Maple GOLD Drills 10.3 G/T GOLD over 7.8 Metres, Including 41.1 G/T GOLD over 1 Metre, IN the North MINE Horizon at Eagle
PRESS RELEASE
January 9, 2023
MAPLE GOLD DRILLS 10.3 G/T GOLD OVER 7.8 METRES, INCLUDING 41.1 G/T
GOLD OVER 1 METRE, IN THE NORTH MINE HORIZON AT EAGLE
Vancouver, BC – (Newsfile Corp. – January 9, 2023) – Maple Gold Mines Ltd. (TSX-V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold " or the " Company") is pleased to report
additional assay results from the Company’s 2022 drilling at its 100% -controlled Eagle Mine
Property ("Eagle") located in Québec, Canada. The new results represent complete assays
from five (5) follow-up holes for which partial results were previously reported (see news from
December 13, 2022), targeting northwest extensions of the main mine horizon and along
multiple sub-parallel gold horizons (see Figures 1 and 2). The Company’s latest drilling in the
northern splay of the main mine horizon (the "North Mine Horizon ") has returned the best
intercept to-date from its 2022 program at Eagle.
Highlights:
• Drill hole EM-22-015 intersected 10.3 g/t gold ("Au") over 7.8 metres ("m"), including
41.1 g/t Au over 1.0 m in the North Mine Horizon.
• Further up-hole, EM-22-015 intersected 4.3 g/t Au over 3.9 m, including 6.6 g/t Au
over 2.0 m , demonstrating the potential for the North Mine Horizon to be wider than
what was previously interpreted (see Figure 2).
• The EM-22-015 intercepts are located down-plunge from historical high-grade,
near-surface drill results from a geologically similar hole (E-19: 19.6 g/t Au over
7.9 m, as well as 17.5 g/t Au over 5.6 m further up-hole) in an area with limited drilling
that remains open further down-plunge (see Figure 3).
• EM-22-015 has now returned seven (7) separate intercepts over a 120 m interval
starting from 142.5 m downhole.
• Assays are still pending for roughly 20% of the Company’s 2022 drilling at Eagle.
“Drill results continue to support the Company’s view that multiple sub-parallel gold horizons
exist beyond what was historically mined at Eagle and have expanded our target areas along
a broader mineralized corridor over a stratigraphic thickness that now exceeds 100 metres in
width,” stated Matthew Hornor, CEO of Maple Gold. “There is an apparent concentration of
>10 g/t gold starting near surface and extending down-plunge to the EM-22-015 intercepts
along the North Mine Horizon in an area with limited drilling that remains open further down-
plunge. This represents just one of several compelling follow-up targets that we are excited to
pursue in 2023.”
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Interpretation and Summary of Results
Key assay results reported herein are from holes drilled at different orientations from the site
of hole EM-22-005 (see news from June 20, 2022); three (3) starting from the same drill collar
(EM-22-013, EM-22-015, EM-22-016) and one (1) wedge drill hole (EM-22-005W). The new
results from EM-22-015 support the Company’s model of multiple sub-parallel gold horizons,
some of which are particularly high-grade (>10 g/t), extending from the southern splay of the
main mine horizon (the "South Mine Horizon ") to beyond the North Mine Horizon over a
mineralized corridor that now exceeds 100 m in width. These two horizons merge into a single
main mine horizon in the central part of the Eagle property (see Figure 1).
Figure 1: Plan view showing all 2022 drill holes (28) at Eagle with lines of section for Figures 2 and 3.
Gold mineralization at Eagle is not only limited to the known main mine horizon, hosted in
mixed epiclastic and pyroclastic rocks of the northern part of the Joutel -Raymond volcanic
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complex, but also extends into a sill -like microgabbro occurring close to the Ha rricana Fault,
and sporadically into the Harricana sediments further to the north.
Figure 2: NW-looking cross section (85 m total width) highlighting new assay results (gold boxes) and
previously reported/historical intercepts (white boxes) along well-defined sub-parallel horizons.
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Figure 3: NE-looking long section (55 m total width) highlighting the location of the EM-22-015
intercept (10.3 g/t Au over 7.8 m) relative to pre-existing grade contouring in the North Mine Horizon.
Note the open area extending down-plunge from hole E-19 (19.6 g/t Au over 7.9m).
The EM-22-015 intercepts are located approximately 60 m down -plunge from historical hole
E-19. Additional historical drill holes intersected >5g/t Au roughly 250 m further down-plunge,
highlighting the grade and volume potential of this new zone that will be tested via follow-up
drilling in 2023.
In contrast with the South Mine Horizon, which is hosted in a mixed package of fine -grained
crystal tuffs and laminated sediments with the latter hosting most of the gold -bearing semi-
massive sulfide mineralization cut by irregular ankerite -(quartz) veinlets, the North Mine
Horizon is associated with coarse r lapilli-tuffs that appear to have been quite permeable and
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allowed deposition of abundant matrix sulfide (see Plate 1) adjacent to and overlapping with
the microgabbro further downhole . The distribution of these coa rse tuffs adjacent to the
microgabbro represent a favorable target that has relatively limited drilling to the northwest as
well as down-dip and down-plunge (see Figures 2 and 3).
Plate 1: EM-22-015 intercept at 230.8 m downhole in lapilli-tuff host. Sulfide patches in between lapilli
are semi-massive to massive. NQ core, 47.6mm diameter.
Intercepts >2 g/t Au have now been obtained at Eagle at downhole depths ranging from 109
to 1,234 m, which is indicative of the significant depth continuity of the system. Multi-element
geochemistry, a first for the Eagle project, indicates that Au is associated with elevated silver
("Ag") and that several additional elements can be used for targeting purposes as they provide
for a significantly broader footprint than Au and Ag alone.
The Company completed a total of 28 drill holes corresponding to ~13,823 m at Eagle during
2022. Approximately 20% of the assays for the entire program are still pending. Additional
assay results will be released on a periodic basis over the coming months once they are
received and interpreted.
Outlook for Further Exploration at Eagle-Telbel
The Company’s next steps will include a comprehensive review of all available dat a at Eagle,
including incorporating results from the 2022 program into its 3D geological model, along with
definition of priority targets for follow-up drilling in H1 2023. The Company also believes that
continued drilling success at Eagle will relate positively to ongoing exploration on its joint
venture ground at Telbel and along the entire Joutel Deformation Zone.
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Table 1: Complete assay results for EM -22-015 and nearby drill holes at Eagle
(note: bolded Drill Hole IDs correspond to new assay results).
All intervals are downhole lengths. True widths are estimated to be between 35% (for steeper holes)
to 80% (for shallower angle holes) of downhole lengths. Assays are uncut, but overlimits (>10 g/t Au
initial assay) were reassayed using Fire Assay with Gravimetric finish, and subsequently, screen
metallics. The latter results are deemed more accurate and are reported here.
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.
Drill Hole ID UTME UTMN Azimuth Plunge Length (m) From To Interval Au g/t
EM-22-013 690758 5486043 63.8 -69.8 327 257.0 267.4 10.4 2.3
including 257.0 260.2 3.2 5.0
EM-22-013 273.0 273.7 0.7 1.8
EM-22-013 298.0 299.0 1.0 1.5
EM-22-014 690565 5486334 64.5 -67.9 621 160.0 160.7 0.7 1.8
EM-22-014 231.0 231.7 0.7 4.6
EM-22-014 272.0 273.0 1.0 1.3
EM-22-015 690758 5486043 45 -50.1 411 142.5 148.6 6.1 1.6
EM-22-015 164.9 165.5 0.7 4.8
EM-22-015 217.1 221.0 3.9 4.3
including 218.5 220.5 2.0 6.6
EM-22-015 228.0 235.8 7.8 10.3
including 228.5 232.8 4.3 15.9
including 230.0 231.0 1.0 41.1
EM-22-015 246.7 248.4 1.7 4.3
including 247.5 248.4 0.9 7.1
EM-22-015 252.2 255.0 2.8 1.8
EM-22-015 260.0 262.6 2.6 1.1
EM-22-016 690758 5486043 45 -62.6 297 182.6 183.2 0.6 1.7
EM-22-016 193.0 200.3 7.3 3.1
including 196.0 199.6 3.6 4.0
EM-22-016 202.0 206.2 4.2 1.7
including 204.3 206.2 1.9 2.7
EM-22-005W 690795 5486136 2.2 -65.5 363 364.3 365.8 1.5 1.3
EM-22-005W 624.0 625.0 1.0 1.2
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Quality Assurance (QA) and Quality Control (QC)
The Company implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols
at Eagle covering the planning and placing of drill holes in the field; drilling and retrieving the
NQ-sized drill core; drill hole surveying; core transport; core logging by qualified personnel;
sampling and bagging of core for analysis; transport of core from site to the Val d'Or, Québec
AGAT laboratory; sample preparation for assaying; and analysis, recording and final statistical
vetting of results. Check assays for gold are being done on a sample subset at ALS’ laboratory
in Val d’Or. For a complete description of protocols, please visit the Company's QA/QC
webpage at www.maplegoldmines.com.
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 Québec's prolific Abitibi Greenstone Gold Belt. The projects benefit from
exceptional infrastructure access an d 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.
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
district 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
Executive Vice-President
Cell: 778.686.6836
Email: [email protected]
Mr. Jeff Uppal
Manager, Investor Relations
Cell: 778.977.4724
Email: [email protected]
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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 place 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.