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Message: Midway Area Drilling Adding Mineralization Westward and at Depth

Midway Area Drilling Adding Mineralization Westward and at Depth

posted on Jan 06, 2010 04:00AM

Maudore: Midway Area Drilling Adding Mineralization Westward and at Depth

Montreal, Quebec CANADA, January 6 2010 - Maudore Minerals Ltd. (MAO: TSX-Venture; MAOMF: US OTC; M6L: Frankfurt Exchange) reports more high grade gold drilling results from the Comtois Project (near Lebel-sur-Quevillon, north of Val-d’Or, Quebec, Canada).

Drilling intersected 27.7 g/t gold over 1.5m within 14.5 g/t gold over 3.0m (#293) in the Osbell Midway zone, located between the Bell and Osborne resource blocks. At 450m and 465m below surface respectively, this 27.7 g/t gold intercept along with 8.0 g/t gold over 2.3m (#283) are the deepest high grade results obtained to date in the Midway zone. Seven new holes are reported herein, doubling the number of high grade gold intercepts in the Midway zone to date. Drilling of the Midway zone is ongoing. This release also reports two new high grade intercepts from the Osbell Main zone.

Maudore has conducted extensive drilling at Comtois since 2006, reporting numerous high grade intercepts including five holes with more than 150 g/t gold over 1.0 to 1.5m, which are not included in the current (2002) resource estimate. An updated resource estimate is planned for the end of 2010’s first quarter.

“Continuing high grade holes at Midway, particularly at depth, make it look enticingly more like the Osborne zone,” said Ron Shorr, Maudore’s President. “I anticipate that the updated 43-101 estimate will substantially enhance both the size and the quality of the Comtois’ gold resource”.

2010 Drilling
Maudore is working to confirm gold mineralization along the total (2+ kilometre) strike length of the Osbell syn-volcanic hydrothermal system. Due to encouraging results to date, Maudore is accelerating drilling at Comtois to a planned 70,000 meters in 2010. Four drill rigs are now working at Comtois, with the fourth on site as of January 4. During the winter months, drills will operate 24/7, seven days a week, all day long, rather than the prior five day week.

Maudore is well funded for ongoing exploration, having raised $11.85 million in 2009. With these financings, there are still only 22.6 million shares outstanding, 24.0 million fully diluted. The Province of Quebec reimburses approximately 47% of Maudore’s exploration expenditures on a yearly basis, enabling the work conducted to be highly cost-effective and aggressive while maintaining minimal share dilution.

Osbell Midway Area
Seven new significant gold results were obtained in the Osbell Midway area at different depth ranges: near surface, around 300m and below 450m. In the near surface portion (vertical depth ranging from 45 to 125m from surface), intervals of 21.7 g/t gold over 1.5m (#297), 14.8 g/t gold over 1.5m (#297) and 7.9 g/t gold over 1.7m (#281) were obtained in mafic volcanic rocks. At 300m from surface, results of 10.5 g/t gold over 1.5m (#283) and of 8.2 g/t gold over 1.5m (#300) were obtained in the close vicinity of previous high grade results of 41.4 g/t gold over 1.0m within 17.5 g/t gold over 2.5m (#244) and of 57.1 g/t gold over 1.5m within 20.0 g/t gold over 4.5m (#273). Below 450m vertical, results of 8.0 g/t gold over 2.3m (#283) and 27.7 g/t gold over 1.5m within 14.5 g/t gold over 3.0m (#293) are the first high grade results obtained at these depths for the Midway area.

Osbell Main Area at Depth
Two new significant gold results were obtained below the Osbell Main resource area at vertical depth around 450m. These results included 10.8 g/t gold over 1.0m (#289C) and 16.3 g/t gold over 1.3m within 10.8 g/t gold over 2.0m (#292). These results are located at approximately 200m below the exceptional results of 183.5 g/t gold over 1.0m (#270), 177.0 g/t gold over 1.5m (#237A) and 198.5 g/t gold over 0.8m (#157). The Osborne Zone is much the larger of the two current resource blocks (inferred, 524,000 oz gold grading 20.2 g/t uncut). This resource estimate was produced in 2002. These two relatively deep holes compliment previously reported intercepts directly below the Osborne, again demonstrating the continuity and high grade nature of this zone.

Drill
Hole
From
(m)
To
(m)
Core
Length
Gold
(g/t Au)
Weighted
Average
High Grade
Interval
COM
09-281
139.0 140.7 1.7 7.9 7.9 g/t Au over 1.7m
COM
09-283
370.0 371.5 1.50 10.5 10.5 g/t Au over 1.5m
492.2 493.1 0.9 8.3 8.0 g/t Au 8.3 g/t Au over 0.9m
493.1 494.5 1.4 7.8 over 2.3m 7.8 g/t Au over 1.4m
COM
09-289C
497.0 498.0 1.0 10.8 10.8 g/t Au over 1.0m
COM
09-292
538.5 539.8 1.3 16.3 16.3 g/t Au over 1.3m
COM
09-293
475.0 476.5 1.5 1.3 14.5 g/t Au
476.5 478.0 1.5 27.7 over 3.0m 27.7 g/t Au over 1.5m
COM
09-297
53.5 55.0 1.5 21.7 21.7 g/t Au over 1.5m
83.5 85.0 1.5 14.8 14.8 g/t Au over 1.5m
COM
09-300
295.0 296.5 1.5 8.2 8.2 g/t Au over 1.5m

Gold Grades (g/t Au) are expressed uncut.

Weighted averages are expressed over core length. In most cases. core length and true width are close
to being the same given the dip of the drill hole and the strike and dip of the mineralized zone.

Composites (weighted averages) for the Comtois zones were calculated over a minimum core length of 1.5m.

Identification of the mineralized zone is based on a preliminary interpretation using plan and cross-sectional representations.

Values were rounded at 1 decimal point.

Quality Assurance and Quality Control (QA/QC)
Maudore’s exploration program is supervised by Alain Carrier, M.Sc., P.Geo., of InnovExplo Inc., a consulting firm based in Val-d'Or Quebec. Alain Carrier is a Qualified and Independent Person as defined under Regulation 43-101 guidelines. Comtois exploration is conducted under strict QA/QC protocols including mineralized standards, blanks and field duplicates. Half of all sampled core is retained for future reference, and analyses are performed by ALS-Chemex laboratories in Val-d'Or (Qc) and Timmins (ON).

About Maudore Minerals Limited
Maudore owns 100% of the Comtois High Grade Gold project in Quebec, Canada. The current Inferred Mineral Resource at Comtois (RPA, 2002) is 524,000 ounces of gold [808,000 tonnes at 20.2 g/t Au (uncut)] or at 249,400 ounces of gold [808,000 tonnes at 9.6 g/t Au (cut at 30 g/t Au)]. Maudore also owns a large land package west of Comtois with volcanogenic gold/massive sulphide (VMS) potential. VMS gold deposits are more common in Quebec than anywhere else in the world. Maudore holds 1060 claims covering an area of 50,500 hectares (125,000 acres, or almost 200 square miles), extending from Comtois west 95 kilometres to beyond the Sleeping Giant Mine.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that the actual developments or results may vary materially from those in these "forward-looking statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

On behalf of the Board of Directors

Ronald Shorr
President/CEO and Director
(514) 761-1415 http://mailer.alogient.com/link.php?M=427&N=71&L=9&F=H">www.maudore.com.

Table 1. – Osbell Mineralized Zone Area - New Assay Results

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