Maple GOLD Intersects New Sulfide System with GOLD and Silver Showings at Regional Ne IP Target; Winter 2021 Drill Program Underway at Douay
PRESS RELEASE
February 10, 2021
MAPLE GOLD INTERSECTS NEW SULFIDE SYSTEM WITH GOLD AND
SILVER SHOWINGS AT REGIONAL NE IP TARGET; WINTER 2021 DRILL
PROGRAM UNDERWAY AT DOUAY
Vancouver, BC – Newsfile Corp. – February 10, 202 1) - Maple Gold Mines Ltd. (TSX -V:
MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report
that initial assay results from the first two holes drilled at the regional Northeast IP Target (“NE
IP Target”) in its Fall 2020 drill campaign at the Douay Gold Project have returned several
anomalous gold and silver intercepts indicating the presence of a new sulfide-rich hydrothermal
system. The Company also announces that drilling is underway on a planned 10,000-metre
Winter 2021 drill campaign. The Douay Gold Project is part of a 50/50 Joint Venture (the “JV”)
between Maple Gold and Agnico Eagle Mines Limited (“Agnico” ) and is located in Quebec,
Canada.
Initial Fall 2020 Program Highlights:
• Initial results are from the first two holes drilled in the immediate NE IP Target area in
over 25 years.
• Results confirm ed that the NE IP chargeability anomaly corresponds to a large new
sediment-hosted, sulfide-rich hydrothermal system with locally significant gold and silver
values, in contrast with the mainly volcanic and intrusive -hosted gold mineralization
found at the Douay mineral resource area.
• Hole DO-20-285 intercepted multiple gold showings including 2.52 g/t Au over 1 m and
1.29 g/t Au over 0.8 m, along with significant silver (up to 68.2 g/t) and anomalous
arsenic, copper (up to 0.19%), antimony, and tellurium.
• Hole DO-20-284 encountered several narrow zones of gold mineralization between 0.1
and 0.8 g/t Au from 68 to 278 m downhole, along with significant silver (up to 43.7 g/t)
and anomalous arsenic, copper (up to 0.15%), antimony, and zinc (up to 0.65%).
“To encounter semi-continuous sulfide mineralization over up to 350 metres downhole along
with several gold and silver showings in the first two holes drilled into the highly prospective, 2-
km-long NE IP Target area is very encouraging,” stated Fred Speide l, Maple Gold’s VP
Exploration. “We are also pleased to report that the JV’s inaugural Winter 2021 drill campaign
is underway , which will include further drilling at the NE IP Target . This demonstrates the
commitment of the JV not only to expanding mineralization in and around the established gold
resource at Douay but also to the systematic process required in making significant, new
grassroots discoveries across the JV’s 400 km² joint Douay-Joutel property package.”
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NE IP Initial Results
The first two holes of the Fall 2020 campaign were regional exploration holes drilled to test the
southwestern portion of the NE IP Target , a 2 x 0.7 km chargeability anomaly located
approximately 4 km northeast of the Douay mineral resource (see news from October 22,
2020). The holes were drilled 160 m apart and encountered broad zones of nearly continuous
sulfide mineralization associated with highly deformed (sheared) quartz -sericite-pyrite altered
sedimentary rocks of the Taïbi Group, starting from top of bedrock to about 350 m downhole.
As a result of these encouraging signs, a second drill rig was brought in and two additional
holes were drilled on the same system, with the four completed holes covering 1.1 km of the
chargeability anomaly’s >2 km strike length (see figure 1).
Gold results are complete for the first two holes with multi-element assays complete for the first
hole and partially complete for the second hole. Assays for the last two holes at the NE IP
Target are currently pending. Portable XRF gun results show mineralization is typically
anomalous in silver, arsenic, copper, antimony and zinc.
Fig. 1: NE IP chargeability target on tilt magnetic base from late 2020 high resolution airborne magnetic survey. Note frequent association
between Au-Ag zones with magnetic lows. Highlighted drill hole labels represent the two holes for which results are reported in this press
release and only assays over 0.5 g/t Au are shown. Interpreted drill target areas (in checkered areas) are open to W and to E and additional
zones are expected with further drilling.
Hole DO -20-285 was the southwest ern-most hole out of the four holes drilled. Gold
mineralization is broadly associated with abundant sulfides (reflected in elevated sulfur
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contents from 1% to over 5%). The best new gold showings included 2.52 g/t Au over 1 m
from 65 m downhole, together with anomalous silver (up to 68.2 g/t), arsenic (up to 0.06%),
copper (up to 0.19%), antimony (up to 0.03%), molybdenum (up to 0.007%) and tellurium (up
to 47.1 ppm). A further intercept from 323 m downhole returned 1.29 g/t Au over 0.8 m. See
drill results table towards the end of this press release for more details.
Hole DO-20-284 encountered several narrow zones of gold mineralization between 0.1 and 0.8
g/t Au from 68 to 278m downhole. These were also associated with elevated sulfur, as well as
silver (up to 43.7 g/t), arsenic (up to 0.06%), copper (up to 0.15%), antimony (up to 0.04%) and
zinc (up to 0.65%). These pathfinder elements are distinct from what is seen at the Douay
mineral resource area and are comparable to those observed at the past-producing, high-grade
Vezza gold mine, located 12 km east of Douay (disclaimer: mineralization hosted on adjacent
and/or nearby properties is not necessarily indicative of mineralization hosted on the
Company's property).
Once the assays become available for the remaining two holes at the NE IP Target , Maple
Gold’s technical team exp ects to be able to vector towards higher and more continuous gold
grades within the large chargeability anomaly (>2km) currently being tested. A further three
holes have been approved for drilling and are expected to be completed as part of the JV’s
2021 Winter drill campaign.
Multiple additional assay results remain outstanding at the various other holes drilled in the Fall
2020 drill program and will be reported once results are received, vetted, compiled and
interpreted. See figure 2 for location of all holes drilled during the campaign.
Figure 2: Fall 2020 drill location map
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Winter 2021 Drill Program
The JV’s Winter 2021 drill program is expected to total approximately 10,000 metres and is
aimed at expanding mineral resources at Douay through step-out and select infill drilling at
existing mineral resource zones as well as targeting new discoveries at regional exploration
targets. The program will include approximately 20-30 holes broadly distributed across regional
targets and various zones at the established mineral resource at the Douay project.
The program is now underway with a single drill rig and a second drill rig is expected to be
added in the coming weeks. The JV is currently determining the sequencing of drill sites from
the priority list of proposed holes.
Joint Venture Structure & Funding
As laid out in the Definitive JV Agreement between Maple Gold and Agnico ( see news from
February 3, 2021), Maple Gold’s VP Exploration is the JV’s General Manager and has direct
oversight of the exploration work that is underway by Maple Gold’s exploration team at site. All
programs are designed in collaboration with Agnico’s expert technical team , which has been
exploring and operating in the Abitibi region of Quebec for decades.
As part of the JV agreement, Agnico will fund an aggregate of C$1 8 million of JV expenses
over a four-year period, which includes the entire Winter 2021 drilling program.
Initial NE IP Drill Results
Table 1: NE IP Drill Results (Holes DO-20-284 & DO-20-285)
Notes: As this is still preliminary drilling on the mineralization at the NE IP target, the exact shape and true width cannot be determined with
certainty at this time . The core lengths obtained may not reflect the true width of the mineralization . In the above table, true widths of
intersections are estimated at approximately 90% of the core interval.
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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.
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; drillhole surveying; core transport to the D ouay Camp; core logging by
qualified personnel; sampling and bagging of core for analysis; transport of core from site to
the Val d'Or, QC, SGS laboratory; sample preparation for assaying; and analysis, recording
and final statistical vetting of results. F or 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 Quebec’s prolific Abitibi Greenstone Gold Belt. The project benefits from
exceptional infrastructure access and boasts ~400 km2 of highly prospective ground including
an established gold resource that holds significant resource expansion potential as well as the
past-producing Telbel mine.
The property 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 aggressive exploration 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:
Ms. Shirley Anthony
Director, Corporate Communications
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Cell: 778.999.2771
Email: [email protected]
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IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIB ILITY 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 activities at the Douay and Joutel gold projects . 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 undu e 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.