Montreal, Quebec--(Newsfile Corp. - April 3, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report that a third drill rig has arrived at site and has been mobilized to an area located about 1km south of the Porphyry Zone (the "Exploration Target"). Very limited historical drilling of this target area returned several high-grade intercepts, including up to 17.5 g/t Au over 1.5m (downhole length). The Exploration Target has a very similar magnetic response to the Porphyry Zone (see Fig. 1) and is also very similar geologically with mixed syenite and basalt, i.e. containing contact style mineralisation. The nearest historical hole is found 400m to the east, and there is no further drilling for approximately 1500m to the west or northwest. Two initial drill-holes will be drilled in this area to test for volume potential of mineralisation.
Maple Gold's VP, Exploration, Fred Speidel, commented: "Following up on isolated higher-grade samples in the NW Gap Area during last year's campaign resulted in the definition of the new Nika Zone. There is very limited drilling in the Exploration Target area, but we have the right ingredients there to define new gold zones and are excited to take a couple discovery shots with our 2019 drilling."
Fig. 1: Mag target area with characteristic paired high/low response
To view an enhanced version of Figure 1, please visit:
The paired high/low response in Fig. 1 reflects multiple, mainly magnetically depressed, syenitic bodies intruded into magnetic basalts. There is a similarity of magnetic response in the Exploration Target area to that of the Porphyry Zone further north, and this similarity also holds true geologically. The green dots in Fig. 1 represent drill collars for the new drill-holes set to commence at the Exploration Target.
Fig. 2: Third drill rig and equipment being mobilized to the Exploration Target area at Douay
To view an enhanced version of Figure 2, 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 Company's website.
About Maple Gold
Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The Company's ~392 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource3 that remains open in multiple directions. 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
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 mineralisation 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43866