Maple Gold Mines (TSX.V: MGM)
Reported initial assay results from the first drill hole of the Company’s Phase II drill program at its 100%-controlled Eagle Mine Property in Québec.
Drill hole EM-22-009 intersected 11.4 grams per tonne gold over 3 m, including 24.4 g/t Au over 1 m.
|TSX.v : MGM
|C$65 m @ 18.5c
MAPLE GOLD INTERSECTS 24.4 G/T GOLD OVER 1 METRE WITHIN 11.4 G/T GOLD OVER 3 METRES IN PHASE II DRILLING AT EAGLE AND PROVIDES OPERATIONAL AND CORPORATE UPDATES
Vancouver, British Columbia–(Newsfile Corp. – August 15, 2022) –Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G)(“Maple Gold” or the “Company“) is pleased to report initial assay results from the first drill hole of the Company’s Phase II drill program at its 100%-controlled Eagle Mine Property (“Eagle”) in Québec, Canada.
The Phase II program consisted of four (4) master diamond drill holes and one (1) daughter diamond drill hole totalling ~4,700 metres (“m”) to test potential extensions of mineralization along and beneath the past-producing, high-grade Eagle-Telbel mine trend.
The Company is also pleased to announce the appointment of Kiran Patankar as Chief Financial Officer, effective immediately.
- Drill hole EM-22-009 intersected11.4 grams per tonne gold (“g/t Au”) over 3 m,including24.4 g/t Au over 1 m,to the north of the modeled main Eagle-Telbel mine horizon in the hanging wall microgabbro (see Figure 1 for drill hole locations)
- The new EM-22-009 intercept and other notable high-grade historical intercepts hosted in the same microgabbro unit (including hole 16-77: 26.7 g/t Au over 2.5 m and hole 16-71: 26.4 g/t over 1.4 m within 14.3 g/t over 2.9 m) all point to the potential significance of this favourable structural-stratigraphic target
- Limited historical drilling in the hanging wall (see Figure 1) was not typically assayed for gold as previous operators were not focused on this mineralization style and target type
- The Company has drilled ~16,450 m out of approximately 30,000 m planned in 2022 across its Québec project portfolio; Eagle assays have now been reported for ~5,400 m (representing 59% of completed Eagle drilling).
Matthew Hornor, President and CEO of Maple Gold stated
“These initial Phase II assays include the best result thus far from our 2022 drilling at Eagle and the location of the intercept holds great significance for our exploration targeting going forward, including Phase III drilling later this year.
.”While core cutting has recently been impacted by electrical issues at site, we are implementing temporary and permanent solutions to improve efficiency and we expect the assay backlog to ease in the coming weeks.
“I am also delighted to welcome Kiran in his expanded role with the Company and we look forward to his experience as we navigate through our strategic and corporate finance initiatives.”
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