Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.youtube.com/watch?v=EQ5Ha9MCkWE) is pleased report additional drill results from the current winter drilling campaign at the Douay Gold Project. DO-18-216 intersected 52m grading 3.53 g/t Au (uncut), within a broader, 158.2m interval grading 1.25 g/t Au (uncut) from 335m downhole (estimated vertical depth of ~220m) within the south-central part of the Porphyry Zone.
Maple Gold’s President and CEO, Matthew Hornor, stated: “This interval appears to represent one of the 5th best intervals in the entire 760+ drill-hole database and the best intercept reported from the Porphyry Zone to-date.” Hornor added, “We are very pleased to receive such a positive result with only a fraction (~25%) of the assays received to-date, and one that indicates this particular zone widens and may extend beyond the currently-defined zone with higher grades.”
DO-18-216 was planned to test the lateral continuity of gold mineralization in an area of the Porphyry Zone with both a cluster of relatively high-grade intersections and associated broad haloes of slightly lower grade mineralization. The assay results support the Company’s concept of multiple higher-grade zones or shoots within the Porphyry Zone (Figure 1), demonstrate the continuity of this style of mineralization in the central part of the Porphyry Zone, and open the possibility of increasing grades with depth. In three dimensions, the DO-18-216 intersection is separated by approximately 60m from those in adjacent holes (DO-17-158 and DO-11-44) and appears to extend and widen this mineralized zone, which remains open.
In addition, historical drilling to the east of this high grade, thick intersection is relatively broadly spaced and additional drilling for resource definition is warranted.
Drill-hole DO-18-203, collared 439m to the SE of DO-18-216 (Figure 2), targeted the down-dip and down-plunge extension of Porphyry Zone mineralization and cut 19.0m of 0.88 g/t Au from 614m, at least 100m down dip from the current limit of mineralization per the existing block model. Assays are pending for numerous other holes in the area as well, see distribution of drill-holes in Figure 2 below.
The Company is encouraged by these excellent results and looks forward to additional target definition and drill testing of the higher grade portions of the Porphyry Zone. To view drill-core photographs for DO-18-216, see below and click here for additional images on the Company’s website.
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 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 website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is a well-funded gold exploration company focused on advancing a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 370 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold is now completing a significant winter drill campaign to expand on the known Resource Areas and test new discovery targets within the Company’s 55 km of strike along the Casa Berardi Deformation Zone. For more information please visit www.maplegoldmines.com.
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.
Maple Gold’s President and CEO, Matthew Hornor, stated: “This interval appears to represent one of the 5th best intervals in the entire 760+ drill-hole database and the best intercept reported from the Porphyry Zone to-date.” Hornor added, “We are very pleased to receive such a positive result with only a fraction (~25%) of the assays received to-date, and one that indicates this particular zone widens and may extend beyond the currently-defined zone with higher grades.”
DO-18-216 was planned to test the lateral continuity of gold mineralization in an area of the Porphyry Zone with both a cluster of relatively high-grade intersections and associated broad haloes of slightly lower grade mineralization. The assay results support the Company’s concept of multiple higher-grade zones or shoots within the Porphyry Zone (Figure 1), demonstrate the continuity of this style of mineralization in the central part of the Porphyry Zone, and open the possibility of increasing grades with depth. In three dimensions, the DO-18-216 intersection is separated by approximately 60m from those in adjacent holes (DO-17-158 and DO-11-44) and appears to extend and widen this mineralized zone, which remains open.
In addition, historical drilling to the east of this high grade, thick intersection is relatively broadly spaced and additional drilling for resource definition is warranted.
Drill-hole DO-18-203, collared 439m to the SE of DO-18-216 (Figure 2), targeted the down-dip and down-plunge extension of Porphyry Zone mineralization and cut 19.0m of 0.88 g/t Au from 614m, at least 100m down dip from the current limit of mineralization per the existing block model. Assays are pending for numerous other holes in the area as well, see distribution of drill-holes in Figure 2 below.
The Company is encouraged by these excellent results and looks forward to additional target definition and drill testing of the higher grade portions of the Porphyry Zone. To view drill-core photographs for DO-18-216, see below and click here for additional images on the Company’s website.
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 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 website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is a well-funded gold exploration company focused on advancing a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 370 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold is now completing a significant winter drill campaign to expand on the known Resource Areas and test new discovery targets within the Company’s 55 km of strike along the Casa Berardi Deformation Zone. For more information please visit www.maplegoldmines.com.
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.
