Maple GOLD Reports Fall 2021 Drill Results at Douay, Including 4.63 G/T GOLD over 6.7 Metres Within 1.54 G/T GOLD over 32.2 Metres at the 531 Zone, and Makes Equity Incentive Plan Grants
PRESS RELEASE
April 5, 2022
MAPLE GOLD REPORTS FALL 2021 DRILL RESULTS AT DOUAY, INCLUDING
4.63 G/T GOLD OVER 6.7 METRES WITHIN 1.54 G/T GOLD OVER 32.2 METRES
AT THE 531 ZONE, AND MAKES EQUITY INCENTIVE PLAN GRANTS
Vancouver, BC – (Newsfile Corp. – April 5, 2022) - Maple Gold Mines Ltd. (TSX -V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the " Company") is pleased to report final
assay results from the Fall 2021 drill program at the Company’s Douay Gold Project ("Douay"
or the "Project") in Quebec, Canada, which is held by a 50/50 joint venture (the "JV") between
the Company and Agnico Eagle Mines Limited . The JV completed a total of seven (7) holes
and roughly 3,420 metres ("m") under the Fall 2021 drill program, with every hole intersecting
multiple intervals of >1 gram per tonne gold ("g/t Au").
Highlights:
• Drill hole DO-21-316 at the 531 Zone intersected 1.54 g/t Au over 32.2 m (from 430.0
m downhole), including 4.63 g/t Au over 6.7 m within 2.13 g/t Au over 18.9 m.
• DO-21-316 intercepts are located approximately 135 m down -plunge from the best
intercept drilled to -date at the 531 Zone (DO-21-310; see news from September 9,
2021) and below the SLR 2022 NI43-101 Mineral Resource Estimate ( "SLR 2022 ")
conceptual pit limits , indicating down-plunge continuity of high-grade mineralized
trends and resource expansion potential at depth in the 531 Zone.
• Drill hole DO-21-317 intersected three discrete gold zones: 5.58 g/t Au over 3.0 m (from
258.0 m downhole) ; 1.62 g/t Au over 16.0 m (from 284.0 m downhole) ; and 3.42 g/t
Au over 8.0 m (from 369.0 m downhole).
• DO-21-317 intercepts are located up-plunge relative to the DO -21-310 intercept and
within a different stratigraphic horizon relative to DO-21-316 that is also favourable for
gold mineralization, indicating multiple stacked gold zones that remain open.
“Our exploration team has delivered significant drill intercepts every year at the 531 Zone since
2019 when our targeting became supported by 3D model ling,” stated Fred Speidel , VP
Exploration of Maple Gold. “ These new intercepts further support our belief that there are
multiple stacked gold zones with apparent cross -plunges that appear to be structurally
controlled. Demonstrated gold mineralization combined with a general lack of drilling has our
team excited about the potential for the 531 Zone to deliver addition al pit-constrained and
underground resources as we continue with larger step-out and deeper drilling in 2022.”
Fall 2021 Drill Program Interpretation and Summary of Results
The JV’s Fall 2021 drill program included drilling in three separate areas (see Figure 1 for drill
hole locations) outlined below with corresponding objectives:
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1. 531 Zone (3 holes): Targeting further up-plunge and down-plunge along one of the two
main interpreted mineralized trends (see Figure 2).
2. Central Zone (2 holes): Located 450 m and 650 m east of the SLR 2022 Central Zone
conceptual pit and designed to test the eastern continuity of sediment-hosted gold
mineralization and support further drilling along a 700 m drilling gap (see Figure 1).
3. Nika Zone / Porphyry Zone Gap Area (2 holes): The Porphyry Zone and Nika Zone
are geologically similar and the se two drill holes were drilled in the gap area between
these two zones and their respective SLR 2022 conceptual pits.
Figure 1: Douay plan view map highlighting Fall 2021 drill hole locations
The 531 Zone has several geological similarities to the Douay West Zone; however, the former
has seen significantly less drilling to -date (see Figure 1) and represents a n opportunity to
expand resources with mineralization remaining open in multiple directions.
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Figure 2: North-looking 531 Zone section (50 m total width) with SLR 2022 resource blocks and drill
hole locations.
Figure 2 shows gold mineralization extending down-plunge over 300 m from D-93-08 through
DO-21-317 to beyond DO-21-316 and then to 70531 (the original 531 Zone discovery hole).
Mineralization remains open along both trends (blue and red arrows) at the 531 Zone. Apart
from historical drillholes D-92-41 (2.0 g/t Au over 22.9 m) and D-93-08 (1.52 g/t Au over 13.7m),
there is no drilling up -plunge to test at shallower depths on this section (see Figure 2 above)
leaving mineralization open toward surface. DO-21-319 (2.12 g/t Au over 2.20 m, including
3.56 g/t Au over 1.5 m and 1.44 g/t Au over 5 m, including 2.47 g/t Au over 2.0 m) was an
approximately 160 m step-out drill hole (mostly off section in Figure 2) that appears to have
just intersected the lower edge of westerly-plunging mineralization in this area, which warrants
follow-up drilling.
A second, roughly perpendicular trend or “cross-plunge”, currently less defined but consistent
with the typical easterly-plunging mineralization at Douay, is supported by current geological
interpretations and the distribution of SLR 2022 resource blocks. This trend is also open to
depth with very little drilling (red arrow) , but does include DO -20-262X, one of the most
significant holes drilled at 531 Zone (see news releases from June 5, 2019 and March 16,
2020).
The DO-21-316 intercept (1.54 g/t Au over 32.2 m, including 2.13 g/t Au over 18.9 m and 4.63
g/t Au over 6.70 m) is hosted in bleached, massive, and relatively homogenous brecciated
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mafic intrusive that is geologically similar to the previously reported DO -21-310 intercept (8.8
g/t Au over 28 m) located approximately 135 m up-plunge. The DO-21-317 intercepts (5.58 g/t
Au over 3.0 m; 1.62 g/t Au over 16.0 m; and 3.42 g/t Au over 8.0 m) are hosted in altered and
mineralized fenitized basalts or interflow sediments, also favourable for gold, and are
interpreted as additional stacked gold zones.
The altered mafic (and to a lesser degree sedimentary ) host rocks, as observed in drill core,
point to the possibility of an additional alkaline intrusive complex beneath the 531 Zone. The
JV’s ongoing and planned drilling in 2022 includes larger step-out and deeper drilling to target
areas with significant resource expansion potential. Drill testing the 531 Zone at greater depths
continues to rank high on the JV’s priority list.
Central Zone drilling intersected multiple narrow zones of mostly sediment-hosted gold
mineralization, including multi-gram intercepts in both drill holes. DO-21-318 intersected 2.53
g/t Au over 4.0 m (from 286.0 m downhole); DO-21-315 intersected 1.25 g/t Au over 4.0m (from
260.0 m downhole) and 4.24 g/t Au over 1.0 m (from 362.0 m downhole). Collectively, these
two holes confirm that gold mineralization continues well to the east of the current SLR 2022
Central Zone conceptual pit and support drilling still further to the east along a 700 m drilling
gap.
Drilling in the Nika Zone intersected multiple broad intervals of lower-grade mineralization in a
gap area with very limited drilling between the Nika and Porphyry Zones (see Figure 1 and
Table 1). This gap area has a similar magnetic signature as the centre of the Nika Zone (some
500 m to the northwest) where hole DO-21-282X intersected 1.58 g/t Au over 132 m (see news
release from May 26 , 2021) . Given the general lack of drilling within this gap area , and
particularly the presence of near -surface gold mineralization starting at top of bedrock, the
results will be further interpreted with the aim of vectoring in towards larger near-surface
concentrations of >1 g/t Au mineralization.
Complete Fall 2021 drill program results at Douay are included in Table 1 below.
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Table 1 – Summary of Fall 2021 Drill Program Results at Douay
Notes: All intervals are downhole core lengths. True widths estimated to be approximately 70-90% of core lengths.
Hole Zone UTME UTMN Azimuth Plunge Length (m) From To Interval Au g/t
DO-21-316 531 708848 5489920 10 -53.9 531 315.0 316.0 1.0 2.24
DO-21-316 374.0 375.0 1.0 1.11
DO-21-316 393.5 395.3 1.8 4.72
DO-21-316 430.0 462.2 32.2 1.54
Including 431.0 436.0 5.0 1.30
including 443.3 462.2 18.9 2.13
Including 443.3 450.0 6.7 4.63
DO-21-316 520.0 522.0 2.0 1.60
DO-21-317 531 709050 5490010 360 -57 402 206.0 207.0 1.0 1.81
DO-21-317 256.0 262.0 6.0 3.03
including 258.0 261.0 3.0 5.58
DO-21-317 277.0 279.0 2.0 1.38
DO-21-317 284.0 310.0 26.0 1.36
including 284.0 300.0 16.0 1.62
DO-31-317 322.0 323.0 1.0 2.37
DO-21-317 328.0 331.0 3.0 1.11
DO-21-317 369.0 377.0 8.0 3.42
including 369.0 374.0 5.0 4.92
DO-21-319 531 708666 5489873 354 -58.7 628.5 562.0 564.6 2.5 2.21
including 563.0 564.6 1.5 3.04
DO-21-319 567.0 572.0 5.0 1.44
including 568.0 570.0 2.0 2.47
DO-21-315 Central 707524 5491163 360.0 -50 432 99.0 101.0 2.0 0.76
DO-21-315 260.0 264.0 4.0 1.25
DO-21-315 350.8 353.0 2.2 0.52
DO-21-315 362.0 363.0 1.0 4.24
DO-21-318 Central 707325 5491200 358.5 -57 420 83.1 85.0 1.9 1.42
DO-21-318 286.0 290.0 4.0 2.53
DO-21-318 315.0 316.0 1.0 1.56
DO-21-318 378.5 383.0 4.5 0.72
including 382.0 383.0 1.0 1.44
DO-21-313 Nika 705550 5491330 360.0 -68.6 600 66.0 87.0 21.0 0.35
including 81.0 82.0 1.0 1.14
DO-21-213 278.0 309.0 31.0 0.24
DO-21-213 332.0 358.0 26.0 0.24
DO-21-213 397.0 401.0 4.0 0.80
DO-21-213 438.0 439.0 1.0 1.16
DO-21-314A Nika 705733 5491338 359.0 -50.5 405 31.6 32.3 0.7 0.75
DO-21-314A 259.0 261.0 2.0 0.92
including 259.0 260.0 1.0 1.15
DO-21-314A 272.0 274.0 2.0 0.72
including 272.0 273.0 1.0 1.03
DO-21-314A 352.0 366.0 14.0 0.45
including 354.0 355.0 1.0 1.17
including 359.0 360.0 1.0 1.27
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Annual Equity Incentive Plan Grants
Pursuant to its Equity Incentive Plan (the "Plan") dated December 17, 2020 and the policies of
the TSX Venture Exchange, the Company has granted stock options ("Options"), Restricted
Share Units ("RSUs") and Deferred Share Units ("DSUs") to certain employee s, officers and
directors of the Company.
Options to purchase an aggregate of 3, 500,000 common shares of the Company (each, a
"Common Share") were granted, with an exercise price of $0.42 per Common Share. Each
Option grant vests one-third on the date of the grant, one-third 12 months from the date of the
grant and one -third 24 months from the date of the grant. Once vested, each Option is
exercisable into one Common Share for a period of five years from the date of the grant.
The Company also granted a to tal of 3,530,000 RSUs and 900,000 DSUs. Each RSU grant
vests one-third on April 30, 2022, one-third 12 months from the date of the grant and one-third
24 months from the date of the grant. Once vested, each RSU and DSU entitles the holder
thereof to receive either one Common Share, the cash equivalent of one Common Share or a
combination of cash and Common Shares, as determined by the Company, net of applicable
withholdings.
Further details regarding the Plan are set out in the Management Information Circular of the
Company filed on May 19, 2021, which is available on SEDAR.
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., Vic e-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.
Quality Assurance (QA) and Quality Control (QC)
The JV 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
ALS laboratories in Val-d'Or, QC; sample preparation for assaying; and analysis, recording
and final statistical vetting of results. For a compl ete description of protocols, please visit the
Company's QA/QC webpage at www.maplegoldmines.com.
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
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projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The pr ojects benefit from
exceptional infrastructure access and boast ~400 km 2 of highly prospective ground including
an established gold resource at Douay (SLR 2022) that holds significant expansion potential
as well as the past -producing Eagle, Telbel and Eagle 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 polymetallic 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]
Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: [email protected]
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 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 w ork 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 place undue reliance on forward -looking statements. For a more detailed
discussion of such risks and other factors that co uld 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.