Maple Gold releases initial drill results from the Porphyry Zone
Maple Gold releases initial drill results from the
Porphyry Zone
Montreal, Quebec--(Newsfile Corp. - May 29, 2019) -
Maple Gold Mines Ltd.
(
TSXV: MGM
) (
OTCQB: MGMLF
) (
FSE: M3G
)
("
Maple Gold
" or the "
Company
") is pleased to report initial results from the Porphyry Zone, where the Company has now
received assays for three complete drill-holes. The highlighted intercepts below are from two drill-holes within the central portion
of the Porphyry Zone, collared approximately 540m apart (see Fig. 1 and Table 1).
DO-19-256 demonstrated the presence of higher-grade mineralisation near-surface
, cutting
16m averaging 1.57
g/t Au from 77m downhole
(67m estimate vertical depth), plus an additional 11m averaging 1.00 g/t Au further up-hole.
This shallow mineralisation remains open to the north.
DO-19-258 intersected multiple higher grade zones, with a best of 19.0m averaging 2.46 g/t Au, including 6m
averaging 5.11 g/t Au,
which also
includes 26.7 g/t Au over 1m
(see Table 1).
These intercepts are within a broader
41m interval (including lower grade material) averaging 1.41 g/t Au (all uncapped) from 274 downhole (225m estimated
vertical depth), which
supports the down-dip continuity
of mineralisation and remains open
to depth downhole).
The primary objective of the drilling in the central part of the Porphyry Zone was to demonstrate continuity of higher grade
mineralisation, both near surface and at moderate depths; results from the highlighted holes support this concept in both
regards.
DO-19-256, meant to demonstrate the presence of near-surface mineralisation, was drilled entirely in intrusive rocks, including
strongly altered and mineralised syenite (Fig. 2) closer to surface, with mineralisation cut off in the lower half of the hole by a
fracture/fault zone and post-mineralization alkaline gabbros and fluorite-rich carbonatite dykes.
DO-19-258 was drilled to test the down-dip continuity of a significant intercept from 2012 (DO-12-95) collared on the same
section (see Fig. 3). Results support the down-dip continuity of this mineralised zone, with comparable intercepts in each case.
Both 2019 and previous drill results outline a much broader mineralised envelope (includes lower grade material), as shown in
Fig. 3; the broader lower-grade halo in DO-19-258 extends for more than 175 metres downhole. This hole ended at 342m
downhole in geologically similar rocks as the highlighted intercept, including 1.17 g/t Au from 338-339m, leaving this mineralised
zone open both down-dip and downhole.
Maple Gold's VP Exploration, Fred Speidel, commented:
"Initial drilling results from Porphyry Zone lend support to the
concept of a near-surface higher-grade zone, as well as for the down-dip continuity of higher grade mineralisation at modest
depths. Additional drilling is required to better define the ultimate down-dip continuity for this area, consistent with our current
focus on not only optimizing the near-surface resource, but also assessing the potential significance of deeper mineralisation
at Douay."
Fig. 1:
Drill plan on magnetic base. Only the three drill-holes referenced in Table 1 are labelled.
To view an enhanced version of Fig. 1, please visit:
https://orders.newsfilecorp.com/files/3077/45113_510e6904147ffb1e_001full.jpg
Table 1:
Main intercepts from initial Porphyry Zone Results
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/3077/45113_510e6904147ffb1e_002full.jpg
*Applies 13 g/t Au gold capping value for Porphyry Zone (Micon 2018). Re-assay of the 26.7 g/t Au sample returned 30.4 g/t Au.
True widths estimated to be ~90% of downhole widths.
Click the following link to view drill core photographs
for highlighted intercepts:
https://maplegoldmines.com/index.php/en/projects/maps-figures
Fig. 2:
Section 705900E including hole DO-19-256. Note that this near-surface mineralised zone is open to the north. Broader
mineralised zone is defined using 0.1 g/t Au cut-off, but may include internal lower grade material.
To view an enhanced version of Fig. 2, please visit:
https://orders.newsfilecorp.com/files/3077/45113_510e6904147ffb1e_003full.jpg
Fig. 3:
Section 706375E, including hole DO-19-258, illustrating the down-dip continuity of mineralisation cut in historical hole
DO-12-95; mineralisation remains open to depth (down-dip and downhole). Note variable individual sample grades in
highlighted DO-19-258 drill intercept, the longest black bar is equal to 26.7 g/t Au.
To view an enhanced version of Fig. 3, please visit:
https://orders.newsfilecorp.com/files/3077/45113_510e6904147ffb1e_004full.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 ALS
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 ~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
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
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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