Maple Gold Mines (TSX.V: MGM)
Reported complete gold assay results (multi-element assay results remain pending) from the first phase of deep drilling at the Telbel Mine area of the Joutel Gold Project located in Québec, Canada, which is a 50/50 JV between the Company and Agnico Eagle Mines.
.
.
| Maple Gold | TSX.V: MGM |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$57 m @ 17.5c |
| Location | Quebec, Canada |
.
MAPLE GOLD INTERSECTS 5.8 G/T GOLD OVER 2 METRES WITHIN 3.9 G/T GOLD OVER 4.5 METRES, AND UP TO 11.1 G/T GOLD MORE THAN 500 METRES BENEATH HISTORICAL TELBEL MINE AT JOUTEL
.
Vancouver, British Columbia–(Newsfile Corp. – June 6, 2023) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report complete gold (“Au”) assay results (multi-element assay results remain pending) from the first phase of deep drilling at the Telbel Mine area (“Telbel”) of the Joutel Gold Project (“Joutel”) located in Québec, 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 7,343 metres (“m”) in three (3) master drill holes and four (4) wedge drill holes, with TB-22-001 and TB-22-003 (and their respective wedges) testing the modeled down-plunge extension of gold mineralization beneath the historical Telbel workings. TB-22-002 (and its wedge) was a step-out to test the southeast continuity of the Eagle-Telbel system (see Figure 1).
.
Highlighted Results and Key Takeaways:
- All three (3) holes intersected significant horizons of semi-massive to massive sulfides, with TB-23-003W2 intersecting significant gold mineralization approximately 575 m below the lowest level of historical mining at Telbel.
- TB-23-003W2 intersected 3.5 grams per tonne (“g/t“) Au over 4.8 m (from 2,018.2 m downhole), including 5.2 g/t Au over 2.0 m and 11.1 g/t Au over 0.5 m in semi-massive to massive pyrite. An additional intercept returned 3.9 g/t Au over 4.5 m in a pyrite-Fe-carbonate zone near the end of the hole (from 2,044.4 m), including 5.8 g/t Au over 2.0 m and 7.6 g/t Au over 1.0 m (see Figure 2 and Plates 1 and 2). These results indicate that gold mineralization is present well below the limits of historical mining in this area.
- While the majority of historical sulfide intercepts are located along or near the known Eagle-Telbel Mine Horizon, both TB-23-003 wedges intersected broader semi-massive pyrite intervals (up to 100 m downhole thickness), within which multiple lower-grade (up to 35 m thick and up to 1.1 g/t Au; see Table 1) intercepts were returned approximately 550 m up-hole from the intercepts noted above (see Figure 3). This lower-grade gold mineralization in semi-massive sulfide could represent the edges of a new zone and confirms that gold mineralization is not limited to a single stratigraphic interval (see Figure 1).
- The longest hole, TB-23-002AW1, was drilled to 2,242.0 m, and ended in sulfide mineralization, with anomalous gold grades increasing downhole; the hole may have ended on the edge of a more significant sulfide body. Shallower nearby historical holes have shown significant sulfide concentrations in this area (see Figure 3).
.
.
Matthew Hornor, President and CEO of Maple Gold stated;
“This first phase of deep drilling at Telbel demonstrates the presence of high-grade gold mineralization beneath the underground mine workings and the deepest historical gold intercepts at Telbel.
“Two drill holes also essentially bottomed in mineralization, which indicates the potential for additional gold intercepts with modest drill hole extensions.
“The upper zone of lower-grade semi-massive pyrite in both TB-23-003W1 and -W2 also provide us with proof-of-concept for multiple additional broader zones of gold mineralization located in sparsely drilled areas with both grade and volume potential.”
.
To read the full news release, please click HERE
.
=======
.
If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
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 andrew@city-investors-circle.com
.
=======
,
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.
.
.
Disclosure
At the time of writing the author holds no shares in Maple Gold
.