Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.commodity-tv.net/c/search_adv/?v=298248 ) is pleased to report initial results from the Porphyry Zone, where the Company has now received assays for three complete drill-holes. The highlighted intercepts below are from two drill-holes within the central portion of the Porphyry Zone, collared approximately 540m apart (see Fig. 1 and Table 1).
DO-19-256, meant to demonstrate the presence of near-surface mineralisation, was drilled entirely in intrusive rocks, including strongly altered and mineralised syenite (Fig. 2) closer to surface, with mineralisation cut off in the lower half of the hole by a fracture/fault zone and post-mineralization alkaline gabbros and fluorite-rich carbonatite dykes.
DO-19-258 was drilled to test the down-dip continuity of a significant intercept from 2012 (DO-12-95) collared on the same section (see Fig. 3). Results support the down-dip continuity of this mineralised zone, with comparable intercepts in each case. Both 2019 and previous drill results outline a much broader mineralised envelope (includes lower grade material), as shown in Fig. 3; the broader lower-grade halo in DO-19-258 extends for more than 175 metres downhole. This hole ended at 342m downhole in geologically similar rocks as the highlighted intercept, including 1.17 g/t Au from 338-339m, leaving this mineralised zone open both down-dip and downhole.
Maple Gold’s VP Exploration, Fred Speidel, commented: “Initial drilling results from Porphyry Zone lend support to the concept of a near-surface higher-grade zone, as well as for the down-dip continuity of higher grade mineralisation at modest depths. Additional drilling is required to better define the ultimate down-dip continuity for this area, consistent with our current focus on not only optimizing the near-surface resource, but also assessing the potential significance of deeper mineralisation at Douay.”
Qualified Person
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.
“Matthew Hornor”
1. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Cell: 778.686.6836
Email: jlang@maplegoldmines.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch
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.
- DO-19-256 demonstrated the presence of higher-grade mineralisation near-surface, cutting 16m averaging 1.57 g/t Au from 77m downhole (67m estimate vertical depth), plus an additional 11m averaging 1.00 g/t Au further up-hole. This shallow mineralisation remains open to the north.
- DO-19-258 intersected multiple higher grade zones, with a best of 19.0m averaging 2.46 g/t Au, including 6m averaging 5.11 g/t Au, which also includes 26.7 g/t Au over 1m (see Table 1). These intercepts are within a broader 41m interval (including lower grade material) averaging 1.41 g/t Au (all uncapped) from 274 downhole (225m estimated vertical depth), which supports the down-dip continuity of mineralisation and remains open to depth downhole).
DO-19-256, meant to demonstrate the presence of near-surface mineralisation, was drilled entirely in intrusive rocks, including strongly altered and mineralised syenite (Fig. 2) closer to surface, with mineralisation cut off in the lower half of the hole by a fracture/fault zone and post-mineralization alkaline gabbros and fluorite-rich carbonatite dykes.
DO-19-258 was drilled to test the down-dip continuity of a significant intercept from 2012 (DO-12-95) collared on the same section (see Fig. 3). Results support the down-dip continuity of this mineralised zone, with comparable intercepts in each case. Both 2019 and previous drill results outline a much broader mineralised envelope (includes lower grade material), as shown in Fig. 3; the broader lower-grade halo in DO-19-258 extends for more than 175 metres downhole. This hole ended at 342m downhole in geologically similar rocks as the highlighted intercept, including 1.17 g/t Au from 338-339m, leaving this mineralised zone open both down-dip and downhole.
Maple Gold’s VP Exploration, Fred Speidel, commented: “Initial drilling results from Porphyry Zone lend support to the concept of a near-surface higher-grade zone, as well as for the down-dip continuity of higher grade mineralisation at modest depths. Additional drilling is required to better define the ultimate down-dip continuity for this area, consistent with our current focus on not only optimizing the near-surface resource, but also assessing the potential significance of deeper mineralisation at Douay.”
Qualified Person
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.
“Matthew Hornor”
1. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Cell: 778.686.6836
Email: jlang@maplegoldmines.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch
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.
