VANCOUVER, BRITISH COLUMBIA, Sep. 22, 2009 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/22/09 -- Madison Minerals (TSX VENTURE: MMR)(OTCBB: MMRSF) is a growth-oriented company focused on acquiring, exploring and developing precious metals projects in geological districts with the potential to host world-class deposits. Precious metals (stand-alone gold deposits, gold-silver deposits and gold-copper deposits) are of primary interest because of the positive fundamentals and price outlook for these important metals.
Led by an experienced management team with an impressive record for creating shareholder value, Madison's strategy for growth is to identify, acquire, explore and develop quality projects in proven world-class mineral districts, either independently or through joint ventures with industry partners. Madison's key management is credited with important roles in the discovery and development of two of Canada's richest precious metals deposits, which later became the Eskay Creek gold-silver mine in northwestern British Columbia, and the world-famous Hemlo gold camp in Ontario.
Madison is presently actively exploring the advanced Lewis Property, situated in the prolific Battle Mountain-Cortez gold district of Nevada. Nevada is the world's third largest gold-producing area, accounting for 85% of US production mainly from the Carlin mineral trend (180 million ounces) and the subparallel Battle Mountain-Cortez trend (70 million ounces).
Madison operates and owns a 60% interest in the Lewis Property, with the remainder held by joint venture partner Great American Minerals, a wholly owned subsidiary of Golden Predator Royalty & Development Company.
The 5,500 acre Lewis property is contiguous with Newmont's 8.5 million ounce Phoenix Gold-Copper mine that resumed production in late 2006. Historically, most exploration on the Lewis Property was focused on the Virgin zone, a major structural-stratigraphic corridor which extends from the adjacent Phoenix mine site north for at least 4.5 km across the Lewis property. Only the southern kilometre has been drill tested by Madison.
Since acquiring the Lewis Property in 2002, Madison has completed extensive geological mapping and sampling along with 20 kilometres of induced polarization (IP) geophysics.
