Maple GOLD Adds Second Drill Rig to Commence 6,000-METRE Deep Drilling Program at Joutel
PRESS RELEASE
August 3, 2022
MAPLE GOLD ADDS SECOND DRILL RIG TO COMMENCE 6,000-METRE DEEP
DRILLING PROGRAM AT JOUTEL
Vancouver, BC – (Newsfile Corp. – August 3, 2022) – Maple Gold Mines Ltd. (TSX-V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the " Company") is pleased to report the
mobilization of a second drill rig, while the first drill rig continues Phase II drilling at the 100%-
controlled Eagle Project, to commence a 6,000 metre ("m") deep drilling program at the Joutel
Project ("Joutel") in Quebec, Canada , held by a 50/50 joint venture ("JV") between the
Company and Agnico Eagle Mines Limited . This deep drilling program is expected to include
three (3) drill holes in the Telbel mine area ("Telbel") beneath and adjacent to the historical
underground mine workings, which extend to roughly 1,200 m below surface . Past gold
production at Telbel focused on a single zone between 500 - 1,050 m; however, data
digitization and 3D modeling have identified significant gold intercepts up to approximately
1,400 m below surface that remain open for follow-up exploration.
Deep drilling at Telbel will be funded as part of a previously announced C$4.8 -million
supplemental Year Two JV exploration budget (see news from May 18, 2022). To control
potential drillhole deviation, Aziwell Canada Inc. has been contracted to provide directional
drilling support on an as-needed basis during the Telbel deep drilling program.
Fred Speidel, VP Exploration of Maple Gold, stated: "We are excited to commence initial deep
drilling at Telbel, marking the first drilling at Telbel since the early 1990s. Last year's digitization
and modelling work identified significant higher-grade (>5 g/t Au) mineralization extending
beyond the mined-out stopes and has supported our drill targeting. The expanded Year Two
JV budget provides us with the financial means to begin testing these compelling targets and
near mine extensions at depth."
Initial Telbel Targets and Program Details
Maple Gold previously reported 3D modelling results for the main mine trend at Telbel after
digitizing more than 250,000 metres of historical drill data (see news from August 16, 2021),
which highlighted the potential for higher -grade gold mineralization a bove and below the
historical underground mine workings, as well as additional discovery targets at a district scale
(see Figure 1 below).
The deep drill program is expected to include one (1) drill hole that will be collared south of the
main Telbel mine horizon and drilled to the north (S-N) and two (2) drill holes collared north of
the target area and drilled to the south (N-S). This will provide valuable geological information
by covering the entire stratigraphy of the mineralized system, and will also serve to test known
sub-parallel mineralized zones that have not been fully explored in the past. Deep drilling will
investigate mineralized trends with step -outs of over 350 metres from historical information
(see Figure 2 below).
2
Figure 1: District scale Eagle-Telbel long section highlighting open mineralized areas after 3D modelling, 300 m
corridor width
Figure 2: Full width 3D model oblique slice highlighting historical intercepts (blue stars) using a 2.5 g/t Au cut-
off and planned deep drillholes at Telbel
3
The district
-
scale property package also hosts a significant number of regional exploration
targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be
tested through drilling,
making the project ripe for new gold and polymetallic discoveries. The
Company is well capitalized and is currently focused on carrying out exploration and drill
programs to grow resources and make new discoveries to establish an exciting new gold
distric
t in the heart of the Abitibi. For more information, please visit
www.maplegoldmines.com
.
ON BEHALF OF MAPLE GOLD MINES LTD.
"
Matthew Hornor
"
B. Matthew Hornor, President & CEO
For Further
Information Please Contact:
Mr. Joness Lang
TB-22-001 (S-N) and TB-22-002 (N-S) are designed to test below the deeper plunging local
trend observed at Telbel where historical intercepts below the mined-out areas included
57.2
g/t gold ("Au") over 3 m
at
1215
m depth, 53.2
g/t Au over 2 m
at
1175
m depth,
19.9
g/t Au
over
3.7
m
at
1285
m depth,
32.2
g/t Au over
2.3
m
at
1130
m depth
and
18.3
g/t Au over
2.4
m
at
1205
m depth
(all approximate vertical depths
-
see Figure 2 above).
Several of these
intercepts
have
lower
grade
haloes.
TB-22-003
(N-S)
is
designed
to
test
the
southeastern
continuity
of
the
shallower
district-scale
Eagle-Telbel
trend
(blue
dashed
lines
in
Figure
1)
where
an
80.8
g/t
gold
Au
interval
over
0.5
m
at
1135
m
depth
was
intersected
in
quartz
carbonate veinlets with visible gold from historical drilling. Importantly, this historical drillhole
did not reach the main Telbel mine
horizon.
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 press release through his direct participation in the work.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture
with
Agnico Eagle
Mines
Limited
to
jointly
advance
the district-scale
Douay
and
Joutel gold
projects
located
in
Quebec's prolific
Abitibi Greenstone
Gold
Belt.
The projects
benefit
from
exceptional infrastructure access and boast ~400 km
2
of highly prospective ground including
an established gold resource at Douay (SLR 2022) that holds significant expansion potential
as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the
Company holds an exclusive option to acquire 100% of the Eagle Mine Property.
4
Executive Vice-President
Cell: 778.686.6836
Email: [email protected]
Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: [email protected]
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 press 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 exploration work and results from current and future work programs . 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 plac e undue reliance on 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 impli ed
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.