NEWS ROUNDUP — Maude uncovers new gold zones

Two gold-bearing structures have been defined on the property of Maude Lake Gold Mines (CDN) near Matheson in northeastern Ontario.

The Ramp vein and 1A zone were found during a 7,940-ft. drill program. The former is a northeast-striking, vertically dipping, blue-grey quartz vein which, according to surface and underground drilling and sampling, contains 128,000 tons averaging 0.375 oz. per ton. The vein is open at depth and along strike.

The 1A zone, on the other hand, trends east-west and features intense quartz veining in highly altered lavas. The structure, tested with one hole, had an intersection of 0.053 oz. over 46 ft. at a depth of 1,000 ft. This intersection included intercepts of 0.216 oz. over 4 ft. and 0.56 oz. over 4.9 ft. The structure is also open along strike and at depth. In addition, the company tested previously known structures within the 5-zone deposit, which is accessible by a decline to the 460 ft. level. The deposit’s gold inventory is being re-evaluated.