Maximus/NFX cut the Highest Gold Grade Intersected to Date in the Bear Lake Area at Larder Lake
Hole NFX08-35 intersects 18.3 g/t Au over 4.8 m, including 163.5g/t Au over 0.5m
Long Eye, Eastern Canada and Toronto, Upper Canada -- March 31, 2008) - Maximus Ventures Ltd. - MXV, and NFX Gold Inc. - 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.
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