Maple GOLD Outlines VMS-Focused Exploration Targeting and Summer Field Program
PRESS RELEASE
May 18, 2023
MAPLE GOLD OUTLINES VMS-FOCUSED EXPLORATION TARGETING
AND SUMMER FIELD PROGRAM
Vancouver, BC – (Newsfile Corp. – May 18, 2023) – Maple Gold Mines Ltd. (TSX-V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to provide an
update regarding property-wide volcanogenic massive sulfide ("VMS") targeting and plans for
a summer field program at the Douay and Joutel Gold Projects ("Douay" and "Joutel",
respectively) located in Québec, Canada, which are held by a 50/50 joint venture (the "JV")
between the Company and Agnico Eagle Mines Limited. The Company is also planning VMS
exploration work at its 100% -owned Morris Project ("Morris") located approximately 30
kilometres ("km") east of the town of Matagami in Morris Township, Québec.
The JV's primary focus remains on testing resource expansion targets at Douay and testing
prospective near-mine extension targets in the Telbel mine area at Joutel. However, the Douay
and Joutel projects each have demonstrated potential for gold and base metals VMS
mineralization, as is illustrated by a series of targets previously defined by field mapping and
geophysical surveying across the combined 400 km² property package (see news from July
19, 2022). Under the terms of the JV agreement, the partners agreed to jointly fund C$500,000
in exploration on VMS targets on the western portion of Douay (see news from February 3,
2021).
Summary of VMS-focused exploration and corporate initiatives:
• The Company's mapping, sampling and top of bedrock drilling during 2018 identified six
(6) priority target areas for potential base metals and gold-rich VMS mineralization (see
press release November 14, 2018).
• The Company subsequently appointed Dr. Gérald Riverin, a recognized VMS expert
with 40+ years of experience in the Abitibi Greenstone belt, to its board of directors and
Technical Advisory Committee (see news from June 9, 2020).
• In late 2021, the JV consolidated two (2) inlier claim blocks covering 22 claims and 12.3
km² of ground in the central portion of Douay in an area deemed prospective for zinc
and copper mineralization (see news from October 19, 2021).
• Also in 2021, the Company acquired 100% of Morris and completed preliminary ground
geophysics and lithogeochemical sampling. In 2022 and 2023, the Company completed
deep penetrating pulse electromagnetic ( "PEM") surveys that outlined a 3 km long
conductive zone adjacent to a favorable rhyolite unit.
• In 2022, the JV completed a regional airborne magnetic and electromagnetic ("Mag -
EM") survey to support exploration drill targeting, which identified 55 targets within four
(4) primary target areas prospective for pyritic gold and VMS mineralization (see news
from July 19, 2022). After geophysical review, sixteen (16) of these targets were
selected for priority follow-up (see Figure 1).
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• In 2023, the Company appointed Paul Harbidge, CEO of Faraday Copper Corp., an
emerging U.S. copper de veloper, to its Technical Advisory Committee to further
strengthen the Company's technical group and support gold and base metals
exploration (see news from February 7, 2023).
• The JV has recently hired Dr. Marina Schofield, an expert in volcanology, struct ural
geology and VMS systems, to lead the Company's VMS exploration efforts.
"We have methodically built a pipeline of prospective gold and base metals VMS targets across
the large >400 km² Douay-Joutel property package and have expanded our technical expertise
in order to systematically evaluate and advance a VMS -focused exploration program," stated
Matthew Hornor, President and CEO of Maple Gold. "The past-producing high-grade Estrades
zinc-gold mine is located just over 11 km to the west of Douay -Joutel and the same geologic
horizon that hosted that mine appears to continue onto the western p ortion of the Douay
property. Further to the southeast, historical regional exploration drilling along the Joutel
Deformation Zone, east of the historical Eagle -Telbel deposits, has also returned anomalous
zinc and gold values . W e look forward to completing further cost -effective field work this
summer to bring the highest priority VMS discovery targets to a drill-ready stage."
VMS Targets and Associated 2023 Summer Exploration Plans:
Figure 1: Geology base map highlighting VMS and VMS -like base metal mines and deposits in the
region and copper-zinc showings.
The Douay-Joutel property straddles the Casa Berardi Deformation Zone, which is geologically
underlain, from south to north, by predominan tly intermediate to felsic tuffs of the Joutel -
Raymond Grp, the basinal sediments of the Harricana Grp and the predominantly mafic
volcanic sequence forming the Cartwright Hills Grp, follow ed by further basinal sediments of
the Taïbi Grp. Although the geol ogical model for Eagle -Telbel is still evolving, gold
mineralization was associated with mixed sedimentary and pyroclastic horizons hosting
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abundant iron carbonate and semi-massive sulfide (pyrite) at the top of the volcanic package
that hosts the past-producing Joutel/Poirier VMS mining camp. The main VMS target horizons
occur laterally along the Eagle-Telbel Mine Horizon, as well as along multiple interflow horizons
within The Cartwright Hills Grp, which include the interpreted eastern extension of the Estrades
horizons.
Figure 2: Gold, VMS and base metal target areas in the greater Joutel area (same legend as Fig 1).
The Joutel Targets (see Figure 2 above) include several EM anomalies within ~2-5 km of the
historical Eagle, Telbel and Eagle West deposits that have very limited drilling. These deposits
are associated with the Harricana and Joutel Deformation Zones and appear as discrete
conductive zones aligned along a well-defined northwest trend. The Mag-EM survey indicates
possible similar structures extending more than 9 km further to the east in this area where
historical drilling intersected anomalous gold ( "Au") and zinc ( "Zn") in several holes. Hole M-
94-078 (also known as McClure 93 -2 showing) intersected 0.81% Zn over 0.6 metres ( "m");
hole JO -12-05 intersected 6.1 g/t Au over 1.5 m, as well as 0.55% Zn over 4 m further
downhole, including 0.88% Zn over 1m.
Planned work to advance VMS targets at Douay and Joutel is expected to include compilation
of existing data, including review of historical drill logs, followed by field work including
lithogeochemistry and initial follow-up ground EM surveys to support bringing highest priority
VMS target areas towards a drill ready stage.
Separately, planned work at Morris is expected to include detailed lithogeochemical sampling
to establish the full extent of strong VMS related hydrothermal alteration identified in 2021 and
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identify promising portions of the 3 km long conductor identified by ground geophysics in 2022
and 2023 (see Figure 3). Morris is located approximately 30 km east of the Matagami VMS
mining camp and hosts the Watson Lake rhyolite unit which forms the footwall of all the VMS
mines at Matagami.
Figure 3: 100% owned Morris claims with geology and geophysics compilation. Favorable alteration is
highlighted by higher Riverindex values.
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 Québec's prolific Abitibi Greenstone Gold Belt. The pr ojects benefit from
exceptional infrastructure access and boast ~400 km 2 of highly prospective ground including
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an established gold resource at Douay (SLR 2022) that holds significant expansion potential
as well as the past -producing Eagle, Telbel and Eagl e 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 polym etallic 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]
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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.