Madison Minerals Inc.: 2008 Drill Program Commences on Lewis Project
Mon Apr 14, 5:20 PM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2008) - Madison Minerals Inc. (the "Company") (TSX VENTURE: MMR.V)(OTCBB: MMRSF.OB) is pleased to announce, on behalf of the Phoenix Joint Venture, that the 2008 drill program has commenced on the Lewis Project, Nevada. On April 9, a core rig began drilling on the planned program of 3,000 metres at the Virgin Zone designed to complete the drilling necessary to produce an NI 43-101 resource estimate for the Virgin Zone. Plans also include 7,000 metres of RC drilling with about half of this drilling aimed at expanding and delineating the Virgin Zone and the remainder testing the sub-parallel Buena Vista Zone, located 500 - 600 metres to the west-southwest. RC drilling will commence as soon as possible.
The Phoenix Joint Venture is comprised of Great American Minerals Inc. (40%) and Madison Minerals Inc. (60%) with Madison as operator.
Fieldwork for the Lewis Project is being carried out under the supervision of Gerald McArthur, P.Geo., a "qualified person" for the purposes of National Instrument 43-101. SGS Laboratories of Toronto and TSL Laboratories in Saskatoon will conduct the analysis.
The Company also announces that it has granted stock options for the purchase of up to 750,000 shares of Madison Minerals Inc. under its stock option plan. The options are exercisable at a price of $0.25 per share until April 14, 2013. The grant is subject to regulatory approval.
To find out more about Madison Minerals Inc., please visit our website at www.madisonminerals.com.
On behalf of the Board of Directors of MADISON MINERALS INC.
Chet Idziszek, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this press release.
Contacts
David Scott
Madison Minerals Inc.
Investor Relations
(604) 331-8772 or Toll Free: 1-877-529-8475
(604) 331-8773 (FAX)
Email: dscott@mine-tech.com
Website: www.madisonminerals.com |
