Madison drills 12.2 m of 6.35 g/t Au on Lewis
Madison Minerals Inc (C:MMR)
Shares Issued 34,348,776
Last Close 11/15/2006 $1.06
Wednesday November 15 2006 - News Release
Mr. Chet Idziszek reports
DRILLING EXPANDS LEWIS GOLD MINERALIZATION
Madison Minerals Inc. is providing results for the initial set of 16 reverse circulation drill holes from its 2006 drilling program at its Lewis property in Nevada. Madison and its joint venture partner, Great American Minerals Inc., have completed 49 drill holes (both infill and step-out) totalling 31,690 feet during this most recent exploration program.
Drill results received to date have confirmed a third style of gold mineralization as splay structures associated with the Virgin structural zone. Of the current drill results available, holes MAD-43 and MAD-57 have successfully intersected one such mineralized splay, while MAD-45 has intersected a separate, subparallel mineralized splay structure 400 feet to the north.
As indicated within the following tables, gold results from the current set of available drill holes (MAD-34 to MAD-46 and MAD-55 to MAD-57) compare favourably with previous drilling results that had partially outlined two distinct mineralization styles within the extensive Virgin structural zone: steeply oriented, higher-grade mineralization and subhorizontal, lower-grade mineralization, all hosted by favourable stratigraphy. A third style of mineralization, discovered by recent drilling, is steeply oriented mineralized splays or cross structures that intersect the north-to-south-trending Virgin structural zone.
STEEPLY ORIENTED MINERALIZED ZONE
Hole No. From-to (m) Interval (m) Gold (g/t)
MAD-36 222.5-231.6 9.1 4.88
MAD-39 89.9-96.0 6.1 4.54
MAD-55 161.5-170.7 9.2 2.17
including 161.5-164.5 3.0 4.94
MAD-56 134.1-135.6 1.5 7.33
These results compare favourably to previously released results from drill intercepts of this mineralized zone,
including those in the accompanying table.
Hole No. From-to (m) Interval (m) Gold (g/t)
MAD-05 53.3-85.3 32.0 17.50
MAD-08 106.7-115.8 9.1 7.00
MAD-17 41.1-44.1 3.0 8.20
MAD-20 50.3-57.9 7.6 7.10
SUBHORIZONTAL MINERALIZED ZONES
Hole No. From-to (m) Interval (m) Gold (g/t)
MAD-40 54.9-71.7 16.8 1.13
including 56.4-59.4 3.0 2.09
MAD-42 129.5-143.2 13.7 1.44
including 134.1-140.2 6.1 2.39
These results compare favourably to previously released results from drill intercepts of these mineralized zones,
including those in the accompanying table.
Hole No. From-to (m) Interval (m) Gold (g/t)
MAD-06 51.8-76.2 24.4 1.35
MAD-19 44.2-70.1 25.9 1.90
MAD-23 115.8-143.3 27.5 1.93
MAD-28 166.1-182.9 16.8 1.28
NEWLY DISCOVERED SPLAY STRUCTURES ZONES
Hole No. From-to (m) Interval (m) Gold (g/t)
MAD-43 137.2-179.8 42.6 2.62
including 138.7-150.9 12.2 6.35
MAD-45 13.7-22.9 9.2 2.51
97.5-102.1 4.6 1.22
MAD-57 121.9-147.8 25.9 1.47
including 128.0-131.0 3.0 2.37
and 140.2-146.3 6.1 2.07
172.2-175.2 3.0 1.56
The intervals reported in the tables use a 0.5-gram-per-tonne-gold cut-off and true widths have not been determined.
Madison anticipates that a second set of drill hole results will be available within two to three weeks for all three styles of mineralization at the Lewis property. Seven of the 16 holes for which results are presently available did not intersect significant mineralization.
Fieldwork was carried out under the supervision of Gerald McArthur, PGeol, a qualified person for the purposes of National Instrument 43-101, who has also verified the data disclosed in this news release. ALS Chemex in Vancouver and TSL Laboratories in Saskatoon, Sask., carried out all assaying.
The Lewis property is being explored by the Phoenix joint venture, comprising Madison as to a 60-per-cent interest and Great American Minerals Inc. as to a 40-per-cent interest. Madison is the operator of the Phoenix joint venture.
© 2006 Canjex Publishing Ltd.
