Precious Metals

Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to provide an update on exploration activities at its Douay Project (the "Project") located in Quebec, Canada. The Company has expanded its Fall 2020 drill program to consist of 10 holes totalling over 4,000 metres with completion expected in early January 2021 and assay results pending. The Company has also commenced one of the largest Induced Polarization ("IP") surveys to be carried out on the project totalling approximately 117 line km over three grids, including over a 15 km2 area along the northern flank of the Douay resource area.

"We are pleased to have expanded our Fall 2020 drill campaign with a significantly larger program than we initially planned due to encouraging indications of a significant sulphide system at the high-priority Northeast IP target," stated Fred Speidel, VP Exploration for Maple Gold. "While assay results are taking longer than anticipated to be returned, we made the decision to mobilize a second drill rig to further test this regional anomaly along its full 2-km-long strike length with two additional holes."

"Additionally, one of the key themes at Maple Gold has been the generation and testing of new discovery targets at our district-scale Douay property and this will continue to be a focus for us in 2021. The IP work that has begun covers a large area along an important shear zone just north of the currently known resource and includes an undrilled potential source area for the highest gold-in-till anomaly on the property. There are many exciting opportunities like this at the property and we look forward to systematically detailing more targets for upcoming drill campaigns," concluded Mr. Speidel.

Fall 2020 Drilling Campaign

The Company has expanded its Fall 2020 drill program to consist of 10 holes, eight of which have been completed and two pending completion in January 2021, for a total of approximately 4,050 metres drilled to date (see Figure 1 for drill hole locations). Key details are as follows:

  • Three holes were completed at the high-priority regional Northeast IP Target ("NE IP Target") with one additional hole in progress and pending completion in early January 2021. Additional holes may be drilled at three remaining permitted sites on this target in the Company's Winter 2021 program.

  • An initial hole was completed at the high-priority regional P8 Target. Two additional permitted sites may be drilled in the Winter 2021 drill program.

  • Five holes were drilled in and around the Douay mineral resource - one step-out hole at the Main Zone, one infill hole at the 531 Zone and three infill holes at the Porphyry Zone.

The initial assay process is taking longer than expected and results will be announced in Q1/2021 once they have been received, vetted, compiled and interpreted. Planning is also well underway for the Company's winter drilling program which is expected to commence in mid-January and will cover approximately 10,000 metres with multiple drill rigs.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3077/71378_66246fd8b4f92bfc_001.jpg

Figure 1: Fall 2020 campaign drillhole locations on 2011 airborne total magnetic field intensity image. Survey coverage did not extend to the NE IP Target area at the time.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3077/71378_66246fd8b4f92bfc_001full.jpg

Winter 2021 IP Survey

During December, the Company commenced line cutting for a large IP survey to cover an initial 15 km2 target area extending up to 4 km northwest of the Central Zone at the Douay mineral resource (see Figure 2). Line cutting on the first grid is now nearing completion and IP surveying will begin in early January. This area is considered high priority for several reasons:

  • Presence of a major lithotectonic boundary or shear zone known to be spatially associated with gold mineralization at the Main, Central and NW zones;

  • Presence of one of the richest overburden/top-of-bedrock historical drill results on the property at the Central Zone: hole 76955 (see Figure 2) encountered 256 gold grains within the basal till sample, with 240 gold grains being delicate and therefore likely transported no more than 500 m down-ice to the southeast. This potential source area remains undrilled;

  • Presence of multiple drilling gaps extending over hundreds of metres; and,

  • Presence of several undrilled linear Artificial Intelligence targets to the north of the NW Zone (see Figure 2 and press release from November 30, 2020).

The Company expects to complete a total of approximately 117 line km during this IP program including the area shown in Figure 2. A second grid to be tested will include a new target located approximately 2.2 km southeast of the P8 Target (shown in Figure 1), and a third grid located about 9 km to the southwest of the P8 Target will be surveyed to test a structural concept on the Joutel property, which is contiguous with the Douay property. The Company aims to delineate new high-priority drill targets upon the completion of the IP surveys in these three areas.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3077/71378_66246fd8b4f92bfc_002.jpg

Fig. 2: NW IP grid on total magnetic intensity background, testing lithotectonic boundary/shear zone between Central and NW Zones, as well as several Artificial Intelligence targets (white ellipses) further to the north and west of the NW zone. Note position of basal till anomaly (red dot represents hole 76955 = 256 gold grains) referred to in text; red arrow shows interpreted source region and transport distance of gold grains.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3077/71378_66246fd8b4f92bfc_002full.jpg

Grant of Stock Options

The Company has granted a total of 600,000 incentive stock options at a price of $0.385 to a Director and Officer. The Company's Equity Incentive Plan governs these incentive options, as well as the terms and conditions of their exercise, which is in accordance with policies of the TSX Venture Exchange.

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. For a complete description of protocols, please visit the Company's QA/QC page on the website.

About Maple Gold

Maple Gold Mines Ltd. controls the 357-square-kilometre Douay Gold Project located within the prolific Abitibi Greenstone Gold Belt and approximately 200 km by road north of Val d'Or, Quebec. The Project has an established gold resource with significant potential for resource expansion and new discoveries. On October 8, 2020, the Company announced the signing of a binding term sheet with Agnico Eagle Mines Limited ("Agnico") that contemplates the formation of a 50-50 joint-venture (the "JV"), which will combine Maple Gold's Douay Gold Project and Agnico's Joutel Project into a consolidated joint property package. 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:

Ms. 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 the completion of the JV and the continuation into British Columbia. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71378

News Provided by Newsfile via QuoteMedia

Challenger Exploration

Ongoing Drilling at Hualilan Solidifies Outlook for a Significant Uplift to Recently Reported Maiden MRE

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce results from recent drilling targeting extensions to the mineralisation at the Company's flagship Hualilan Gold Project, in San Juan Argentina. The results include the first drill holes that were not included in the Company’s recent maiden 2.1 million ounce AuEq1 Mineral Resource Estimate (MRE) which includes a high-grade core of 1.1 Moz at 5.6 g/t AuEq1 .

Keep reading...Show less
Top 10 Central Bank Gold Holdings (Updated 2022)

Top 10 Central Bank Gold Holdings (Updated 2022)

Global central bank gold reserves top 35,500 metric tons (MT), approximately one-fifth of all the gold ever mined. The vast majority of central bank gold holdings were acquired in the last decade, when national banks became net buyers of the yellow metal.

Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. In its most recent annual survey released in June 2022, the World Gold Council (WGC) said that 61 percent of central bankers expect global gold reserves to increase over the next 12 months. Nearly three-quarters of respondents cited the precious metal’s “long-term store of value” as a guiding factor in gold purchases.

Central banks added 463 MT of gold to their vaults in 2021, signaling a significant turnaround in demand after the 255 MT decade low experienced in 2020.

Keep reading...Show less
gold bar with stock chart

VIDEO — Adrian Day: Recession, Stagflation, Crash? Where We're Going, What it Means for Gold

Adrian Day: Recession, Stagflation, Crash? Where We're Going, What it Means for Goldyoutu.be

The US Federal Reserve hiked interest rates by 75 basis points last week in its ongoing fight against inflation, amping up its efforts to tame prices and leaving market watchers wondering what's next.

Speaking just ahead of the central bank's meeting, Adrian Day, president of Adrian Day Asset Management, said usually the Fed starts out hawkish and then backs off. But this time around the opposite is happening.

This is due to various factors, but US President Joe Biden's recent meeting with Fed Chair Jerome Powell is among them — in their discussion, Biden expressed that inflation is the Fed's responsibility.

Keep reading...Show less
Blue Star Gold

Dr. Georg Josef Pollert Announces an Increase in His Ownership of the Common Shares of Blue Star Gold Corp.

Dr. Georg Josef Pollert (the "Acquiror"), a director of Blue Star Gold Corp. (the "Company") announces that, on June 23, 2022, he has acquired ownership of 3,077,000 common shares in the capital of the Company ("Shares") at a price of $0.65 per Share. The Shares were issued in connection with the closing of a non-brokered private placement carried out by the Company (the "Private Placement").

Prior to the acquisition of Shares under the Private Placement, the Acquiror held 24,284,961 Shares, 200,000 Stock Options and 1,250,000 Share Purchase Warrants and the Acquiror's non-diluted shareholdings represented approximately 45.7% of the Company's issued and outstanding Shares.

Keep reading...Show less

B2Gold Announces Voting Results from its 2022 Annual General and Special Meeting

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Wednesday, June 22, 2022 . A total of 812,572,340 common shares were voted at the Meeting, representing 76.59% of the votes attached to all outstanding common shares.

B2Gold logo (CNW Group/B2Gold Corp.)

Shareholders voted overwhelmingly in favour of all items of business before the Meeting. The nine director nominees listed in B2Gold's Management Information Circular ("the "Circular") dated May 11, 2022, were elected as directors of B2Gold to hold office for the ensuing year or until their successors are elected or appointed. Detailed results of the vote for each director are set out below:

Name

Total Votes
in Favour

Total Votes
Withheld

Outcome of
Vote

Clive Johnson

736,151,813

96.09 %

29,915,129

3.91 %

Approved

Robert Cross

709,667,695

92.64 %

56,399,248

7.36 %

Approved

Robert Gayton

700,910,563

91.49 %

65,156,380

8.51 %

Approved

Jerry Korpan

719,751,227

93.95 %

46,315,715

6.05 %

Approved

Bongani Mtshisi

762,480,309

99.53 %

3,586,634

0.47 %

Approved

Kevin Bullock

763,103,938

99.61 %

2,963,005

0.39 %

Approved

George Johnson

763,543,292

99.67 %

2,523,650

0.33 %

Approved

Robin Weisman

692,770,896

90.43 %

73,296,046

9.57 %

Approved

Liane Kelly

723,856,744

94.49 %

42,210,199

5.51 %

Approved

The resolutions to set the number of directors of the Company at nine and to appoint PricewaterhouseCoopers LLP as auditor of the Company were approved with 99.65% and 99.47%, respectively, of votes cast in favour.

The resolution regarding the Advisory Vote on Company's approach to Executive Compensation was approved with 80.36% of votes cast in favour.

A report on all items of business voted on at the Meeting will be filed on SEDAR at www.sedar.com .

Webcast/Dial-in Playback Details

A playback of the Meeting will be available until Wednesday, July 6, 2022 , on B2Gold's events page or by dialing +1 416-764-8677 (local – Toronto) or +1 888-390-0541 (toll free – North America) (passcode 420261#).

About B2Gold Corp.

B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada . Founded in 2007, today, B2Gold has operating gold mines in Mali , Namibia and the Philippines and numerous exploration and development projects in various countries including Mali , Colombia , Finland and Uzbekistan .

On Behalf of B2GOLD CORP.
"Clive T. Johnson"
President & Chief Executive Officer

For more information on B2Gold, please visit the Company's website at www.b2gold.com or contact:

Randall Chatwin
SVP, Legal & Corporate Communications

+1 604-681-8371

rchatwin @ b2gold.com

Cherry DeGeer
Director, Corporate Communications
+1 604-681-8371
cdegeer@b2gold.com

The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/b2gold-announces-voting-results-from-its-2022-annual-general-and-special-meeting-301573625.html

SOURCE B2Gold Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/22/c4774.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×