Kings
Canyon & New Butte - 2007 Exploration Program
Maestro began retesting and verifying the historic drilling data on
the Crown property in the spring of 2007. Maestro completed five core
holes to verify grades and establish geologic controls and sampling
protocols.
Four of the core holes tested the historic resource area while a fifth
hole tested a strongly mineralized exploration hole 3200 feet south
of the historic resource area. The results of this effort are highly
encouraging: 4 of the 5 core holes intersected more gold than did
the associated RC holes. All material drilled was oxidized Carlin-style
gold mineralization and would be expected to be amenable to low cost
heap leach processing techniques; historic but unverified bottle role
tests have shown recoveries of 68% to 85% on Kings Canyon rock. The
core drilling results are tabulated below. (Note that the last column
in the table, GT core/RC (Grade multiplied by Thickness of a core
interval versus the equivalent RC interval), is a measure of the absolute
difference in the amount of gold intersected.)
Among the highlights of the core drilling program are:
- The highest grade drill interval ever reported at Kings Canyon:
2 feet @ 11.25 g/t Au in KCC07-01.
- The highest grade five foot interval ever reported at Kings Canyon: 5 feet
@ 7.7 g/t Au in KCC07-04.
- An interval of 74.5 feet @ 0.63 g/t Au in KCC07-05, a core hole, versus approximately
70 feet @ 0.37 g/t Au in RC hole BMKC-3, a 60% increase in gold
content when comparing core to RC gold grades.
- An interval of 51 feet @ 1.02 g/t Au in core hole KCC07-02
versus 20 feet @ 0.83 g/t Au in RC hole KC-2, a 213% increase in gold
content.
One of the more noteworthy results was hole KCC07-05. This was drilled
about 3200 feet south of the main resource into an area, the Ace target,
where several previous RC holes had returned strongly anomalous but
sub-ore grade (0.37 to 0.43 g/t Au) mineralization. The core hole
assays showed about 60% more gold, raising the grade to 0.63 g/t Au
or 0.019 opt Au. There are several other prior RC drill holes nearby
and along a northwest trend over 4000 feet long that also intersected
strongly anomalous material. It is possible that this area contains
much more gold than previously recognized and could eventually represent
a separate resource area at Kings Canyon.
Table
1: Kings Canyon core results versus RC twin holes.
Maestro plans to follow up this core campaign with 10,000 to 15,000
feet of additional drilling in 2008. Numerous robust targets exist
on the property outside the historic resource area. These targets
consist of:
- The Ace target area, with numerous sub-ore
grade intercepts from Battle Mountain drilling.
- Other areas outside of the historic resource zone with prior RC drill holes
that showed strong gold mineralization (up to 190 feet with 0.223 grams/ton gold).
- Several jasperoid-bearing mineralized
faults that are visually similar to the fault believed to have guided
fluids responsible for known resource mineralization.
- Covered areas with anomalous soil geochemistry.
Many of these targets are located in areas where the target stratigraphy
is at shallower depths than the historic resource area which would
enhance their economic potential.
Maestro can earn a 100% interest in the Kings Canyon resource area
property by paying Crown Resources Corp. US$1,000,000 or the equivalent
value in common shares of Maestro by the 7th anniversary of their
option agreement dated Dec. 6, 2006, or on the commencement of commercial
production. Maestro will also issue 75,000 shares upon each of the
first through seventh anniversaries of the option agreement. Maestro
also holds an additional 970 acres at Kings Canyon through an option
agreement with Palladon Ventures Ltd. |