Maple Gold Completes 2018 Mapping and Sampling Program and Identifies New Target Areas
Maple Gold Completes 2018 Mapping and Sampling
Program and Identifies New Target Areas
Montreal, Quebec--(Newsfile Corp. - November 14, 2018) -
Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF)
(FSE:
M3G)
("
Maple Gold
" or the "
Company
") has completed its first pass summer 2018 field mapping in the central part of
the Douay Project (the "Project"). Very limited historical work has been completed previously in this portion of the Project. The
objective of the mapping program was to identify alkaline intrusive-related gold (similar to the Douay deposit), orogenic gold
(similar to the Casa Berardi mine) and/or volcanogenic massive sulfide "VMS" (similar to the past producing Estrades mine)
target areas for follow-up. The Casa Berardi mine (3.4Moz Au past production plus reserves
[1]
) and Estrades deposit (about
0.34Moz Au, 12Moz Ag, and 0.23Mtonnes Zn past production plus current resources
[2]
) occur along the same Casa Berardi
Deformation Zone about 41 and 12 kilometres west, respectively, of Maple Gold's property.
The mapped area is mainly underlain by mafic volcanic and related intrusive rocks of the Cartwright Group, with minor
intermediate to felsic volcanic and graphitic sedimentary and chert intervals marking breaks in mafic volcanic activity. VMS
deposits can be formed during these breaks, and the breaks may also mark potentially favorable structural elements for
orogenic gold deposit formation. Such felsic volcanic horizons host the Estrades VMS deposit.
All samples from the Company's 2018 mapping program were assayed by ALS Labs for Au + 48 elements using the Fire-
Assay/ICP-AES method for gold and 4-acid ICP-MS method for the multi-element package. This process allows for near-total
extraction of most of these elements, and therefore assay results not only provide geographic distribution of trace metal
anomalies, but also help discriminate between the different rock-types and alteration styles present on the Project.
Results from
the sampling program included modest gold anomalies (up to 96 ppb) as well as anomalies in pathfinder elements such as Ce,
K, La, Na, P, and Sr that are characteristic of the Douay intrusive-related alkaline system.
The potential for VMS mineralisation is indicated by multiple assays with anomalous Zn (up to 1080 ppm), Cu (up to 594 ppm)
S
(up to 2.5%), Mn (up to 1.2%) and variable Na, i.e. both enriched and depleted. The strongest metal anomaly (1080 ppm Zn) was
obtained from an interflow graphitic sedimentary/chert horizon located 2.8km SW of the Douay West gold zone, that was
detected and traced for an EW direction over about 4.2km by the Company's 2016 airborne electromagnetic survey
("EM2016").
These numerous geochemical anomalies can be grouped into six main target areas for geophysical and geological follow-up
(see Fig. 1). These are:
-
Area 1: Overburden drilling gold-in-till (10-35 gold grains) and bedrock geochemistry anomalies
-
Area 2: Harricana target with mixed VMS/alkaline intrusive geochemical response
-
Area 3: Geochemical anomalies with historical INPUT responses and known Cu, Zn showings
-
Area 4: Central Cu-Zn anomaly also with alkaline intrusive pathfinders
-
Area 5: NW extension EM2016 conductors with alkaline intrusive pathfinders
-
Area 6: Mineralized graphitic interflow sediments/cherts associated with EM2016 conductors
Fred Speidel, Maple Gold's VP Exploration, commented:
"The greenfield
top-of-bedrock
drilling and now mapping and
sampling work we have completed in 2018
has generated numerous target areas that we plan to follow up
on
with
geophysics
this winter
and additional mapping next summer
in order to prioritize the next set of new greenfield drill targets.
Figure 1:
General Geology of Douay Project, showing distribution of exploration targets including those defined in winter 2018
top-of-bedrock drilling (Area 1), and numerous geochemical anomalies from 2018 mapping and sampling (Areas 2-6). For
illustrative purposes, Cu+Zn anomalies are shown here as areas with samples over 100ppm Cu and/or 100ppm Zn. Note
eastern extension of known VMS horizons (Estrades and Newiska, a similar deposit) as red lines extending into Areas 1 and 2,
interpreted from magnetic data, with the northernmost being Estrades.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3077/41053_fb28b970a43bb855_001full.jpg
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 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 377 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
[3]
that remains open in multiple directions. 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
VP, Corporate Development
Email:
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.
____________________
[1]
Source:
https://www.hecla-mining.com/casa-berardi/
[2]
Source: RPA November 2018 43-101 Report
[3]
(Micon 2018) 479,000 ounces at 1.59 g/t Au (Indicated category) and 2,759,000 ounces at 1.02 g/t Au (Inferred category),
using a 0.45 g/t Au cut-off grade. Please visit
www.maplegoldmines.com
or the Company's SEDAR filings for a copy of the
Micon 2018 report.