Orla Mining Stake Sold By Agnico Eagle

Orla Mining (TSX: OLA)

Agnico Eagle Mines sold 38,002,589 common shares of Orla Mining (OLA) to multiple buyers at a price of $14.75 per share realizing $560,538,188.

Agnico no longer has a holding in OLA.

 

 

.

Orla Mining Camino Rojo plant

Heap leach pad, Solution pond, and Merrill-Crowe plant – Credits Orla Mining

 

 

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$5.16 billion   @ C$15.85
Location Mexico + Nevada + Canada 
Website www.orlamining.com

 

 

.

Orla Mining Stake Sold By Agnico Eagle

 

.

Orla Mining (TSX: OLA)

Agnico Eagle Mines sold 38,002,589 common shares of Orla Mining to multiple buyers at a price of $14.75 per share realizing $560,538,188.

Agnico no longer has a holding in Orla Mining.

.

To read the full news release, please click HERE

 

.=======

 

The live gold price can be found HERE

.

=======

.

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 shares in Orla Mining.

.



O3 Mining to be Acquired By Agnico Eagle in Friendly Transaction

O3 Mining Inc. (TSXV: OIII)

O3 Mining and  Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) are pleased to jointly announce that they have entered into a definitive support agreement, pursuant to which Agnico Eagle has agreed to offer to acquire, directly or indirectly, all of the outstanding common shares of O3 Mining at $1.67 per Common Share, a %8% premium.

 

 

.

O3 Mining

 

 

.

 

 

Comment

Well this is one acquisition that doesn’t surprise me.

I met with O3 Mining’s Jose Vizquerra earler this year and it was obvious he was looking for an acquirer with a degree of urgency, and he expressed disappointment that a bid hadn’t been forthcoming.

The proximity to Agnico Eagle’s Canadian Malartic mine made it a shoe in. The only surprise is possibly why this bid took so long in coming?

O3 looked to have gone as far forward as it could, and needed someone with much deeper pockets to take it on and move the project forwards. The company had lost traction and an acquisition was the logical move to realise the potential.

Agnico Eagle is the Rolls Royce of mining companies.

If Carlsberg ran a mining company, it would be Agnico Eagle.

 

=======

 

Another of our watchlist companies is taken over

 

Agnico Eagle to Acquire O3 Mining in Friendly Transaction

 

  • All cash offer of $1.67 per share representing a 58% premium to O3 Mining’s closing price on December 11, 2024
  • Offer unanimously recommended by Board and Special Committee of O3 Mining and supported by shareholders representing 22% of outstanding shares of O3 Mining

(All amounts expressed in Canadian dollars unless otherwise noted)

 

.

TORONTO,Dec. 12, 2024/CNW/ – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle“) and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF)(“O3 Mining“) are pleased to jointly announce that they have entered into a definitive support agreement (the “Definitive Agreement“), pursuant to which Agnico Eagle has agreed to offer to acquire, directly or indirectly, all of the outstanding common shares of O3 Mining (the “Common Shares“) at $1.67 per Common Share in cash by way of a take-over bid (the “Offer“).

 

The Offer is valued at approximately $204 million on a fully diluted in-the-money basis.

.

The Premium Cash Offer

The offer price of $1.67 per Common Share represents a premium of 57% to the volume weighted average price of the Common Shares on the TSX Venture Exchange for the 20-day period ended December 11, 2024 (the last trading day prior to announcement of the Offer).

O3 Mining’s primary asset is its 100%-owned Marban Alliance property located near Val d’Or, in the Abitibi region of Québec, and is adjacent to Agnico Eagle’s Canadian Malartic complex.

The Marban Alliance property includes the Marban deposit, which is an advanced exploration project that could support an open pit mining operation similar to Agnico Eagle’s Barnat open pit operations at the Canadian Malartic complex.

O3 Mining has estimated that the Marban pit contains 52.4 million tonnes of indicated mineral resources grading 1.03 g/t gold for 1.7 million ounces of gold and 1.0 million tonnes of inferred mineral resources grading 0.97 g/t gold for 32 thousand ounces of gold (effective date of February 27, 2022).

O3 Mining also owns 100% of the Alpha property and 100% of the Kinebik property.

The potential integration of the Marban Alliance property to the Canadian Malartic land package will create significant and unique synergies by leveraging Agnico Eagle’s regional operational expertise and existing infrastructure, including the Canadian Malartic mill and existing open pit workforce and equipment fleet.

 

.

 

O3 Mining’s President and CEO, Mr. José Vizquerra commented:

“The all-cash offer at a significant premium to market is an excellent outcome for our shareholders and is validation of the efforts made by the O3 Mining team.

 

“Having diligently advanced the Marban Alliance project over the past five years, the timing is right for O3 Mining to sell to a more experienced operator that can efficiently navigate the project through permitting and construction.

 

“This represents a substantial non-dilutive alternative to shareholders. We believe Agnico Eagle is the gold standard in the precious metals space – it not only has the financial strength and the mining expertise to advance the Marban Alliance project, but shares our commitment to work in partnership with stakeholders in a socially responsible manner.

 

“Today’s Offer represents a significant milestone for O3 Mining, and I would like to thank our employees, shareholders, First Nations partners, community partners and the Province of Québec for their support over the years.”

.

.

The live gold price can be found HERE

.

=======

.

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 shares in O3 Mining.

.



Maple Gold Intersects 5.8 G/T Gold Over 2 m

 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 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

.

To read our full terms and conditions, please click HERE



Maple Gold Reports Final Assay Results at Eagle

Maple Gold Mines (TSX.V: MGM)

Reported results from the final 20% of assays that were received from the previously completed 14,720 metres of drilling at the 100%-controlled Eagle Mine Property.

 

.

/

Maple Gold Douay Mine, Quebec.

Maple Gold Douay Mine

 

.

Maple Gold TSX.V: MGM
Stage Exploration
Metals Gold
Market cap C$57 m   @ 17.5c
Location Quebec, Canada

 

 

Maple Gold Reports Final Assay Results at Eagle and Completes More than 7,000 Metres of Deep Drilling at Telbel

 

.

Vancouver, British Columbia–(Newsfile Corp. – April 6, 2023) – Maple Gold Mines Ltd. (TSX.V: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report results from the final 20% of assays that were received from the previously completed 14,720 metres (“m”) of drilling at the 100%-controlled Eagle Mine Property (“Eagle”).

The Company is also pleased to report that more than 7,000 m have now been completed (6,000 m planned) at the Telbel Mine area of the Joutel Project, which is held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Gold Mines Limited.

The final batch of assays received from completed drilling at Eagle correspond to approximately 3,000 m of the 14,720 m drilled to-date.

The results continue to demonstrate continuity of mineralization and the potential significance of the multiple horizons/splays to the northwest of the former Eagle mine.

.

Highlights include:

  • EM-22-008W intersected 6.2 grams per tonne (“g/t”) gold (“Au”) over 2.0 m in the South Mine Horizon (“SMH”) and 4.2 g/t Au over 3.9 m in sediments further downhole.
  • EM-22-006W1 intersected multiple intercepts including 6.5 g/t Au over 1.2 m and 2.0 g/t Au over 3.0 m in the SMH and 2.3 g/t Au over 3.0 m at the microgabbro/Harricana sediment contact further downhole.
  • EM-22-006W4 intersected 4.0 g/t Au over 0.7 m within a broader 1.1 g/t Au over 14.2 m intercept within the SMH.
  • EM-22-017A intersected 2.9 g/t Au over 2.0 m and additional lower grade over broader near-surface intervals (1.0 g/t Au over 15.5 m from 93 m downhole).

.

/

Matthew Hornor, CEO of Maple Gold stated 

“We have come along way since first consolidating the Joutel ground into our JV property package.

 

“All of our exploration and drilling work along the past-producing Eagle-Telbel mine trend is designed with the aim of defining high-grade zones of gold mineralization and additional mineral resources to complement the established potentially bulk-mineable resource present at Douay.

 

“Our first year of drilling at Eagle has more than covered our exploration spending commitments to earn a 100% interest and we are now in position to finalize our compilation and model updates to support focused follow-up drilling in areas we believe have the most promise to deliver additional high-quality ounces.”

 

/

=======

 

.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 does not hold shares in Maple Gold Mines

.

.

To read our full terms and conditions, please click HERE



Maple Gold Starts Phase 3 Drilling at Eagle

Maple Gold Mines (TSX.V: MGM)

Announced that a third drill rig has been secured to commence a 5,000 metre Phase III drill program at its 100%-controlled Eagle Mine Property.

The third rig is expected to arrive at site by mid-October, keeping the Company on track to complete approximately 30,000 m across its district-scale property in Québec by year-end.  

.

.

Maple Gold

Maple Gold project map, Quebec, Canada.

.

.

Maple Gold TSX.V: MGM
Stage Exploration
Metals Gold
Market cap C$57 m   @ 17.5c
Location Quebec, Canada

.

.

Maple Gold Secures Third Drill Rig to Commence Phase III Drilling at Eagle and Remains on Track to Complete 30,000 Metres Across Its Quebec Project Portfolio by Year-End

.

.

Vancouver, British Columbia–(Newsfile Corp. – October 7, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce that a third drill rig has been secured to commence a 5,000 metre (“m”) Phase III drill program at its 100%-controlled Eagle Mine Property (“Eagle”).

The third rig is expected to arrive at site by mid-October, keeping the Company on track to complete approximately 30,000 m across its district-scale 400 km2 property package in Québec, Canada by year-end.

Further to the Company’s news release on August 3, 2022, two (2) rigs are now turning on deep drill holes beneath and adjacent to the historical underground mine workings in the Telbel mine area (“Telbel”) at the Joutel Project (“Joutel”), which is held by a 50/50 joint venture (“JV”) between Maple Gold and Agnico Eagle Mines Limited.

In addition, the Company expects to secure a fourth drill rig in November to commence deep drilling at the JV’s Douay Project (“Douay”).

The Company is also pleased to announce that it has resolved the electrical issues at site that affected its core saws, effectively removing its core cutting backlog and enabling several large batches of samples from previously completed drilling to be sent to the assay labs.

.

.

 Matthew Hornor, President and CEO of Maple Gold stated;

“We are excited to commence Phase III drilling at Eagle that will follow up on the best results of the first two drilling phases and test additional targets while we are also ramping up the pace of our supplemental C$4.8M deep drilling program at Douay and Joutel.

 

“With normal site operations now restored, our backlog of core splitting and sample shipments has been effectively eliminated and we anticipate additional assay results throughout Q4 2022.

 

“The Company expects to be continuously drilling more aggressive step-out and deep drill holes at Douay, Joutel and Eagle with at least three rigs from mid-October through the end of Q1 2023.”

.

Deep Drilling Progress

Deep drilling at Telbel is progressing steadily with two drill rigs actively testing the down-plunge continuity of gold mineralization in this area.

Drill hole TB-22-001 (drilled from south to north) is approaching 1,500 m downhole and has encountered a broad near-surface zone of felsic-pyroclastic-hosted pyrite mineralization enroute to a planned total downhole depth of 2,000 m.

Initial samples from TB-22-001 have already been shipped to the assay lab. Drill hole TB-22-002 (drilled from north to south) is collared 2.4 km to the east of TB-22-001 and is currently nearing 900 m downhole.

In addition, the Company anticipates commencing a ~10,000 m deep drilling program at Douay with a fourth drill rig in November. The JV has approved a combined ~16,000 m of deep drilling at Douay and Telbel under the previously announced C$4.8M increase to its Year Two exploration budget (see news from May 18, 2022).

.

New Exploration Drill hole Completed at Douay

The Company has also recently completed a new 534 m exploration drill hole at Douay (DO-22-330) collared approximately four (4) km south of the 531 Zone along the regional Casa Berardi South Fault, locally known as the Joutel Deformation Zone (“JDZ”) (see Figure 1).

The JDZ has seen very limited drilling to-date in this area, with only a single historical drill hole over a nine (9) km segment of this structural corridor.

The Company’s recently completed airborne magnetic and electromagnetic (“Mag-EM”) survey identified several conductive targets along trend to the southwest on the Joutel property (see news from July 19, 2022) providing further support for the JDZ as a favourable structural corridor for hosting gold mineralization.

Initial drill core observations from DO-22-330 highlight the potential for Casa-Berardi style gold mineralization associated with brecciated and pyritic quartz veins in graphitic fault zones.

.

For brevity, this summary has been redacted, 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.

.

.

To read our full terms and conditions, please click HERE



Maple Gold Mines Adds a Second Rig at Douay

Maple Gold Mines Ltd. (TSX.V: MGM)

Announced that the 50/50 joint venture between the Company and Agnico Eagle Mines Ltd. has added a second rig to the JV’s Autumn 2021 drill program at the Douay Gold Project in Québec, Canada.

 

.

Maple Gold TSX.V: MGM
Stage Exploration
Metals Gold
Market cap C$109 m   @ 32.5c
Location Quebec, Canada

 

 

Maple Gold Douay Mine, Quebec.

Maple Gold Douay Mine, Abitibi Gold Belt, Quebec

.

MAPLE GOLD ADDS A SECOND DRILL RIG AT DOUAY, PREPARES FOR PHASE I DRILLING AT EAGLE, AND ANNOUNCES BOARD CHANGES

.

Vancouver, British Columbia–(Newsfile Corp. – December 14, 2021) – Maple Gold Mines Ltd. (TSX.V: MGM) (OTCQB: MGMLF) (FSE: M3G)(“Maple Gold” or the “Company“) is pleased to announce that the 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited has added a second rig to the JV’s Autumn 2021 drill program at the Douay Gold Project (“Douay”) (see news from November 15, 2021) in Québec, Canada.

In addition, a planned Phase I drill program at the Company’s 100%-controlled Eagle Mine Property (“Eagle”) (see HERE) is now expected to commence in January 2022 following a short holiday break.

The Company is also pleased to appoint veteran entrepreneur and current Maple Gold board director Michelle Roth as Independent Non-Executive Chair.

.

Maple Gold Mines management comments

“We are pleased to have secured a second rig to accelerate completion of the Autumn 2021 drill program and in anticipation of ramping up our exploration activities in Q1 2022

 

“It is an exciting time for Maple Gold with two rigs now available to complete up to 20,000 meters of planned drilling across our ~400 km² property package, including testing high priority targets at Eagle in a matter of weeks.

 

“I would also like to welcome Michelle Roth as the Company’s next Chairperson, while thanking Sean Charland for having served so ably in that role since 2020.

 

“Michelle’s extensive experience across both the private and public sectors strengthens our senior leadership and corporate governance at a key inflection point in the Company’s growth trajectory.”

Matthew Hornor, President and CEO of Maple Gold Mines.

.

Autumn 2021 Drilling Update

The Autumn 2021 drill holes at Douay (see Figure 1 for hole locations) are primarily step-out targets designed to test the strike continuity and expansion potential of some of the better intercepts from recent drill programs in the Nika, Central and 531 Zones.

The first rig, which commenced drilling in early November, has already completed drill holes DO-21-313 (Nika Zone), DO-21-315 (Central Zone), DO-21-316 and DO-21-317 (both in the 531 Zone), and is currently drilling DO-21-319 (531 Zone).

The second rig has completed DO-21-318 (Central Zone) and is currently drilling DO-21-314 (Nika Zone).

A total of 2,661 metres (“m”) have been drilled out of 2,750 m planned as part of the Autumn 2021 drill program. The first 845 samples, including all of drill hole DO-21-313 in the Nika Zone, were shipped to ALS Labs on November 26, 2021.

Given the encouraging observations from initial drill core, the second rig has been mobilized to continue testing additional step-out targets as part of the Autumn 2021 drill program at Douay.

Of particular focus are: 1) mineralized horizons extending to the southeast from this year’s 1.6 g/t gold (“Au”) over 132 m intercept in the Nika Zone (see news from May 26, 2021); 2) areas down- and up-plunge from this year’s 8.8 g/t Au over 28.5 m intercept in the 531 Zone (see news from September 9, 2021); and 3) over 700 m of undrilled strike extending to the east-southeast of the Central Zone as currently defined.

.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3077/107616_83d59fd2147c481b_001.jpg

.

Figure 1: Drill hole locations for Autumn 2021 drill program at Douay

To view an enhanced version of this graphic, please click HERE

.

Phase I Drilling at Eagle

Phase I drilling at Eagle is now expected to commence in January 2022 following a short holiday break. Initial Eagle drill permits have been received with additional permit requests pending.

The Company expects to keep one drill rig in the Eagle area to complete the Phase I drill program, after which it will be available to commence drilling in the Telbel mine area.

Additional details on the Phase I drill program at Eagle and the JV’s planned Winter 2022 drill campaign will be released in the coming weeks.

.

New Independent Non-Executive Chair

Michelle Roth has served as an Independent Director of Maple Gold since November 2020 and currently serves as Chair of both the Audit and Nominating & Corporate Governance Committees as well as a member of the Compensation Committee.

She is the founder and CEO of Roth Investor Relations, which provides shareholder engagement solutions to a worldwide client base including mining industry clients with operations in North America, Australia, Africa, Europe and South America.

Ms. Roth also acts as a strategic advisor to Nova Royalty and to a privately held cell tower infrastructure / IT managed services company, where she has advised on growth opportunities during the pandemic.

 

About Maple Gold Mines

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec’s prolific Abitibi Greenstone Gold Belt.

In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

.

For brevity, this summary has been redacted, to read the full news release, please click HERE

.

=======

.

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 publishing the author holds shares in Orla Mining, bought in the market at the prevailing price on the day of purchase.

.

To read our full terms and conditions, please click HERE

 

.



Maple Gold Mines Closes C$7 million Bought Deal

Maple Gold Mines (TSX.V: MGM)

Announced that the Company has completed a “bought deal” brokered private placement of 13,020,000 common shares in the capital of the Company that will qualify as “flow-through shares” at a price of $0.54 per FT Share for gross proceeds of C$7,030,800.

 

.

Maple Gold TSX.V: MGM
Stage Exploration
Metals Gold
Market cap C$109 m   @ 32.5c
Location Quebec, Canada

 

 

.

Maple Gold Mines geology map

Maple Gold Mines geology map

 

.

Comment

Once again a Canadian company completes a flow through financing, which is good for them, as they collect money easily, and good for Canadian shareholders, whose risk is eliminated with the tax benefits they derive from flow through, but bad for us non Canadian shareholders.

The only compensation is that, in this particular case, the placing price was substantially higher than the current share price, minimising the dilution for those of us not able to benefit from these generous tax write offs.

.

MAPLE GOLD MINES CLOSES C$7 MILLION BOUGHT DEAL FINANCING, INCLUDING FULL EXERCISE OF THE UNDERWRITERS’ OPTION

Vancouver, British Columbia–(Newsfile Corp. – December 9, 2021) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G)(“Maple Gold” or the “Company“) is pleased to announce that further to its news release on November 18, 2021, the Company has completed a “bought deal” brokered private placement (the “Offering”) of 13,020,000 common shares in the capital of the Company that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)) (the “FT Shares”) at a price of $0.54 per FT Share (the “Issue Price”) for gross proceeds of C$7,030,800, including 3,720,000 FT Shares issued in connection with the exercise in full of the underwriters’ option granted to Cormark Securities Inc. and Agentis Capital Markets Canada LP (together, the “Underwriters”) under the Offering.

The Offering received support from new investors as well as existing shareholders, including Agnico Eagle Mines Limited.

Strong demand for the Offering resulted in the full exercise of the underwriters’ option for additional gross proceeds of over C$2 million.

.

Maple Gold Mines management comments

“I would like to thank all of our new and existing shareholders for their strong endorsement of Maple Gold’s district-scale gold potential and planned exploration activities across our Québec project portfolio.

 

“With the closing of this financing, the Company is heading into the winter exploration season with an even healthier treasury that will enable us to ramp up drilling throughout 2022, including at our 100%-controlled Eagle Mine Property.

 

“The gross proceeds from the issuance of the FT Shares will be used to fund Canadian exploration expenses and will qualify as “flow-through mining expenditures” (within the meaning of the Income Tax Act(Canada) and the Taxation Act(Québec)) related to the Company’s projects in Québec on or prior to December 31, 2022 for renunciation to subscribers of FT Shares effective December 31, 2021.”

Matthew Hornor, President and CEO of Maple Gold Mines

 

The Offering remains subject to final acceptance by the TSX Venture Exchange. All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof.

/

About Maple Gold Mines

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec’s prolific Abitibi Greenstone Gold Belt.

The projects benefit from exceptional infrastructure access and boast ~400 km2of highly prospective ground including an established gold resource at Douay (RPA 2019) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel.

In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

 

For more information, please click HERE

.

For brevity, this summary has been redacted, to read the full news release, please click HERE

.

=======

.

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 publishing the author holds shares in Maple Gold Mining, bought in the market at the prevailing price on the day of purchase .

.

To read our full terms and conditions, please click HERE

 

 

.