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
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