Maple Gold Mines Ltd. (TSX.V: MGM)
Announced plans for a 2,500-3,000 metre Phase I drill program based on the recently completed 3D geological and structural model at the Company’s 100% controlled Eagle Mine Property in Quebec, Canada.
The past-producing Eagle-Telbel Mine Trend, which produced 1.1 million ounces of gold between 1974 and 1993 […]
|Maple Gold||TSX.V: MGM|
|Market cap||C$95 m @ 29.5c|
Maple Gold Mines Plans First Drill Program After Completing 3D Modelling at the Eagle Mine Property
Vancouver, British Columbia–(Newsfile Corp. – October 7, 2021) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce plans for a 2,500-3,000 metre (“m”) Phase I drill program based on the recently completed 3D geological and structural model at the Company’s 100% controlled Eagle Mine Property (“Eagle”) in Quebec, Canada.
Eagle is a 77-hectare property that hosts the historical Eagle Mine and covers a key segment of the past-producing Eagle-Telbel Mine Trend, which produced 1.1 million ounces of gold between 1974 and 1993 under much lower gold prices than those prevailing today. Eagle is not currently a part of the Joutel Gold Project (“Joutel”) that is held by a 50-50 joint venture (“JV”) between the Company and Agnico Eagle Mines Limited (“Agnico”).
- Results indicate an opportunity to extend mineralization beyond the mined-out stopes and along observed sub-parallel gold trends that were never mined nor adequately tested.
- Significant historical drill intercepts adjacent to areas that have seen only limited drilling to-date (e.g. 32.9 g/t gold (“Au”) over 10.4 m, 16.2 g/t Au over 9.0 m and 10.2 g/t Au over 10.2 m) all point to the high-grade gold mineralization potentially remaining at Eagle.
- The Company’s 3D modelling and grade contouring work has identified numerous high priority drill targets, several of which will be tested as part of a planned 2,500-3,000 metre Phase I drill program expected to commence in Q4 2021.
Maple Gold management comments
“When combined with the previously released 3D model results from the Telbel Mine area (see August 16, 2021 news release), these latest results from Eagle highlight the potential for near-mine extensions along the entire Eagle-Telbel Mine Trend as well as along sub-parallel target trends.
“Acquiring this strategic ground that hosted Agnico’s first gold mining operation with the benefit of an extensive drilling database and modern tools will allow us to effectively test high priority target areas that have seen only limited exploration activity since mine closure in 1993.”
Fred Speidel, VP Exploration of Maple Gold
Phase 1 Drill Targeting
Results from the Company’s initial 3D model grade contouring work at Eagle demonstrate the potential for relatively shallow mineral resources to be defined through further confirmation drilling as well as the untested potential below the previously mined-out areas.
The Eagle longitudinal section has also identified district-scale and deposit-scale southeast plunges of mineralization similar to those interpreted at Telbel as well as potential intersections at depth with interpreted deposit-scale cross-plunges.
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 firstname.lastname@example.org
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 holds shares in Maple Gold Mines bought in the market at the prevailing price on the day of purchase.