Maple Gold Reports Additional Intercepts from Winter Drilling Campaign, With 1.23 g/t Au over 75 metres, Including 1.61 g/t Au over 31m
Maple Gold Reports Additional Intercepts from Winter
Drilling Campaign, With 1.23 g/t Au over 75 metres,
Including 1.61 g/t Au over 31m
Montreal, Quebec--(Newsfile Corp. - June 10, 2020) - Maple Gold Mines Ltd.
(
TSXV: MGM) (OTCQB: MGMLF) (FSE:
M3G
) ("
Maple Gold
" or the "
Company
") is pleased to report further assay results from its 2020 winter drilling campaign at the
Douay Project. The western part of the Porphyry Zone is a high priority area for the Company, given the broad zones of relatively
shallow mineralization with demonstrated continuity, higher than deposit average grades, existing indicated resources (RPA
2019) and remaining drilling gaps in the area. The Company's latest drill hole
(DO-20-281) cut mineralization over 164
metres starting from 108m downhole (about 97m vertical depth).
Highlights for DO-20-281 and this western part of the
Porphyry Zone are given below:
➢
DO-20-281 cut multiple gold zones
, highlighted by
1.23 g/t Au over 75m from 108m downhole, including 15m of
1.32 g/t
Au, followed by 31m of 1.61 g/t Au
.
➢
After an intervening lower-grade zone
(0.30 g/t Au over 50m),
DO-20-281 intersected 0.85 g/t Au over 38m,
including 1.71 g/t Au over 5m
.
➢
DO-20-281
was collared about 130m NE of two historical drillholes
(DO-11-33 and DO-12-97), which were collared
about 30m apart and drilled in 2011 and 2012.
Maple Gold's new drillhole supports the updip continuity of
mineralization from these historical holes
,
which returned 1.14 g/t Au over 62.0m, including 3.0
g/t Au over 11.5m,
and 1.17 g/t over 163.5m, including 8.96 g/t Au over 9.0m respectively
, uncapped for DO-12-97 (see Fig. 2 and Table
2)
➢
DO-20-281
also
tested and supports downdip continuity of mineralization encountered in hole 70586, a
historical hole found within indicated resources
(RPA, 2019). That hole cut 0.98 g/t au over 13.6m from 78.3m
downhole, followed by 0.87 g/t Au over 93.6m from 107.6m downhole, including 2.04 g/t
Au over 14.2m.
➢
The Company's
2020 drilling appears to now link up multiple intercepts (new and historical) within a much
broader zone of mineralization
extending from top of bedrock to the base of the current conceptual pit in this area.
Maple Gold's VP, Exploration, Fred Speidel, commented:
"We are very pleased with our 2020 drill results from the western
part of the Porphyry Zone, in particular with the higher-than-deposit-average grades over significant widths, as well as with the
hole to hole and section to section continuity; our team is already in the process of defining drillhole locations for the next phase
of drilling in this area. Given its characteristics, this area has the potential to positively impact project economics, and given the
fact that the northern and eastern limits of this zone are still not fully defined, we intend to further test this area in our next drill
campaigns."
New assay results from DO-20-281 build on those recently reported from DO-20-280 and DO-20-283 (see press release May
27, 2020, Fig. 1 and Fig. 2, and Table 1 below), as well as those from historical holes 70586, DO-11-33, and DO-12-97 (see
Fig. 2 and Table 2). These holes show some of the longest intercepts anywhere on the property. Note that the mineralized
envelope in DO-20-281 extends well below the reported intercept (Fig. 2). Indicated resources (RPA 2019) shown in Fig. 2 and
Fig. 3 are still limited due to previously sparse drilling; the maximum projection distance from any given hole for the indicated
category is 50-60 metres (RPA, 2019).
Fig. 1:
Drill plan on aeromagnetic base showing main 2020 drill holes in western part of Porphyry Zone and gold intercepts.
Note two clusters of more continuous gold mineralization, the easternmost of which still has relatively sparse drilling.
To view an enhanced version of Fig 1, please visit:
https://orders.newsfilecorp.com/files/3077/57590_43f28be32434dbca_001full.jpg
Fig. 2:
NS Section 705900E looking west, 40m corridor either side. See Table 1 and 2 for 2020 and historical assays.
To view an enhanced version of Fig 2, please visit:
https://orders.newsfilecorp.com/files/3077/57590_43f28be32434dbca_002full.jpg
Fig. 3:
Oblique view (looking down) of block model showing
distribution of 2020 and historical drillholes and Indicated
Resources (RPA 2019) in the western part of the Porphyry Zone, as well as additional target areas.
To view an enhanced version of Fig 3, please visit:
https://orders.newsfilecorp.com/files/3077/57590_43f28be32434dbca_003full.jpg
Click the following link to view the latest drill results in 3D
:
https://bit.ly/2UtmyfP
Mineralization in the western part of the Porphyry Zone is mostly intrusive-hosted, with sulphide mineralization often associated
with quartz-calcite-fluorite veinlets and crackle breccias (Fig. 4). This style of mineralization is distinctive when compared to the
contact style of mineralization (mixed syenite and basalt) or the structurally-controlled, basalt-hosted mineralization.
Fig. 4: Selected core from DO-20-281, from interval 152-153m, which graded 4.35 g/t Au
. NQ core = 47.6mm diameter
NQ core. Note that this core is not necessarily representative of all Douay mineralization.
To view an enhanced version of Fig 4, please visit:
https://orders.newsfilecorp.com/files/3077/57590_43f28be32434dbca_004full.jpg
Both historical and winter 2020 drilling results support the Company's perception that the western part of the Porphyry Zone has
better-than-average mineralization; key objectives of future drilling in this area will therefore be to better define the limits of
mineralization, not only to the north, but also to the east where a number of drilling gaps exist (see Fig 1), and also to upgrade
inferred resources to indicated resources in this area.
Table 1: Summary of 2020 Assay Results for Western Part of Porphyry Zone
Hole
UTME
UTMN
Azimuth
Plunge
Length
(m)
From
To
Interval
Au g/t
DO-20-280
705875
5491138
360
-55
327
69
73
4
0.85
DO-20-280
88
92
4
1.14
DO-20-280
106.5
108
1.5
1.61
DO-20-280
141
145
4
0.96
DO-20-280
239
240
1
2.63
DO-20-281
705938
5490930
359
-58
294
107
271
164
0.86
including
108
183
75
1.23
including
108
113
5
1.79
including
121
136
15
1.32
including
152
183
31
1.61
DO-20-281
183
233
50
0.30
DO-20-28
233
271
38
0.85
including
233
236
3
1.32
including
257
262
5
1.71
including
268
271
3
1.67
DO-20-283
705933
5490921
359
-58
300
107
129
22
0.35
DO-20-283
162
166
4
1.04
DO-20-283
181
183
2
0.64
DO-20-283
189
206
17
1.91
including
189
193
4
1.67
including
195
201
6
2.28
including
202
205
3
3.17
including
203
204
1
5.25
DO-20-283
239
240
1
1.46
DO-20-283
253
254
1
1.27
DO-20-283
293
300
7
1.06
including
298
300
2
1.60
Notes:
All lengths are downhole, true widths are 85% or more of downhole lengths as can be seen in Fig. 2. Note that all of the
individual sample assays are below 15 g/t Au, the capping level that would be applied for the Porphyry Zone in a resource
estimation (RPA, 2019). Therefore equivalent capped intercepts are not applicable here.
Table 2: Summary of select historical results on section 705900 E (see Fig. 2)
Hole
UTME
UTMN
Azimuth
Plunge
Lenght (m)
From
To
Interval
Au g/t
70586-0
705874
5490968
360
-50
219.3
78.3
91.8
13.6
0.98
70586-0
107.6
201.2
93.6
0.87
including
112.9
120.8
7.9
1.21
including
136.3
150.5
14.2
2.04
70597-0
705750
5491056
85
-50
243.4
61.4
76.4
15.0
1.33
or capped
61.4
76.4
15.0
*1.29
including
62.9
67.7
4.7
3.15
or capped
62.9
67.7
4.7
*3.03
70597-0
119.6
212.5
92.9
1.17
including
148.3
157.4
9.1
2.80
DO-11-33
705870.5
5490800
360
-50
379.0
235.0
250.0
15.0
0.77
DO-11-33
261.5
271.8
10.3
1.44
DO-11-33
282.0
344.0
62.0
1.14
including
314.0
325.5
11.5
3.00
DO-11-33
368.5
378.0
9.5
0.60
DO-12-97
705900.1
5490802
360
-58
512.9
255.0
418.5
163.5
1.17
or capped
255.0
418.5
163.5
*1.01
including
304.5
313.5
9.0
8.96
or capped
304.5
313.5
9.0
*6.05
DO-18-230
705899
5490645
359
-54
570.0
174.2
179.0
4.8
1.25
DO-18-230
368.0
369.0
1.0
17.65
DO-18-230
374.0
376.0
2.0
1.94
DO-18-230
388.0
412.0
24.0
0.69
including
389.0
396.0
7.0
1.17
DO-18-30
431
434
3.0
1.10
including
445.4
451.1
5.7
0.75
Notes:
All lengths are downhole, true widths are 85% or more of downhole lengths as can be seen in Fig. 2. For intercepts
including assays over 15 g/t Au, capped equivalent also given, identified with an asterisk (*).
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; drillhole 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 the Val d'Or,
QC, 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 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
Executive Vice-President
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 mineralization 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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