Maple Gold Mines Ltd. (TSX.V: MGM)
Reported results from the final nine holes completed during the 10,217-metre winter drill campaign at the Douay Gold Project in Quebec, Canada.
Douay is held by a 50/50 JV between the Company and Agnico Eagle Mines Limited.
|Maple Gold||TSX.V: MGM|
|Market cap||C$95 m @ 29.5c|
MAPLE GOLD INTERSECTS BONANZA GRADE GOLD INCLUDING 334.0 G/T GOLD OVER 1.0 METRE IN THE PORPHYRY ZONE AT DOUAY
Vancouver, British Columbia–(Newsfile Corp. – October 4, 2021) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report results from the final nine holes completed during the 10,217-metre winter drill campaign at the Douay Gold Project (“Douay” or the “Project”) in Quebec, Canada.
Douay is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited.
- Drill hole DO-21-295 intersected 334.0 g/t gold (Au) over 1.0 metre (m) (from 57.0 m downhole) within the western portion of the Porphyry Zone (see Figure 1 for drill hole locations), representing one of the highest-grade intercepts ever encountered at Douay.
- DO-21-295 also intersected 72.7 g/t Au over 0.7 m (from 358.0 m downhole), beyond the northern extent of the of the 2019 RPA NI43-101 Resource Estimate (“RPA 2019”) Porphyry Zone conceptual pit (see Figure 2).
- At the Main Zone, DO-21-304 intersected 1.5 g/t Au over 15.0 m (from 428.0 m downhole), one of the better sediment-hosted intercepts reported to date. In addition, DO-21-306 intersected 4.0 g/t over 5.0 m (from 143.0 m downhole), within a broader and more variable grade envelope that averaged 1.6 g/t over 15.0 m. Additional multi-gram gold intercepts were obtained from other drill holes in this area (see Table 1 for full results).
- The JV’s maiden drill campaign returned three of the top five intercepts ever reported at Douay in terms of gold accumulation (grade x thickness), validating the Company’s targeting methodology.
Maple Gold management comments
“Encountering multiple bonanza grade gold zones flanking either side of the Casa Berardi North Fault highlights the significant exploration potential for the sparsely-drilled northern flank of the Porphyry Zone.
“The deeper bonanza grade gold mineralization in hole DO-21-295 remains open to the east, with just a single drill hole over more than 600 m, which provides a compelling exploration target for follow up drilling.
“We are excited to build upon the impressive results from the JV’s maiden drill campaign, with drilling expected to resume in the Nika and 531 Zones in Q4 2021.”
Fred Speidel, VP Exploration Maple Gold
The Company has now reported all assay results from the winter 2021 drill campaign. An updated Douay mineral resource estimate, which will include more than 19,000 m of additional drilling since the RPA 2019 mineral resource estimate, including over 15,000 m within the current resource area, is expected to be completed in Q4 2021. Additional details regarding Q4 2021 drilling sites and plans are expected be released in the coming weeks.
Figure 1: Plan view of 2021 drill collars (new results highlighted in blue).
To view an enhanced version of Figure 1, please visit HERE
Figure 2: Oblique section looking northwest (100 m total width) highlighting DO-21-295 bonanza grade intercepts, the lowermost of which is well north of the current conceptual pit.
To view an enhanced version of Figure 2, please visit HERE
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email email@example.com
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
The writer owns shares in Maple Gold, bought in the market at the prevailing price n the day of purchase.