Montreal, Quebec--(Newsfile Corp. - July 9, 2018) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report additional drill results from the eastern half of the Porphyry Zone within the current Resource Area at the Douay Project. Within this area (see Figure 1) a total of sixteen (16) infill and step-out holes were drilled in 2018, with all assays now received. The highlighted results below are from holes that were drilled in an area with lower drill density (see Figure 1), so the opportunity exists to define additional zones further north. The main intercepts in DO-18-247 and DO-18-254 show significantly higher grades than adjacent holes, indicating that grade may increase with depth in this area.
- DO-18-247 cut several mineralized zones, including 21.0m of 3.49 g/t Au, including 6.0m of 9.32 g/t Au, both uncapped (see Figure 2A).
- DO-18-254 cut 27.5m of 1.25 g/t Au, including 2.1m of 5.36 g/t Au (see Figure 2B)
- DO-18-244 cut several mineralized zones, including 7m of 2.06 g/t Au and three others over 1 g/t Au (see Figure 2C)
In addition to the highlights mentioned above, several other drill-holes confirmed lateral and vertical continuity of mineralization (see Table 1: Highlighted Drill-Results from the Eastern Portion of the Porphyry Zone appended to this press release).
Maple Gold's President and CEO, Matthew Hornor, stated: "We continue to intersect new zones of mineralization and given the widely spaced drilling in this eastern part of the Resource Area there is still good potential to make additional discoveries with further drilling."
DO-18-247 (Figure 1 and 2A) confirmed the down-dip extension of the mineralized zones cut in historical hole DO-11-72 collared 260m to the north, with a significantly higher grade intercept in the 2018 hole as compared to historical holes. Compared to the existing block model, DO-18-247 will improve block grades, and should allow the conceptual pit to extend to greater depth. Similarly, DO-18-254 confirmed the lateral continuity of the same interpreted mineralized zone, again with higher than expected grades. The up-dip extension of this zone will require additional drilling. The DO-18-254 intercept of 27.5m averaging 1.25 g/t Au intercept is part of a broader and lower grade envelope of 61.5m averaging 0.76 g/t Au.
Fig. 1: Drill plan for eastern part of Porphyry Zone. New mineralized zone shown in pink is interpreted as drill spacing is still relatively broad in this area. Further drilling will be required to confirm and possibly extend this mineralization. Intercept average grades rounded to single decimal place for presentation purposes
To view an enhanced version of Figure 1, Please visit:
Drill-hole DO-18-244 was collared 325m to the NE of DO-18-247, and was an infill hole that confirmed continuity of mineralization between older holes. In addition, the hole also cut 4 separate high-grade zones outside the northern limits of the current blocks that are interpreted to be new zones. The nearest drill-holes testing these structures occur 141m to the west. This eastern portion of the Porphyry Zone is a geologically more complex part of the deposit. Syenite is less abundant in this area as compared to the western part of the Porphyry Zone (see Figure 2: A, B & C).
Click the following link to view Figure 2C along with larger high-resolution images for Figure 2A and 2B:
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Table 1: Highlighted 2018 Drill Results to-date from Eastern Portion of the Porphyry Zone
(Drill-holes shaded grey correspond to cross sections)
To view an enhanced version of Table 1, please visit:
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill-hole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the analytical laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company's QA/QC page on the website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration company focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The Company's 377 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource1 that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has now completed a significant winter drill campaign to expand on the known Resource Areas and test new discovery targets within the Company's 55 km of strike along the Casa Berardi Deformation Zone. For more information please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Office: +1 416.306.8124
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward Looking Statements:
This news release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralization from other drilling in the referenced drill program and the completion of the drill program. Forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
1 (Micon 2018) 479,000 ounces at 1.59 g/t Au (Indicated category) and 2,759,000 ounces at 1.02 g/t Au (Inferred category), using a 0.45 g/t Au cut-off grade. Please visit www.maplegoldmines.com or the Company's SEDAR filings for a copy of the Micon 2018 report.