Maple Gold Mines Ltd. (TSX.V: MGM)
Reported final assay results from the autumn 2021 drill program at the Company’s Douay Gold Project in Quebec, Canada. (50/50 JV with Agnico Eagle Mines).
The JV completed a total of seven holes and roughly 3,420 m, with every hole intersecting multiple intervals of >1 gram per tonne gold/ […]
|Maple Gold||TSX.V: MGM|
|Market cap||C$87 m @ 26c|
MAPLE GOLD REPORTS FALL 2021 DRILL RESULTS AT DOUAY, INCLUDING 4.63 G/T GOLD OVER 6.7 METRES WITHIN 1.54 G/T GOLD OVER 32.2 METRES AT THE 531 ZONE, AND MAKES EQUITY INCENTIVE PLAN GRANTS
Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report final assay results from the Fall 2021 drill program at the Company’s Douay Gold Project (“Douay” or the “Project”) in Quebec, Canada, which is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited.
The JV completed a total of seven (7) holes and roughly 3,420 metres (“m”) under the Fall 2021 drill program, with every hole intersecting multiple intervals of >1 gram per tonne gold (“g/t Au”).
- Drill hole DO-21-316 at the 531 Zone intersected1.54 g/t Auover 32.2 m(from 430.0 m downhole), including4.63 g/t Au over 6.7 mwithin2.13 g/t Au over 18.9 m.
- DO-21-316 intercepts are located approximately 135 m down-plunge from the best intercept drilled to-date at the 531 Zone (DO-21-310; see news from September 9, 2021) and below the SLR 2022 NI43-101 Mineral Resource Estimate (“SLR 2022”) conceptual pit limits, indicatingdown-plunge continuity of high-grade mineralized trendsandresource expansion potential at depthin the 531 Zone.
- Drill hole DO-21-317 intersected three discrete gold zones:5.58 g/t Au over 3.0 m(from 258.0 m downhole);1.62 g/t Au over 16.0 m(from 284.0 m downhole); and3.42 g/t Au over 8.0 m(from 369.0 m downhole).
- DO-21-317 intercepts are located up-plunge relative to the DO-21-310 intercept and within a different stratigraphic horizon relative to DO-21-316 that is also favourable for gold mineralization, indicatingmultiple stacked gold zones that remain open.
Maple Gold management comments
“Our exploration team has delivered significant drill intercepts every year at the 531 Zone since 2019 when our targeting became supported by 3D modelling.
“These new intercepts further support our belief that there are multiple stacked gold zones with apparent cross-plunges that appear to be structurally controlled.
Demonstrated gold mineralization combined with a general lack of drilling has our team excited about the potential for the 531 Zone to deliver additional pit-constrained and underground resources as we continue with larger step-out and deeper drilling in 2022.”
Fred Speidel, VP Exploration of Maple Gold.
Fall 2021 Drill Program Interpretation and Summary of Results
The JV’s Fall 2021 drill program included drilling in three separate areas (see Figure 1 for drill hole locations) outlined below with corresponding objectives:
- 531 Zone (3 holes): Targeting further up-plunge and down-plunge along one of the two main interpreted mineralized trends (see Figure 2).
- Central Zone (2 holes): Located 450 m and 650 m east of the SLR 2022 Central Zone conceptual pit and designed to test the eastern continuity of sediment-hosted gold mineralization and support further drilling along a 700 m drilling gap (see Figure 1).
- Nika Zone / Porphyry Zone Gap Area (2 holes): The Porphyry Zone and Nika Zone are geologically similar and these two drill holes were drilled in the gap area between these two zones and their respective SLR 2022 conceptual pits.
Figure 1: Douay plan view map highlighting Fall 2021 drill hole locations
To view an enhanced version of Figure 1, please click HERE
For brevity, this summary has been redacted, to read the full news release, please click HERE
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