Maple Gold Mines Ltd. “Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.commodity-tv.com/ondemand/companies/profil/maple-gold-mines-ltd/) is pleased to report further assay results from its 2020 winter drilling campaign at the Douay Project. The western part of the Porphyry Zone is a high priority area for the Company, given the broad zones of relatively shallow mineralization with demonstrated continuity, higher than deposit average grades, existing indicated resources (RPA 2019) and remaining drilling gaps in the area. The Company’s latest drill hole (DO-20-281) cut mineralization over 164 metres starting from 108m downhole (about 97m vertical depth). Highlights for DO-20-281 and this western part of the Porphyry Zone are given below:
New assay results from DO-20-281 build on those recently reported from DO-20-280 and DO-20-283 (see press release May 27, 2020, Fig. 1 and Fig. 2, and Table 1 below), as well as those from historical holes 70586, DO-11-33, and DO-12-97 (see Fig. 2 and Table 2). These holes show some of the longest intercepts anywhere on the property. Note that the mineralized envelope in DO-20-281 extends well below the reported intercept (Fig. 2). Indicated resources (RPA 2019) shown in Fig. 2 and Fig. 3 are still limited due to previously sparse drilling; the maximum projection distance from any given hole for the indicated category is 50-60 metres (RPA, 2019).
Click the following link to view the latest drill results in 3D: https://bit.ly/2UtmyfP
Mineralization in the western part of the Porphyry Zone is mostly intrusive-hosted, with sulphide mineralization often associated with quartz-calcite-fluorite veinlets and crackle breccias (Fig. 4). This style of mineralization is distinctive when compared to the contact style of mineralization (mixed syenite and basalt) or the structurally-controlled, basalt-hosted mineralization.
Both historical and winter 2020 drilling results support the Company’s perception that the western part of the Porphyry Zone has better-than-average mineralization; key objectives of future drilling in this area will therefore be to better define the limits of mineralization, not only to the north, but also to the east where a number of drilling gaps exist (see Fig 1), and also to upgrade inferred resources to indicated resources in this area.
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 news release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold 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 at:
http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s ~355 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource that remains open in multiple directions. For more information please visit www.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 news 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 prospective mineral potential of the Porphyry Zone, the potential for significant mineralization from other drilling in the referenced drill program and the completion of the drill program. 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. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such 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.
- DO-20-281 cut multiple gold zones, highlighted by 23 g/t Au over 75m from 108m downhole, including 15m of 1.32 g/t Au, followed by 31m of 1.61 g/t Au.
- After an intervening lower-grade zone (0.30 g/t Au over 50m), DO-20-281 intersected 0.85 g/t Au over 38m, including 1.71 g/t Au over 5m.
- DO-20-281 was collared about 130m NE of two historical drillholes (DO-11-33 and DO-12-97), which were collared about 30m apart and drilled in 2011 and 2012. Maple Gold’s new drillhole supports the updip continuity of mineralization from these historical holes, which returned 1.14 g/t Au over 62.0m, including 3.0 g/t Au over 11.5m, and 1.17 g/t over 163.5m, including 8.96 g/t Au over 9.0m respectively, uncapped for DO-12-97 (see Fig. 2 and Table 2)
- DO-20-281 also tested and supports downdip continuity of mineralization encountered in hole 70586, a historical hole found within indicated resources (RPA, 2019). That hole cut 0.98 g/t au over 13.6m from 78.3m downhole, followed by 0.87 g/t Au over 93.6m from 107.6m downhole, including 2.04 g/t Au over 14.2m.
- The Company’s 2020 drilling appears to now link up multiple intercepts (new and historical) within a much broader zone of mineralization extending from top of bedrock to the base of the current conceptual pit in this area.
New assay results from DO-20-281 build on those recently reported from DO-20-280 and DO-20-283 (see press release May 27, 2020, Fig. 1 and Fig. 2, and Table 1 below), as well as those from historical holes 70586, DO-11-33, and DO-12-97 (see Fig. 2 and Table 2). These holes show some of the longest intercepts anywhere on the property. Note that the mineralized envelope in DO-20-281 extends well below the reported intercept (Fig. 2). Indicated resources (RPA 2019) shown in Fig. 2 and Fig. 3 are still limited due to previously sparse drilling; the maximum projection distance from any given hole for the indicated category is 50-60 metres (RPA, 2019).
Click the following link to view the latest drill results in 3D: https://bit.ly/2UtmyfP
Mineralization in the western part of the Porphyry Zone is mostly intrusive-hosted, with sulphide mineralization often associated with quartz-calcite-fluorite veinlets and crackle breccias (Fig. 4). This style of mineralization is distinctive when compared to the contact style of mineralization (mixed syenite and basalt) or the structurally-controlled, basalt-hosted mineralization.
Both historical and winter 2020 drilling results support the Company’s perception that the western part of the Porphyry Zone has better-than-average mineralization; key objectives of future drilling in this area will therefore be to better define the limits of mineralization, not only to the north, but also to the east where a number of drilling gaps exist (see Fig 1), and also to upgrade inferred resources to indicated resources in this area.
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 news release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold 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 at:
http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s ~355 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource that remains open in multiple directions. For more information please visit www.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 news 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 prospective mineral potential of the Porphyry Zone, the potential for significant mineralization from other drilling in the referenced drill program and the completion of the drill program. 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. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such 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.
