Maple Gold reports a new pit-constrained and underground Mineral Resource Estimate at Douay
Maple Gold reports a new pit-constrained and
underground Mineral Resource Estimate at Douay
Montreal, Quebec--(Newsfile Corp. - October 24, 2019) -
Maple Gold Mines Ltd.
(
TSXV: MGM) (OTCQB: MGMLF) (FSE:
M3G
) ("
Maple Gold
" or the "
Company
") is pleased to report a new Mineral Resource estimate for the Company's Douay Gold
Project, as prepared by Roscoe Postle Associates Inc. ("RPA"). In addition to new drill data from the winter 2018 and 2019
campaigns, the new estimate integrates the Company's new 3D geological and structural model to better constrain gold
mineralisation. At cut-off grades of 0.45 g/t Au for open pit resources and 1.0 g/t Au for underground resources, the Douay
deposit is estimated to contain
Indicated Mineral Resources of 8.6 million tonnes at an average grade of 1.52 g/t Au
, and
Inferred Mineral Resources of 71.2 million tonnes at an average grade of 1.03 g/t Au
(see Table 1; Figs. 1, 2).
The estimate includes several conservative adjustments with the aim of delivering a new resource estimate that will focus infill
and step-out drilling to optimise existing resources and advance the deposit toward the economic study stage. These
adjustments and changes include:
Adjustments to the conceptual pit shell slope assumptions (less steep) with pit shells now also extending to shallower
depths
Adjusted search ellipses with reduced projections between holes and from the last hole on the edge of any given
mineralised zone
Updated capping methodology, levels and spatial restriction to control the influence of higher-grade samples
Improved bulk density modelling of individual geological domains
Maple Gold's President & CEO, Matthew Hornor, stated
:
"This new estimate marks a major milestone for our technical
group, with a new comprehensive 3D model, conservative adjustments to better constrain reported resources, and an
increased focus on economic parameters. Our primary objective is to advance and de-risk the deposit as we aim to secure
strategic partnerships and bring the project to the economic study stage in the near future. The large gold endowment at
Douay provides excellent leverage to a higher gold price environment, but our team believes that demonstrating improved
economic viability for a subset of the total contained ounces at Douay will add significant value and further optionality in
terms of potential development plans."
Table 1 - Mineral Resource Statement as at October 23, 2019
Category
Tonnage (Mt)
Grade
Contained Metal
(Au g/t)
(000 oz Au)
Pit Constrained Mineral Resources
Indicated
8.6
1.52
422
Inferred
65.8
0.97
2.045
Underground Mineral Resources
Inferred
5.4
1.75
307
Total Mineral Resources
Indicated
8.6
1.52
422
Inferred
71.2
1.03
2,352
Notes:
1
.
CIM (2014) definitions were followed for Mineral Resources.
2
.
Mineral Resources are reported at an elevated cut-off grade of 0.45 g/t Au for open-pit Mineral Resources and a cut-off
grade of 1.0 g/t Au for underground Mineral Resources.
3
.
The Whittle pit shell used to estimate Mineral Resources used a long-term gold price of US$1,500 per ounce, however the
implied gold price for the Mineral Resources reported at the elevated cut-off grade would be significantly lower.
4
.
A US$/C$ exchange rate of 0.7, and a gold recovery of 90% were used.
5
.
A minimum mining width of 3 m was used.
6
.
Open pit resources are reported within a preliminary pit shell.
7
.
Bulk density is 2.71 t/m
3
or 2.82 t/m
3
depending on the zone.
8
.
Numbers may not add due to rounding.
9
.
Mineral Resources for Douay have been updated using data available to October 23, 2019.
Click the following link to view cut-off grade sensitivity table
reporting tonnages and grades within the pit shells at cut-offs
ranging from 0.25 - 0.65 g/t Au:
https://bit.ly/2obMteS
The deposit consists of nine mineralised zones; the Douay West and Porphyry zones account for the majority of the Mineral
Resources. Significant exploration potential exists below and within the pit shells: from blocks situated between mineralised drill-
holes too widely spaced to be included in the current estimate given the updated estimation parameters, and from undrilled gaps
between the broader mineralised zones in part outside the new pit shells.
Figure 1
below
shows pit-constrained mineralised
blocks at the 0.45 g/t Au cut-off grade, with black ellipses highlighting higher-grade (> 2 g/t Au blocks) on the edges of known
zones, which remain open and represent priority drill target areas.
Douay remains a bulk-tonnage type deposit with significant exploration upside within the known resource area and district-scale
greenfields exploration potential as well. The Project has excellent infrastructure and an almost entirely royalty-free gold
endowment (only 1% NSR on small NW Zone).
Fig. 1:
Plan view of RPA (2019) conceptual 3D pit shell with resource blocks at 0.45 g/t Au cutoff, and higher grade exploration
areas shown (black ellipses). Note new Nika conceptual pit shell, merging with pre-existing NW Zone conceptual pit shell, but still
detached from the Porphyry Zone. Note also new small conceptual pit shells in exploration areas to the NW of Douay West and
south of Porphyry Zones
To view an enhanced version of Fig. 1, please visit:
https://orders.newsfilecorp.com/files/3077/49088_875edc45f4e44a99_001full.jpg
Underground Exploration Potential*
RPA has stated that the potential tonnage and grade of additional underground mineralisation below the new pit shells could be
10 to 30 million tonnes, grading between 1.5 g/t Au and 2.5 g/t Au for approximately 0.5 to 1.5 million ounces gold. Figure 2
shows the RPA reporting shapes in green (307,000 Inferred ounces averaging 1.75 g/t Au), as well as the mineralised blocks at
various grades below the pit shells that were not included in the reporting shapes, and therefore not reported in the current
Mineral Resource statement, due to insufficient drilling. The Company's recent results from the single 531 Zone drill-hole during
2019 (included intercepts of 16m @ 4.58 g/t Au, 9m @ 4.92 g/t Au and 9m @ 4.71 g/t Au - see press releases June 5, 2019)
demonstrate the exploration potential for further higher-grade mineralisation. The black ellipses in Figure 2 below highlight
further exploration potential at depth.
*
The potential quantity and grade are conceptual in nature as there has been insufficient exploration to define a Mineral
Resource along strike from the resource area, and it is uncertain if further exploration will result in the target being delineated
as a Mineral Resource. The underground exploration potential estimated outside of the resource reporting pit shell is based
on areas of mineralisation intersected by drilling, but not necessarily supported by two drill holes, which was required for
Inferred Mineral Resources, plus the immediate down-plunge extension of known zones of mineralisation.
Fig. 2:
NW-SE longitudinal vertical section view (all zones) showing distribution of below-pit shell underground blocks above 1
g/t Au cut-off. Only blocks within reporting shapes (green shaded area) form part of inferred underground Mineral Resource.
Black ellipses point to undrilled exploration potential at depth, which is in addition to potential contributions from infill drilling in
areas with current blocks.
To view an enhanced version of Fig. 2, please visit:
https://orders.newsfilecorp.com/files/3077/49088_875edc45f4e44a99_002full.jpg
Additional Mineral Resource Estimation Details
The Douay drill database includes 824 drill holes totaling 250,374 m, of which 674 and 220,347 m were drilled within the
resource area. The resource wireframes are intersected by 539 holes for an accumulated interval length of 34,785 m. The three-
dimensional wireframe models were generated using a nominal 0.1 g/t Au cut-off, taking into account not only assays but also
geological and structural wireframes not available previously. Prior to compositing to three-metre lengths, high grade gold
assays were cut to a level appropriate for each zone. Block model grades were interpolated using inverse distance cubed (ID
3
).
Density values of 2.71 t/m
3
or 2.82 t/m
3
(depending on zone) were assigned to mineralised domains based on measurements
from core samples. The Mineral Resources were assigned Indicated or Inferred category for Porphyry and Douay West zones,
and Inferred only for other zones. The classification criteria used to define the Indicated Mineral Resources included spatial
analysis, drill-hole spacing, and continuity of the mineralisation. RPA reported the Inferred Mineral Resources within 75 m from
the drill intersection for most zones. The Porphyry Zone exhibits greater continuity and thicker intersections of mineralisation;
hence the Inferred category was extended to 100 m up dip within only three domains within the Porphyry Zones.
Qualified Persons
The Mineral Resources disclosed in this press release have been estimated by Ms. Dorota El Rassi, P.Eng., an employee of
RPA and independent of Maple Gold. By virtue of her education and relevant experience, Ms. El Rassi is a "Qualified Person"
for the purpose of National Instrument 43-101. The Mineral Resources have been classified in accordance with CIM Definition
Standards for Mineral Resources and Mineral Reserves (May, 2014). Ms. El Rassi, P.Eng. has read and approved the contents
of this press release as it pertains to the disclosed Mineral Resource estimates. Further information about key assumptions,
parameters, and methods used to estimate the Mineral Resources, as well as legal, political, environmental or other risks that
may affect the Mineral Resource estimate will be included in a NI 43-101 Technical Report to be filed on SEDAR within 45 days
following the date of this news release.
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. 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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