Maple Gold gains Douay, to update resource

Maple Gold Mines (TSXV: MGM) has transitioned from a joint venture partner to an owner-operator of the Douay project in Quebec’s Abitibi region. The team is preparing for a 10,000-metre drill campaign to update the resource estimate in the first half next year, president and CEO Kiran Patankar says.

The reset comes after Maple consolidated control over the Douay–Joutel district. The drill campaign aims to expand at Douay’s Nika and 531 zones. Maple aims to grow Douay from a 10-million-tonne indicated resource at 1.59 grams gold per tonne for 511,000 oz. contained oz. and 76.7 million tonnes inferred at 1.02 gram gold per tonne for 2.53 million oz. – backed by a fully funded drill program.

“We optimized our partnership with Agnico Eagle Mines (TSX, NYSE: AEM) and restructured to consolidate ownership so Maple can drive the projects – with Agnico as our cornerstone and largest shareholder,” Patankar said at the Precious Metals Summit. The drill program will prioritize step-outs to add “high-quality ounces” at depth and test Eagle-Telbel for a potential high-grade sweetener to a Douay mine plan, he said.

The work reflects a dual-track objective. The company plans to expand Douay to the next tier with step-out drilling . And scoping and mine-engineering trade-offs will help advance a possible PEA after the resource update.

Watch the full chat below with The Northern Miner’s Western Editor, Henry Lazenby.