of 0.5
meter, which yielded 163.5g/t gold. Hole
NFX08-35 was drilled 450m up-dip and 50m east from hole NFX07-11, which
intersected 10.2 meters grading 8.0 g/t Au (as reported on August
16, 2007).� The intercept in hole NFX08-35 contains the
highest single gold value encountered to date in the Bear Lake
area.�
The intercept in hole
NFX08-35 was cut at 120m below surface, clearly showing that high-grade gold
mineralization at Bear
Lake
occurs close to surface and extends at least 550m down-plunge and is open
laterally for over 500m.� This new
intersection opens up a large area where significant tonnage and high gold
grades could be present.� Additional
assay results from other intersections of hole NFX08-35 are pending.
Assay results from
holes NFX08-26, 27 and 28 were also received and, although all holes did cut
flow-type mineralization, they did not yield significant gold values.� Based on geological interpretation of the ore
zones at the now-closed Kerr-Addison Mine located 5km east of Bear Lake, both
high-grade and low-grade shoots are to be expected within carbonate-type and
flow-type mineralization at Bear
Lake.
After a slow start-up
in early February, due to the poor condition of the ice, a total of 11 holes
(holes NFX08-24 to 35, totalling 4,480 metres) have been completed at Bear Lake
during 2008 (see figure). The results from hole NFX08-35 are very encouraging
and there are currently 3 drills working on the ice at Bear Lake.
Drilling will continue to systematically test the Bear Lake Gold Zone along
strike and down-plunge to a vertical depth of 1,000m, using a 125m to 150m hole
spacing.� This spacing will be adjusted
as new assay results are received.
� .
Highlights of Larder
Lake
Assay Results ? Bear
Lake
Area
Hole no.
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
Au
(g/t)
|
Mineralization
Type
|
NFX08-35 (partial)
|
137.8
|
142.6
|
4.8
|
18.3
|
"Flow"-type;
2-10% Py
|
Including
|
137.8
|
138.3
|
0.5
|
163.5
|
|
|
|
|
|
|
|
NFX07-11*
|
587.5
|
592.7
|
5.2
|
10.4
|
"Carbonate"-type;
|
Including
|
588.0
|
589.5
|
1.5
|
20.8
|
|
|
664.6
|
674.8
|
10.2
|
8.0
|
"Flow"-type;
up to 30% Py
|
Including
|
667.0
|
673.0
|
6.0
|
13.3
|
|
Or
|
668.8
|
673.0
|
4.2
|
18.6
|
|
|
|
|
|
|
|
NFX07-14*
|
470.9
|
479.8
|
8.9
|
0.5
|
"Carbonate"-type;
1-5% Py
|
|
647.5
|
652.7
|
7.0
|
0.5
|
"Flow"-type;
up to 20% Py
|
|
|
|
|
|
|
NFX07-15*
|
593.0
|
598.5
|
5.5
|
1.2
|
"Carbonate"-type;
tr-1% Py
|
|
701.0
|
711.7
|
10.7
|
3.9
|
"Flow"-type;
up to 25% Py
|
Including
|
705.6
|
709.7
|
4.1
|
7.0
|
|
|
|
|
|
|
|
NFX07-16*
|
658.0
|
664.0
|
6.0
|
1.8
|
"Flow"-type;
3-5% Py
|
Including
|
662.2
|
662.7
|
0.5
|
4.2
|
|
|
|
|
|
|
|
NFX07-17A*
|
600.5
|
601.0
|
0.5
|
12.2
|
Graphitic Fault
Zone
|
|
686.5
|
691.3
|
4.8
|
6.0
|
"Carbonate"-type;
2-3% Py
|
Including
|
690.0
|
691.3
|
1.3
|
9.7
|
|
|
736.9
|
745.0
|
8.1
|
4.9
|
"Flow"-type;
2-5% Py
|
Including
|
738.0
|
741.0
|
3.0
|
11.4
|
|
|
|
|
|
|
|
Holes # 26, 27 and 28: No significant gold value
|
*Holes
NFX07-11, 14, 15, 16 and 17A previously
released
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. To date, Maximus have spent approximately $4,800,000.
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 assays reported are the uncut
average grades of all determinations from the same samples. The turnaround time
for the reception of assay results from the lab is around 1.5 week (rush) to 3
weeks.
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.� All assays
reporting over 10g/t Au are automatically re-checked using the rejects. 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 Maps shown below or via our website www.maximusventures.com
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:
Francois
Viens
President
and CEO
Maximus
Ventures Ltd.
Tel: 450-677-1009
Fax: 450-677-2601
www.maximusventures.com
|
Gerri
Paxton/Louise Quinn
Investor
Relations
Maximus
Ventures Ltd.
Tel:
450-677-2054/677-3523
gpaxton@maximusventures.com
lquinn@maximusventures.com
|
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 does not accept responsibility for
the adequacy or accuracy of this release.