Maple Gold Mobilizes Drill Rig to NW Zone and Provides Drill Campaign Update
Maple Gold Mobilizes Drill Rig to NW Zone and Provides
Drill Campaign Update
Montreal, Quebec--(Newsfile Corp. - February 24, 2020) -
Maple Gold Mines Ltd.
(
TSXV: MGM) (OTCQB: MGMLF) (FSE:
M3G
) (
"
Maple Gold
" or the "
Company
") is pleased to announce that a drill rig has been mobilized to the NW Zone where
drilling has commenced with a single drill-hole to test the lateral continuity of near-surface high grade mineralisation. Following
the completion of the NW Zone drill-hole, the Company plans to start drilling priority targets within the Nika Zone (4-5 holes
planned) and western part of the Porphyry Zone (8-9 holes planned, see Figure 1 below).
Fig. 1:
Distribution of 2020 drill sites on LiDAR base. Historical Au intercepts are plotted along drill-hole traces.
Pale blue lines
are lineaments and faults.
To view an enhanced version of Fig 1, please visit:
https://orders.newsfilecorp.com/files/3077/52703_d2ea1ac574c6ea4e_001full.jpg
531 Zone Update
The Company has completed two drill-holes at the 531 Zone, which included the deepening of last year's
drill-hole
(DO-19-262:
51 metres at 2.81 g/t Au and 28 m at 2.55 g/t) and a southern step-out hole to test down dip continuity (see press release
January 20, 2020). Drill core for these two drill holes has been shipped to ALS Laboratories with assays pending. The Company
also believes there is significant potential to add higher grade ounces along trend to the southeast and has several additional
sites permitted there for subsequent drilling. Maple Gold recently completed IP work (see press release January 29, 2020),
which included three (3) test lines also covering the potential south-southeast extensions at the 531 Zone. If results provide
further support for the Company's existing expanded target concept, additional drilling at the 531 Zone will receive elevated
priority and will be planned accordingly.
NW Zone - Drilling underway
Not unlike at the 531 Zone, there has been no recent drilling within the NW Zone resource area, except for a few step-out holes
collared outside the resource area in 2017 and 2018. As demonstrated by Maple Gold's 3D-model-guided drill-hole at the 531
Zone last year, the potential for new ideas and updated interpretations to lead to the discovery of significantly broader and higher
grade mineralisation is high at the Douay Project. The hole to be drilled here is a step-out hole meant to expand the NW zone
resource area to the west, by testing the western continuity of an adjacent near-surface high grade intercept averaging 3.15 g/t
Au over 8.9m from 41m downhole, significantly higher grade than the current resource at the NW Zone of 2.6 mt @ 1.14 g/t Au
for 96,000oz Au (RPA 2019).
Fig. 2:
Drill arriving at site, being mobilized to NW zone.
To view an enhanced version of Fig 2, please visit:
https://orders.newsfilecorp.com/files/3077/52703_d2ea1ac574c6ea4e_002full.jpg
Maple Gold's VP, Exploration, Fred Speidel, commented:
"We are intrigued by the potential of the NW Zone, particularly by
analogy with our 2019 success at the 531 Zone. The NW zone has the advantage of near-surface higher grade mineralisation
which we will seek to expand. Our objectives with our resource area drilling remain focused on areas we believe provide the
greatest potential to add higher grade ounces and impact future economic studies. We are also looking forward to new IP
results that could support new discovery drilling beyond the resource area later this winter."
Nika Zone - targeting the up-dip expression of 2018 discovery
The Nika Zone was established with the Company's 2018 discovery hole (DO-18-217), which intersected 51m of 1.77 g/t Au. In
2019, the Company completed two very aggressive 200 metre step-out holes, which both cut broad, lower grader halo
mineralisation. Drilling at the Nika Zone to-date, supported a new conceptual pit in the latest resource estimate, contributing over
100,000 inferred ounces at deposit-average grades (RPA 2019). Drilling at the Nika Zone in 2020 will include additional in-fill
holes aimed at better defining the up-dip, or near-surface expression of the higher grade mineralisation previously discovered,
as well as to continue filling in some of the drilling gaps on the eastern side of Nika, in order to expand the resource in that
direction. Significant mineralisation continues over 300m beyond the current Nika pit limits, so successful drilling within current
gap areas has the potential to bring significantly more mineralisation in-pit, and/or to expand the dimensions of the current pit.
Porphyry Zone - targeting higher grade extensions to the west
The Porphyry Zone represents one of the more recent discoveries (2004) and while significant drilling has been done, with
several areas having sufficient drill density to form part of the indicated resource category, there are several areas with broad
drill spacing, particularly in the northwest part of the Zone, where higher-than-deposit-average grades are also present near-
surface. Therefore a total of 8-9 drill-holes are planned in this area. In addition to the planned step-out and gap area drilling with
the current drill-rig, the Company is planning to mobilize an additional rig in the coming weeks to ramp up the program during the
second half of the winter season; an additional 5 holes are planned in the SE part of the Porphyry Zone.
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. Click the following link to review the Company's QA-
QC standards and protocols:
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.
"Matthew Hornor"
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Cell: 778.686.6836
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 mineralisation 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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