Montreal, Quebec--(Newsfile Corp. - June 5, 2019) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (Frankfurt: M3G) ("Maple Gold" or the "Company") is very pleased to report assay results from the lone 531 Zone hole drilled in the winter 2019 campaign. This drill-hole was selected using the Company's recently established 3D model.
This hole was designed to test the down-dip continuity of mineralisation defined from historical drilling in 1992, as well as to test for potential new gold zones to the south.
The results stand out not only for their higher grades, but also for grade consistency. This area remains open for the potential discovery of additional similar zones for hundreds of metres to the south, southeast and southwest. Highlighted results for DO-19-262 below (see Table 1):
- The lower zone gave 51m of 2.81 g/t Au, including 16m of 4.58 g/t Au and 9m of 4.92 g/t Au (from a downhole depth of 378m, or about 320m vertical depth). This intercept was significantly broader and higher grade than the adjacent drill-hole and ended just 3m from the bottom of the hole (remains open down-dip and downhole).
- New upper zone gave 28m averaging 2.55 g/t Au, including 9m of 4.71 g/t Au from a downhole depth of 302m (estimated vertical depth 255m), a significant broadening of weaker and more limited mineralisation intersected up-dip in the adjacent hole, i.e. a new zone of mixed contact/structural style of gold mineralisation similar to the higher grade Douay West Zone.
- Excellent potential to extend both zones to depth and make additional discoveries to the south, where there is only very sporadic drilling within a 1.8 x 0.5km target area with favourable geology and geophysics (see Fig. 1).
Maple Gold's President and CEO, Matthew Hornor, commented: "It is highly encouraging to receive results of this quality from one of the drill-holes we selected using our new 3D model. Discovering a new higher-grade gold zone and having the room and positive indicators in place to expand on this success is a very exciting development for our team that demonstrates the continued discovery potential within the greater Douay gold system."
Click the following link to view drill core photographs: https://bit.ly/2HVlo6X
DO-19-262 was collared on the south edge of the 531 Zone. The proposed 531 SW Target (see Fig 1.) is defined by an area known to contain syenite, with elongated annular magnetic patterns characteristic of the Douay Resource area and of several other intrusive-related gold systems in the Abitibi Greenstone Gold Belt.
To view an enhanced version of Fig. 1, please visit:
The 531 SW Target area is the largest relatively undrilled mag target within the surrounding resource area. The very limited number of historical drill-holes within this 1.8 x 0.5km area returned only scattered values between 0.25 and 1 g/t Au to-date, but favourable geological and structural characteristics quite similar to that of the higher grade Douay West Zone (mixed syenite and basalt with lesser sedimentary rock and strong deformation) make this large target area a priority for further follow up and potential drilling in subsequent campaigns.
Figure 2 (below) illustrates the depth continuity of mineralisation below the bottom of the current (Micon 2018) conceptual pit, and significant improvement in grades and width of mineralisation in the 2019 hole as compared to historical holes. Also of note is the location of the new mineralised zone, and possibility for additional such zones to exist further south where syenite is known to persist. Syenite is also present within the new mineralised zone, although it is minor and therefore does not appear at the scale of the section in Fig. 2.
Fig. 2: North-south section 709050E (looking west), including hole DO-19-262. Note far superior grade and width of deeper 2019 intercept vs that in the same zone in historical drill-hole DO-92-41 (1.47 g/t Au over 18.3m).
To view an enhanced version of Fig. 2, please visit:
Table 1: Highlighted intercepts from single 531 Zone drill-hole
All assays are below capping levels (15 g/t Au) for this zone (Micon 2018). True widths are about 70% of downhole lengths and vertical depth is about 85% of downhole depth.
Resource Estimate Update
Initial consultation with RPA earlier this year resulted in suggested refinements and updates to the various wireframes and 3D model. That internal work has been completed and the Company has now resumed its engagement with RPA, and will be able to include the winter 2019 drill results into RPA's upcoming resource estimate. Resource estimation update results are now expected in H2. The Company remains committed to establishing a high quality new baseline estimate, and taking the necessary time to include the additional model refinements and new drill data contributions will result in a better quality and up-to-date estimate.
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 ALS 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 and development company focused on defining a district-scale gold project in one of the world's premier mining jurisdictions. The Company's ~355 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. 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/45317