Montreal, Quebec--(Newsfile Corp. - May 27, 2020) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report new assay results from its 2020 winter drilling campaign at the Douay Project. Three drillholes were completed in the western part of the Porphyry Zone where higher than deposit average grades are present and historical drilling is relatively sparse. Highlights for DO-20-283 and DO-20-280 are given below:
➢ DO-20-283 tested a 140m drilling gap near the northern limit of the current (RPA 2019) conceptual pits and cut multiple gold zones, highlighted by 1.91 g/t Au over 17m from 189m downhole (about 155m vertical depth).
➢ Following several additional narrow intercepts over 1 g/t Au, DO-20-283 bottomed in mineralization with 1.06 g/t Au over the last 7m of the hole (1.6 g/t Au over final 2m).
➢ DO-20-283 was terminated early due to the COVID-19 shutdown in Quebec; deepening this drill-hole is warranted (Figs. 1,2).
➢ DO-20-280 cut multiple zones within the top 90m (vertical depth) from surface, with 4m of 0.85 g/t Au, 4m of 1.14 g/t Au and 1.5m of 1.61 g/t Au.
➢ Assays still pending for the bottom of DO-20-280 and DO-20-281 in its entirety.
Maple Gold's VP, Exploration, Fred Speidel, commented: "I'm encouraged to see these significant new intercepts in relative proximity to indicated resources that are already defined (see Fig 2). There are several more drilling gaps remaining to be tested and the western part of the Porphyry Zone is an area we believe can contribute additional higher-than-deposit-average grade mineralization within the top 50-250 metres from surface."
Fig. 1: Drill plan on aeromagnetic base showing main DO-20-283 intercepts, historical Au intercepts and drilling gaps
To view an enhanced version of Fig.1, please visit:
Fig. 2: NW-SE long section, looking NE (see section trace in Fig. 1). In addition to the near-surface drilling gaps, expansion potential is also shown by red arrows; those near or above base of pit are higher priority.
To view an enhanced version of Fig.2, please visit:
In addition to the main DO-20-283 intercepts noted above, lower-grade halo mineralization (22m of 0.35 g/t Au) was also intersected closer to surface in that hole, followed by 5m of 0.89 g/t Au from 161m downhole. The intercepts in DO-20-283 are associated with fracture and breccia zones in syenitic rocks.
DO-20-280, collared 110m to the NW of DO-20-283, intersected multiple mineralized gold zones over the top 150m downhole, including: 0.85 g/t Au over 4m from 69m downhole, 1.14 g/t Au over 4m from 88m downhole, 1.61 g/t Au over 1.5m from 106.5m downhole and 0.96 g/t Au over 4m from 141m downhole. Assays are pending from 309m downhole for DO-20-280, as well as the entire DO-20-281 drillhole that was collared 140m south of DO-20-283 to test the downplunge continuity of existing gold mineralization (See Table 1 below for full details).
The new assay results from DO-20-280 and DO-20-283 support the presence of multiple mineralized gold zones within the top 50-250 metres vertically in the western part of the Porphyry Zone, above or at the current base of conceptual pits that are relatively shallow in this area, and provide support for near-surface upside in this relatively sparsely drilled area on the north side of the Porphyry Zone.
Fig. 3: NQ core (47.6mm diameter) from 203-204m downhole in DO-20-283; that interval assayed 5.25 g/t Au. Both disseminated and veinlet pyrite are present in bleached syenite. Photo is of a selected interval and is not necessarily representative of all mineralization hosted on the property.
To view an enhanced version of Fig 3., please visit:
Maple Gold geologists have been out in the field assessing accessibility of various drill sites within and beyond the resource area, that were permitted earlier this year. Additional induced polarization surveys are expected to commence shortly to close off anomalies defined earlier this winter (see press release of March 16, 2020), and will also include test lines covering an intriguing AI-supported target area south of the Porphyry Zone. The Company will release further assay results from its winter 2020 campaign as they are received, verified and interpreted.
Table 1: Summary of 2020 Assay Results for western part of Porphyry Zone
|Hole||UTME||UTMN||Azimuth||Plunge||Length (m)||From||To||Interval||Au g/t|
Notes: All lengths are downhole, true widths are very close to downhole lengths as can be seen in Fig. 2.
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; drillhole 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 Val d'Or, QC, 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 resource 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
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.
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