Vancouver, British Columbia–(Newsfile Corp. – November 30, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) reports results from drilling completed at the Douay Gold Project (“Douay”) during H1/2022. Douay is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited. The JV’s first year of drilling focused primarily on infill and local step-out drilling, which resulted in positive conversion (21% increase) from inferred mineral resources to indicated mineral resources (SLR 2022 vs RPA 2019) and incremental mineral resource gains within the known Douay mineral resource area. The JV’s second year has focused on additional step-outs, deep drilling, and discovery targets, with the same growth-oriented approach expected in year three to better define the full extent and potential of the mineralized system at Douay.
The Company has now received all assay results for 2022 drilling to-date at Douay, which included 11 drillholes plus two drillhole extensions for approximately 7,800 metres (“m”). An additional ~10,000 m of drilling has been completed at the Eagle and Telbel mine areas with assays pending.
Highlights from the H1/2022 Exploration Drilling at Douay:
- Ten of the twelve holes returned intercepts over 0.45 g/t Au, and seven of these returned intercepts over 1 g/t Au.
- Nika Zone step-out DO-22-322A intersected 9.8 g/t Au over 1 m starting from 584 m downhole, as well as multiple additional intercepts including 0.8 g/t Au over 10 m and 1.6 g/t Au over 2 m further downhole; these intercepts occur 250-600m vertically below the base of the Nika pit, with no nearby drilling. This entire interval is strongly altered and foliated and appears to confirm depth continuity of the intrusive-hydrothermal gold system at Douay.
- Douay West step-out hole DO-22-324 intersected 4.1 g/t Au over 0.6 m from 505.6 m; it also returned the deepest intercept yet on the property of 1.2 g/t Au over 1.0 m at 1,139 m downhole, near end of hole, downdip of the Nika Zone, again with no nearby drilling. The Company plans to deepen this hole to about 1,500 m.
- Additional sediment-hosted gold showings at the NE IP Target include 3.3 g/t Au over 0.7 m from 155 m downhole and 2.2 g/t Au over 1 m from 322.7m downhole in DO-22-328; the latter forming part of a ~200m (downhole length) altered and pyritic sedimentary interval including a distinctive fine conglomerate with red jasper fragments. This provides further support for a new gold zone 4 km to the NE of the current Douay mineral resource area, open laterally and at depth.
- Central Zone area hole DO-22-326 (collared 375 m from the nearest historical hole) returned four intercepts over 1 g/t Au, with the best being 3.0 g/t Au over 1.0 m from only 67 m downhole, further showing gold potential in the sparsely drilled Taibi sedimentary domain.
“The Company understands that step-out and discovery drilling may be inherently higher risk than infill drilling, but the reward can be game-changing on successes,” stated Fred Speidel, VP Exploration of Maple Gold. “With that in mind, the Company views the H1/2022 drilling results at Douay as positive from an exploration perspective, particularly regarding sediment-hosted gold mineralization north of the Casa Berardi North Fault, where there is still only very limited drilling: there is a drilling gap of over 7 km between the NW Zone and NE IP target, and multiple drilling gaps of up to approximately 700 m adjacent to the Central Zone. In addition, the H1/2022 drilling campaign also confirmed depth continuity of the intrusive-hydrothermal gold system at Douay; we look forward to initiating the 10,000 m deep drilling program at Douay in the coming weeks.”
The NE IP Target clearly stands out as a cluster of sediment-hosted gold anomalies, including several intervals above 1 g/t Au (see Figure 1 below). This is consistent with a kilometric sulfide system originally defined by geophysics, and now confirmed by drilling. Seven holes have been drilled so far over a strike distance of approximately 1.2 km; the system is open to the WSW, ENE and to depth. Multi-element assays are pending and will provide data for additional vectoring for subsequent drilling in this area.
Similarly, the current Central Zone conceptual pit only covers approximately 350 m of strike along the Casa Berardi North Fault, but known gold mineralization occurs over at least 1,400 m, open to the east and to the west (Fig. 1). There are several drilling gaps, notably a gap of 700-800 m to the east and about 700 m to the NW, and in general drill spacing in this area is between 100-200 m.
At Nika, the 9.8 g/t Au over 1 m intercept in DO-22-322A occurs approximately 250 m below base of pit and also about 310 m below the original discovery hole (DO-18-218, see press release of May 14, 2018). This discovery intercept, and a later even better intercept (DO-21-282X, see press release of May 26, 2021), form the core of the Nika Zone. There is no further drilling beneath or adjacent to DO-22-322A. Nika and the western part of the Porphyry Zone are currently interpreted to form the center of the Douay intrusive-hydrothermal gold system and upcoming deeper drilling will test for potential feeders in this area.
Figure 1: Drill plan showing winter 2022 drill collars, favorable structures with drill intercepts illustrating district-scale mineralization trends extending well beyond current conceptual pits. Except for DO-22-326, all winter 2022 holes were drilled northerly.
To view an enhanced version of Figure 1, please visit:
Table of results appended on following page.
Table 1: Drill Results Highlights (Douay H1/2022 drilling)
|Hole||Zone||UTME||UTMN||Azimuth||Plunge||Length (m)||From||To||Interval (m)||Au g/t|
All reported intercepts are downhole core lengths. Holes started in December 2021 and completed in January 2022 are not reported here. Given the nature of these holes, true widths are not known but are estimated to be 70-90% of downhole lengths.
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, ALS 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 page on the website.
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 Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km² of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.
The district-scale property package 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.
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
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.
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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