WINNIPEG, Manitoba, Aug. 29, 2007 (PRIME NEWSWIRE) -- Mainstream Minerals Corporation (TSX-V: MJO) is pleased to update its shareholders regarding the progress being made in the field. The Company first announced on June 26, 2007 the commencement of a $1,000,000 first-phase diamond-drilling program on the Bobjo property. The Company is reporting that drilling is ongoing and progressing well. Sixteen holes have now been completed and samples from the first ten holes have been sent to the labs for assaying.
The joint venture is 50 % Mainstream Minerals and 50 % Kings Bay Gold (TSX-V:KBG), with Mainstream Minerals being the Operator of the project. John Archibald, P. Geologist is the Qualified Person under National Instrument 43-101. The samples from the first five holes were sent to Accurassay Laboratories of Thunder Bay, Ontario. The remainder, including all future samples, will be analyzed by SGS Laboratory in Red Lake, Ontario. The partners are expecting the assay results very shortly.
The Bobjo Mine property is located between the former South Bay and Uchi Lake gold mines. It is comprised of a total of nine patented and 86 unpatented claim units totaling 3,800 acres with a power transmission line passing through the southern part of the property. The area has a history of gold and base metal production dating back 80 years and the work presently being carried out by the partners represents the commencement of the first modern, systematic exploration of the property.
This Bobjo project was the site of a high-grade gold discovery in December 2006, where surface grab sampling of one vein, with a width of up to approximately 6 metres returned ultra high-grade gold values of up to 2,942.7 g/t (85.84 oz/t) and 806.9 g/t (23.54 oz/t).
About Mainstream Minerals
Mainstream Minerals Corporation is a mineral exploration and development company focused on precious metal mining properties with economic potential, with the aim of bringing such properties to commercial production. The Company's portfolio of properties is primarily located in the prolific Red Lake Gold Camp of Northwestern Ontario.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe MJO's future plans, objectives or goals, including words to the effect that MJO or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.