The Conversation (0)
Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report that a ~10,000-metre winter drilling campaign has been completed at the Douay Gold Project in Quebec, Canada, which is held by a 5050 joint venture (the "JV") between the Company and Agnico Eagle Mines Limited. The Company has also received and interpreted initial assay results from the first drill hole of the campaign, which was an infill hole drilled on the eastern side of the Douay West ("DW") Zone and the first hole to be drilled at the zone since 2017.
Highlights from hole DO-21-294 include:
3.80 g/t Au over 15 m (from 32 m downhole), including 4.51 g/t Au over 11 m (from 32 m downhole), corresponding to known near-surface mineralization;
1.45 g/t Au over 3 m (from 79 m downhole); and
2.98 g/t Au over 5 m (from 234 m downhole), corresponding to the actual hole target.
Fred Speidel, VP Exploration of Maple Gold, stated: "These latest results not only confirm the continuity of higher-grade, near-surface mineralization at the DW Zone, but more importantly support the interpretation of the presence of a further, lower zone of mineralization at or below the current conceptual pit floor. This lower zone is interpreted to form part of a separate mineralized trend that remains open in multiple directions, including to the east-southeast where further step-out drilling may target resource additions and historical drilling remains widely spaced."
Matthew Hornor, President and CEO of Maple Gold, stated: "We are pleased to have achieved the JV's original target of approximately 10,000 metres during this winter drill campaign despite COVID- and weather-related challenges, and to have the first drill hole return such promising results. Our winter campaign was designed in close collaboration with our JV partner with the aim of expanding resources at Douay and we anticipate seeing more positive results from the program in the weeks to come."
Winter 2021 Drill Program
The Winter 2021 drill program was designed to expand the existing Douay mineral resource by both step-out and discovery drilling as well as to upgrade resources with several infill holes. The campaign was completed on April 19, 2021, with 22 diamond holes drilled (19 new drill holes and three extensions to deepen previously drilled holes) for a total of approximately 10,000 metres (see figure 1 for all drill hole locations).
Figure 1: Winter 2021 drill program hole locations in plan view. Cross and long section lines for Figs. 2 and 3 shown in pale blue and red lines, respectively, at the DW Zone.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3077/82249_maplefigure1.jpg
The first DW Zone drill hole (DO-21-294) was primarily designed to test the orientation and continuity of two significant past intercepts spaced approximately 100 m apart that support the potential for a lower zone near the base of the current DW Zone RPA 2019 conceptual pit at a vertical depth of approximately 170 m (Fig. 1):
Past drill hole DO-17-150 (located 37 m SE of DO-21-294) intercepted 1.48 g/t Au over 15 m from 204 m downhole, including 3.12 g/t Au over 3 m from 214.5 m downhole (Fig. 2).
Past drill hole D-116 (collared around 280 m SE of DO-21-294 and interpreted to lie along the SE plunge of the lower DW Zone) intercepted 7.63 g/t Au over 6.5 m from 206.5 m downhole and 2.43 g/t Au over 7.5 m from 321 m downhole (Fig. 3).
The average grade of mineralization at the DW Zone is significantly higher than the overall Douay mineral resource, with pit-constrained Indicated Resources of 286,000 ounces grading 2.13 g/t Au and Inferred Resources of 72,000 ounces grading 1.14 g/t Au (RPA 2019).
Results from DO-21-294 support continuity for the trend of the lower zone at DW and justify additional step-out drilling to test this zone further to the ESE, where drill hole spacing locally is greater than 100 m (Fig 3).
Additional assay results for the winter 2021 program will be released on a periodic basis over the coming months (May-July) once they are received, vetted, and interpreted.
Figure 2: Cross section looking west, projection corridor of 35 m either side, note upper intercept forming part of known near-surface resource, whereas lower intercept is still widely drilled, with only limiteddrilling to the north of hole DO-21-294 on this section.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3077/82249_07eff3a58419597f_003full.jpg
Figure 3: Long section looking northeast, projection corridor of 35m either side, highlighting DO-21-294 lower zone and untested/open areas for future step-out drilling (red ellipses).
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3077/82249_07eff3a58419597f_004full.jpg
True widths are approximately 70-90% of downhole widths shown.
Table 1: Summary of intercepts in DO-21-294.
To view an enhanced version of this table, please visit:
https://orders.newsfilecorp.com/files/3077/82249_mapletable1.jpg
Qualified Person
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
The JV implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drillhole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the Val-d'Or, QC, SGS laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company's QA/QC webpage at www.maplegoldmines.com.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec's prolific Abitibi Greenstone Gold Belt. The projects benefits from exceptional infrastructure access and boasts ~400 km2 of highly prospective ground including an established gold resource (RPA 2019) that holds significant expansion potential as well as the past-producing Telbel mine.
The property also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.
ON BEHALF OF Maple Gold Mines LTD.
"Matthew Hornor"
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Shirley Anthony
Director, Corporate Communications
Cell: 778.999.2771
Email: santhony@maplegoldmines.com
NEITHER THE 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 PRESS RELEASE.
Forward Looking Statements:
This press release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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Figure 1: Drill Holes recently completed near the Swanson Gold Deposit
Figure 2: Swanson drilling target regions and proposed 2025 drill holes (in blue)