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Montreal, Quebec–(Newsfile Corp. – May 6, 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. The Company planned a single drill-hole (DO-20-272) near the limit of the NW Zone this winter, a zone which has only seen two drill holes since 1997. Maple Gold’s geologists identified a significant drilling gap of approximately 300 metres to the west of a historical drill-hole that cut significant gold mineralization starting from only 41m downhole (3.15 g/t Au over 8.9m). This year’s drill-hole was collared 100m to the west and cut 4.16 g/t Au over 3.4m starting from 39.6m downhole (including 7.68 g/t Au over 1.7m), and 1.15 g/t Au over 20m starting from 50m downhole, including 8m of 1.34 g/t Au. This near-surface zone remains open for about 200m to the west and the eastern extension of the historical intercept also remains open to the east for about 150m (see Fig. 2).
Fig. 1: Drill plan on aeromagnetic base showing main DO-20-272 intercept and interpreted near-surface gold zone closely associated with Cartwright/Taibi contact. Note additional drilling gaps (white ellipses) along or near the same contact.
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Maple Gold’s VP, Exploration, Fred Speidel, commented: “Results from our 2020 drill-hole at the NW Zone provides support for the presence of a near-surface higher-grade zone in this relatively sparsely drilled area. Last winter we drilled a single drill hole in an area (531 Zone) that hadn’t been drilled much since the early 1990’s and we intersected multiple high-grade zones. This year we similarly planned a single hole to test a concept at the NW Zone, which also hadn’t seen much work since the 90’s. The new NW Zone intercepts and lack of drilling in the immediate area is another example of the type of exploration upside that still exists within the known deposit area at Douay, not to mention the greater property package.”
The geological characteristics of the NW Zone in this area are similar to those in the Main Zone at the opposite (ESE) end of the deposit, with host rocks consisting of highly foliated quartz sericite-pyrite-altered volcanic, pyroclastic and lesser sedimentary rocks. Although the NW Zone is relatively distal, the influence of the Douay alkaline intrusive-hydrothermal system is still noted by frequent carbonatite injections, relative abundance of fluorite (see fig. 3 below) and commonly elevated Rare Earth Element (REE) values. This lends further support to the Company’s existing hypothesis of geological (and geophysical) continuity between these two zones, where there are several drilling gaps of about 500-1000m in length that remain to be tested, only a few of which are shown in Fig. 1 above.
Fig. 2: Long section @095, looking NNE, along axis of hatched gold zone shown in Fig. 1. Note distribution of gold mineralization, with shallow apparent dips to the ESE, a common theme at Douay. Significant drilling gaps still exist in this area and additional infill drilling is warranted, with the aim of defining additional near-surface gold mineralization.
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Fig. 3: NQ core (47.6mm diameter) from 41.3-41.9m in DO-20-272A, which assayed 13.25 g/t Au. Note yellow sericite defining foliation, stronger Fe-carbonate (pale orange color) and relatively abundant fine disseminated and stringer pyrite, as well as purplish grey fluorite-carbonate injection in upper right part of photograph.
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Table 1: Summary of Assay Results for Drilling at the NW Zone
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Notes: All lengths are downhole, true widths not known due to limited drilling in this area. DO-20-272 was abandoned due to drilling problems; DO-20-272A was collared about 3m from the original hole and drilled steeper. Upper and lower zones were cut in both holes; by about 70m downhole, the two holes would have been approximately 10m apart.
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 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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