Maple Gold Mines


Advancing the Douay Gold Project in Quebec’s Abitibi Greenstone Belt

Press Releases


Maple Gold Mines (TSXV:MGM,OTCQB:MGMLF,FSE:M3G) is an advanced gold exploration company focused on the Douay gold project located in Quebec’s prolific Abitibi Greenstone belt. The company has formed a strategic partnership with Agnico Eagle Mines (TSX:AEM, NYSE:AEM) that included a C$6.2 million strategic investment at a significant premium. The partnership also contemplates for a 50-50 joint venture that will combine Maple Gold’s Douay Project and Agnico’s Joutel Project into a consolidated joint property package. Under the agreement, Agnico Eagle Mines is set to solely fund C$18 million in exploration over a four-year term. According to the press release, “Agnico and Maple Gold have agreed to negotiate in good faith and use commercially reasonable efforts to enter into a joint venture agreement (the “JV Agreement”) within three (3) months of signing the Binding Term Sheet.”

Maple Gold Mines’ Company Highlights

  • Strategic Partnership with Agnico Eagle Mines (TSX:AEM, NYSE:AEM) for a 50-50 joint venture that will combine Maple Gold’s Douay Project and Agnico’s Joutel Project
  • Flagship Douay gold project hosts an NI 43-101 gold resource of 422,000 ounces in the indicated category (8.6 Mt grading 1.52 g/t gold) and 2.35 million ounces inferred (71.2 Mt grading 1.03 g/t gold).
  • The current gold resource covers just 4% of the property package and significant potential remains for both resource expansion laterally and at depth as well as for regional discoveries.
  • The project is virtually royalty-free, with just 130,000 oz of its currently defined resource subject to a 1% NSR to IAMGOLD.
  • Abitibi Greenstone gold belt, which hosts the Douay gold project, has produced more than 200 Moz of gold to date.
  • Douay project is surrounded by exceptional infrastructure, including a two-lane highway and a high-voltage electric power line that runs through the property
  • Nearby town also provides access to a skilled labor force and significant technical infrastructure, including drill companies with competitive rates.
  • Douay offers significant potential for high-grade deposits given its proximity to high-grade mines including the Eagle-Telbel mine (1.15 Moz at 6.5 g/t gold) and the Vezza mine (500,000 oz at 6 g/t gold).
  • Maple Gold’s leadership consists of ex-Ivanhoe Mines (TSX:IVN) and Inmet Mining alumni, with directors and advisors from Ivanhoe, Inment, Wheaton PM (TSX:WPM), Goldcorp and Placer Dome.
  • Major shareholders include Agnico Eagle Mines, Caisse de Dépôt et Placement du Québec (CDPQ), SIDEX, Stephens Investment Management, Goodman Investment Counsel, PowerOne Capital and Marlborough Fund Management Ltd.
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