Maple Gold Mines Ltd. (TSX.V: MGM)
Announced that, further to the Company’s news release on October 7, 2022, two additional drill rigs have been secured, bringing the number of rigs at site up to five in total.
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Maple Gold Douay Mine
MAPLE GOLD RAMPS UP WINTER EXPLORATION ACTIVITIES WITH FIVE DRILL RIGS NOW MOBILIZED AT EAGLE AND JOUTEL
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Vancouver, British Columbia–(Newsfile Corp. – December 1, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce that, further to the Company’s news release on October 7, 2022, two (2) additional drill rigs have been secured, bringing the number of rigs at site up to five (5) in total.
The additional rigs will help to complete the previously announced 6,000 metre (“m”) deep drilling program in the Telbel mine area (“Telbel”) at the Joutel Project (“Joutel”), which is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited, as well as initiate the previously announced 10,000 m deep drilling program at the JV’s Douay Project (“Douay”) in the coming weeks.
Three (3) drill rigs are currently turning at the Company’s 100%-controlled Eagle Mine Property (“Eagle”), where the previously announced 5,000 m Phase III drill program is expected to be completed by year-end.
A fourth drill rig was added in late October and continues to drill at Telbel. The fifth drill rig has arrived at site and been mobilized to Telbel, where the Company expects to complete the 6,000 m program by January 2023.
As drill rigs become available from Eagle and Telbel, they will be relocated to Douay and the Company anticipates having all five (5) drill rigs turning at Douay during Q1/2023 to expedite the 10,000 m deep drilling program.
The Company has now released assay results corresponding to approximately 13,300 m of 2022 drilling across Eagle and Douay, with approximately 10,300 m of additional drilling completed to-date at Eagle and Telbel.
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Stated Matthew Hornor, President and CEO of Maple Gold.
“With five drill rigs actively turning on our Québec projects, the Company remains on track to meet our targeted 2022 drill metreage.
“We look forward to additional results from drilling at Eagle and Telbel and to commencing the deep drill program at Douay to test potential depth extensions below the current pit-constrained mineral resource as soon as drill rigs from Eagle and Telbel become available.”
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To read the full news release, please click HERE
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