Maple Gold Mines (TSX.V: MGM)
Announced the completion of the first phase of deep drilling at the Company’s Douay and Joutel Gold Projects located in Quebec, Canada, which are held by a 50/50 JV between the Company and Agnico Eagle Mines Limited.
The JV completed more than 13,100 metres (“m”) of drilling across Douay and Joutel prior to winter break-up.
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| Maple Gold | TSX.V: MGM |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$57 m @ 17.5c |
| Location | Quebec, Canada |
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Maple Gold Completes First Phase of JV Deep Drilling at Douay and Joutel
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Vancouver, British Columbia–(Newsfile Corp. – April 27, 2023) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce the completion of the first phase of deep drilling at the Company’s Douay and Joutel Gold Projects (“Douay” and “Joutel”, respectively) located in Quebec, Canada, which are held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited.
The JV completed more than 13,100 metres (“m”) of drilling across Douay and Joutel prior to winter break-up.
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Deep Drilling Program Summary and Observations:
- In the Telbel mine area at Joutel, the JV drilled a total of 7,343 m in three (3) master drill holes and four (4) successful wedge drill holes.
- All Telbel drill holes intersected broad zones of semi-massive to massive sulfide mineralization.
- Drill hole TB-22-003 and its associated wedges intersected three mineralized zones and bottomed in mineralization, with sphalerite observed in drill core and elevated zinc values observed via pXRF analysis at site.
- At Douay, the JV drilled a total of 5,792 m in five (5) drill holes testing beneath the Douay West, Porphyry, Central and 531 Zones, as well as one (1) shallow NW Zone step-out hole.
- The most compelling visual core observations at Douay were in the final hole (DO-23-326X), collared near the Central Zone and extending beneath the Porphyry Zone at depth), with significant alteration, deformation, and mineralization (abundant fine-grained pyrite) from approximately 850 m to 1,400 m down-hole.
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Matthew Hornor, President and CEO of Maple Gold stated
“Early indications from the JV’s first phase of deep drilling are encouraging, particularly at Telbel with the upper mineralized zones in TB-22-003, which are well north of the main Mine Horizon, and the fact that both TB-23-001W1 and TB-23-003W2 intersected the down-dip continuity of the sulfide-rich main Mine Horizon.
“Sphalerite is a key indicator of VMS style of mineralization, and we look forward to the gold and multi-element assay results from these holes with the aim of vectoring towards a significant mineralized zone at depth.
“At Douay, we are also excited by what we’ve observed in the drill core beneath the Porphyry Zone and look forward to the assay results and valuable data that this first phase of deep drilling will generate.”
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author is not a shareholder of Maple Gold Mines.
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