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Maudore recently began re-drilling the high grade Comtois gold
property in Québec, after consolidating its position by securing
100% in late 2005. The company has been exploring this
mineralization since 1998. Comtois contains an inferred resource of
808,000 tons with 524,000 ounces of gold (uncut). The grade on these
uncut ounces is over 20 grams (0.65 ounces) of gold per ton. There
are over 100 drill holes in the property totaling about 25,000
meters. A report by Roscoe Postle Associates, which qualifies as a
N.I. 43-101 audit, discusses Comtois’ viability. An extended
drilling program began in June, and will likely continue to year-end
and beyond.
The recent agreement completes a restructuring which began in late
2004 with a new corporate name, management change, appointment of
new Directors encompassing half the Board, debt elimination, and a
share rollback. Last July, Maudore raised $1.4 million, mostly to be
spent on Comtois exploration. Maudore also is actively exploring
possibilities for the acquisition of other properties to achieve its
stated corporate goals of asset and geographic diversification.
The Company believes Québec is the most favorable jurisdiction for
any mining property. It has an historical mining tradition with
numerous well-trained people with mining skills. The geological
setting is superb with lots of developed deposits and unexplored
potential. Canada itself is similarly well positioned with
government stability and economic conservatism. Finally, Québec
rebates to an exploration company an amount equal to about half of
its direct expenditures. Investors may expect renewed interest in Québec
due to the large recent gold find there by Virginia Gold Mines at
its Eléonore project, and its subsequent acquisition by Goldcorp.
Currently, the market capitalization of Maudore is only about $6
million (Cdn.), after deducting roughly $2 million in cash. With a
resource of about a half million ounces (uncut), the capitalization
is very low by almost any measure, especially compared to its peer
group.
Contact:
Email:
info@maudore.com
Phone: 514-761-1415
Fax: 208-474-1560
Address:
1000 de
la Gauchetiére West
24th Floor
Montréal, QC,
H3B 4W5 CANADA
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