Maple GOLD Reports Final Assay Results at Eagle and Completes More Than 7,000 Metres of Deep Drilling at Telbel
PRESS RELEASE
April 6, 2023
MAPLE GOLD REPORTS FINAL ASSAY RESULTS AT EAGLE AND COMPLETES
MORE THAN 7,000 METRES OF DEEP DRILLING AT TELBEL
Vancouver, BC – (Newsfile Corp. – April 6, 2023) – Maple Gold Mines Ltd. (TSX -V: MGM)
(OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to report results
from the final 20% of assays that were received from the previously completed 14,720 metres
("m") of drilling at the 100% -controlled Eagle Mine Property ("Eagle"). The Company is also
pleased to report that more than 7,000 m have now been completed (6,000 m planned) at the
Telbel Mine area of the Joutel Project, which is held by a 50/50 joint venture (the "JV") between
the Company and Agnico Eagle Gold Mines Limited.
The final batch of assays received from completed drilling at Eagle correspond to
approximately 3,000 m of the 14,7 20 m drilled to-date. The results continue to demonstrate
continuity of mineralization and the potential significance of the multiple horizons/splays to the
northwest of the former Eagle mine. Highlights include (see Table 1 and Figure 1 for highlighted
results from all Maple Gold drilling at Eagle to-date):
• EM-22-008W intersected 6.2 grams per tonne ("g/t") gold ("Au") over 2.0 m in the South
Mine Horizon ("SMH") and 4.2 g/t Au over 3.9 m in sediments further downhole.
• EM-22-006W1 intersected multiple intercepts including 6.5 g/t Au over 1.2 m and 2.0 g/t
Au over 3.0 m in the SMH and 2.3 g/t Au over 3.0 m at the microgabbro/Harricana
sediment contact further downhole.
• EM-22-006W4 intersected 4.0 g/t Au over 0.7 m within a broader 1.1 g/t Au over 14.2
m intercept within the SMH.
• EM-22-017A intersected 2.9 g/t Au over 2.0 m and additional lower grade over broader
near-surface intervals (1.0 g/t Au over 15.5 m from 93 m downhole).
“We have come along way since first consolidating the Joutel ground into our JV property
package,” stated Matthew Hornor, CEO of Maple Gold. “All of our exploration and drilling work
along the past -producing Eagle-Telbel mine trend is designed with the aim of defining high -
grade zones of gold mineralization and additional mineral resources to complement the
established potentially bulk -mineable resource present at Douay. Our first year of drilling at
Eagle has more than covered our exploration spending commitments to earn a 100% interest
and we are now in position to finalize our compilation and model updates to support focused
follow-up drilling in areas we believe have the most promise to deliver additional high -quality
ounces.”
Overview Summary and Key Takeaways from Drilling at Eagle
The Eagle-Telbel Mine trend produced 1.1 Moz at 6.5 g/t Au from 1974 – 1993, during a period
when the price of gold averaged approximately $350 per ounce. During the first year of the JV
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(2021), all historical mining, stope and drilling data was digitized to underpin a new 3D
geological model. The Company signed an option agreement to acquire a 100% interest in the
Eagle Mine Property (see press release July 19, 2021) and has since completed more than
21,500 m of drilling across the 4 km long Eagle-Telbel Mine trend, with 14,720 m at Eagle (see
Figure 1) and more than 7,000 m (assays pending) of JV drilling at Telbel.
The Company’s drilling to -date at Eagle has served to confirm that gold mineralization is not
limited to a narrow stratigraphic interval (Eagle -Telbel Mine Horizon) but instead covers a
significantly broader stratigraphic interval of over 100 m straddling the Harricana Deformation
Zone. Drill core observations also support the Company’s concept of a significant structural
component to gold mineralization in the form of an orogenic gold overprint.
Figure 1: Plan view map showing drilling to-date at Eagle with highlighted intercepts.
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Several highlights from the Company’s first year of drilling at Eagle are summarized below
(see Figure 1 above for locations):
• EM-22-005: 4.0 g/t Au over 7.5 m, including 6.4 g/t Au over 3.0 m
• EM-22-009: 11.4 g/t Au over 3 m, including 24.4 g/t Au over 1 m
• EM-22-013: 2.3 g/t Au over 10.4 m, including 5.0 g/t Au over 3.2 m
• EM-22-015: 10.3 g/t Au over 7.8 m, including 41.1 g/t Au over 1.0 m
• EM-22-015: 4.3 g/t Au over 3.9 m, including 7.4 g/t Au over 1.5 m
• EM-22-016: 3.1 g/t Au over 7.3 m, including 4.0 g/t Au over 3.6 m
When combining the Company’s drilling results and observations with notable historical results
and new geophysical data, several priority target areas emerge along the SMH and North Mine
Horizon ("NMH"); including multiple cross -plunging target concepts th at will form part of the
focus for the Company’s next phase of drilling (~5,000 m). The Company has initiated target
definition and permitting work for a planned summer 2023 follow -up program at Eagle (see
press release March 16, 2023) and priority follow-up targets will also be defined at Telbel once
assay results have been received and interpreted from the first phase of deep drilling.
Figure 2: Oblique view showing SMH and NMH trends with grade contouring and highlighted pierce
points with corresponding intercepts and target areas.
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Table 2: Highlighted Assay Results from Maple Gold Drilling at Eagle to-date
Notes: Drill holes EM-22-006W, EM-22-006X, EM-22-008 and EM-22-009W1 returned no significant assays. Drill hole EM-
22-017 was lost at 51 m. True widths estimated at 40% to 70% of downhole width depending on the hole inclination.
Hole UTME UTMN Azimuth Plunge Length (m) From To Interval Au g/t
EM-22-001 690565 5486334 40.6 -66.8 356.6 132.0 134.6 2.6 1.7
including 133.7 134.6 0.9 4.4
EM-22-002 690565 5486334 22.0 -52.4 243 183.2 185.0 1.8 2.1
EM-22-002 200.4 205.0 4.7 2.4
including 200.4 202.4 2.1 3.8
EM-22-003 690642 5486322 59.1 -70.5 288
EM-22-004 690673 5486120 49.9 -56.0 288 139.0 141.0 2.0 1.2
EM-22-005 690758 5486043 22.6 -75.7 714 346.0 360.0 14.0 2.2
including 346.0 353.5 7.5 4.0
including 350.0 353.0 3.0 6.4
EM-22-006 690737 5485828 25.9 -63.2 777.75 539.3 543.0 3.7 1.3
EM-22-007 690736 5485826 23.9 -73.2 985 877.0 878.0 1.0 2.0
EM-22-009 690921 5485639 17.5 71.4 1009 920.4 921.0 0.6 10.8
EM-22-009 951.0 956.0 5.0 1.6
EM-22-009 984.0 993.0 9.0 4.0
EM-22-009 990.0 993.0 3.0 11.4
EM-22-009 991.0 993.0 2.0 15.5
including 992.0 993.0 1.0 24.4
EM-22-010 690841 5485795 32.5 -71.4 570 539.5 540.0 0.5 14.0
EM-22-010 543.0 544.0 1.0 8.3
EM-22-010W 690841 5485795 34.1 -61.2 932 921.0 922.0 1.0 3.7
EM-22-011 690547 5485859 56.7 -62 924 858.3 859.0 0.7 3.2
EM-22-012 691098.7 5485413 35.3 -78.6 1284 1232.2 1234.3 2.1 2.0
EM-22-013 690757.5 5486043 63.8 -69.8 327 257.0 267.4 10.4 2.3
including 257.0 260.2 3.2 5.0
EM-22-014 690565 5486334 64.5 -67.9 646 231.0 231.7 0.7 4.6
EM-22-015 690757.5 5486043 45 -50.1 408 142.5 148.6 6.1 1.6
EM-22-015 164.9 165.5 0.7 4.8
EM-22-015 217.1 221.0 3.9 4.3
including 218.5 220.0 1.5 7.4
EM-22-015 228.0 235.8 7.8 10.3
including 228.5 232.8 4.3 15.9
including 230.0 231.0 1.0 41.1
EM-22-015 246.7 248.4 1.7 4.3
including 247.5 248.4 0.9 7.1
EM-22-015 252.2 255.0 2.8 1.8
EM-22-016 690757.8 5486043 45.1 -62.6 297 193.0 206.2 13.2 2.2
including 193.0 200.3 7.3 3.1
including 196.0 199.6 3.6 4.0
EM-22-016 202.0 206.2 4.2 1.7
EM-22-017A 690643 5486322 41.3 -55.76 201 93.5 109.0 15.5 1.0
including 97.0 103.0 6.0 1.4
EM-22-017A 137.0 144.0 7.0 1.4
including 141.0 143.0 2.0 2.9
EM-22-005W 690795 5486136 2.2 -65.5 364 364.3 365.8 1.5 1.3
624.0 625.0 1.0 1.2
EM-22-006W1 690736.7 5485828 29.5 -57 435.2 476.0 479.0 3.0 2.0
EM-22-006W1 482.8 484.0 1.2 6.5
EM-22-006W1 652.0 655.0 3.0 2.3
including 653.5 654.1 0.6 6.6
EM-22-009W2a 690921 5485639 21.4 -65.9 634 828.0 830.0 2.0 1.4
EM-22-010W1 690841 5485795 30.8 -62 361 583.5 584.0 0.5 1.5
EM-22-008W 690737 5485828 45.6 -58.1 377 527.0 529.0 2.0 6.2
EM-22-008W 630.1 634.0 3.9 4.2
including 631.0 632.5 1.5 6.8
EM-23-006W4 690737 5485828 24.5 -39.4 236 472.0 486.2 14.2 1.1
including 472.0 477.4 5.4 1.4
including 481.6 482.3 0.7 4.0
EM-23-006W4 521.0 523.6 2.6 1.9
EM-22-012W 691098.7 5485413 20 -45.6 524.7 1095.3 1097.4 2.1 1.2
Narrow intercepts <1 g/t Au
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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 Sta ndards 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 Company implements strict Quality Assurance ("QA") and Quality Control ("QC") protocols
at Eagle covering the planning and placing of drill holes in the field; drilling and retrieving the
NQ-sized drill core; drill hole surveying; core transport; core logging by qua lified personnel;
sampling and bagging of core for analysis; transport of core from site to the Val d'Or, Québec
AGAT laboratory; sample preparation for assaying; and analysis, recording and final statistical
vetting of results. Check assays for gold are being done on a sample subset at ALS’ laboratory
in Val d’Or. For a complete 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
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
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 Ca sa 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 reso urces 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
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Executive Vice-President
Cell: 778.686.6836
Email: [email protected]
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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 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.