Feb. 11, 2010 (TheNewswire.ca) --
Winnipeg, MB - Mainstream Minerals (OOTC:MSMCF) (TSXV:MJO) Corporation (TSX-V: MJO)(the "Company") announces that it has initiated a work program on the joint-ventured Bobjo Mine Project that is partnered with King's Bay Gold Corporation (TSXV:KBG) (KBG-TSX). The agreed to program will include re-logging and additional assaying of the core from previous drilling, line cutting and IP surveys will be conducted over a number of strategic locations. The purpose of the program is to establish high priority drill targets for drilling early in the spring.
Previous work on the Bobjo project was organized and supervised by Ron Rivet, Exploration Coordinator of Kings Bay Gold and with the use of drills and equipment owned by Kings Bay Gold and other independent contractors. Going forward, Ron Rivet or any of his affiliated companies, associates or family members will not be involved in any exploration projects of Mainstream Minerals, including the Bobjo. Mainstream is the operator of the Joint Venture and will bring in independent experienced contractors that are familiar with the area to complete future work on the property.
The Bobjo Mine property is located approximately 80 kilometres by road north-east of the town of Ear Falls, Ontario. The historic Bobjo mine operated for two years and saw limited production from a small underground mining operation. A figure of 362 ounces of gold was reported from an unknown tonnage in the Ontario Department of Mines Annual Reports for 1929. On the adjacent property to the east, the Uchi Lake Mine had considerably more success. A similar hosted quartz vein type deposit operated from 1939-1943. It produced 757,074 tons grading .151 oz/ton (114,467 oz). In total there are at least five past producing gold mining operations within a 12 kilometre radius of the Bobjo project as well as numerous gold occurrences that are documented in the geological reports and government publications.
Back in November 2006, Mainstream received a few spectacular assay results back from grab samples taken off the property. Two grab samples taken from a mineralized zone measuring over 6 m in width returned assays of 85.84 oz/ton Au (2,942 g/t) and 23.54 oz/ton Au (806 g/t)(technical data taken from the National Instrument 43-101 report dated December 23rd, 2006 as written by John C. Archibald Honours B.Sc. Geol., A.P.G.O and posted on SEDAR on April 30th, 2007). In September 2007 the company completed the first phase of diamond drilling. Notable assay results were 93.090 g/t over .20 meters and 32.590 g/t over 1.1 meters. Mainstream President Michael Romanik stated "We are very excited to be getting back to work on our Bobjo project. The results to date have been very impressive. We believe the phrase "the best place to find a new mine is beside an old one" is a terrific philosophy. With 5 past producing mines within 12 a kilometre radius, we are in the right place and will aggressively drill new targets outlined by this initial work program. With the new management and board in place, Mainstream is refocused on working for shareholders and taking the company to the next level."
About Mainstream Minerals
Mainstream Minerals Corporation is a mineral exploration and development company focused on precious metal / rare earths mining properties with economic potential, with the aim of bringing such properties to commercial production. The Bobjo Mine project is located in the prolific Red Lake Gold Camp in Ontario.
MJO Shares Outstanding: 34,187,449
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President & CEO
(204) 222-0137
info@mainstreamminerals.com
www.mainstreamminerals.com
This news release includes certain forward-looking statements concerning the future performance of Mainstream Mineral Corporation's business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and readers are cautioned against placing undue reliance thereon.
Neither 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 release.
Copyright (c) 2010 Thenewswire.ca - All rights reserved.
